Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Wednesday, May 25, 2011

New Form of currency - Bitcoins

Earlier this year in my post titled: "Ideal form of money - Power to the People", I posted how the current money system is doomed, and a new form of money is required. Well today I discovered an evolutionary step towards this future .... bitcoins. (click)

I haven't fully absorb how the system works, and I doubt that the way bitcoins today works is fully flushed out to replace modern currencies....but the mere fact that others are driving to find new currencies is very encouraging. Bitcoins even have an currency exchange! 5 Million USD traded in the last 30 days. (It's a start!)

Below is a short video, that obviously can't answer all questions. In the weeks to come, I'll post more about bitcoins and I'll assess how it matches up to my post from January.

It is only a matter of time that a new, decentralized, people driven (rather than government driven) currency materializes. When that happens (10 years+ from now?) the world will be a better place for the bottom 99% of the wealth population.

Thanks to Eric for the link!

No comments:

Post a Comment