April 12, 2013

By Nolan WeberSenior EditorThere is a new crypto-currency competing against the established monetary order--a digital dollar if you will: bitcoin. It is completely decentralized and has seen a meteoric rise in value. However, do not be so quick to detract its value or tout its potential. This week, I assembled some interesting reading that lends insight into the Digital Age's dawn of an idiosyncratic medium of exchange.Never heard of it? Bitcoin gets explained with brevity in its front page debut on the financial times.Although, Gerry Smith at the Huffington Post seems to burst the libertarian dream with his prognosis on the currency's susceptibility to hacking.CNN rides the establishment's wave of criticism.Even the libertarian-oriented Mises Institute favors a more traditional mode of exchange.Yet for all its detractors, we can see the anarcho-capitalist crowd loves bitcoin. In this video, one can get some insight into bitcoin's potential from the perspective of a supporter, Professor Jeffery Tucker.Even the Libertarian Party is now accepting as a form of donation.It even has its own strain of conspiracy theory developing. Nevertheless, Mike Adams makes some interesting points worth considering.Photo by Trader Tim