Chuck Jaffe: New Internet currency risky even for savvy investors
Many readers say they recently heard about an investment called Bitcoin, a new form of currency that is not tied to any country or government and that doesn’t actually exist in the physical world. It’s an Internet commerce unit without any central bank or computer behind it.
The Bitcoin system is run by the people who use it. Its advocates say there are no government officials to step in and mess things up, just the masses purportedly about to make Bitcoin a worldwide market force.