Fighters

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Bitcoin is an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network.
The emergence of the so-called ‘virtual currency’ known as Bitcoin in 2008 caused considerable excitement. Invented by a secretive Japanese cryptographer apparently called Satoshi Nakamoto it was hailed as a new form of currency which would enable anonymous transactions and prompting fears that it could be used by criminals to launder money.
Jeffrey Robinson said: “There are two Bitcoins. Sakoshi Nakamoto called the currency Bitcoin and he called the block chain technology behind it Bitcoin. The technology is brilliant and it solves a real problem of no third party verification. No bank is needed to verify the transaction because the block chain does it itself. A block chain documents the movement of value. It is an irrefutable way to document the transfer of an asset.
“It does not actually launder money for you. It moves the money but it doesn’t disguise the money. Block chain technology is sensational.
“I have a problem with the pretend currency. It doesn’t meet the standards set to be a currency. It is traded like a commodity and that market for it is a very shallow market. There are 13 million Bitcoins in circulation and 950 people own around 50% of those Bitcoins so any two people with large amounts can manipulate the market.
“It mimics the gold standard which has been abandoned because it is a horrible system. It is a closed end deflationary market. It is delusional to say it will topple currencies. When I pulled the curtain back I found there is an awful lot of misinformation and chicanery involved.
Read more: http://voiceofrussia.com/uk/news/2014_10_12/Bitcoin-A-step-in-the-right-direction-but-not-the-end-game-6339/