May 17, 2011
Well, they can’t stop people from transferring bitcoins to each other. As long as the Internet exists, bitcoins can be sent and received around the world. The governments, however, can shut down exchanges that handle national fiat currencies in and out of bitcoins.
I wonder if people will continue to be use bitcoin after the governments shut down the fiat exchanges? They just might. Like any medium of exchange, it’s fungible as long as people are willing to use it.
A month ago I heard folks talking online about a virtual currency called bitcoin that is untraceable and un-hackable. Folks were using it to buy and sell drugs online, support content they liked and worst of all — gasp! — play poker.
Bitcoin is a P2P currency that could topple governments, destabilize economies and create uncontrollable global bazaars for contraband.
This article was posted: Tuesday, May 17, 2011 at 2:48 am