Advertise with us (we do not endorse any site advertised)

Author Topic: reason.com: Bitcoin "Could Undermine Central Banks." Woo hoo!  (Read 1818 times)

0 Members and 1 Guest are viewing this topic.

Offline bitcoinforum.comTopic starter

  • Administrator
  • Legendary Member
  • *******
  • Joined: Nov 2011
  • Location: bitcoinforum.com
  • Posts: 1497
  • Country: bz
  • Thanked: 52 times
  • Karma: +40/-1
  • Gender: Male
  • The Bitcoin genie is already out of the bottle.
    • facebook.com/bitcoinforum
    • flickr.com/bitcoinforum
    • bitcoinforum.livejournal.com
    • reddit.com/user/bitcoinforum
    • stumbleupon.com/stumbler/bitcoinforum
    • bitcoinforum.tumblr.com
    • twitter.com/bitcoinforumcom
    • bitcoinforum.wordpress.com
    • View Profile
    • bitcoinforum.com
reason.com: Bitcoin "Could Undermine Central Banks." Woo hoo!
« on: January 29, 2013, 10:09:02 PM »
Bitcoin "Could Undermine Central Banks." Woo hoo!
(Katherine Mangu-Ward | Jan. 29, 2013 2:39 pm)



Today on Bloomberg, this is the lede of a story about the rise of Bitcoin, the peer-to-peer virtual currency:

Quote
An increase in the value of bitcoin, the world’s largest online currency, may fuel concerns that virtual money could undermine the role of central banks.

Well duh. That's sort of the point.

Here's the deal:
Quote
Greater demand for virtual currencies could have a negative impact on the reputation of central banks, according to a report published by the European Central Bank in October last year. Since the report was released, bitcoin has risen more than 55 percent against the dollar and use of the currency has surged.

Bitpay Inc., a bitcoin payment processing company that recently raised $510,000 in an investment round, this month announced that the number of companies using its services has increased almost 50 percent to more than 2,000 since November, when blog management firm WordPress.com said it would accept the digital currency.

“I think the ECB obviously is concerned, and it’s not reputational,” said Steve Hanke, a professor at Johns Hopkins University in Baltimore who helped to establish new currency regimes in countries such as Argentina and Bulgaria. “I think it’s a competitive threat. Maybe virtual currencies will be so convenient that they will pose a threat because of their ease of use.”
http://reason.com/blog/2013/01/29/bitcoin-could-undermine-central-banks-wo
"Your keys, your Bitcoin. Not your keys, not your Bitcoin." (Andreas Antonopoulos)
Latest stable Bitcoin version
Latest stable Electrum version


 

bitcoinmoney.com: Brazilian Whacks "Bitcoin Investment Group"

Started by bitcoinforum.com

Replies: 0
Views: 2141
Last post July 28, 2012, 10:07:25 PM
by bitcoinforum.com
ecb.europa.eu: Is Bitcoin a threat to the trust in established central banks?

Started by bitcoinforum.com

Replies: 0
Views: 5785
Last post October 29, 2012, 09:33:06 PM
by bitcoinforum.com
Al Gore: "I'm a big fan of BitCoin"

Started by bitcoinforum.com

Replies: 1
Views: 2121
Last post March 20, 2013, 03:59:57 PM
by bitcoinforum.com
Indie Game "Factorio" Accepts Bitcoin after Paypal account freeze

Started by bitcoinforum.com

Replies: 0
Views: 1592
Last post March 22, 2013, 11:06:39 PM
by bitcoinforum.com
Bitcoin hits $1,000,000,000 "market cap"

Started by bitcoinforum.com

Replies: 1
Views: 1561
Last post March 28, 2013, 03:45:16 PM
by bitcoinforum.com

your ads here