|
|
Bitcoin has had about a 64% rally recently
which is not surprising given that more and more people are learning about
its existence and circulation as a new P2P anonymous digital currency. The
massive viral effect of a P2P digital currency have now kicked in and it
seems as though a new merchant or a new exchanger emerges daily. As of
October 19th, 2010, total Bitcoin in existence equalled 4,315,250 with 86,305
Bitcoin blocks generated (source: Bitcoin Exchange).
One such exchanger, Mt. Gox,
does an excellent job of tracking and charting the USD:BTC exchange rate on a
daily basis:
Trading volume at Mt. Gox set new records during
early October 2010 and you can still follow some of the action and comments here.
Issuing statistics and some of the leading exchangers can be followed at Bitcoin Watch.
The exchanger Bitcoin 4 Cash
bills itself as "the premier Bitcoin dealer
that respects anonymity" and the BitCoin/MetalCoin
Exchange will trade Bitcoin
for gold and silver coins. BitcoinFX provides two-way exchange for Bitcoin into
Liberty Reserve. In Alabama, Bitcoin2cash will provide Bitcoin for cash sent in the
regular mail and vice versa, which is financial privacy in its rawest form
(the bid/ask spreads are wide at 25/200, but I respect these guys!). And
finally, another interesting exchanger to follow is the Finland-based Bitcoin Exchange,
which has an excellent statistics section. Needless to say, Bitcoin deserves serious consideration as we move into The
Monetary Future.
For further reading:
"A Short Introduction to Bitcoin - A Peer to Peer Cryptocurrency", Bluish Coder, October 10, 2010
"Bitcoin
Electronic Currency: The Future of Money", Elliott A. Prechter, Elliott Wave
International, September 2010
"What
are Bitcoins?", Quezi, July 22, 2010
"Is It Time For Digital-Only
Dollars?", Phil Maymin,
Hartford Advocate, July 8, 2010
"BitCoin
and the 'Wild West'", Niklas Blanchard, Modeled Behavior, June 30, 2010
Jon Matonis
The
Monetary Future
Jon Matonis is an Austrian School economist
focused on expanding the circulation of nonpolitical
digital currencies. He argues that what is about to happen in the world
of money is nothing less than the birth of a new Knowledge Age industry: the
development, issuance, and management of private currencies.
|
|
