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home : insight & opinion : letters to the editor
January 22, 2018

12/20/2017 1:31:00 PM
Is it just another scam?


     Does anyone really understand Bitcoin?  I've been watching the reports both online and on the TV about this supposed revolutionary digital currency and get more confused with everything I see.  It appears to go up and down in value as much as 40 percent in just a few days and is accepted for purchases nearly nowhere. Yet the appeal seems to be that it's completely digital.

     Here's my problem.  I already have digital money.  I get my retirement deposited digitally every month.  I can pay my bills digitally.  I have credit cards and debit cards I can use to transfer funds or buy things digitally.  I can even use them to get some of that dirty old cash to carry around if I want - even though I don't really need it anymore.  I can put my cards on a phone if I want.  I can make purchases digitally over the Internet and rarely ever use a checkbook anymore.  

     So what's the big deal with Bitcoin?  I'm wondering if it's something someone dreamed up as a way to get real money from big-eyed but small-brained people that will one day shut down with people screaming abut being scammed.  It wouldn't be the first time someone pulled a scam that bilked people of their money.

Phil Montgomery


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