FXCM have created a really useful informative interactive visual on Bitcoin that gives the latest price of Bitcoin (380 USD at time of writing) and describes:

• what is Bitcoin:
  • 
  • Source & Copyright©2014 - FXCM
  • how use
  • where store
  • how spend, verification, etc.
• the story of Bitcoin 
• Bitcoin today:
• 
• Source & Copyright©2014 - FXCM

 

Divided opinion

Bitcoin is dividing opion world-wide: 

• ‘Why Bitcoin won’t be the money of the future – but cryptocurrencies might be’ by Kevin Dowd and Philip Booth in London’s CITYA.M. wrote on 18 August that Bitcoin advocates say that Bitcoin is the money of the future, but critics point to volatility as “price has just fallen below $500 for first time since May”. (CTMfile: is now $330). Neverthless, “Sterling, for example, has lost 98 per cent of its purchasing power since the Bank of England was nationalised in 1946. The total amount of Bitcoin, however, is limited by a digital production process analogous to precious metal mining, which can stop its value from being eroded by systematic over-production and debasement.” So the change in the value of a currency is not uncommon
• John Authers in the Financial Times wrote, ‘Bitcoin has burst, but could still revolutionise banking.’ because, “Venture capital is exploring cryptocurrency technology”. He feels that, “The bitcoin bubble has burst. This was wholly predictable, and the market fallout is now dramatic.” However “The essential breakthrough of bitcoin is to allow two people to exchange money directly with each other, without the need of an intermediary, and to do it wholly digitally.” 

Auther writes: “The key questions for those raising money to invest in this technology are growing clearer. Can it save money? And what problem is it aiming to solve?”. See: http://www.ft.com/cms/s/0/4bba096c-4e37-11e4-bfda-00144feab7de.html?siteedition=uk#axzz3G0Vj4myM

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CTMfile take: Crypto-currencies will have an impact, but it is not clear what and whether Bitcoin will the currency to make it.