Yes. If there were a place where only bitcoins were used for everything then it’d be fine. But as they can be traded with other currencies their exchange rate varies massively, and the price is going to go through the roof.

Still can’t see how this is an advantage to anyone except speculators.

Oh and if I held a lot of them I’d be keeping a close eye on quantum computing developments…

if they are “Unique” numbers, why can’t they just be voided?

Why?

Because anyone can trade bitcoins with normal money. There’s no way of telling where my bitcoin came from.

The whole bitcoin idea is brilliant, but as we’ve seen it’s vulnerable.

I’m starting up a competitor called ActualCoin using small copper bronze tokens that are cunningly disguised to conceal their value.

They will be £1 each to start, but if bitcoin is a guide their value will rise dramatically.

Here’s a pic – their resemblance to existing currency is purely coincidental.

For a limited time, buy one and get another free.

Alastair Darling is my agent for that sort of exchange. 🙂