Businessweek has a thoughtful and well-written defense of Bitcoin, the open source virtual currency that approximates cash on the internet. Writer and programmer Paul Ford points out that the Bitcoin experiment, so far, is working: it's actually being exchanged as money, and the underlying technology has proved "to be impeccable and completely functional." He makes a persuasive point that Bitcoin is "no more arbitrary than derivatives or credit default swaps." At the time of this writing, a single Bitcoin is being traded for $91.67 USD (although The Economist, at least, expects the bubble will pop soon).
Unfortunately, Ford also repeats the unsubstantiated claim that Bitcoin's meteoric price rise was sparked by fears over the Cyprus...
via The Verge - All Posts http://www.theverge.com/2013/3/28/4157796/an-optimistic-theory-of-bitcoin-as-a-hedge-against-the-entire-global
No comments:
Post a Comment