Government-backed money still has one huge advantage over bitcoin

Associated Press/Susan Walsh

Bitcoin’s price has gone crazy honesty in relationships in 2017.

But the electricity needed to power the cryptocurrency network has also increased exponentially, and it’s unsustainable.

Further, government-backed fiat currencies are not likely to be replaced by 1st bitcoin, if for no other reason than you need them to pay taxes.

Unless you’ve been hiding under a rock, you know bitcoin prices have gone bananas. I’m not even going to quote any numbers. Anything I say will be laughably wrong by the time you read this.

Could some virtual currency that only exists on a computer screen really be worth these crazy prices?

Maybe. If

 you think it will become a major medium of exchange, bitcoin is far underpriced.

That’s a big “if” we’ll discuss in a minute.

Bitcoin’s growth is unsustainable