16 Oct '13, 9pm

Bitcoin: I’m Not Dead Yet!: After a torrent of bad news, the digital currency Bitcoin has survived to fight an...

Bitcoin: I’m Not Dead Yet!: After a torrent of bad news, the digital currency Bitcoin has survived to fight an...

Lobbyists will almost certainly play a role: Entire industries are threatened by Bitcoin. At a modest scale, Bitcoin provides an evolutionary step away from credit cards , which charge fees for each transfer (either to the consumer and/or the seller). Even services like PayPal remain dependent on the credit card industry, while Bitcoin transactions never go through a credit card agency and incur no (or small) fees. If it reached a larger scale, Bitcoin could rival banks, which also reap huge profits from money transfers and can wield enormous lobbying campaigns . In the long term, were Bitcoin to become a viable rival currency, it would have severe consequences for the basic monetary policies of Western economies—and the finance industry they empower.

Full article: http://www.slate.com/articles/technology/future_tense/201...

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Why Bitcoin Boomed During the Government Shutdown via @motherboard

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