11 Nov '13, 4pm

If You Believe in Bitcoin, You Should Never Buy Anything in Bitcoin via @slate

If You Believe in Bitcoin, You Should Never Buy Anything in Bitcoin via @slate

This pub owner, for example, should not buy anything with Bitcoins. Photo by Sean Gallup/Getty Images This post originally appeared in Business Insider . Many Bitcoin believers think that the digital currency will one day become the pre-eminent currency of the internet. They basically see it becoming the internet's version of gold in that it's naturally scarce, independent, virtually impossible to manipulate, and crucially suited for a digital world when money ought to be able to be moved seamlessly and at no cost. Advertisement Well here's a tip: If you think that this is true, then never use Bitcoin in a transaction. As more people have gotten into Bitcoin, the price has gone way up. Virtually everyone who has ever bought anything in Bitcoin has been a huge loser, who would have been better suited just holding onto the Bitcoins instead. Remember the pizza that was purcha...

Full article: http://www.slate.com/blogs/business_insider/2013/11/11/bi...

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