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     7 years ago (edited)

    I have been doing a bit of research into this topic.

    What I am finding is that Bitcoin and other cryptocurrencies
    are taking the place of, or at least pushing aside, purchases of
    gold and silver, especially since precious metals are obviously
    being manipulated. Apparently, gold, silver, and now bitcoin
    become preferable as an investment/safety vehicle when
    confidence in government fades. There are many voices
    who are ringing the bell that there is going to be a
    sovereign debt crisis (think government bonds) very soon --
    many claim by the fall of this year.

    I still cannot uncover a wholly believable and verifiable
    reason, as things now stand, as to why governments are
    allowing bitcoin.

    I might buy into the "legitimizing" theory, as it is very
    plausible, if it weren't for the fact that people who
    create their own currency tend to end up in
    federal prison.

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