My Thoughts on Bitcoin

In today's comic, the frogs are getting in on the Bitcoin craze. I've stayed out of it personally. It seems like an interesting concept and all, but I have a few reservations at this point. I won't say that I'm opposed to it, because I'm not really. I just don't think it's for me yet.

First, it's because I'm a person. I'm not a business. I have nothing to sell, so I'm not trying to reduce the fees I pay for credit card transactions or anything. I'm not trying to get more customers who might not want to use U.S. Dollars. I'm just a person.

Second, it's because I don't need to. All the places I buy groceries still take normal American currency. I live in central Pennsylvania. I don't know where the nearest business is that accepts Bitcoin, and I don't know if there are any in the state that accept it exclusively. I'm too practical to try to use Bitcoins at this point.

Third, it's too volatile. I don't have the hardware needed to mine the coins, so to get any I'd have to buy them with my dollars. I might see their value double in the next month, or I might see their value halve. I'm just not into currency speculation. I'll take my chances with U.S. inflation.

So that's why I don't have any Bitcoins. I do have a Bitcoin wallet somewhere though - if you want to send me some I won't say no.

Amphibian.com comic for 15 October 2014