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ooli · 4237 days ago · link · · parent · post: John Quiggin: The Bitcoin Bubble and a Bad Hypothesis
The utility of bitcoin is like facebook: it Only depend of its userbase. No users = no utility. If I create a currency on the same model..ie: The CoinCoin. And somehow manage to get some big retailer to accept it (amazon, ebay, etc) all the value Bitcoin ever had will swap to CoinCoin in a matter of days.
The usability of bitcoin is pretty lame. And worst, the currency has proven its instability loosing any value as an exchange mean it could have had.