Thinking Bitcoin Rationally

The arguments for and against Bitcoin have been extremely polarising. It might be because there is a cult-like air among those that think of Bitcoin as being the way of the future or how its meteoric rise in price has attracted scammers and brought about a number of rags-to-riches stories.

For an economist like me, the technology is not that easy to understand. Further, when you know the history of money and have studied the concepts of monetary policy there are some flaws in the argument for Bitcoin in becoming a feasible form of money over the longer-term.