Saturday, April 30, 2011

Peter Gordon has thoughts on Bitcoins

Mostly good I think.
Here is another twist to Bitcoins, they exist in your smart phone and are traded in most major currencies. Thus, no matter where I am, I can select a good priced in one currency and purchase the good with another currency. The only requirement is that both parties have access to the web.

Bitcoins thus enable the George Selgin concept of competitive banking.

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