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+Title: The European Central Bank (ECB) take a look at bitcoin
+Tags: english, bitcoin
+Date: 2012-11-04 08:30
+
+<p>Slashdot just ran a story about the European Central Bank (ECB)
+<a href="http://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemes201210en.pdf">releasing
+a report (PDF)</a> about virtual currencies and
+<a href="http://www.bitcoin.org/">bitcoin</a>.  It is interesting to
+see how a member of the bitcoin community
+<a href="http://blog.bitinstant.com/blog/2012/10/30/the-ecb-report-on-bitcoin-and-virtual-currencies.html">receive
+the report</a>.  As for the future, I suspect the central banks and
+the governments will outlaw bitcoin if it gain any popularity, to avoid
+competition.  My thoughts go to the
+<a href="http://en.wikipedia.org/wiki/Wörgl">Wörgl experiment</a> with
+negative inflation which was such a success that it was terminated by
+the Austrian National Bank.  A successful alternative would be a
+threat to the current money system.</p>
+
+<p>While checking out the current status of bitcoin, I also discovered
+that the community already seem to have
+<a href="http://www.theverge.com/2012/8/27/3271637/bitcoin-savings-trust-pyramid-scheme-shuts-down">experienced
+its first pyramid game / Ponzi scheme</a>.  Not very surprising, given
+how members of "small" communities tend to trust each other.  I guess
+enterprising crocks will try again and again, as they do anywhere
+wealth is available.</p>