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The US is a relatively stable and strong economy, with good rule of law, good financial technology, low inflation and financial institutions that most people have faith in (although many Bitcoin enthusiasts would beg to differ). So it is natural to assume that Bitcoin adoption will start first in the US.
The bank crisis in Cyprus threatened property rights of depositors; the EU economy is challenged and the US is slipping in global competitiveness rankings. Many look to the government for answers to economic problems, but we should be looking to the private sector for leadership and examples. Connect with him on Twitter: @GaryShapiro.
Recent news on the Cyprus banking crisis has brought Bitcoin back into the public view. Founded four years ago by an anonymous hacker who calls himself “Satoshi Nakamoto”, Bitcoin is a digital currency that operates independently of any government or financial institution. Let’s take a closer look. What is Bitcoin?
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