Comment Re:My 0.02 (Score 1) 464
>Bitcoin is a recipe for epic financial disaster.
As surprisingly large as Bitcoin has become, it's still peanuts compared to anything that could affect the markets.
The tragedy will be at the individual level as the last of the greedy fools comes to the realization that they're the LAST of the fools, and have been left holding the bag.
Now... how long that takes, and how big the bag is when it happens... no idea. What I do know is I will have absolutely no sympathy for anyone losing their shirt when the crash comes. I will consider those people to have economically auto-Darwinated.
This, more than anything. Bitcoin hasn't penetrated into mainstream financial markets at all, so if/when it implodes it won't affect the market at large. What worries me is that Bitcoin Futures has the power to change that, it offers an in for investment bankers and hedge fund managers to start speculating in bitcoin, which given their penchant for greed and the current wild west regulatory situation in cryptocurrencies, could create a recipe for disaster.