Eric Schmidt, Google approves of Bitcoin. Go long.

stochastic

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Quote from: OgNasty on March 01, 2012, 07:42:16 PM

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Questioner: Would you like to know about my technology called FairCash?

Schmidt: Are you familiar with BitCoin?

http://live.theverge.com/Event/Eric_Schmidt_keynote_at_MWC_2012?Page=2

The questioner's reply was

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Bitcoin is crazy.

I think the questioner is mad because there is a free alternative to his product that was created years ago and has an organic user base. The only people that know about FairCash now is Bitcoin users because both terms were used in the same breath.

OgNasty

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10:36 am Question: If it comes to real democracy, payment has to be peer-to-peer. Would you like to know about my technology called FairCash?

10:37 am Answer: Are you familiar with BitCoin? There are some issues with peer-to-peer money. In most cases it's illegal, besides that it's a great idea. We had our own proposal called Google Bucks, but we didn't want to get into these issues. Most of these systems will have regulatory issues.

http://live.theverge.com/Event/Eric_Schmidt_keynote_at_MWC_2012?Page=2

ribuck

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Eric Schmidt's enthusiasm for Bitcoin was very clear.

Eric reminded me of how Steve Jobs dismissed the idea of a tablet, about five years ago when someone asked whether Apple was going to produce one. Jobs said something like "We've been looking at tablets, but we can't find a way to do it for under $500 that wouldn't be rubbish". He chose his words carefully, to start sowing the idea that there would one day be an Apple tablet, and it would be great, but expect it to be expensive.

I think the "real message" behind Schmid's dismissal of Bitcoin is this: "Bitcoin is so cool. We wish we could do it at Google, but it's difficult politically. We sure hope others will make it happen."

Google already did a great service by writing the Android library for Bitcoin, and Schmidt's endorsement is icing on the cake.

Serge

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i think Eric tried to be as much politically correct when mentioned Bitcoin to not disturb too much their own banking partners

Jon

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No Gods; No Masters; Only You

Only when a powerful man such as Eric Schmidt and his company notices the innovation that is Bitcoin but avoids it because of legal pedantry, do you know that this is the future.

This should be setting a positive precedent going forward. I am predicting steady gains over the long-term and gains in the short-term.

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