To Bitcoin a phase…

Bit coin’s not dead! And it might even survive to become part of ‘the system’.
Bitcoin has so far survived: persistent attempts to smear it by association with the Silk Road website (because US dollars have never been used for anything naughty have they), central bankers sniggering down their sleeves at it, exchange problems and price crashes. It seems as though it’s the tide may be turning as some high profile coverage attests, and the crypto-currency may be gaining a degree of respectability.

No less a person than Ben Bernanke acknowledged the fledgling currencies existence as an “area of … concern that require[s] heightened attention by the banking organisations we supervise.” I think this is a fairly clear shift from a discredit / shut-it-down approach to a bring-it-into-the-fold tactic. As with the early anarchism of the internet state and corporate involvement might serve to nullify the existential threat to central bank paper money.

One to watch as ever.

FUN FACT! The main Bitcoin exchange ‘MtGox’ was originally for exchanging stuff from the online game ‘Magic the Gathering‘! I predict this information will be useful for pub quiz contestants in around the year 2037.


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