Bitcoins Are Commodities

See the Bloomberg story.

I thought that this was obvious and created a bit coin futures exchange as a result (which didn’t go anywhere and I may have shut it down). But this is a big deal for some and I expect that this will smooth out some of the volatility as any price jumps are pounced on by arbitrage traders.

Good for them. I gave up trying to stay current on crypto exchanges because they are inherently worthless and it’s impossible to gauge the price correctly.

Like gold.