The concept of BitCoin is one that, to me, seems very counter-intuitive. The idea that we can buy what is essentially money, with actual currency that we already own initially strikes me as kind of ridiculous. Unlike the currencies of any world countries, bitcoins are completely virtual. They exist only online and are not controlled by a central authority like the Federal Reserve. That means you can’t get them from a bank, or drop them in a wishing well. All transactions take place in an online marketplace, where users are untraceable. You hold bitcoins in an online “wallet.” This is an account set up on a secure third-party website. Like cash, bitcoins are untraceable, which makes drug dealers like them. Unlike cash, however, bitcoins can easily be transferred anywhere in the world. For now bitcoins are legal, so long as they’re being used for legal purchases

It seems like everybody has a different opinion about BitCoin, which is why I feel like there will be a lot of material to talk about and debate.

Sources:

• The Bubble Bursts On E-Currency BitCoin
• BitCoin Has No Place In Any Portfolio
• What Are Bitcoins? Virtual Currency Explained
• Bitcoins: Benefits and Risks
• What is BitCoin?
• Is Bitcoin the Future?
• Bitcoin – New Money