A video that shows that people using Bitcoins for currency in New York. I honestly didn't think people would trust this system enough to actually openly use it in the U.S.
wowzers!
Link:
http://money.cnn.com/video/news/2013/04/12/n-bitcoin-bar-beer.cnnmoney/index.html?iid=HP_River
I thought this report was really cool! I love the idea of using bitcoins for convenient everyday transactions. Imagine if starbucks or mcdonalds decided to accept bitcoins. I bet the popularity of the currency would skyrocket.
ReplyDeleteI can see the benefits of using bitcoins for everyday transactions; they're fast and convenient, but it just doesnt sit right with me. Their are no regulations, I feel like the bitcoin can easily be tampered with and it's just not stable.. I simply don't trust it.
ReplyDeleteSuper interesting video! I am amazed that commercial businesses are starting to use bitcoins. Something we discussed in class as being crazy is really starting to happen in places like New York. Though they are convenient and fast there is zero regulation or oversight. The banker interviewed from Societe General made some very valid points about the risks that come with using bitcoin. For now, I'll keep my money in the bank and stick with US currency.
ReplyDeleteI think it's cool that bitcoins are becoming more mainstream simply referring to the fact that a new form of currency is able to be used in the US. However, I agree with Ryan in that I don't trust them because of the no regulations and general shadiness of them.
ReplyDeleteBitcoins are cool and everything but really, we're not even sure exactly what they are. These bitcoins restrictions are a little too vague and therefore even if they are useful I don't think if I used them I would ever feel 100% comfortable.
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