31 Oct '13, 8am

US to lose out if it keeps stiffening Bitcoin regulations

US to lose out if it keeps stiffening Bitcoin regulations

Wait a minute. Everything relies on traditional hard currencies to calculate value. That doesn’t make bitcoin different from anything else, everything has a price in real currency. Really it’s formulated to be an alternative currency and there is no reason why it can’t itself become a means of calculation, so you can do your accounting. In fact, people do this all the time. You can enter into bitcoin sphere and live a wonderful life. Look, I know it’s difficult to understand, and if you don’t understand it, you shouldn’t feel alone. Economists of the Federal Reserve, of the Treasury and overall Academia do not understand it either. It’s one of these wonderful market innovations that shocked everybody.

Full article: http://rt.com/op-edge/us-bitcoin-technology-economist-978/

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