An economy is based more on the trust between the actors within it than on its medium of exchange or the goods and services being exchanged. Bitcoin doesn't address this aspect. Because fraud and collusion are still possible in a Bitcoin economy there exists the possibility of both currency instability and the creation and enforcement of monetary policy.
An irrational public can be just as damaging to a currency's value as an unwise central bank or government.
Regardless, I find Bitcoin to be a very interesting system and I'll keep tabs on its development.
An irrational public can be just as damaging to a currency's value as an unwise central bank or government.
Regardless, I find Bitcoin to be a very interesting system and I'll keep tabs on its development.