VVayneTracker comments on “Bitcoin Exchanges Are Buckling While the Price Surges Past 16,000″

How is a currency backstopped by nothing going to be superior? Volatility? It won’t have the same exposure to the source of volatility to which national currencies are succeptable? Presumably it wouldn’t be encumbered by an obligation to provide for the welfare of its constiuents. But in that sense, the burdens of a citizenry also translate into a valuable commodity which can be leveraged in the form of labor.

Just spitballing here. It’s a very interesting thought exercise.

No person or entity can affect the money supply so the only governance function would presumably be

This seems very murky. It’s utility as a currency of last resort seems uncertain and therefore relatively weak. Considering it would have to serve as a source of stability in a time of volatility which is itself a highly uncertain proposition.

To my mind, seems likely BTC is being used by the super-wealthy (persons and fictitious entities, i.e. corporations) to avoid taxes and to pay bribes.