24 Jan '14, 4pm

Bitcoin Is Not Yet Ready for the Real World

Andy Clark/Reuters Some retailers have started accepting Bitcoins. Mark T. Williams, a former commodities trading floor senior executive and Federal Reserve Bank examiner, teaches banking, finance and risk management at Boston University School of Management. It is understandable why some in the venture capital sector are over the moon about Bitcoin and its endless possibilities. Marc Andreessen of Andreessen Horowitz, has about 50 million reasons why he wants Bitcoin to succeed. The only problem is that Bitcoin is a concept dreamed up in the virtual world and is not yet ready for the real world. Bitcoin technology and its lower-cost payment system design may be elegant but that does not mean it should be blindly embraced and adopted. The payment system and Bitcoin as an e-currency can’t be divorced from each other. Before Bitcoin becomes a regular and reliable method for ...

Full article: http://dealbook.nytimes.com/2014/01/24/bitcoin-is-not-yet...

Tweets

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finance.fortune.cnn.com 24 Jan '14, 5pm

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forbes.com 01 Feb '14, 1am

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Bitcoin’s three key challenges in 2014 via @WSJMoneyBeat #bitcoin

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blogs.wsj.com 24 Jan '14, 6pm

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Bitcoin

dealbook.nytimes.com 21 Jan '14, 4pm

Keith Bedford/Reuters Marc Andreessen, a co-founder of the venture capital firm Andreessen Horowitz. Editor’s note: Marc A...