In the medium-sized to long-term I've written off all crypto that serve
   no useful function except, perhaps, as "digital gold" for asset safety.
   Comparing BTC to national monies, how many would use a currency whose
   fee "friction" made it impractical to use except as a replacement for
   Wire transfers?

   On Jan 7, 2018 2:40 PM, "g2s" <[1]g2s@riseup.net> wrote:

   James Kunstler's cynical forecast includes BTC
   "Bitcoin and other cryptos have a superficial appeal as a wealth safe
   haven supposedly out-of-reach of avaricious governments — if you don’t
   consider everything else that’s wrong with it. (Yesterday, Dec 31,
   Australia’s biggest banks froze the accounts of Bitcoin investors.) I
   think the safe haven idea will prove fallacious. Governments are
   already finding ways to interfere, using taxation schemes and shutting
   down exchanges. Bitcoin’s other claims on “moneyness” look bogus as
   well. It’s too unstable to be a medium of exchange, and too difficult
   to even access when need to sell, and you certainly can’t price
   anything in it as it shoots up and crashes every day. Bitcoin went way
   up because people — or maybe just algorithms — saw it going way up, so
   they hitched a ride. The rush to the exits will be brutal. Its final
   resting place will be zero, but perhaps not without a trip or two to
   nosebleed levels in 2018, especially as other markets wobble in the
   first half of the year. Bitcoin $50-K wouldn’t surprise me. But I’m not
   among the buyers. Enjoy the show...:
   In full [2]http://kunstler.com/clusterfuck-nation/forecast-
   2018-go-wrong/

References

   1. mailto:g2s@riseup.net
   2. http://kunstler.com/clusterfuck-nation/forecast-2018-go-wrong/