What is Bitcoin? What is it, why are people talking about it? Why is the value of Bitcoin so far above other speculative investments? Or is it? Nobody seems to know. The most experienced financial people I have met don’t really understand the concept of Bitcoin, yet I see articles about it in financial sections of the newspapers. Somebody knows something, but are not making themselves very clear.
Bitcoin cannot be touched, carried, or seen. It is a virtual currency that can be used in trades or in purchases.
No matter how much I read about it I still don’t understand what it is, how it can be worth anything, how anyone can buy anything with it, or who accepts it as payment when it does not exist. It sounds more like a Jerry Seinfeld episode on his “show about nothing” than a means of exchange.
If anyone can shed some light on this strange concept of money please write in. But please don’t try to sell me any Bitcoin; I’m having enough trouble keeping my checkbook balanced!