Hi Peter

Thanks for your comments. Always interesting with another perspective.

I have to admit John touched on some very good points above. Bitcoin, as it functions currently, is not suited for exchanges. In economic terms, it's not considered money (despite currency being a part of its name... ironic). Instead, Bitcoin is a speculative asset.

I've written about it here:

https://medium.com/datadriveninvestor/bitcoin-isnt-money-fe5f7a3536bb

The article you originally commented on is not a lamenting on Bitcoin. I don't believe Bitcoin is fraudulus per se.

Regards, Asger

I’m an economist doing policy design and analysis. I write about the economy, taxation, innovation and growth, policy design, and financial markets.