2013-12-10 Dollar Vigilante - BITCOIN’S EVOLUTION WILL BE SWIFT

[Cunningham]

BITCOIN’S EVOLUTION WILL BE SWIFT
http://dollarvigilante.com/blog/2013/12/10/bitcoin%E2%80%99s-evolution-will-be-swift.html

Current payment systems simply can’t compete with bitcoin’s fees, security and convenience.  Why spend hundreds of thousands of dollars on bank fees per year and lose hair as money transfers bounce from bank to bank during a wire transfer sometimes taking days to reach its destination, when it can clear within minutes and for mere pennies?  As a currency, no sovereign can match it.  As a payment system, no financial institution can compete with it.  As a distributed network, no government can stop it.

Extremely bullish article about Bitcoin. Quite a pleasant read!  

[Peter R]

Yes, nice article!

[empoweoqwj]

Nice article but coming from a website whose tagline is "SURVIVING & PROSPERING DURING AND AFTER THE DOLLAR COLLAPSE" its pretty much as expected.

[LiteCoinGuy]

Current payment systems simply can’t compete with bitcoin’s fees, security and convenience.  Why spend hundreds of thousands of dollars on bank fees per year and lose hair as money transfers bounce from bank to bank during a wire transfer sometimes taking days to reach its destination, when it can clear within minutes and for mere pennies?  As a currency, no sovereign can match it.  As a payment system, no financial institution can compete with it.  As a distributed network, no government can stop it.

[zimmah]

very bullish but in my opinion it's plausible as well.

[anu]

Nice article but coming from a website whose tagline is "SURVIVING & PROSPERING DURING AND AFTER THE DOLLAR COLLAPSE" its pretty much as expected.

Is it? I am always puzzled how hard money advocates like Peter Schiff dismiss Bitcoin:
http://www.youtube.com/watch?v=0L7SOPDOvvI

[Lethn]

I know what you mean about Peter Schiff but didn't you get my memo about Ron Paul? He's done more research on it and simply likes the idea of competing currencies as you'd expect from the Libertarian position .

[anu]

I know what you mean about Peter Schiff but didn't you get my memo about Ron Paul? He's done more research on it and simply likes the idea of competing currencies as you'd expect from the Libertarian position .

Just saying that we should not expect hard money advocates (Austrians, Libertarians, gold bugs) to automatically embrace Bitcoin. Some do, such as Ron Paul, Jeff Berwick, Frank Schäffler, Simon Black... but it can't escape notice that the most hostile critics are also from these quarters and not from Keynesians / statist quarters as one might expect.