2013-08-25 The Federal Government's Reaction To Bitcoin Is An Acknowledgement.

[zakoliverz]

http://www.forbes.com/sites/peterferrara/2013/08/25/the-federal-governments-reaction-to-bitcoin-is-an-acknowledgement-of-the-dollars-vulnerability/

The Senate Homeland Security and Government Affairs Committee has private alternative currencies in its crosshairs.  The Chairman, Senator Tom Carper (D-DE) and Ranking Member, Senator Tom Coburn (R-OK), sent a joint letter to seven federal agencies last week asking for feedback and policy proposals for regulation of virtual currencies, like Bitcoin.

[Bitcopia]

Jim Cramer was quite wrong, and trite, when he appeared on a CBS TV show to say that Bitcoin is not a true currency, because there is no central bank to regulate it.  Currencies do not need regulation by central banks to function as true currencies.  Central banks need regulation by markets to keep their currencies functional.

Face palm of truth Mr. Cramer.