Perhaps it's one way of
liquidating banksters by at least the year 2140. OTOH, our descendants will all be wearing wellies to visit the Atlantic beach in Atlanta
Rand Paul is first presidential candidate to accept donations in Bitcoin
It marks the first time that a candidate for president has accepted purely digital campaign funds.
The Libertarian Republican is an obvious choice to test the waters. Bitcoins are an independent currency that's totally outside the realm of U.S. dollars. It's like Euros or Yen -- except bitcoins are created and distributed privately by a community of tech enthusiasts.
Bitcoin fits in with Paul's views that government should take a more "hands off" approach to controlling the nation's money supply, which drives up inflation and devalues the currency. He's also likely trying to draw the attention of young, tech-savvy voters.
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The list of things that could kill Bitcoin is long.
First, the technology might not be up to the task. There was a scare this month when attackers exposed the complexity of the underlying software and exploited some of its quirks to halt withdrawals temporarily from the major Bitcoin exchanges.
Second, regulators might strangle innovation, fearing criminal activity, or governments might strangle Bitcoin altogether, fearing competition for their sovereign currencies.
Third, and perhaps most likely, it could be killed by competition. Nakamoto’s code had already been copied several times over the past five years, before the hype in 2013 prompted dozens more. And Bitcoin has to contend not only with copycats but with satires.
In December, Jackson Parker and Bill Markus created Dogecoin, the first virtual currency to be based on an internet meme. They created tens of billions of Dogecoins and what started as a joke is finding currency as a means of making small tips to bloggers and others whose internet content a user wants to reward.
And still the jokes keep coming. Dogecoin now has its own copycat, called Catcoin.
Banks are finally fighting back, too, with innovations like depositing cheques by photographing them and payments via mobile phones. Startups like Dwolla and Square are rolling out online payments systems to rival Visa and MasterCard.
Fiat Money