Thursday, November 17, 2011
After reading the article about the new electronic currency called "bitcoin" I was intrigued and slightly frightened by this concept. Money that is transferred strictly by code without having to identify the origin of the currency sounds a little sketchy. This makes it very easy for criminals to illegally transfer money without being identified. The article even said there was a website where people could buy and sell illegal drugs only by using bitcoin. Overall, bitcoin is a cool concept, but it could lead to a lot of problems, probably many more than it would fix.