The rise of the bitcoin: Virtual gold or cyber-bubble?

Bitcoin is an alternative currency service that’s taking the world by storm. Following the crisis in Cyprus, it’s seeing even more activity. Since its inception in 2009, the “on paper” value of Bitcoin transactions now exceed $1.4 billion. This virtual money has garnered quite a eclectic following ranging from antigovernment libertarians, computer wizards, environmentalists and even WikiLeaks.

But with this tremendous growth, is Bitcoin getting too far too fast?

Will governments end up regulating this alternative way of trading?

And lastly, does Bitcoin represent a threat to monetary stability as some say?

Proponents say it’s a medium of exchange that can’t be manipulated by any government, while detractors say the potential for fraud is pretty high.

Read more…

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