Bitcoin is an international peer-to-peer currency. Just what is it – and where is it going? This video explains the basic idea:
Much of the appeal to using these is the supposed ‘anonymity’ that can be achieved by using them. Unless this can be rendered ineffective by regulators, the Bitcoin business will be brought down one way or another. If a compliance with money laundering and tax laws can be worked out, there is the potential that Bitcoin could mature to take its place alongside established currencies. The big selling point is of course the fact that production of Bitcoins is strictly limited according to a publicly available formula. So called ‘quantitative easing‘ the rampant printing of money by governments has been resorted to frequently in recent years.
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