25 Mar '13, 11am

Big banks vs. Bitcoin libertarianism

Banks should learn to work with, rather than against, the new role of money in a peer-to-peer landscape, says media theorist and author Douglas Rushkoff writes on Mashable , based on the arguments of his new book, Present Shock: When Everything Happens Now . But many libertarians would rather bypass , not work with banks. The hype has never been hotter for the Internet’s crypto-currency Bitcoin , Salon reports . At a Thursday afternoon all-time-high valuation of $72 per Bitcoin, there were around $700 million worth of Bitcoins in circulation. People are using Bitcoins to buy real goods and services, to hedge against European financial calamity, and to score drugs. Feds step in One can fairly say that Bitcoin came of age. On Monday, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) released its first “guidance ” as to how “de-centralized virtual currencies” ...

Full article: http://www.kurzweilai.net/big-banks-vs-bitcoin-libertaria...

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