The Ottowa Citizen’s recent article on Bitcoin. The Citizen is one of the most respected newspapers in Canada:
“It’ll become a lot easier: usability will increase, safety and security will increase. There’s talks right now of making the wallet encrypted by default, things like that. So it’s going to go from computer nerd Linux version, that it’s like now, to an Apple version that my mom can use.”
But governments will have their say first.
Two U.S senators recently sent a letter to the attorney general and the DEA raising concerns about an online drug market called Silk Road. The only currency Silk Road accepts is bitcoins. Because of the difficulty of shutting down the market itself, message boards have been buzzing with fears that bitcoins would become a target instead.
Governments may have as little success stamping out bitcoins as they have had with illegal file sharing. A peer-to-peer network like bitcoin has no server to shutdown or ring leader to prosecute.
But for supporters, government fears are unjustified because bitcoin is no more anonymous or untraceable than cash. And many of them believe bitcoin’s spread is as inevitable as the Internet itself — and could be just as profitable.
“If we remember, 15 years ago if you were doing anything on the Internet you were going to make millions,” said Kenna. “I think it could be the same with bitcoin.”