27 Sep '12, 2pm

New Bitcoin Foundation aims to bring legitimacy to digital currency

I think they’re missing a couple of somethings in their list of challenges. First, explaining what problem BitCoin really solves. Second, explaining how they’re a real currency and what controls and protections they have as a real currency. My understanding is they want this to be a true digital currency. That’s well and good but first why does the world need BitCoin in addition to Dollars, Euros and other world reserve currencies? And if it’s a real currency, what are the protections and controls in place around fraud, counterfeiting, speculative manipulation etc? What’s going on with the Euro right now shows that a currency is a very, very serious thing with huge ramifications and so requires a very serious foundation of trust and fiduciary responsibility and controls. BitCoin seems neat and all, but it seems like the Esperanto of currency. A nice idea built on great ide...

Full article: http://www.geekwire.com/2012/bitcoin-foundation-aims-brin...

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