Tuesday, February 25, 2014

Bitcoin Magazine publishes "A World Currency - Not a New Idea"

Bitcoin Magazine asked if we could do an article adapting our post on the January 1988 Economist article predicting a future World Currency for their readers which they published yesterday.

With the problems coming out yesterday about the Mt. Gox Bitcoin exchange they are having some tough times in the Bitcoin community. We appreciate the folks at Bitcoin Magazine being willing to publish our articles even though they do not promote the use of Bitcoin.

They deserve credit for being willing to expose their readers to various points of view. That is what a good media source does. Provide a variety of views and information in an effort to educate readers. As the situation at Mt. Gox shows, the more information people have, the better. Forbes Magazine wrote this article about a small silver lining for those who may have lost money at Mt. Gox. The losses are at least tax deductible according to this article.

So again we say thanks for allowing us to post an occasional article there as a guest writer.

We express sympathy for those who may have lost money at Mt. Gox. It does show why anything used as a money or currency has risks. Trust is everything for any currency, even the US dollar.

We will continue to cover Bitcoin here to see how it proceeds from here.

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