http://www.cnet.com/news/bitcoin-gains-support-of-cryptography-think-tank/
I recently read an article about the bitcoin, the relatively recent virtual currency. This article discussed the emergence of Coin Center, a nonprofit organization that proposes to research the political and implications of bitcoin becoming a prominent currency. I am not an expert on the bitcoin system, but I do know that there is a limited supply of bitcoins. I don't know much about economics either, but having a limited supply of currency seems more natural to me. That's one of the reasons that I support the efforts to understand the economic implications of adopting such a system. I doubt bitcoin itself will ever become a dominant currency, but I believe that it can add a layer of stability. I also like that it isn't regulated by a central bank or by a government agency. It is based on the internet, and bitcoins are available to "miners" across the world. The bitcoin system strikes me as pure economics, unmarred by the touch of greedy politicians and banks.
Your post is a reminder to me that I should become more familiar with bitcoin. As you said, I'm not sure how widely used it will become, but if it doesn't catch on I would venture that something like it will. The only concern I have about virtual money is the other side of the coin which you described. Due to lack of regulation, I believe bitcoin has been the means of several online black markets, the most notable of which being The Silkroad.
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