Here is a video from PBS News with Paul Solman – he looks into cryptocurrencies and tries to explain what they are and how to buy them. Also is bitcoin a bubble?
Professor, author and hedge fund manager Vikram Mansharamani states:
You do need some more stability in the value of it before it gets truly adopted as a currency, not as an instrument of speculation. Today it’s de facto an instrument of speculation or a means through which to fund illicit activities off the grid. Bitcoins and sort of other cryptocurrencies live outside of the traditional banking network. And in fact are intended to do so by design.