Bitcoin Is a Canary in the Coal Mine: Dowd

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Dec. 6 (Bloomberg) -- Bloomberg political analyst Matthew Dowd talks about the concerns surrounding Bitcoin on Bloomberg Television’s “Bloomberg Surveillance.”

Hour can you say this is something that washington needs to get up to speed on really quickly.

I do not have concerns because i think -- that coin is the canary in the coal mine for what we will face in the next 10 years, cyber currency.

There are lots of questions about whether or not there are algorithms and it can last over the course of the long haul, cyber currency is here to stay and somebody is going to be the next bitcoin.

Our monetary policy is going to be in shambles if that happens.

What does the long be -- the lobby look like a couple of years down the road?

Cook's the thing a are going to have to answer -- they have operated mostly in the dark and has been -- and have been successful in the dark.

They come and go and what people do and how they trade and buy and sell this online, or will they come out in the open?

At some point the critical mass is going to reach a point in cyber come -- in cyber currency.

There's no going back at that point.

China moved quickly to ban it from financial transactions.

We are not china but there is a concern that it has become a means of transferring funds.

Would the u.s. move in that direction?

The problem you ultimately have is, like vegas, the government all depends on getting their share of the cake.

They get their share of the cake in any transaction.

Whether it is a payroll, a

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