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That's all changed. Bitcoin has emerged as functional currency and has spawned a speculative investment market.
There were lots of reasons to get excited about Bitcoin in 2013. For people concerned about the state of surveillance, it offered anonymity. For people who looked around the world and saw fragile nation-states and failing economies, it promised an alternative means of exchange unbound by borders, regulations, or monetary policies. And for people looking for to make investments in a time of massive technological change, it seemed like the currency of the future: Commercial transactions increasingly happen online. Physical cash and the currencies based in it were starting to seem like outmoded relics.
Forget central banks and ineffective governments. Forget the National Security Agency (NSA) and the UK's Government Communications Headquarters (GCHQ). Let’s just meet online and use Bitcoin, right?
...
That's all changed. Bitcoin has emerged as functional currency and has spawned a speculative investment market.
There were lots of reasons to get excited about Bitcoin in 2013. For people concerned about the state of surveillance, it offered anonymity. For people who looked around the world and saw fragile nation-states and failing economies, it promised an alternative means of exchange unbound by borders, regulations, or monetary policies. And for people looking for to make investments in a time of massive technological change, it seemed like the currency of the future: Commercial transactions increasingly happen online. Physical cash and the currencies based in it were starting to seem like outmoded relics.
Forget central banks and ineffective governments. Forget the National Security Agency (NSA) and the UK's Government Communications Headquarters (GCHQ). Let’s just meet online and use Bitcoin, right?
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