30 Aug '13, 2pm

10 Reasons Bitcoin Is The MySpace Of Money And What Might Save It

10 Reasons Bitcoin Is The MySpace Of Money And What Might Save It

It’s marginally legal . To put it simply – you can’t f*** with US government interests. And Bitcoin’s got it all – potential for money laundering, undermining monetary policy, and terror funding. This is like trying to convince Wal-Mart to sell “Wal-Mart Sucks” t-shirts. Yes, on some level, we are the government and could change the system, but Bitcoin isn’t the cause to rally around. In fact, the government just started cracking down on Bitcoin like it did with Liberty Dollars and gold before that. It’s easy to shut down. As the government proved with online gambling and offshore accounts , you can suffocate any business without banning it by cutting off money transfers. No financial institution is going to risk its US license for Bitcoin, gambling, or executives hiding assets from jilted spouses. Legit customers won’t crawl over barbed wire to fund a Bitcoin account. It ...

Full article: http://www.forbes.com/sites/stevefaktor/2013/08/30/10-rea...

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