ABOUT BITCOIN

ken down into two areas: viability as a currency and as a trading vehicle. As a viable currency, I’m excited and fearful for it. I love the thought of taking the power away from our government and the Fed’s ability to print money into infinity. On the dark side of it, Bitcoins can be used to hide large transactions from governments which really opens the door to black market activities. It's far too young for me to get involved in Bitcoin in my own life as I fear that global governments will try to shut it down as they will be losing billions in tax revenue if Bitcoin gets really big.

As a trader, it offers some incredible opportunities. Price fluctuations have been all over the map recently. In the last 2 months Bitcoin has risen nearly 100%, prior to that it fell 55% in 2 months, in April it fell from 81% in 6 days! This volatility is incredible and, if you’re on the right side of the trade, can be very profitable.”

Merlin Rothfeld
Power Trading Radio Host and Instructor at Online Trading Academy Twitter
“Bitcoin might have an inflationary or deflationary effect. It's too early to be sure which way it might influence monetary aggregates and velocity of circulation. It could expand the de facto money supply and could increase or decrease the velocity of circulation of the supply of fiat money and near-money.

Bitcoin might bring back Gresham's Law by driving out inferior or "bad" money. Central banks fight deflation by putting more fiat money into circulation. Consumers and businesses then spend it and raise the demand for goods and services. That creates inflation. That policy hasn't worked very well since 2008 because the consumers and businesses have been so cautious. They have held onto money instead of spending it.”

Dr. John C. Edmunds
National Economist and Financial Reformist Website
“My thoughts on Bitcoin and the other currencies is that they ought to be legal unless there is fraud involved. The government should not get involved in regulating private money if there is no fraud. I do not take a position on Bitcoin and other proposed currencies in a technical fashion, but I understand the political ramifications of them, and I think that government should stay out of them and they should be perfectly legal, even though I don't endorse (technically) one over another.” — Quote from Reddit.com

Ron Paul
American Politician Twitter
“F.A. Hayek, the famous Austrian Economist, was a strong advocate of competing currency systems developed by the free market, and then letting the buyers/sellers in global markets choose which will become credible and dominant as medium of exchange and store of value to facilitate trade. The US Dollar, established in 1913 with absolute control over Central Banking duties for USA, has lost over 97% of its purchasing power parity. I call the Federal Reserve Notes system a dismal failure. I hope the Bitcoin model, which was created by the powerful innovative free market system, will earn serious traction and acceptance as a global alternative digital currency model, and will compete with all fiat currency systems. The power of Bitcoin is that no central bank can print Bitcoins and dilute its purchasing power parity.”

John O'Donnell
Chief Knowledge Officer, Online Trading Academy Twitter
“The Bitcoin industry has been rife with scams and thefts, so it's hard to believe that the currency will be able to sustain itself over the long term. Even though there are some who claim Bitcoins are the currency of the future, I just don't see it. It has also been linked to drug trafficking and illegal gambling. I see it as a fad and nothing more, and as more people lose real money because of the legal issues surrounding Bitcoin, I eventually see it fading from existence.”

Andrew Schrage
Founder and CEO of Money Crashers Personal Finance Website | Twitter
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