waderoush writes: In a critique of Bitcoin, innovation journalism scholar David Nordfors argues that the peer-to-peer cryptocurrency is a commodity, rather than a true currency, and that the wild, speculation-driven fluctuations in Bitcoin's value against government-backed currencies make it useless as a practical means of exchange. 'Bitcoin might be a robust technology. But the Bitcoin market is crazy,' writes Nordfors, who compares the run-up in Bitcoin's value to the Dutch tulip mania of the 1600s. 'Let’s treat Bitcoin as what it is—an impressive technology, a financial experiment, a social phenomenon, but hardly the basis for a new digital economy.'
DEAL: For $25 - Add A Second Phone Number To Your Smartphone for life! Use promo code SLASHDOT25. Also, Slashdot's Facebook page has a chat bot now. Message it for stories and more. Check out the new SourceForge HTML5 Internet speed test! ×