11 Oct '12, 3pm

Adventures in Alternative Currencies: Bitcoin Goes Mainstream #bitcoin #fiatmoney #currencies

Continuing on with our series covering adventures in alternative currencies , many were quick to proclaim the death of Bitcoin , particularly following the June 2011 bursting of the Bitcoin bubble . For example, here is some doomsaying from the normally reliable Tyler Cowen; and for a pessimistic economic historian's take see here . But following an undeniably rocky road the little digital currency that could appears to be having the last laugh. A good read can be found here on how Bitcoin is beginning to go mainstream. At this stage the obvious first question is why has the decentralized, 100% digital currency proven so resilient? Scientific American provides one good answer: When they (a merchant) finalize a deal in Bitcoin, they do so knowing that the transaction can never be reversed. The Bitcoin network doesn't edit its ledger. As such, merchants no longer have to wor...

Full article: http://www.polycapitalist.com/2012/10/adventures-in-alter...

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#Bitcoin Has Officially Gone Mainstream #virtua...

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