I own a few bitcoins, mostly as a political statement, but I did go to a panel discussion at Stanford Law School on Bitcoins a few days ago. There were a lot of heavy hitters there. I felt like we are on the cusp of a significant change in how financial transactions are carried out.
Sort of like when I bought my Leaf.
I bought at 120
I agree your political statement as well.
I see what you mean about the Stanford panel!
http://www.stanford.edu/~dleung2/progra ... 120913.pdf
To discuss the evolution of the Bitcoin market, we have assembled a
unique panel of experts including a venture capitalist with a strong
stake in the Bitcoin market, a Bitcoin entrepreneur, the promoter of
the Bitcoin Investment Trust, a former general counsel of the CIA, and
a leading securities law professor who is also a former Commissioner
of the SEC.
I wonder how much these currencies scare the banking industry? (Except Germany, I guess - Bitcoin's legal tender
Gack...I guess reading the Zerohedge piece answers that question!
The story of the German Finance Ministry stating Bitcoin is essentially “legal tender” has been making the rounds all over the virtual currency and technology world this morning and for good reason. This is a very, very big deal. Not just because some bureaucrat seemingly “legitimizes” the crypto-currency, but because it is the first commonsense approach from a major economy to-date.
While the U.S. government runs around like a chicken with its head cut off, issuing subpoenas and launching Senate investigations on Bitcoin, Germany is merely accepting the obvious. This is the wave of the future, you can either act like an incorrigible child and fight it, or you can accept reality and pave the way to the future. I’m pleased to see Germany, home to the most dynamic Bitcoin community on the planet, in Kreuzberg, taking a reasonable approach. Not to mention the fact I could never see a U.S. bureaucrat ever endorse Hayek or Austrian economics. The times they are a-changin’.