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Bitcoin: Currency Without a Country

This free market money may be a flash in the pan, but its underlying principles are game changers.

by Bruce Bartlett

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There has been a lot about Bitcoins in the media lately. They are a type of electronic currency that is “mined” by computers and theoretically capped at a maximum of 21 million coins. Almost daily, some organization or business gets a bit of press by announcing that it is willing to accept Bitcoin payments.

The price of Bitcoins varies and at times has fluctuated hundreds of dollars per coin in a single day. But lately the price has been relatively stable around $950.