Why All The Bitcoin Controversy?

There is a new form of Internet currency that is not a part of any nation or bank. It is called a Bitcoin. Invented in 2009, you can buy this currency with money from another nation and use it to purchase goods and services on the Internet or (donate Bitcoins to other individuals). Sounds great, right?

The Bitcoin Logo

Some people say it is the future of currency, a form of money that has no one country to call its home. However, others like Senator Charles Schumer have expressed concern over the fact that Bitcoins have potentially been used to purchase illegal drugs on various internet websites. After all, when you have a de-centralized, untraceable currency, you can use it for good or less savory actions such as buying drugs, and other illegal substances without a trace. Some argue this is the government trying to get rid of Internet privacy and shut down a clever idea. Another group say it is just about protecting people from substance abuse. In the end the question may be if the positives of the Bitcoin outweigh the negatives, or if this was an interesting idea that just wasn't meant to be.