We asked some of our accountants what their personal views of Bitcoin was and here's what some of them had to say.
(Please note that these were their opinions earlier in the year - a lot has changed since then. Also bear in mind that these are simply their off-the-cuff impressions and does not constitute investment advice)
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"Embrace change, understand the risk and manage it." |
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"Bitcoin is a payment system that was designed to make financial transactions between parties using bitcoin as the unit of currency. My opinion is that it is a system that is understood by very few people in the world, hence it is not used in our day to day purchases in retail stores" |
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"I think the concept is clever and I buy into the advantages but I have to admit i have never bought or used any Bitcoins so I'm not sure how practical it is or how widely used and accepted they are." |
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"There is a place for it, although concerned about the traceability and ethics around it." |
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"Havent had any dealings with it, probably where we are headed - would not necessarily be against it" |
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"I am always wary of different things and the risks involved. As there is such "openness" to the process, in that no-one can block you from sending or receiving bitcoins with anyone, anywhere in the world, I can foresee a number of risks involved in the application." |
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"Very interesting but high risk at this point." |
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"I wish I had more of it. I think it is just the first of potentially many virtual currencies. Accounting for it is tricky, because the fair value is so volatile, but imagine the possibilities... In future our currencies might be completely global & virtual. To me this means less hassle when travelling and more equal cross-continent opportunities for all." |
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"I do not think it is a safe ways of doing online payments. Fraud could easily occur." |
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"I think it is great. Online is the way to go." |
