The interesting thing about Bitcoin isn't what it is today. What's interesting is that this experiment is turning into a serious proving ground for the idea of "crypto-currency," digitally created currency protected by powerful cryptography.
Crypto-currency is traceable, more portable than paper money, and harder to steal. If the Bitcoin experiment proves successful, how soon will a government or other regime develop, back, and distribute crypto-currency as a true alternative currency?
My money, paper or virtual, says that day is coming.
A particularly evolved regime could officially back a crypto-currency, issue some basic standards and regulations … Read more