10 Apr '13, 7pm

Why Bitcoin is a Bubble via @thedailybeast

Why Bitcoin is a Bubble via @thedailybeast

Look at tax havens, which are starting to cave under pressure from countries with stricter banking laws. This has been a bit of a surprise, given that in many places, selling secret bank accounts is basically the entire economy. But under examination, it makes sense: bank secrecy laws don't do you much good if other countries have banded together to make it impossible to transfer money into or out of your country. On net, the digital era has made it easier, not harder, for governments to control the finances of their citizens. Why don't we already have an easy, anonymous way to transfer cash? Is it that no one has tried to think of one? No. Is it that the such a thing is technically impossible? God no: bitcoin proves that. So do hawala networks . The reason it hasn't happened is that governments can fairly easily prevent those transfers from entering the traditional bankin...

Full article: http://www.thedailybeast.com/articles/2013/04/10/why-bitc...

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