Bitcoin, in case you've been off grid, is all the rage. From rising public usage, to growing daily trade volumes, to rapidly increasing institutional investments, this relatively new form of currency as been billed as the game changer for just about every aspect of global monetary policy. But does this “cash killer” really live up to its billing? The thesis of this post is a resounding no.
In brief, bitcoin is a form of virtual peer-to-peer currency that is not issued or controlled by an authority, such as a central bank or massive online player game company.