NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, November 26, 2013

There are all kinds of reasons to think that Bitcoin is a joke, and that the value of the bitcoins themselves will ultimately go to zero. It’s inherently unstable as a currency, prone to hyperdeflation, has an artificial scarcity, and is subject to hoarding.

But there is one important thing about Bitcoin that its advocates correctly identify. As a payment-processing platform, it’s very intriguing.