From “Bitcoins Catching On in Latin America:“
It isn’t just a “fashionable” online currency, but something far more revolutionary, Fernando Ulrich of the Instituto Ludwig von Mises in the southern Brazilian city of Porto Alegre told IPS. Ulrich is a Bitcoin enthusiast, saying that not only does it reduce transaction costs, but it also represents a new way of thinking about the international economy without interference from national states and central banks. “I was astonished at its revolutionary potential. It is a robust network and an innovation that can change the way people conduct transactions, by liberating people from dependence on the monopoly of money issued by the state,” Ulrich said.
