About Bitcoin... Well. I have to say something. First, had we told people "you are going to use an electronic currency, with no physical equivalent possible", many would have hated it. It's simple, it makes any transaction traceable...

One way or another, we can know when to buy what, if we want to. It also means that you have to carry a potential plotter, phone or computer, with you to pay under any circumstance.

More seriously, it means that if it was a base currency, the States could tax your transactions, that means absolutely all your transactions (even the 30 euros/dollars gift to your grandchildren).

But that's not the worst. The worst part is what we hear as a major pro-Bitcoin argument: The security in Bitcoins is that there is a certain amount of them, and that we cannot create more. This therefore prevents the devaluation of your wealth.

Excellent. I am reassured. Actually no. Not at all. How can we fail to see that it doesn't matter? First of all, Bitcoin is not based on any wealth. You buy nothing. This means that you devalue your country's currency by buying Bitcoins.

The currency of your country is indeed theoretically based on the wealth produced by your country. If you have 100 euros, you put 50 in Bitcoins, you increase the money supply by placing physical wealth in Bitcoins. You have thus devalued your other 50 euros.

But this is not the most serious. The worst is if people are accepting cryptocurrency in large numbers. Because you can't create more Bitcoins, right, but it can be created from nothing as many cryptocurrencies as you want. And this is where people are mistaken...

It's a bit like if we told you: It's safe to invest in 100 euro banknotes because we have created 1000 and not one more will ever be created!... But we can create 50 euro banknotes, 20 euros, 500 euros, 1.5 euros, 22,30 euros etc.

So, you are not devaluing Bitcoin, but you are devaluing wealth. And this, for everyone, has exactly the same result as devaluing a single currency in a country today. Creating a new cryptocurrency automatically devalues others, since wealth is placed in this new cryptocurrency.

The only interest of these cryptocurrencies today is pure speculation. But know that by investing to earn money through speculation, you are selling your and your children's future to cryptocurrencies...

... because interest then grows around these currencies, and it becomes possible for them to establish themselves as currencies for the future.

These were my words on this topic.