Bitcoin Revolution?

 Your brother-in-law told you to buy Apple when it was selling at $40 a share. You didn't listen, and he reminds you of the fact at every family gathering. Well, if you've been reading this blog diligently you learned some time ago of the “bitcoin” revolution. The bitcoin is a money alternative. You may have initially heard about this from your computer savvy child or in some cases, grandchild. The bitcoin is a virtual currency, of which I know little. But I do know this. Its value is doing much better than Apple. So if you would like to remove the stigma of failing to heed your brother-in-law's advice, listen up. For example, since 2012 when its value was nearly worthless the price of a bitcoin on an exchange that converts the currency to dollars rose to $780 on Monday, November 18, 2013. When first introduced, federal regulators were worried that the bitcoin would undermine the entire financial system in America. Now the tune has changed. In recent hearings before the Senate, a number of federal officials said the bitcoin may offer real benefits to the financial system even as they acknowledge, according to the New York Times, that the new form of digital money had provided avenues for money laundering and illegal activity. It appears that the government is not willing to stand in the way of the bitcoin development. This suggests that the bitcoin could become a lasting and significant part of the American financial landscape.  By the way, you can tell your brother-in-law to keep his Apple stock and that you are now into the bitcoin revolution or you can just wait for the next big thing to come down the pike. By next year who knows the bitcoin may be alongside the hoolahoop, a collector's item but no more. Already a number of new money alternatives are showing up and more will surely follow.