Bitcoin is an online currency that has been around for approximately five years. It has been making news for the trading of illegal narcotics and attempting to revolutionize the world of finance. So clearly it has hit on the two opposite ends of the spectrum. Personally, this is the first time I have ever even heard of the term bitcoin, so either I'm poorly informed and I have been living under a rock or it is just a phase that will pass.
It was first described in 2008 and its success has been fluctuating somewhat since its inception. There are several negatives that I have been reading about that make me wonder if it's really worth the time. For example, there are already numerous risks that exist when participating in online transactions, so of course the same risks exist with bitcoin. Also the success on bitcoin is based solely on the idea that people are willing to accept that form of currency. Overall the currency seems very obscure and unless the demand for bitcoin drastically increases over the next decade, I don't feel that I will ever really have any use for the digital currency.
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