Guardian Economics correspondent asks: is the currency safe or even necessary?

This article titled “Is Bitcoin a potential weapon of mass economic destruction?” was written by Phillip Inman, economics correspondent, for on Thursday 28th November 2013 16.02 UTC

Why are we giving Bitcoin house room? Surely it is akin to a counterfeiting scam promoted by people who like the idea of their computer making them rich without lifting much more than a finger?

The story on Wednesday of the Newport IT worker James Howells who threw away a hard drive with £4m worth of Bitcoins stored on its memory is a case in point. If Howells had set up a printing press in his bedroom and run off a whole bundle of banknotes, only to throw away the suitcase he stored them in, sympathy would evaporate and the police would pay a call.

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