Whenever you question the validity of a contemporary phenomenon, you run the risk of people calling you a old fuddy duddy, Luddite, or worse. Perhaps you are “old school,” or “behind the times.” Regardless, not accepting the “wave of the future” is often bad for your reputation, in the short-run.
Be that as it may, I simply can’t get my arms around Bitcoin, and why so many think it is such a swell idea. Oh, I grasp the concept, even if I might have a hard time decoding all the necessary algorithms. However, I guess I just don’t understand the true need for Bitcoin, and I certainly don’t understand how it will succeed in practice.
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.