Here we go again. I should start hunting people and stapling this to their face.
One of the fundamental ideas of Bitcoin is the separation of state and money; i.e. this means that if you want to get out of the current corrupted financial system, then Bitcoin is your way out.
Try moving that same money from China to the US to see just how instant that process is. Bitcoin is the sole reason for which they are going to try and implement such services. They are afraid that it will ruin them (i.e. we're in that phase now).
Basically the government is still going to track what you're doing with your money and has the right to take it (see Cyprus and Greece) as they please.
Please provide us with the links to these 'recent apps', so that I can do a close inspection.
One of the fundamental ideas of Bitcoin is the separation of state and money; i.e. this means that if you want to get out of the current corrupted financial system, then Bitcoin is your way out.
Try moving that same money from China to the US to see just how instant that process is. Bitcoin is the sole reason for which they are going to try and implement such services. They are afraid that it will ruin them (i.e. we're in that phase now).
Basically the government is still going to track what you're doing with your money and has the right to take it (see Cyprus and Greece) as they please.
Please provide us with the links to these 'recent apps', so that I can do a close inspection.
http://personal.natwest.com/personal/ways-to-bank-with-us1/mobile-banking/mobile-payments.html
I agree with some of the stuff about problems with the banks. However I'm not a fan of the mega wealthy being able to hide their wealth away - see piketty's rationale for greater wealth transparency.
Separate to the above is the practical use cases for Bitcoin which we have to try to analyse objectively. I doubt this internally in the UK now. Add on the ~5% fiat->BTC fees and it gets worse. Moving money abroad will become easier if there is a sufficient demand for it.
