25 Oct '13, 10am

For Bitcoin's Biggest Believers, Digital Currency Is Better Than Gold

Ken Shishido (center) talks bitcoin with other enthusiasts at The Pink Cow restaurant in Tokyo’s Roppongi neighborhood. Photo: Ariel Zambelich/WIRED TOKYO, JAPAN — Ken Shishido is sitting at the far end of the table, giving the lecture he always gives. As others listen on, he leans over two pieces of American money dating to the 19th century: a dollar coin made of silver and a paper dollar that, way back then, you could exchange for the same silver coin. More than a 100 years ago, he tells his audience of two, dollar bills were backed by silver — a precious metal that will always have value. But today, that’s no longer the case, he explains, as he pulls out a modern dollar bill backed by nothing but the U.S. government. The government can devalue the dollar at any time, he says, and one day, the dollar may disappear all together. This is why Shishido doesn’t believe in dol...

Full article: http://www.wired.com/wiredenterprise/2013/10/bitcoin-in-j...

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