Letter: On Bitcoin
Gold trades at $1240. Bitcoin is trading at $1214.
Now that it has reached the price of gold, Bitcoinity.org compares the micro Bitcoin, mBTC, to the dollar. 1 mBTC is worth $1.21 today.
Bitcoin is popular because it can’t be inflated, it can’t be taxed, it allows users to be anonymous, and it has a fraction of the transfer fees of a Visa card.
Some who bought and held Bitcoin early are millionaires today. Ben Bernanke addressed Bitcoin in a recent meeting with Congress. Everyday people are developing ways to shop, fly, even pay rent with Bitcoin.
If it weren’t for Edward Snowden and the NSA, wouldn’t Bitcoin be the story of the year?
Yup … Go Bitcoin! Screw the federal money printers.