The Phaserl


Bitcoin To Replace Pennies & Nickels?

by Justin, GoldSilverBitcoin:

In this month’s edition of Futurist magazine, an article asked experts what they did not expect to be around in thirty years. One individual in particular, Virginia Holbert, responded:

 ”pennies and other coins are becoming less useful, as parking meters, tolls, and public transits use smartcards and RFID technologies to streamline payment. Presumably by 2030 we will also see widespread acceptance of virtual currencies such as Bitcoin.”

As inflation worsens, materials such as copper are making coins like the penny and nickel worth more than the face value of the coins in circulation, as US Treasury Secretary Tim Geithner penned in written testimony to the House of Representatives Appropriations Committee Wednesday.

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