The Wall Street Journal ran a large story today on the yes and no for the future of Bitcoin. Campbell Harvey sees some of the problems this method of payment will solve:
Allow online transactions without worrying that personal data will be compromised.
Anyone with cellphone or internet connection can execute seamless transactions
International remittances carry trivial fees compared with the 10 percent charged by current firms
Transaction fees for merchants are minimal
And there is no inflation risk. He goes on to say that it is true that Bitcoin is not backed by any central authority.That does not matter. Bitcoin exists because users assign value to it. He says the most exciting thing about BitCoin is the technology behind it, the block chain. www.wsj.com for more information.
Bitcoin back in news
March 2, 2015
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