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It honestly hasn't when I think about it. Got the idea from this article: http://www.panture.com/black-market-fully-utilized-bitcoin/ Basically, the drug business is HUGE. And that's only a part of the black market, (albeit a large part) imagine if drug cartels realized the benefits to using bitcoin. Nobody could steal their money if they secured their private keys well, nobody could rob em. If they disperse the earnings, it would be hard to trace em too. Once they start recognizing bitcoin for what it can do, an 8B market cap will be nothing in terms of whats to come. If I was a local drug dealer, I'd accept bitcoin if I were given the chance. If law enforcement caught me, I could tear up any paper wallets I had on me. Once someone gives you the bitcoins, they can't turn around and try to scam you either. Opportunities for this are endless. |
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Bitcoin will not be the only factor, but it will be the main factor. Ebay has to deal with companies like Alibaba, Amazon, and now possibly Apple taking market share from it. They don't innovate and they won't innovate/change their PayPal unit because they're too scared. It has been suggested that eBay incorporate bitcoin, but they won't do that because bitcoin is still in its early stages. By the time bitcoin expands and is widely used PayPal will be unable to take the lead in digital currencies. This is without the hacking revelations that recently surfaced, which are likely to get worse. I used to like Ebay, but they charge fees that make resorting to bitcoin look like heaven. Their stock has lagged too in 2013, where everything went up. Bitcoin won't be the only factor in their demise, but it will be the main one. Article that explains this in detail: http://www.panture.com/why-bitcoin-will-force-ebay-to-go-bankrupt/ |
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We don't know when its coming, but according to Moore's law it's coming soon. I feel like Bitcoin is very well positioned, as it has a strong community behind that's is also very smart when it comes to technology. I see some impediments when it comes to hashing power, but that will likely be short term and it will wear off soon enough. I feel like Bitcoin will bolster its security before any other financial service, and that is because of its community. Short term transition will be tough, as not everyone can afford a quantum computer, but in the long term as they become cheaper, I see a stronger Bitcoin overall. I'm not too knowledgeable when it comes to quantum computing, so I would like to know your thoughts as it pertains to Bitcoin. Not many articles out on the subject, or all are pretty much the same. Here's one. http://www.panture.com/bitcoin-will-survive-quantum-computing/ |
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Bitcoiners want normal non techies to adopt Bitcoin, but that's going to take a lot of work. It first starts with the media, and honestly I see them doing a terrible job covering BTC. The vast majority of the time I turn on CNBC I see stories that speak negatively about the Bitcoin. Third world countries are even worse, as many countries have their media controlled by their governments. The thing that sucks is that most governments are also ignorant to Bitcoin. We need to change the public image of Bitcoin. Normal everyday people are sketched out by it and base their opinions off bullshit articles they read from news sites that can't comprehend Bitcoin for themselves. I still believe Bitcoin is in its early days, and that's not going anywhere. The thing I hate most is when economists come out and give phony analysis that Bitcoin is in a bubble. Some people need to understand that Bitcoin is not like a normal asset, ie stock or real estate. Economists treating Bitcoin like such should be disregarded as they don't know what they're talking about. Anyone else find bs articles/news from 'reputable' websites? Here's one of the latest bs articles I found, this time surprising from engadget. http://www.engadget.com/2014/04/15/amazon-bitcoin-currency/An article about Bitcoins bad press http://www.forbes.com/sites/kashmirhill/2014/02/11/the-bitcoin-bad-news-round-up/An article about whether or not the world is educated on Bitcoin http://www.panture.com/does-the-world-understand-bitcoin/ |
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People seem to forget what Bitcoin truly stands for sometimes and its disheartening. Bitcoin is not a get rich scheme or even remotely close to that. Bitcoin is a promise for freedom that no other fiat currency can provide. It is something that will only succeed if people want it to succeed, and it benefits everyone who uses it. Tbh everyone that I see who calls it a ponzi scheme or something arbitrary just doesn't understand it. They look at Bitcoin like every other asset and forget that its completely different. People in countries in Africa can't economically compete with people in America, but Bitcoin changes that. It provides a currency that is amoral and benefits everyone equally. Don't be distracted by short term moves in price and instead be focused on the fundamentals. That's all that really matters. Here's some articles elaborating on this if interested: http://www.panture.com/why-bitcoin-matters/http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/ - This ones by Marc Andreesen, prominent defender |
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Anyone see it happening with countries like zimbabwe and somalia? There's so many weak currencies out there supplied by countries that put them out just for the sake of it. Does anybody else not see the top currencies in the world like the dollar and the yen taking over alongside virtual currencies? Shits revolutionary when u take a close look at it and I see Bitcoin being the main leader in all of this. Read this article that gave me the idea to make this http://www.panture.com/bitcoin-taking-over-third-world-currencies/I hope the world takes on Bitcoin because poorer countries need to abandon their good for nothing currencies. Many don't use dominate fiat currencies like the dollar either, so using their own currency becomes inconvenient. Now imagine if ppl started using virtual currencies instead. |
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People in the media love to bash Bitcoin whenever it corrects and quickly call it over exaggerated names like Ponzi-Scheme. Some people dont seem to understand what an investment is anymore so let me clarify a few things. Bitcoin has a future because it has a use. People use Bitcoin because its faster and easier and requires no middleman. People don't have to get screwed by fees when using Bitcoin, and if they are safe and keep Bitcoin in a secure place, people can easily use bitcoin for daily purchases instead of other fiat currencies. Im sick and tired of all the bashing because its just so unjustified. Bitcoin is innovative and has a place in the world and people need to accept it. Maybe when this thing rallies back to 1k+ people will be more respectful towards it. Heres what I meant by the media bashing BTC nonstop if u haven't seen footage yourself. http://www.bloomberg.com/video/bitcoin-a-ponzi-scheme-fraud-marathon-s-richards-xkVBN0BCTYOh5O13JTt2Ug.htmlalso read this article that demonstrates why Bitcoin is not ponzi-scheme and addresses some of the bashing http://www.panture.com/bitcoin-is-not-a-ponzi-scheme/ |
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