Monthly Archives: November 2013

BitCoin Enters Mainstream Consciousness

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Bitcoin goes MainstreamYesterday, November 18, 2013, BitCoin entered mainstream consciousness.

“Bitcoin” was the most searched for word at Google. When the world is searching for information at Google, the World is waking up to BitCoin.

At the same time, the U.S. Congress held hearings on Bitcoin. Overall, the hearings were positive for BitCoin in that concerns about “security” were overshadowed by technical innovation.

By the end of the night, Bitcoin topped at $900 USD – a number barely thinkable one year ago when the price was in the single digits.

Source: Washington Post

That’s been the tenor of the entire hearing so far. All three Obama administration officials expressed concern about Bitcoin being used for illicit uses. But they also stressed that Bitcoin has important legitimate uses and that regulators need to be careful not to stifle innovation in virtual currencies. And they seemed to believe that the situation was under control, and none asked for new regulatory powers to crack down on illicit uses of the currency.

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