Take 15: Bitcoin and Monetary Policy (Video)
Nicholas J. Colas managing director and chief market strategist for ConvergEx Group, discusses his views on Bitcoin as an alternative currency payment system and phenomenon.
In a poll of our readers last April, only 17% of respondents believed that Bitcoin will remain a viable alternative to government-sponsored currencies for the long term. “This is something very new and very unique, and therefore has a very high potential for failure, because it might take two or three next iterations of virtual currency to build the right structure,” Colas warns. “All we can say right now is that Bitcoin is far and away the most elegant solution to a decentralized currency that we’ve see so far.”
This episode of the Take 15 Series was originally released on 30 January 2014.
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