What are Bitcoins? And Are They a Threat to the Monetary System?

Monday, May 23, 2011

A new peer-to-peer payment system called bitcoins allow people to use currency online without being taxed, tracked, or subject to the regulation of governments or banks. Internet entrepreneur and host of the "This Week in Startups" podcast Jason Calacanis says they are "the most dangerous open-source project ever created," and that they threaten to "change the world unless governments ban them with harsh penalties."

Produced by:

Max Bernstein

Comments [5]

lamont Cranston

Woah folks,

He was legitimately repeating the reports - Bitcoin has been called the most dangerous project since the internet itself. It does have a lot of very good features, but, like cash, cars, the US Mail and pay telephones, it can be used to commit crimes.

Now that Schumer is trying to conflate bitcoins and drugs, we can see where that meme is going.
is Bitcoin going to be a major player, or just the future of online gaming tokens? I don't know, I own a few, and have seen my "net value" skyrocket. I suspect it is going to crash equally spectacularly. then settle into some reasonable amount. Right now the rocketing exchange rate is killing it as a trade currency, and the coming crash makes it unwise as an investment.

Jun. 09 2011 06:31 PM

Perhaps this site may help you before you embarrass yourself further:


I'd expect a modicum of research on a topic before opening your mouth about it, Mr. Hockenberry.

May. 30 2011 04:25 AM
Zell Faze from Eastern USA

Hey Mark. I am probably the most liberally minded man you will ever find. I love bitcoin. It is a great idea.

Not all liberals want taxes out the ass, just like not all conservatives think that no one should feed the poor.

May. 24 2011 08:29 AM

Giving in to rank sensationalism is not the same as news reporting.

Please educate yourself about bitcoin before repeating the last dumb thing you've heard flying by on the internet.

May. 23 2011 12:08 PM
Mark from Bronx

I don't know why this subject had to be distorted in such a manner. I guess liberals will find anything threatening if it can't be taxed.

May. 23 2011 08:37 AM

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