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Bitcoin getting traction at the world economy

Discussion in 'Business & Economics' started by Zanna, May 15, 2016.

  1. Zanna

    Zanna Member

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    Many people who follow the bitcoin new might have seen that cryptocurrency are being more and more accepted by various individuals and groups as valid currency. Long gone are the days when cryptocurrency was almost exclusively the laffy-taffy of criminals, as it's become more popular with people of various other backgrounds now there's even public services that accept bitcoing as payment, like in Zug, Switzerland.*

    Now there's an effort by the Winklevoss brothers Cameron and Tyler, who have founded Geminy Trust Company, to create a more realiable almost bank-like method of using bitcoin and blockchaining**. Their system would enable users to use bitcoin in a transparent way, both with instantaneous transactions as well as more safely than peer-to-peer over-the-internet transactions, hoping to inspire modern banking to evolve and adjust into the era of cryptocurrency.


    *Source: http://www.helenabitcoinmining.com/...ept-bitcoin-payments-for-government-services/

    **Source: http://www.bloomberg.com/news/videos/2016-05-12/the-winklevoss-twins-add-ether-to-bitcoin-exchange
     
  2. Lagboltz

    Lagboltz Well-Known Member

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    Because of my personal paranoia I do not trust bitcoin. Maybe I'm old fashioned.
     
  3. Zanna

    Zanna Member

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    I don't blame you for being skeptical, actually cryptocurrency in general is a very volatile field of economy and should be treated with caution. Until it becomes common currency it won't be any safer to use than it is today.
    Not that investing in certain currency savings is totally safe either...you never know what's about to happen.
     
  4. Lagboltz

    Lagboltz Well-Known Member

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    I would feel safer and use bitcoin if most of the large e-tailers such as Ebay, Amazon, and large department stores accepted it.
     
  5. dogtowner

    dogtowner Moderator Staff Member

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    I just have a hard time seeing the need.
     
  6. Zanna

    Zanna Member

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    True but I think these companies would require stricter regulations on bitcoin to avoid fraudulence.

    A lot of people seem to have invested in bitcoin's volatility to play it like a stockmarket game. There's a lot of actuall money invested on bitcoin, funny as it may seem.
     
  7. dogtowner

    dogtowner Moderator Staff Member

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    That makes perfect sense.
    The next big thing is the Holy Grail of investing. Lots of people made money off Facebook etc.
     
  8. Lagboltz

    Lagboltz Well-Known Member

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    That is one reason why I distrust it. It's like paying for a TV using stock certificates.
     
  9. DavidCervid

    DavidCervid New Member

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    I think Bitcoin mirrors the way that while business is progressively worldwide and computerized, cash isn't. Be that as it may, while Bitcoin may pick up footing as a protected, simple to utilize retail money in the computerized period, I'm not entirely certain it will ever be a worldwide cash a la the dollar or euro, one in which obligation is issued or stocks exchanged. All things considered, it has no sovereign to ensure its esteem and no national bank to direct its good and bad times (which have a tendency to be sharp).

    bitcoin.jpg

    The New Economic Movement made a cryptocurrency. Presently they need to make a monetary insurgency.

    Wanting to level the financial playing field, a gathering called the New Economic Movement (NEM) means to build up a flourishing and open computerized economy that is outside of the domain of current power agents. Controlled by its new cryptocurrency, Nemcoin, NEM says it anticipates building "another economy in view of the standards of money related flexibility, decentralization, uniformity and solidarity."
     
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