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Tuesday, August 1, 2017

Death knell for virtual currency is bellowing!

We will never support virtual currency because it is a flawed concept.  Many people just don't understand the concept of money and think that money can be created through technology.  Money was not created in the past through technology and it also couldn't be created through technology in the future.

The so-called bitcoin split will cause huge damage to virtual currency because anybody can just do a blockchain split to create free money.  Bitcoin miners don't want any blockchain split because it will undermine bitcoins.  Bitcoin developers want to create free money out of nothing but don't allow others to use the open source technology to do bitcoin splits to get free money.

Today, we'll have bitcoin and bitcoin cash.  In the near future, we'll have bitcoin dollar, bitcoin note, etc.  As these developments progress, people will lose confidence in virtual currencies because there are no regulations for these splitting developments.  To prevent the loss of confidence, people will start to demand for regulations to protect their investments.  Therefore, we'll be back to square one where the same group of people doesn't want regulations in the first place.


Eric Ho said...

Bitcoin split has happened in China!

Eric Ho said...

Bitcoin will soon have Bitcoin Gold after Bitcoin Cash.