The BitCoin mania reminds me of tulip mania. I might be mistaken, since a currency has a value as a medium of exchange as long as enough people have confidence in it. The energy now being consumed in computing to “mine” bit coins is immense. A friend one described his computers as fan heaters which did computing as a side-line. There is a data processing centre in Helsinki which uses the waste for heating an office block. Perhaps BitCoin mining could develop in a similar way.
What, though, is one to make of trading in BitCoin futures? Is it the equivalent of trading tulip bulb futures? Luke 12:13-21 comes to mind. What could possibly go wrong?
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