Skepticism of Bitcoin usually begins, quite reasonably, by citing its lack of intrinsic value. In this regard, it compares unfavorably to gold, as discussed recently by Patrik Korda on Mises.org.
The second reason for recent Bitcoin skepticism is its meteoric (some would say bubble-like rise), which indeed experienced a sharp correction the day after Parik’s article. Time will surely tell, but for the impatient, the philosophers and the gamblers, I offer these reasons for measured optimism in everything but the very-long term.


















