NEWS + ANALYSIS
MARTIN VLACHYNSKY

NEWS + ANALYSIS

BITCOIN: ESCAPE FROM CENTRALLY CONTROLLED MONEY

September 2, 2013 | by Martin Vlachynsky

Western governments resorted to unprecedented monetary interventions during the financial crisis. Quantitative easing, decreased privacy, capital controls, and criminalization of cash transactions have forced people to search for better money. Fortunately, they have potential alternatives. Many are looking to Bitcoin or similar cryptocurrencies. Bitcoin permits anonymous transactions through PCs and mobile phones without a financial intermediary. It is not real money – yet. So far it is mostly a club game for computer geeks, parts of the libertarian community, and a small number of dealers in illegal goods. But it could grow to something bigger because it serves the demand for a sound money that is beyond the manipulations of politicians and central banks.

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