Bitcoin-The New Face of Money?

 Thanks mostly to the Internet, money is flowing in new ways and in new forms. From credit cards we have moved to PayPal for peer to peer and business to customer transactions. Now there are companies like Square that permit small businesses to easily accept credit card payments. And the newest form that money is taking is Bitcoin, digital or cryptocurrency that allows anonymous, peer-to-peer currency transactions globally that bypasses the traditional banking system. Users need to obtain a “wallet” (software) and then they can purchase coins with real cash from a Bitcoin exchange. After that they can exchange Bitcoins peer to peer. Needless to say, the Bitcoin has caused a stir worldwide with governments struggling to create policy to match the virtual currency. In many countries in the EU provisions are in place to regulate the currency under existing barter and tax laws. Russia has banned the virtual currency outright, citing its potential for use in illegal activities and use by terrorists. China has cracked down on Bitcoin use, driving the price of the currency down, and Alibaba, China’s leading online retailer has banned the currency. In Japan, Bitcoin exchange Mt.Gox has gone offline citing security issues, and here too the price has plummeted and coinholders can not withdraw their funds. So safety, volatility and price fluctuation are a big concern for this new currency. Once valued at around $1,000,  Bitcoin is now exchanged at around $650 in some parts of the world.  So, new money-have you hear of it? What do you think? Will all money be virtual in the future? Post your opinion below.