Euro Fears Drive Wealth Into Virtual Currency
Posted by Terra Nova [HTML][XML][PERM][FULL] on 11 June 2012, 1:08 pm
According to the Financial Post, as confidence in the Eurozone falls, purchases of Bitcoins originating in Eurozone countries is rising. It's a correlation. But perhaps indeed some people are seeing the Bitcoin as a safe haven. You wouldn't put it in Facebook Credits, because of the exorbitant cashing-out fee of 30%. This is another instance of completely normal economic behavior - switching from risky money to safer money - that nonetheless seems weird because the allegedly safer money is generated by a software program and has nothing to do with the real world. But what, after all, does the Euro...

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