Bill Bonner: How I Explained Bitcoin to My 94-Year-Old Mother

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“Will it go up in price? We don’t know.  But what we like about bitcoin is the same thing the feds don’t like about it. They can’t control it. So, they can’t use it to steal from people. And they can’t use it to bail out their friends… support zombies… or finance pointless wars.  Nor can they use bitcoin to cover their deficits or to manipulate the economy.  But wait…  Why can’t the feds put their enormous computing power to work mining for bitcoin? That way, if bitcoin becomes the coin of the realm, they could still control it… with a huge reserve of their own.  Are they too busy spying on people?  Are they too thick to see the potential?  Are we missing something?”

http://www.bonnerandpartners.com/how-i-explained-bitcoin-to-my-94-year-old-mother/

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