Bitcoin is a tulip. Famosly, Dutch Merchants engaged in a frantic tulip trade, which reached a fever pitch in late 1636 and was a bust by early 1637, and they paid incredibly high prices for some bulbs. When a number of buyers announced they wouldn’t pay the price previously agreed upon, the market fell apart and caused a small crisis. Tulips now are a completely unremarkable flower, bought for a few dollars at most.
Bitcoin is huge at the moment, going up and down in value by huge amounts, seemingly by the minute. The emergence of digital money is inevitable, after all the trillions of dollars handled each day by the banks is already digital. No notes or coins move because all transactions are conducted using streams of bits, and day-to-day transactions are going the same way. The use of credit cards and ATM cards is increasing but there is a problem.
A few posts back I was talking about my half-baked idea of accepting bitcoins in exchange for my books. Here’s the post where I speak about it. Unfortunately, I was using Mycelium widgets, as I explain in the post, but I ran into a problem. It is the same problem described on this Reddit. The Mycelium widgets are needed to sell my books, and I have more than one book. With multiple books therefore, I need multiple widgets.