10 Reasons Why BitCoin Is Dodgy?



1. No one knows who invented BitCoin except those in the CIA, NSA and related organisations making it really opaque and therefore dodgy.

2. Nothing except drugs and extreme porn seem to be traded using BitCoin, why?

3. Online poker was an option for its use until it was attacked, why would a poker site using virtual currency be attacked?

4. BitCoin is virtual and other currency can be created ad infinitum, this means that the inventors with the best branding will make the most money. BitCoin brand may have lost its lustre and another brand will take its place.

5. Maths on paper is a great way of running an economy, however, humans are not rational and therefore maths is an hindrance and religion is so popular. Therefore the virtual currency will need be be ‘believed’ before it will make head way into society.

6. Since BitCoin has no central regulatory body therefore it has no tanks or war planes therefore it will never replace the Dollar, Euro, Yuan, Yen,  or even the Pound.

7. There is a belief that BitCoin is part of some right wing conspiracy to bring back the gold standard, we will see in the fullness of time.

8. BitCoin is not part of polite conversation as of yet, making it untouchable in normal poker table banter which is the standard set to see if something has gained traction in society. I therefore assume that over 99% of the population has not heard of BitCoin and could not care less about it.

9. Any persuasive chatter about BitCoin seem to come from Max Keiser who is downright clever but a bit weird, and, will therefore scare the bejesus out of housewives and pensioners.

10. Bitcoin resembles Linden Dollar far too much, and, we all know what a pile of rubbish that was. The pound maybe be doomed but at least it has the illusion of being sensible. Linden Dollar always looked ropey.

Yes I am yet to be convinced that BitCoin has a future. If it does have a future why is it not being spread around so people can see how it works in a normal day to day transaction? At the moment it seems to be a play thing of gold standard worshippers and right wing libertarians. 

I am still open to use BitCoin but I will not actually put any ‘proper’ money into it. If you want to do a deal please contact me and lets see what we can come up with.