In the eyes of some, government-backed currencies are coming to an end. To this small group of true believers, central banks like the Federal Reserve destabilize the economy and will bring an end to the supremacy of the dollar. Bitcoin, a completely virtual cryptocurrency, has captured the imaginations of libertarians and gold-standard lovers the world over as the dollar’s long-term replacement. Bitcoin was born into a world that had already begun to move away from paper transactions. Without the influence of governments or central banks, bitcoin truly operates like a free market system. However, despite having a passionate following, security concerns and volatility have plagued bitcoin. As a result, the cryptocurrency has little chance of replacing any national currencies. Nevertheless, virtual payment services like PayPal and bitcoin will likely continue to grow, as the economy moves increasingly toward a nearly paperless world. They may even push paper currency to the brink of obsolescence.