Why Bitcoin (virtual digital peer-to-peer currency) is not a bubble

Technology Blog

A recent crackdown at Liberty Reserve by the NYC Attorney’s Office regarding an over $6 bn money laundering case once again puts the limelight onto  virtual digital peer-to-peer currencies and their legitimacy! Before this, bit coins were in news, with a highly inflated price and then steep reduction in valuation, from $288 to $168 within a week. Due to the high volatility of digital currencies and doubts as to their legitimacy, many pundits predict the current surge in these kinds of currencies is an accident waiting to happen (i.e. a bubble is about to bust)! In addition to this, experts add virtual currencies to a long list of alternative currencies that disappeared quickly over the several thousand years of human history!

On the other hand, these digital currencies, especially bit coins, are attracting big investors like Goldman Sachs, Morgan Stanley, UBS, Citigroup, and BlackRock as an investment option. VCs are also…

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