Bitcoin is smart money, it requires zero trust

Photo-by-Seto-[Exeter]

Photo-by-Seto-[Exeter]

I had the great pleasure of discussing bitcoin with Reggie Middleton, founder and editor of the Boom Bust Blog. Reggie defines bitcoin as a zero trust product. He describes the strongest quality of bitcoin as being programmable and compares it to with the USD, which he describes as dumb money. Reggie thinks that looking to the future, bitcoin will play a much greater role in global transaction and points out that just like the early days of other currencies, it is volatile, and will stay this way until derivatives are created. We discussed: Wall Street entering the crypto currencies game, possible manipulation and engineered movement and bitcoin as a replacement to retail banking. Reggie is attempting to re-build the international banking system using bitcoin, creating products that will allow investors to short and hedge. He believes that it will allow to take some of the volatility out of the crypto market. The public beta should be ready around the end of January on Intelligent Currencies. Follow Reggie @ReggieMiddleton

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