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Author Topic: 2012-06-12 slashdot - With Euro Zone Problems, Bitcoin Experiencing Boost In ...  (Read 934 times)
julz
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June 13, 2012, 07:05:59 AM
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With Euro Zone Problems, Bitcoin Experiencing Boost In Legitimacy

2012-06-12

http://politics.slashdot.org/story/12/06/12/2351203/with-euro-zone-problems-bitcoin-experiencing-boost-in-legitimacy


"Despite being used for drugs and beef jerky, Bitcoin is finding legitimate purposes. Bitcoin's decentralized convenience means international efficiency, in areas where local restrictions on money transfers to foreign companies make legal businesses cumbersome. 'I've been able to have cash in my bank account in a matter of hours using Bitcoin, rather than three days with traditional banking,' one British businessman in China told Reuters. In embattled Europe, Bitcoin offers some a viable alternative against central banks, said a Greek owner of an island bar and restaurant who accepts payment in Bitcoin. 'I don't put money in the banks. I trust the euro as a note, but I don't trust banks. I don't want them making money out of my earnings.' Indeed, Europe's financial woes are caused an unprecedented surge of interest in the alternative currency, as the continent loses economic credibility with each new bailout, according to a report by the Financial Post."

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Stephen Gornick
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June 13, 2012, 08:31:40 AM
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Bitcioin sure is getting a lot of mileage out of that story.

Too bad these stories are such: Framed not necessarily as Bitcoin gained such respect that it now can stand shoulder to shoulder among other currencies.

Instead, they are reporting as if the Euro has dropped so far and is such an embarrassment that even converting funds into bitcoin is considered a step up from the bottom.

i.e., they aren't doing us a favor.

Meh, free press.
Technomage
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June 13, 2012, 10:27:34 AM
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Stephen has a point but this is still a significant step up from getting most of our news from stories about hacked Bitcoin sites. So I'm not complaining. Smiley

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