Bitcoin’s Contentious Bid for Legitimacy

Instead of bringing clarity, an impressive price surge last week accentuated the differences within the financial industry about the future of the bitcoins. Opinions range from those asserting that we are witnessing the birth and maturation of a new global currency to those who argue that the phenomenon is a “fraud,” with a large middle either reserving judgment or arguing that it will last but currently may risk being in the midst of a speculative price bubble.

Your position in this debate will depend to a significant extent on where you come out on the following three issues…

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