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Author Topic: 2013-06-25 TheCourier : Don’t Bank On Bitcoins  (Read 584 times)
bobdude17
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June 25, 2013, 10:14:26 PM
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http://www.thecourier.co.uk/lifestyle/entertainment/digital/an-internet-based-currency-may-sound-appealing-but-don-t-bank-on-bitcoins-1.106080
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June 25, 2013, 11:20:11 PM
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We're looking in the "lifestyle/entertainment/digital" section of a newspaper where we find FUD memes like Ponzi, SR, commodity not currency, unstable, Russian mafia, hackers, villains.... the usual.

But wait - this isn't some hack journalist. An academic expert is on hand.

Simeon Keates brings these creds:

"Professor Keates' principal research interests lie in making products and computer applications more accessible and usable by as many people as possible. Specifically he is interested in methods and tools for helping designers and managers develop products that achieve this aim.  Simeon is a prolific author, with over 100 peer-reviewed publications, 3 edited books and 2 authored ones."

http://www.abertay.ac.uk/research/schools/secam/secamstaff/profsimeonkeates/

... and he is quoted as saying:

"There is a reason we use the money that we’ve got and that’s because, of all the systems we’ve tried, it is the least-worst way of doing things."

“The idea of a new currency that taps into the borders-free ethos of the internet is appealing. But new monetary systems do not catch on easily. We’ve been here before with the gold standard.”

It might be fun to revisit that quote in a decade or three.

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