Wednesday, April 10, 2013

Bitcoin- a fun ride

Bitcoin.  Seems like lots of people are talking about it recently.  Some extolling its virtues, and others screaming "Scam!".

I finally started accepting Bitcoin a while back- at a good time, it would appear.

Now, I am still not convinced that Bitcoin is as wonderful as some seem to think.  I may be wrong, and that would delight me.

My suspicions center on a couple of things:

Bitcoins are not based on anything tangible.  You can't hold a Bitcoin and turn it over in your hands.  This may not bother people accustomed to digital FRNs in their bank account, but it does bother me a little.  Anything digital can vanish without a trace- without you even doing anything negligent to lose it.  Maybe the digital world will keep getting more robust so that this will become a complete non-issue.  Other than government records, I would like to see information become impossible to accidentally lose.

The second part of my suspicion is less justifiable- I don't completely understand them.  Yeah, I have read volumes of stuff and watched numerous videos, but my ignorance must go deeper than mere information can fix.  Perhaps it's because I am more of a "stone knives and bearskins" sort of person, and not a computer geek.

Still, I don't like keeping all my eggs- or money- in one basket.  So I will keep dabbling in, and accepting, Bitcoin to see where this ends up.  It's good entertainment anyway.