2013-05-13 ForexMagnates: Bitcoin Gains New Believer: James Altucher

[n8rwJeTt8TrrLKPa55eU]

Points out the important trend beyond the day-to-day newsbits:

What’s the point of all this.  The catalysts for both financial guys, Altucher and Lindzon, were tech industry influences.  Specificaly, Ravikant has become one of the most respected voices in Silicon Valley.  As such, while much of the debate is around whether bitcoins are worth nothing or thousands of dollar’s, the real debate should be centered around the technology it is part of.   In terms of technology, bitcoins are receiving an expanding backing of influencers that believe in its disruptive properties.  Therefore, as bitcoins become understood more as a technology play and not a currency play, the distinction will affect how it will be viewed by governements and established businesses.  While an asset class is easier to regulate or ‘ban’, technology isn’t as easy.  As such, while little announcements like a book being available only for bitcoins may not be a big deal, they are part of an increasingly larger trend of bitcoins being a technology driven product; which is BIG DEAL.

http://forexmagnates.com/bitcoin-gains-new-believer-james-altucher/

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[cypherdoc]

finally.

the Silicoin Valley guys are starting to get it.

this is going to be fun.

[marcus_of_augustus]

finally.

the Silicoin Valley guys are starting to get it.

this is going to be fun.

no time for resting on laurels ... still got the slashdot and zerohedge crowds to bring up to speed (they seem to be quite recalcitrant to adopt the new technology for techno/financial savants)


Also ...

“bitcoin has many features that make it attractive not only as a potential future currency but as a replacement for all contract law. In one swoop, any economy that takes up Bitcoin as a currency will rewrite all contract law (eliminating the need for lawyers in 99% of situations), will eliminate the need for exchanges, and make international trade infinitely simpler.”

... would love to read/hear a piece from Ravikant expanding on these ideas. Sounds identical to some discussions regarding Open Transactions Ricardian Contract constructs and Smart Contract. Maybe he's been speaking with Monetas?

[vokain]

finally.

the Silicoin Valley guys are starting to get it.

this is going to be fun.

no time for resting on laurels ... still got the slashdot and zerohedge crowds to bring up to speed (they seem to be quite recalcitrant to adopt the new technology for techno/financial savants)

in due time lead and they will follow

[davidgdg]

Zerohedge is gettting there, even if some of its more "traditional" readers are not. This was good:

http://www.zerohedge.com/news/2013-05-12/visualizing-how-bitcoin-transaction-works

[davidgdg]

“bitcoin has many features that make it attractive not only as a potential future currency but as a replacement for all contract law. In one swoop, any economy that takes up Bitcoin as a currency will rewrite all contract law (eliminating the need for lawyers in 99% of situations), will eliminate the need for exchanges, and make international trade infinitely simpler.”

Eh? Why does BTC get rid of contract law?

[n8rwJeTt8TrrLKPa55eU]

Eh? Why does BTC get rid of contract law?

https://en.bitcoin.it/wiki/Contracts