The Xoom Theft and the Future of the Dollar

Despite Xoom's vague assertion that "it doesn't think that customer data or customer money was involved in the Dec. 30 theft," the heist –consisting of an amount of dollars most holders of the currency can only dream of ever obtaining, as the vast majority of dollars are held by 1% of users, marks another foreboding blow to the future of USD. The value proposition for the average person just isn't there, and for the users attempting to send their hard-earned cash to families in need back home, dollars are looking downright evil. In fact, the only real use for dollars would be doing something illegal. "It's a mirage, basically. Stay away from it," say Bitcoin's major investors. Some are even speculating that dollars could be used to fund terrorism and pose threats to national security. What nation's security? The. Clearly, dollars will never work as a currency.

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