The good fortune of virtual currency recently is undeniable. But it’s not money yet.
Not something.
Photographer: Ozan Kose/AFP/Getty Images
A few weeks ago, a reader emailed to challenge what he described as our “cautionary, skeptical and net negative” stance on Bitcoin. To make the case, our interlocutor, who wishes to remain unidentified, cited a series of blogposts written by Allen Farrington, a former fund manager at Baillie Gifford & Co., highlighting one example in particular:
The reader has eloquently argued that incorporated prejudices can highlight us to the appearance of a global virtual choice of a virtual choice to fiduciary currencies. My answer was another quote from the Austrian philosopher: in my opinion, Bitcoin is “it is not something, but neither. ” 1