Why Bitcoin Is Better Than Other Currencies
Bitcoin may be the "it" currency right now, but, truth is, people have used all sorts of odd things to buy and sell goods, from bones to gold to tulips to Deutsche Marks.
The question is, will Bitcoin last like gold, or fade like tulips?
The Foundation for Economic Education produced a neat video that seems to suggest Bitcoin is here to stay, at least when you look at what properties a sustainable currency needs. In fact, Bitcoin looks a lot better than the greenback.
It's uncertain whether it is a fad or the way the world will trade goods and services. But, after watching this, you can't help but have a lot more faith in Bitcoin than in fiat currency.
Ray Hennessey is the former editorial director of Entrepreneur.