But we’ll suggest an alternative explanation: that Bitcoin is not so much an alternative currency as a “metacurrency” that allows low-cost and regulation-free transfer of wealth between nations. In other words, Bitcoin’s major competitors aren’t national currencies, but wire-transfer services like Western Union.
Bitcoin’s comeback: should Western Union be afraid?
There’s life in the old dog yet.
In the recent month, many and more reports emerged that proclaimed the death of Bitcoin. While the currency lost 90% of it’s value over the course of only 5 month, it seems to have stabilized itself and will be probably around for a while.
I never bought any Bitcoins, nor have I generated them. Still, I enjoy following up on its development. If only for all the mystery of its emergence and continued unpredictability.
