Since last week hearings on the Bitcoin in the US Senate its "value" increased reaching at some point almost $1000 before falling down to $600 (double what it was before hearings). Much more written in press and talked about Bitcoin on Internet during last days. To cut through all this BS we prepared a short 18 min video that we hope will answer most (if not all) of your questions about Bitcoin. After you remove a lot of "magic words" and outright fiction and false statements the truth should be clear to anyone who has even a little common sense. Here are just a few most important facts:
1. There is only 21 million Bitcoins and more than 300 million people just in US. Clearly we all cannot have at least one Bitcoin per person. Why anyone would want to use such a limited supply currency?
2. Bitcoin not like gold or even some other material object has any intrinsic value. Try to "enjoy" or made something of a bunch of numbers if they cannot be used for anything else.
3. Institutions like Federal Reserve, Treasury and even banks and credit card companies provide important guarantees that instill our confidence in the currency we use. One can dispute a transaction with a credit card company or have verify legitimacy of the currency we use. It is not the case with Bitcoin because if it is "peer to peer" exchange tool -- if you are fooled you are on your own (please do not go to authorities and complain - be responsible).
4. The worst decisions people make when they are scared or driven by greed. Do not let talking heads and speculators trick you into a scheme.
And now is the Feature Presentation suitable for all audiences
In conclusion enjoy this story Missing: hard drive containing Bitcoins worth £4m in Newport landfill site