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Author Topic: Can you help me get past my concerns  (Read 1844 times)
NEM minnow
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June 12, 2014, 04:15:26 AM
 #21


In 5 years from now, people will still have computers in the rich countries, but the primary device will be the smart phone.  For people in the developing world, it very well might be the only device they have and need.  At that point bitcoin as an international, quick, easy, and universal currency might just be very attractive.  Most of the poor countries have informal markets which are actually ideal for bitcoin transfers phone to phone. 

That is a long way away.  Lots of development to bitcoin with apps and infrastructure need to be developed.  But yes, if I was a fruit stand seller in Zimbabwe, or half a dozen other countries, bitcoin would be more favorable than the national currency.  In the US, the dollar is the world currency so it is fairly secure.  But in a small African nation, that country can't really support its own currency and it is easy to fail.  Money is a confidence game and the people can have more confidence in bitcoin because it is used worldwide. 
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June 12, 2014, 06:30:53 AM
 #22

Just stick to bitcoins. Some alts are gonna kick ass but frankly not yet 100% clear which.
Cryptos though are the future...

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June 12, 2014, 07:14:16 AM
 #23

1. One company is starting to hold 100% of its Bitcoin Payments, such as Malaysian Retail Giant i-Pmart.
    http://www.coindesk.com/malaysian-online-retailer-accepts-bitcoin-wont-convert-fiat-currency/
 This is just beginning. Those corporations who think they must immediately convert to USD or local currency are fearing the holding of Bitcoin will lose value. Now the bitcoin price is steady increasing. There are increasing number of people or corporations who are happy to embrace this new money system. The situation is turning around. If business are holding  all of the bitcoin payment, they will make more profit than dumping the coin righ away.
2. Confidence to new technology is building incrementally. People will realize the benefit of using bitcoin. Offline wallet, cold wallet, is used for storing bitcoin for secure reason, in which they don't spend then in near future.If transactions are need to do, off line wallet is not convenient. I suggest to use bitcoin qt or online wallet. To secure your wallet, you need to set up passphase and aware of the virus.  I think it is enough to secure your wallet.
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June 12, 2014, 11:30:47 AM
 #24

Speed, amazing business tool, it fascinated me what can be built with it.

-I'd rather be mining
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