Bitcoin millionaire Charlie Shrem says 2014 will be ‘Industrial Revolution’ for currency

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Charlie Shrem, the 24-year-old Bitcoin millionaire who was arrested on money laundering charges, has compared the founder of the controversial currency with Christopher Columbus and said it does not matter if people don’t understand it. Mr Shrem, who ran New York’s BitInstant.com currency exchange, told the Wall Street Journal that this will be a seismic year for the virtual currency, which is “mined” from computer code, as users start to build the infrastructure to drag it into the mainstream. “2014 will be like the Industrial Revolution for Bitcoin. Satoshi [Nakamoto] like Columbus – he gave us the new world,” Mr Shrem said, comparing the founder of the virtual currency with the famous explorer. “Now we have to build the bridges, roads, tunnels, synagogues and churches,” he added. Mr Shrem’s comments will not necessarily calm the scpeticism surrounding Bitcoin. The entrepreneur was arrested last month at John F Kennedy Airport after he allegedly attempted to sell $1m of Bitcoins to a user of Silk Road. Silk Road was an online marketplace notorious for trading illegal drugs and weapons until it was shut down by US authorities last September. More
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