I have been reading the last days many titles through the internet about the BitCoin, mainly negative, which make me suspicious about their origins and scope.
The reason is that, after reading a few things about its attributes, I find it more solid than many other currencies in circulation. Especially the fractional attribute, that allows to this currency the ability to self-regulate, according to the economic environment it operates in, seems to me a succesful inclusion into its architecture.
Furthermore, since its exchange rate is floating it is embeded into the current system, allowing it to blend in and maybe become a dominant option in terms of storing value in case of financial turbulence, or in realising transactions. Since it is also taken into account by tax codes in some countries, or at least this is what I read, then it is as transparent as other options or even more, as some elder financial tools are totally non transparent.
For all the above reasons I believe that some people out there felt the threat of the new currency in circulation, and the loss of control it signifies for them. The reason is that there is no Central Bank behind it and no one Capital Exchange Market regulating it since it is not universally accepted as such an instrument. Isn't that enough to attack on it? Imagine the fees in commissions that will change hands in a more open way. Not to mention that the field of competition is transferred to other directions.
Well, I am really curious to see how it will evolve this monetary experiment.