"Casares, though, believes the downturn will be short-lived as the virtual currency gains attraction in areas with unstable monetary situations." I would think these 'areas' have governments the same as China. If bitcoin gains real traction it will be interesting to see how governemts respond. Can anyone see it becoming a reserve currency? How could governments continue to function if they lose their currency? What about loss of capital controls, tax control? What about international trade? All uncharted territory... Just some thoughts.
MEJ Price at posting:
6.4¢ Sentiment: None Disclosure: Held
