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BLOG SITE OF SPIRITUALMAN, KEVILL DAVIES

Novelist. Author of APSARAS and tales from the beautiful Saigh Valley. First person to quantify spiritual values.

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Sunday, 3 January 2021

Bitcoin? What's the point?

 What is the point of Bitcoin? One has heard of it for a few years; people have claimed to make 'real' money trading with bitcoins and the inventor, is said to be worth 6 billion dollars through his holding of bitcoins.

The problem I have with these crypto currencies is that they exist, it seems to me, to make money for a limited few people without actually making anything, providing a meaningful service or exploiting mineral resources. In other words it is a way of making money for making money's sake without having to do any work. It may also be a device for avoiding paying relevant taxes. It is difficult to avoid the suspicion that the motive for the existence of crypto currencies is greed.

As with other schemes such as share trading, (as opposed to share holding) for each successful deal yielding a gain there must be a corresponding loser and most likely it will be someone who can ill afford a loss.  

 

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