“Bitcoin has been making headlines for months. With the price fluctuating wildly, is it really a currency, or just a scam? To find out, we have to analyze its properties.  Gold and silver give us good examples of what properties make a sound currency, and bitcoins seem to measure up well. Will they ultimately outcompete the US dollar, gold, or silver? We can’t know, but with the Federal Reserve devaluing the dollar every day, it is only a matter of time before people start looking for an alternative currency.”

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