Bitcoin fever!!! I was paid about 8.7 bitcoins a couple years ago for articles I wrote for dailyanarchist.com. Their total value was about $70. Today, the value of each bitcoin is $195. My 8.7 bitcoins are worth $1700.
We may be seeing the emergence of a new money. Think of the advantages — no transaction costs. Setting up an account takes a few seconds and no paperwork whatsoever. Mastercard and Visa take 3% from merchants. Imagine bitcoin merchants passing this savings onto consumers.
There were some libertarians who went into bitcoins very early and very big. If bitcoins emerge as money they will become Rothchild rich. We have yet to see major attacks from governments. Surely, they will come. But how can they possibly succeed? There’s nothing for them to effectively strike.
It is much easier for government to stop gold than to stop bitcoins. This may be why there is already a developed bitcoin market, while there’s no such dynamically growing market for gold.
Bitcoins will tear down the fiat system. Gold may replace bitcoins in the distant future after the fiat system is long dead and buried.