Bitcoin "Could Undermine Central Banks." Woo hoo!

Bitcoin "Could Undermine Central Banks." Woo hoo! - Hit & Run

reason.com 29 Jan '13, 7pm

Bitcoin "Could Undermine Central Banks." Woo hoo!

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 com...

Full article: http://reason.com/blog/2013/01/29/bitcoin-could-undermine...

Tweets

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@This_Fn_Guy » 05 Feb '13, 2pm
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@watchpocket » 30 Jan '13, 9pm
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@_vabadus » 30 Jan '13, 12am
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@mindofH » 29 Jan '13, 8pm
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@EliSymeon » 29 Jan '13, 8pm
So @Reason thinks that: Bitcoin "Could Undermine Central Banks." [link]
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@BitcoinRate » 29 Jan '13, 7pm
Bitcoin "Could Undermine Central Banks." Woo hoo! - Reason Online: Today on Bloomberg, this is the lede of a sto... [link]
@BitConcierge » 29 Jan '13, 8pm
Bitcoin "Could Undermine Central Banks." Woo hoo! - Reason (blog) [link]