www.FinancialSurvivalNetwork.com presents
Chris Duane joined us
today. He has been a leading BitCoin doubter. He believes that it's
simply another unbacked currency with no fiat backing it up. He stated
that over 70 percent of the BitCoin units have never been circulated and
25 percent of the units are owned by one individual. What happens when
the networks go down and your wealth is held in BitCoins? Finally you
can't take a BitCoin and go to the convenience store and buy a loaf of
bread. So the entire portability issue hasn't been solved yet. And
BitCoin like any other currency works only when there's confidence.
Anything that negates confidence will undermine it's value.
