Isn't wide acceptance of bitcoins based on some form of backing (not necessarily assets) but at least governmental... which raises at least the following 2 issues:
1. Even though there may be a secondary market insured by agents/brokers. In case of busts & credit crunches, those may/will not be able to support it, hence the trust in this market could erode quickly & holders of bitcoins May be caught with their pants down !!
2. not regulated by any agency, hence it can be a good medium for fraud, tempering, laundering or speculation... who will protect the holders?
Isn't wide acceptance of bitcoins based on some form of backing (not necessarily assets) but at least governmental... which raises at least the following 2 issues:
1. Even though there may be a secondary market insured by agents/brokers. In case of busts & credit crunches, those may/will not be able to support it, hence the trust in this market could erode quickly & holders of bitcoins May be caught with their pants down !!
2. not regulated by any agency, hence it can be a good medium for fraud, tempering, laundering or speculation... who will protect the holders?