Posted by RodInNS on February 26, 2014 at 09:57:43 from (216.118.158.123):
In Reply to: Bitcoin posted by Traditional Farmer on February 26, 2014 at 05:21:45:
Bitcoin as far as I can tell is nothing more than a scam... that a lot of people have bought into. It will work as a currency until the day it folds when the ones holding the bitcoin will be the losers. While on the surface bitcoin seems to follow a similar structure as other fiat currencies... such as the dollar... the reality is that the Fed is responsible for the dollar. A real, tangible entity empowered and regulated by the federal government. The dollar is backed by the strength of the nation's economy. Bitcoin is backed by the wind and nothing more.
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