“On one side of the Bitcoin argument, this internet-based currency has some fervent backers – many of them tech-savvy youngsters. On the other side stand almost all reputable economists, together with a fierce range of vested interests – including the banks, credit card companies and other conventional players in the extremely lucrative money-transferring business. To them, Bitcoin is a cross between a dangerous irritant and a bad joke. To mention it in conversation is tasteless. To take it seriously is deeply suspect. Yet several events happened last week that made me suspect that Bitcoin – and the idea of ‘stateless’ currencies more generally – will soon catch the zeitgeist.”
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