Hello MintCoin Community,
I thought I would lighten up the mood in here with some 'light-hearted' research.
I just did a Google news search for 'bitcoin' and only found articles pretty much slamming bitcoin, including the famous Warren Buffett showing a profound ignorance of how Bitcoin works, comparing it to a check or money order Huh
Naysayers included: Goldman Sachs, MarketWatch, The Economist, Etc.
Thoughts.
Bitcoin has an $8 BILLION USD market capitalization at current prices. For comparison, Darden Restaurants (Ticker: DRI) has a 6.5 Billion Market Cap.
"Darden Restaurants, Inc. is a full service restaurant company. As of May 26, 2013, the Company operated through subsidiaries 2,138 restaurants in the United States and Canada. In the United States, it operated 2,105 restaurants in all 50 states, including 822 Olive Garden, 678 Red Lobster, 430 LongHorn Steakhouse, 49 The Capital Grille, 44 Yard House, 33 Bahama Breeze, 31 Seasons 52, nine Eddie V's Prime Seafood, six test synergy restaurants (which house both a Red Lobster and Olive Garden restaurant in the same building) and three Wildfish Seafood Grille restaurants."
Darden is a Cashflow Machine.
BitCoin is 23% Larger in 'Cumulative Value' 'Market Capitalization' or simply (# of Bitcoins x Current Bitcoin Price)
When the collective world puts $8 Billion behind something, it is usually for a legitimate reason. Not to mention that BitCoin investors are much more intelligent, wealthy, and technologically sophisticated than the 'average' person reading the main-stream 'news'.
While reading these articles about the 'Doom' of BitCoin and it's subsidiaries, I could not help thinking:
1) People still don't understand the technology. I would wager that <0.5% Of the US population could get even close to explaining BitCoin. What will BitCoin (& many Alt. Coins by default) price look like when ~ 5% of the population understands BitCoin?
2) The Major players who have the most to lose, such as Big Banks, Governments, Money Exchanges (Paypal, American Express, Etc.) are frightened to death of BitCoin. They can see the potential, but they are not smart enough to profit off of the movement. So they seek to destroy it with falsehoods and mass-media bashing when shown the golden opportunity with the Mt. Gox debacle.
In Addition, BitCoin prices have been hanging very strong in the face of this wave of negativity, having recovered strongly from the Mt. Gox issue and showing surprising strength IMO. You have to remember that when corporations (Who nearly control everything in the USA) have MASSIVE amounts of money to lose, they will respond like any self-sustaining organism, and defend themselves vigorously, often times in deceitful, underhanded and maniacal ways.
The BitCoin owners aren't buying it. They are in fact buying more BitCoin, and spending them increasingly in interesting ways. They are smart enough to see through the irrelevant smear campaign. This IS the Internet of Currency.
"In addition, some A-level venture capitalists are funding a number of companies that will raise the level of the game"
How does this relate to MintCoin? You can almost certainly view MintCoin as a highly leveraged play on BitCoin. It even has a way cooler name & design. Need I mention transaction times? I can buy a cup of coffee with MintCoin- How long does 'BitCoin' take to confirm a transaction again?
So if BitCoin gets running again on 'speculation', increased merchant adoption, etc. You will see MintCoin rise in a % that is 3-10x BTC IMO.
The one positive article I found about BitCoin mentioned how despite all the nay-saying, merchant adoption is clearly on the rise. (
http://www.csmonitor.com/Business/2014/0313/Bitcoin-why-businesses-are-buying-in-despite-critics-and-start-up-woes-video)
"In particular, new businesses whose profit margins are often razor-thin in their debut years are thrilled at having an option to avoid the 3 percent fees they must pay to credit card companies, on average. And if they can be seen riding the hottest new pop culture wave while they do it, so much the better."
"The retail website Overstock.com recently began accepting the digital currency and is currently taking in about $30,000 per day using Bitcoin – about 1 percent of its roughly $3.6 million daily sales, according to TechCrunch. TechCrunch, which is devoted to analyzing start-up technology, estimates that Overstock will push that number to six figures by the 2014 holidays."
"Across the Deep South, where the tea party has strong roots, there is a growing acceptance of Bitcoin “as a way to get the Federal Reserve out of banking,” he says."
"Many of the doctors he advises across the region who have had a growing number of uninsured cash patients are turning to Bitcoin."
There is good reason to still believe in BitCoin, and if you believe in BitCoin, you should believe TENFOLD in MintCoin.
Miners, you can turn your machines back to the 'ON' button for MintCoin. I am going to making things a little more interesting over at Earthazaar.com in the next couple days, so stay tuned. You are welcome to hedge/ lock in profit on your mining proceeds with my physical silver Bullion coins when the price makes sense to do so. Why bother switching from coin to coin like some scatter brained maniac? Just focus your bots on Earthcoin and cash out some of your earnings in Physical Silver Bullion when the EAC price makes financial sense to do so.
