The bitcoin paradox.

Over the last 10 odd days, I have been a mute witness to conversations where multiple opinions have been exchanged on whether or not bitcoins ought to be part of an investment portfolio. As things are, it is a hotly debated subject. Bitcoins are apparently coveted assets, and the least understood as well.

Then there is the fact that earlier this week, the Supreme Court of India admitted a plea to regulate the flow of bitcoins into India. The SC has also sought a response from the central government. While I haven’t been through the submissions in the plea, I’m willing to put my neck on the line and submit that the plea must be a ridiculous one and the handiwork of a clueless creature that understands nothing about peer-to-peer (P2P) technology. If anything, the court ought to have dismissed it as a frivolous one and fined the ones who filed it for wasting their time. For the life of me, I don’t know why the SC should be dragged into this.