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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?

Editor:

     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

Robinson





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