The Bitcoin Bubble? Ctd

Apr 10 2013 @ 8:03am

A cool primer for those unfamiliar with the futuristic currency:

A reader responds to our previous post:

It seems the main way Bitcoins are used is for the Dark Web, that part of the Web that is unregulated and used by many folks to get unregulated materials. You can buy nearly anything there, from drugs to chemicals or other materials that you can use for good or nefarious ends. Bitcoins are used because they are a legitimate means of commerce that is not easily traced. And pegging the coins to the gold standard is one of the reasons for that. You can store your coins with a bank in Switzerland as an actual lump of gold and get that gold sent to you when you want to cash out. So, in a sense, it’s not like other currency.

I confess to being really curious about this other world of gold and less than legitimate commerce. My fantasies have turned it into something out of a Philip K. Dick novel. You can access this world safely and away from prying eyes – if you have the knowledge about how to do so. But I’m not going to dip my toe in.