Re: Virtual
It does also raise the prospect of automated currency trading bots manipulating the unregulated market to make virtual fortunes at the expense of the average punter.
Why do you think the big merchant banks are interested? FX and interest rate rigging have been (supposedly) stamped out, mis-selling is under a cloud. HFT is the current way to rob regular punters, but that's under a bit of regulatory scrutiny, so has probably maxed out the profits.
The Goldman's of this world need a new way of leeching the money for the billions they hand out in bonuses, and the convoluted, illiquid, unregulated work of block chain currencies is an absolute gift. No rules, no oversight, and probably no complaints from those who lose out.
Biting the hand that feeds IT
