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News Source: Money's Edge Article Title: "This Presidential Candidate is Using Bitcoin to Make a Point About Our "Two-Party Monopoly" http://www.moneysedge.com/newsimage?id=226Interesting article about Gary Johnson from the Libertarian party and Bitcoin. |
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This is a piece of news which it appears that Bitcoin transactions are being accepted when major credit card companies like Visa and Mastercard are distancing themselves. Apparently Backpage.com which sort of looks and functions like Craigslist is accepting Bitcoin, but because the website is notorious for adult services, it could create a negative stigma for the digital currency. I would like to see, as would many of you, Bitcoin thrive in the mainstream. Every new company or entity that accepts it can be thought of as a win, but what of the long term ramifications of reputation if Bitcoin goes where others don't? The article is http://www.moneysedge.com/newsimage?id=144 |
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Tomorrow (July 14), the Silicon Valley Bitcoin Meetup is happening at the Sunnyvale, California Plug & Play Tech Center. Anyone else from the forum group going? I think there are speakers from BlockNotary, AstroBlocks, Spritzle, BlockChainMe & P2P Insurance that are presenting.
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I am just learning about Bitcoin and pale in comparison to many here on the boards, but here is what I am thinking on the question:
It is an interesting thought about stabilization of Bitcoin despite the fact it is a decentralized digital currency. I think the misunderstanding by mainstream society is a great part of the instability as the powers that be are not favorable on it. I do think with trusted and established fiat currency, there are ways to manipulate the system also causing chaos so "stability" is open to interpretation. With Bitcoin there are stress tests for concern along with, as I understand it, unfair mining practices where it be almost too competitive for casual miners to achieve a gain. There are still pros and cons with Bitcoin which I am still trying to get my head around. Because it is not backed by any sort of commodity such as gold, it makes transactional value converting it to traditional currency difficult.
Some states like California are making legislation incorporating rules on it, but it has a long way to go before it is truly accepted as an alternate form of payment. In the San Francisco Bay Area where I live, I can only think of one brick and mortar store that accepts it as payment (Nakamoto's). I wonder if it will take the economic decline/collapse of (multiple) countries like Greece and within Africa to gain momentum and enough following to instill a sense of stability and for that matter viability.
I could be way off base, but that's how I see it.
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Unamis76,
Thanks for the heads up regarding the wrong graphic. Did look a bit odd. I notified the writer on the graphic error and they just switched out the picture for an accurate representation.
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Was reading a news article about BitCoin and the ATM concept in Greece. Especially as you have limitations to the amount of money you can withdraw per day (60 Euros), the Bitcoin ATM utilization seems to be a viable way for people to have more access to their money without the old fashioned mentality of stockpiling cash under their mattress. The link to the article is below. I have pro and con feelings about this, but I was wondering what all of you thought. http://www.moneysedge.com/newsimage?id=141At the very least, it can shed virtual currency in a positive light with their local consumers when banks their banks have become constrictive. |
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New Liberty, Honestly I am see your point with the feelings of committees regulating to ensure the government gets their cut....granted this perception is understandable, but compared to before I think it could be an improvement, albeit a minor one. I would love the digital currency to grow despite political theorists claiming the concept was dead. The government taking a closer look at it and incorporating rules shows the concern is positive. If Bitcoin was truly dead, bills like 1326 would not be considered. The government wants to ensure fiat stays in the forefront but cannot ignore what is apparent and growing. As far as the consumer protection, it is kind of mixed feelings for me just getting into the bitcoin education. I see articles from time to time about bitcoin theft and mining blocks so there is potential for abuse. Not crazy about the government trying to intervene and regulate as I question how they could seeing as Bitcoin does not belong to any government or centralized organization. I think there will be further changes to AB 1326, though I am not sure what they will be or to what benefit or consequence to Bitcoin users. The article I was reading http://www.moneysedge.com/newsimage?id=130 |
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