01 Apr '13, 2pm

Bitcoin Hits $101 - Doubles Since Cyprus

I don't think the majority of ZH readership is opposed to the idea of bitcoins (crypto-currency not directly created by the government). For my part, the problem is that such an inherently dangerous concept (from the perspective of central planners) would be seen as too large of a threat to the government-printed fiat game should it ever become broadly used (and let's be realistic, we're talking a tiny number of people compared to the scope of the larger currency markets today). When governments feel threatened, it's difficult to underestimate the lengths they will go to in order to crush the opposition. In this case, for bitcoins to become a true alternative currency, it assumes that government will not clamp down on legitimate businesses that would accept it (they would), charities that would take it as donation (they would), identified mining operations (they would), co...

Full article: http://www.zerohedge.com/news/2013-04-01/bitcoin-hits-101...

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