It seems to be taking off like crazy with TIME and Forbes mentions recently. It went from like $1 per to $2.50 per now.
The problem is that its completely based on faith of the users. Now, this is true of any currency, but unlike gold and silver, here its ridiculously volatile and unstable. The only place it differs from fiat is that the money supply cant surge (or be changed at all for that matter).
The only positive of it really is that its very secure and anonymous. But compared to the negatives...
A lot of people are so defensive about it, but I just cant buy into this hype. Part of it is my true feelings. Part is that I dont want to get sucked into it, so I take a harsh view. I honestly cant wait for it to collapse, and honestly, I think it will.
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