BitCoins

Google Bitcoins and you get many answers but in a nutshell its an electronic currency. What does that mean ? it means that you can buy just about anything without having paper money. The downfall is its extreme volatility but if you are a Cypriun, Greek, Spaniard or even Portuguese and have been hit by the recent European economic storm it might seem safer than putting it in a bank. One Bitcoin is currently trading at over $100 and there are numerous places for you to buy some. I will admit that yesterday I was very tempted to buy a couple but after thinking about it I found it too risky. Besides the volatility in value I am worried that some idiot will go ahead and hack the system since it is all electronic. The positive side of this currency is that it could lead to more stable world economy if its done right. It also has the possibility of making consumption stable. I am not sure Bitcoin currency will hold on but I see this as the start of a day when you and I will no longer carry Dollar bills, Yens or British Pounds in our pockets. I saw this article on CNNmoney.com about someone who is apparently trying to install Bitcoins atms in Los Angeles and Cyprus. To see the full article please click on the picture.

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