Bitcoin? Or No Bitcoin?

Alex McAdams
The “Bard” or Shakespeare will have to forgive us as we borrow from his play “Hamlet.”  If you’re like most of us you have more questions than answers about this cybercurrency.

So, we asked Nerd Wallet personal finance analyst Alex McAdams about Bitcoin because he is a supporter of the currency, as noted in a recent article he wrote.  Please listen to our discussion about tax season and Bitcoin with Alex McAdams here. Rita shares her personal angst about taxes and why tax time is an emotional time for many Americans.

McAdams, (@NerdTax) comes from a military family, is a Harvard graduate and validates the emotional stuff during tax season during Rita’s and Alex’s conversation, which can be listened to by clicking here.   Then they talk about the pros and cons and different arguments for holding Bitcoin, please click here and take a listen or read our second post in this series.Lots of Bits

The value of Bitcoin, or how much U.S. or any other currency is needed to buy into the system does vary, so those who decide to invest in the Bitcoin currency have to be prepared to ride the “roller-coaster” of currency stability.  Two years ago it cost 10 times the amount, in U.S.dollars to buy one bitcoin as it does this year.  If varying exchange rates make you nervous, this might not be for you.

But, on the other hand, if you know you’ll be living in an area where you have great access to mobile phone technology, and no access to traditional banks, Bitcoin may be the best option for you to participate in buying and selling things in the global economy.

Digital CoinTo find out more about the international community that supports Bitcoin you can visit their Wiki site.

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