Bitcoin, the Esperanto of currencies
September 2, 2015 9:21 pm
IF Bitcoin adherents were to be believed, the decentralized, all-digital currency would have, apart from answering all the world’s other thorny economic questions, prevented the wild volatility now being experienced by normal, boring old fiat currencies around the globe.
Obviously, that has not been the case. Bitcoin and the handful of other ‘viable’ digital currencies still in existence have had precisely zero impact on conventional financial systems, and if Bitcoin appears at all on the mainstream media radar, it has usually been because it is the focus of some sort of criminal ac-tivity. Over the past month on the Agence France-Presse (AFP) wire service – which typically posts be-tween 100 and 150 news advisories per hour, of which about one in five are business- or economic-related items – Bitcoin has only appeared three times, each being a story more appropriate for the police blotter than the business pages; the most recent was Tuesday evening, a brief, 300-word report on the guilty plea of a former Secret Service