Can someone please explain..

[CheeseSlice]

Yip and if you’re really intelligent it’s called QE. Or for the masses who’ll never understand what’s really going on: “printing money”.

I'm not sure you're on the same page here. QE is something you can't do with BitCoin.

[CheeseSlice]

Interesting article. Any opinions on the long term implications of a decentralised bank?

AFAIK there are no banks for BitCoin. There's no central bank (since you can't print it) and money has to be kept somewhere, a digital wallet, or according to that video it can also be held in a Bitcoin exchange.

I've been vaguely following the stories in the financial media and its quite interesting how various US officials and institutions (even states) have been quite hostile to BitCoin as an emerging currency. It was after all developed in reaction to the abuses of central banks and governments to fiat currency, which have undermined paper money as a store of value.

BitCoin could really threaten the monopoly of central and commercial banks if it is widely adopted. A government can't simply get their central bank print their way out of trouble, and goverments can't seize BitCoins from you like Cyprus did to its own people earlier this year. It would also revolutionise foreign trade and transactions. And who needs a fiat reserve currency when you've got the digital equivalent of gold? Who knows what else it would do, but there are some people out there who would rather it was killed off as a currency, and killed off soon.

[Eirikur]

The first(?) bitcoin robbery: BBC News - Major Bitcoin theft from website, claims owner

I can see a bubble coming up Bitcoins will raise in value until everybody finds out it's actually based on nothing and it will crash into worthless Bits and Bytes.
Expect the usual scenario of pensioners losing all their life savings, to be shown on the tv news.

[doodab]

I can see a bubble coming up Bitcoins will raise in value until everybody finds out it's actually based on nothing and it will crash into worthless Bits and Bytes.

It's based on serving as a medium of exchange. As long as people are willing to accept it as payment then it has value, just the same as cigarettes in the prison yard.