In a recent article on BBC Finance the author "Constance Gustke" was asking "Does digital currency have staying power?". It then describes parts of BitCoin history whereas they were invented in the far away japan and the jerry's even have websites to trade BitCoin into other currencies, including the ones your bakery accepts. The list does not stop there and by now "Merchants, such as online dating site OkCupid, are slowly starting to accept the digital money for goods and services".
Reading this far one asks oneself; The damn currency was invented in 2009 and is in use ever-since - how did the BBC manage to avoid them for about 4 years? Surely there must be another meaning to this pamphlet. And - oh surprise - as we read on, "Tyler and Cameron Winklevoss" turn up which we know from a dispute over the origins of social networking with mr. Zuckerberg.
Apparently they are investing into a BitCoin-trust which is (or is said to be) "designed to operate like an exchange-traded fund — to the public.". It's key feature "exposure to Bitcoins with minimal credit risk" is used as intro into the volatile behavior of the BitCoin exchange rate.
And here, after stating that BitCoin would hinder growth and "even sophisticated financial thinkers have trouble understanding how it works" The article finally concludes to a series of interviews that mirror the worlds need for an de-centralised and anonymous currency.
It must be a hard time for some people to think that there could be tax you should have paid on something. Or the tears you help shedding based on missing atm transaction fees.
! Do not forget to take your steps to prepare. It won't be the manager who feels the missing money, formerly skimmed by the establishment.
One of the most amusing bits is the relay of advise from "Jonathan Waller, who runs a Bitcoin meet-up in Tokyo". Where he states that "investors and consumers should not put more than 5% of their money into the currency". It is nice to mention this, but if needed for the target audience of BBC Finance, future prospects are pretty dim.
In the end the article lists all the other crypto-currencies they have found on wikipedia and adds the myspace example of falling giants in an attempt to keep up the doubt.
We know who keeps BitCoin alive; WE DO. We miners, gatherers, chatters, start-ups and users of BitCoin gave it its value at the first place. As i have reported in previous posts this does not go down well with financial institutions who fear to be beaten in "their" game.
Be smart and head over to the Coin Collector tool to gather some free Bitcoins right now while the rest of the world is still puzzled.
Because i (though i should say we) believe that BitCoin has the staying power it needs.
In other news: I am sorry to have delayed the cookie version of the Coin Collector tool, though for experience and performace reasons the Tool will get it's own dedicated space. See you soon on http://www.coin-inc.com ! More news on this space.
Btw. the source of the mentioned BBC article.
Stay safe, and see you soon forum!
regards,
Tim
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