Should Crypto-currencies such as Bitcoins be trusted as fully as traditional currencies?

  • Crypto-currencies such as Bitcoins should be trusted as fully as traditional currencies.

    Crypto-currencies such as Bitcoins should be trusted as fully as traditional currencies. They are great for online use and they are cheaper to use than other currencies. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

  • No, there is no real backing for Crypto-currencies.

    I believe that these currencies are very suspicious and can be used for illegal activity. These currencies are so new and have nothing to back them up. Without any kind of regulation there is no trust. Money depends on trust from people and countries. The fact that people are using this money to buy stuff so they don't have to deal with the government is a big problem.

  • The recent slide was horrendous, imagine the DOW sliding like that

    Because Bitcoin does not have as easy of a contingency or fabric from which to buy or sell, it is harder to lessen volatility. Even in traditional markets like Silver, Gold, and Oil, volatility can cause uproar and scare away buyers. Bitcoin's over 1000% decline or whatever it was shows that it's not mature.

  • At your own risk.

    Crypto-currencies such as Bitcoins should not be trusted as fully traditional currencies, because they do not have oversight or regulation like traditional currencies do. A person who uses Bitcoins does so at their own risk. Without government backing, Bitcoints and other similar currenices are not as stable or predictable. They are what their creators want them to be.

  • Crypto-currencies such as Bitcoins should not be trusted.

    Bitcoins cannot be trusted because they are not real money. Actual money is backed by a national government. In the long run, people are not going to trust computer currencies because no government can insure their legitimacy. Furthermore, everyone knows that bitcoins were created to help terrorists and drug dealers.

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