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Author Topic: 2013-06-25 UK Telegraph - Why Bitcoin is on the money.  (Read 2824 times)
marcus_of_augustus
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June 24, 2013, 10:58:34 PM
 #1

Some interesting tidbits ...

http://www.telegraph.co.uk/finance/currency/10139651/Why-Bitcoin-is-on-the-money.html

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At the G8 meeting in Northern Ireland last week ..... Largely unnoticed, an interesting advert appeared in a handbook accompanying the G8, placed by a company that was until recently known only to a small number of technology entrepreneurs and early adopters. The advertiser was Mt Gox,

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Alec Ross is a former senior adviser on innovation to Secretary of State Hillary Clinton; Jonathan Luff is a former international affairs adviser to Prime Minister David Cameron

Appear to be policital wonks getting themselves up to speed on BitCoin ....

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June 24, 2013, 11:00:45 PM
 #2

Some interesting tidbits ...

http://www.telegraph.co.uk/finance/currency/10139651/Why-Bitcoin-is-on-the-money.html

Quote
At the G8 meeting in Northern Ireland last week ..... Largely unnoticed, an interesting advert appeared in a handbook accompanying the G8, placed by a company that was until recently known only to a small number of technology entrepreneurs and early adopters. The advertiser was Mt Gox,

Quote
Alec Ross is a former senior adviser on innovation to Secretary of State Hillary Clinton; Jonathan Luff is a former international affairs adviser to Prime Minister David Cameron

Appear to be policital wonks getting themselves up to speed on BitCoin ....

good catch!

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June 25, 2013, 03:28:45 AM
 #3

Wow, this was an extremely positive article!  Shocked

Best bits:
Quote
Technology is reinventing finance. For the individual, there is a widening array of options for receiving, holding, transferring and spending the money that we earn; likewise, for governments, there are opportunities to reduce costs, simplify processes, and engage with citizens. In the developing world, value transfer via SMS is already replacing cash. With virtual currencies like BitCoin now operable without the need for a bank account, why would you open one? We need to ask whether the 5bn people coming online in the next five years will want to use our conventional financial tools and systems. We have hardly made a persuasive case for them in recent years.

Quote
Last week, the world’s most powerful nations grappled with the complexity of a global tax system. But almost unnoticed, the rise of digital currencies like BitCoin threatens to render obsolete even the modest progress made by the G8. BitCoin's distributed network structure makes it hard for any one country or group of countries to regulate its activities.

Quote
Unless the issues that BitCoin raises are addressed in a thoughtful and proactive manner by existing authorities, the disintermediating power of technology is likely to have a disruptive impact on currency systems and those that regulate and rely on them. And the effect could be as significant for governments as the rise of social media has been for individuals.

The authors were pretty well known in political circles, too, both in the US and GB. Great stuff indeed.

Luke Parker
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June 25, 2013, 05:47:43 AM
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They are just realizing that their old financial system is doomed!

Amazing  Shocked

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June 25, 2013, 07:30:25 AM
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This is one of the most important articles I've ever seen written about Bitcoin.

The writers are respected government advisers who have come together and attached both their names to this explicitly to make a point to whoever is willing to listen.
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June 25, 2013, 07:36:10 AM
 #6

Agreed, good read.
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June 25, 2013, 04:21:04 PM
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This is one of the most important articles I've ever seen written about Bitcoin.

The writers are respected government advisers who have come together and attached both their names to this explicitly to make a point to whoever is willing to listen.


Agreed. They see the writing on the wall.
Stephen Gornick
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June 25, 2013, 08:14:16 PM
 #8

Heh ... love the comments section!

"It seems we need protection, if we use Bitcoins, from nasty people who might scam us, to be provided by governments [who most certainly will scam us]" (my interpretration in brackets).

Unichange.me

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Bitcopia
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June 26, 2013, 02:27:04 AM
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"We need to ask whether the 5bn people coming online in the next five years will want to use our conventional financial tools and systems. We have hardly made a persuasive case for them in recent years."
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