Nice post simplifying what bitcoin is and does, Professor. Only a simple query: Say I am a automotive supplier, and think if I used to be to just accept 10 bitcoins for a specific automotive, would the value of these 10 bitcoins change with the change in price on the alternate? 25000 dollars as we speak, but when there's no certainty as to what it's value tomorrow, why on this planet would this be a official currency? Very informative and concise rationalization of cryptocurrencies. So far as I can inform, the principle beneficiaries of cryptocurrency transactions are those that are attempting to keep away from the legislation. Maybe that isn't a nasty factor if you live overseas in a tyrannical dictatorship, however right here in America, why would I wish to get my money intertwined in a snake pit of people making an attempt to avoid the regulation (together with these trying to keep away from taxes). That doesn't sound very secure in any respect. I'll stick with my US dollars, thanks. Jay, I imagine he addresses that in the worth volatility paragraph.