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Posts : 12586
Join date : 2013-01-16
Age : 64
Location : Seattle

PostSubject: Bitcoin    Mon Jan 04, 2016 8:47 am

Latest episode I watched on Morgan Spurlock's "Inside Man" was all about Bitcoin, the digital currency created in 2009.  It bypasses all central banking, being a peer-to-peer currency, and its value fluctuates with demand.  Though a long way from becoming universally accepted, more and more places are starting to accept Bitcoin.

In February 2014 the largest Bitcoin exchange collapsed, taking with it some $450 million in value.  Nobody knows how this happened, or why, or where the money went.  Is it just one big Ponzi scheme?  Nobody knows.

Who created Bitcoin?  Nobody knows.  Google Satashi Nakamoto for some interesting reading.

Is it the future of banking?  The next Wall Street collapse, scheduled for July 2016, may determine whether a critical mass of Bitcoin users is achieved, allowing it to supplement and/or replace the national currencies of the world which are, increasingly, subject to boom-bust cycles due to rampant corruption in the regulatory systems.
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