The Truth about Bitcoin and Alternative Currencies

Bitcoin has been making headlines for months. With the price fluctuating wildly, is it really a currency, or just a scam? To find out, we have to analyze its properties.

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Steve Patterson writes:

Bitcoin has been making headlines for months now. Extreme price fluctuations have sparked a vigorous debate: Is it a currency or a scam? Is bitcoin viable in the long-term, or are we witnessing a bubble waiting to burst?

The answers to these questions are simple: Yes, bitcoin is a currency, but we cannot know if it will remain so in the future. It does, however, have many properties that might make it viable in the long run.

Read more.

You may read more about this subject in Patterson’s book Bitcoin Beginner. To learn more, visit: http://www.fee.org/the_freeman/detail…, and to learn the basics of Bitcoin, visit:http://www.fee.org/the_freeman/detail…

EDITORS NOTE: The featured image courtesy of CASASCIUS. It is titled “Bitcoin banknote” and is licensed under the Creative Commons Attribution 3.0 Unported.

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