A lot of people today say they don’t trust government – or financial institutions of any kind. This has led to the development of new things , including money that’s not backed by government.
The most well-known is Bitcoin, an open-source peer-to-peer payment method which people use mostly for online transactions. Some businesses accept Bitcoins as payment in lieu of U.S. dollars or traditional credit cards.
But before you jump in with both feet: it’s still very early in the alternative money game.
In fact, Bitcoin has been hit by a number of internal thefts. Recently, a lot of Bitcoin money has vanished from people’s accounts. The value of Bitcoins has dropped as a result.
So before you decide the U.S. dollar is not good for you, wait for the marketplace to come up with a more secure way to pay.
Bitcoin is NOT an investment