Newsweek Found the Face of Bitcoin - Sort Of
Today Newsweek posted the cover of their first print issue in a little over a year. The cover story claimed they found the inventor of Bitcoin. The problem is the guy they found said he didn’t do it.
Here’s a story I wrote for Newsy today on the matter:
Digital currency’s a strange concept because it seems to be as viable as any commodity - gold, silver or red apples. It works. But then someone figures out how to hack it. Last week Mt. Gox disappeared after they somehow lost a ton of money over the course of several years and didn’t notice. I won’t remark on how strange that sounds, but here’s another video if you want more information.
I like the idea of digital currency. It’s much easier to trade internationally than regulated, government money. Bitcoin advocates say it’s as easy as sending an email. It also seems to offer some hope for a non-fluctuating currency. Assuming the program works correctly, there would be a finite number of Bitcoin...Period. That would potentially make them a safer bet than the dollar.
Though charts like this make me nervous:
I like the idea of an easily-accessible currency governments don’t control. I just don’t think Bitcoin is stable enough at this point to be adopted widely.