11 Apr '13, 2pm

Bitcoin, still not a currency. And now crashing.

Bitcoin, still not a currency. And now crashing.

Photographer: Susana Gonzalez The U.S. twenty-dollar bill: A widely accepted tool for everyday transactions. Last month, I wrote a post titled “Sorry, Bitcoin Isn’t a ‘Currency’ ” pointing out that whatever the merits of Bitcoin as an investment, its use as an actual currency useful for buying and selling was minimal. I wrote it thinking that I was largely reminding folks of an obvious point. Apparently not. The post elicited more than 200 comments. Maybe there were two or three people who agreed with me in there; I might have missed them. By and large, the comments insisted that actually there were plenty of people doing real business using Bitcoins. They pointed me toward retailers like Bitcoinstore.com, a retailer of electronics and other goods that did more than $500,000 of business in March. So far this month, Bitcoinstore , according to its website, has sold $142,250...

Full article: http://go.bloomberg.com/market-now/2013/04/11/bitcoin-sti...

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Bitcoin Is No Longer a Currency

Bitcoin Is No Longer a Currency

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