10 reasons for bitcoin to prosper - page 3.

Arguably, BTC's most compelling use case is for commerce in unstable nations with chronic inflation issues

The popularity of mobile money in parts of sub-saharan africa (M-PESA in Kenya etc) arguably paves the way for BTC to come into play going forward

Lots of telco hardware infrastructure is getting built right now and that is going to be key

Still some time away bit not too long now, I reckon

Dioptriy

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so you realy think btc could become official currency in some country? Have big doubts for many reasons.

Maybe someone can add something to my list? Be my guests!

gaston909

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Quote from: bythesea on October 22, 2013, 04:13:05 AM

And the only reason why not to, is that it can be to risky to invest and depend on it. There are not enough ppl who will sell a house for X amount of bitcoins and risk losing a good % due to price fluctuation.

Risk is overrated.

instant conversion to fiat, no risk.

long term risk ib btc... might go up.

aminorex

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Sine secretum non libertas

Re: Zimbabwe

Not on fundamental grounds would that imply $1k. The BTC economy is turning at $22bn USD2013 /an currently. Zim GDP is only $11bn USD2013 /an, so on a purely economic grounds it should only increase the value of the ccy to ~300 USD. However, gaining FX status would change the regulatory environment and global mind-set towards BTC dramatically, so that it might experience a 1K bubble effect. On a fundamental level, however, penetrating the $2tn global black market or absorbing a significant fraction of the secret-no-more swiss banking industry would be much more significant that a Zimbabwean adoption.

It would be brilliant move by Zim, however. Suddenly their currency would be appreciating, and living standards would skyrocket.

BitcoinHeroes

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If zimbabwe use bitcoin as their currency then we can see it became 1000$

djalexr

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Quote

It is a bit difficult for the government to shut down the internet though. Businesses would not be too happy about that. The government is bought out by businesses to a certain degree I believe so it would be in their best interest to keep the internet up and running and I think that there would finally be an outcry from the American people about their freedoms being taken if it got to this point.

Yep, gross manipulation of a countries banking system and the systematic consolidation of wealth amongst rich bankers is one thing...but taking away people's facebook, twitter and youtube would surely be a step too far and grounds for a revolution!

BitChick

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Quote from: Jeffrey Boyd Garrison on October 26, 2013, 05:50:18 PM

Are we ignoring the point that government controls utilities, utilities control power, power controls internet, and internet controls bitcoin?

It is a bit difficult for the government to shut down the internet though. Businesses would not be too happy about that. The government is bought out by businesses to a certain degree I believe so it would be in their best interest to keep the internet up and running and I think that there would finally be an outcry from the American people about their freedoms being taken if it got to this point.

LiteCoinGuy

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In Satoshi I Trust

Quote from: Johnny Bitcoinseed on October 22, 2013, 04:55:18 AM

Certainly has good potential. Reminds me of the Internet in 1995. Nobody I knew at that time could foresee the full extent of change that was at hand. Maybe this time it is the same in currency? Maybe. Maybe not. Only time will tell but it certainly is an interesting ride - and what makes life living more than an interesting ride?

cant say it better!

Jeffrey Boyd Garrison

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Are we ignoring the point that government controls utilities, utilities control power, power controls internet, and internet controls bitcoin?

giantdragon

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Main value of Bitcoin is impossibility for the government to confiscate it (of course if the owner properly encrypted private keys).

hamiltino

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P2P The Planet!

Yeah if government shutdown exchanges and makes it illegal to use. It will go down on value but still live on regardless. And it may take longer to adopt but i have no doubt it will still grow.

hamiltino

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P2P The Planet!

Nice, Thats a lot of effort you put in.

Solid Points.

Johnny Bitcoinseed

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Johnny Bitcoinseed

I agree, it is never wise to put all your eggs in one basket. Try a number of different ways of preserving wealth. AG and AU are tried and true, for example. Get some and forget about the market ups and downs. Its for a measure of safety (at least you have something other than paper money) so you can sleep at night.

hulk

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bythesea

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Quote from: johnyj on October 22, 2013, 05:51:45 AM

Quote from: bythesea on October 22, 2013, 04:13:05 AM

And the only reason why not to, is that it can be to risky to invest and depend on it. There are not enough ppl who will sell a house for X amount of bitcoins and risk losing a good % due to price fluctuation.

It is happening... I just saw a guy claimed that he sold one of his house for 300k dollar and use all that money bought bitcoin in July, now he already doubled his investment

I can claim that I sold something for 500k dollars, but statement to be true has to have a proof behind it, right. Taking someones word for granted doesn't seem logical to me. BTC opened at 178$ or something today and now I think its 195$ ( too lazy to check ), so that's some 17$ more now. Granted, its like 9% more or so, but would you risk it if stakes are high?

Hawker

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Normally I don't like listicles but this is a great list - every part of it makes sense. Especially the part about the present value of Bitcoin being drop in the ocean.

This forum needs a "Like" button for great posts like OPs.

Topic: 10 reasons for bitcoin to prosper - page 3. (Read 7050 times)