What Happens If Bitcoin Succeeds?

Naked Capitalism has the post What Happens If Bitcoin Succeeds?

As the price of bitcoin continues to rise, this column argues that most of us would not want to live in a society where bitcoin succeeds. Fortunately, the internal contradictions and perverse consequences of cryptocurrencies’ success mean that they are destined for failure. Until then, it might make sense for speculators to ride the cryptocurrency bubble, so long as they get out in time.

Since I know that I am a procrastinator, I know that I won’t be able to get out in time. I will miss the ride up and the crash down.

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