Click to be Added / Removed.
Posted on 02/09/2014 8:42:46 AM PST by Errant
...The acquisitions are in different sectors of the technology space, but Google also spread out geographically with its purchases (not only in the US). This will prove to become a true value differentiator for shareholders, because only through innovation can a company remain competitive or, even more, become a market leader. One area in which we have not heard from Google yet is cryptocurrencies. You know, bitcoin et al. It is an interesting evolution in the online payment market.
It is highly likely that Google is in wait-and-see mode for now with regards to cryptocurrencies, but we are sure that this segment has their full attention. We recently read that Google would possibly accept bitcoins in its payment ecosystem Google Wallet, but we suspect that it might be a bit too early for that. Furthermore, Google might be a candidate for launching its own cryptocurrency in our opinion. The Googlecoin or Gcoin. Google has the largest P2P network in the world, which is what powers a cryptocurrency. Sounds crazy? We don’t think so. Don’t forget that Google owns banking licenses for the most important countries in the world. One day, Google could start putting those licenses to work, and what better way to serve the financial side than with its own cryptocurrency. It would be relatively cheap to do so, and the insight and data arising from its usage would be a huge advantage to the company...
(Excerpt) Read more at zerohedge.com ...
•Russian authorities say Bitcoin illegal
•Why Mt. Gox, the World’s First Bitcoin Exchange, is Dying
•Protesters smash iPhones after Apple bans Bitcoin app
•ATO [Australian Taxation Office] weighs Bitcoin rules
Who Owns The Federal Reserve?
Not here, it’s not.
Agree
How about this for a radical notion:
A conservative Bitcoin.
The trick is that, at least at first, it is *not* a currency, but a network of businesses and individuals, all of whom agree to follow conservative business and social practices and policies throughout their economic life.
Importantly, Democrats and their supporters and donors need not apply. Speculators and those employed by companies of dubious quality need not apply, because when it comes about, “Conservacoins” will not be for public sale.
It will not emerge as an alternative currency until there is a conservative congress and POTUS, who will hopefully enable it by putting parts of it out of reach of future governments.
Oh yeah. I’m going to trust google with my wallet.
Maybe they can offer a financial privacy package with it, one where they promise to limit the release of your most intimate financial details to anyone who will pay for them or has a warrant, or a note from their mommie.
The relevant page is here: http://www.boe.ca.gov/lawguides/business/current/btlg/vol1/sutr/1654.html
Eventually, the state of California will do what it has done for virtually every barter exchange system that has ever come down the pike and start auditing those who have accepted bitcoin to see if they collected the sales taxes. And when it turns out that they didn't (which most have not), the state will start the cascade of fines and assessments as well as suspensions of resale permits.
Google is well aware of these issues, they've been through that disaster in the early stages of their company, and will not get into the cryptocurrency game without drastic changes in the law.
| Free Republic 1st Quarter Fundraising Target: $85,000 | Receipts & Pledges to-date: $38,752 | |||
|
||||
| Woo hoo!! And the first 45% is in!! Thank you all very much!! | ||||
Or, how ‘bout one called the “Freedom Coin”?
Do More Evil®
I agree google cannot be trusted with my privacy, that being said, google probably knows everything about me anyway. /s
Considering how they have totally screwed up Youtube with their google plus crap, I wouldn’t touch them with a 30 foot pole........
They know a lot about me too, but I do NOT and will NOT make it easy for them.
This goes to prove that anyone can coin a “bit coin”/GCoin. If I had a large company, I could theoretically declare my own form of currency. Like the tower of Babel, it won’t work.
I’ll stick to gold and silver. Everyone knows what that is.
Guaranteed the feds would be all over that like ducks on a June bug. To paraphrase from an old Nazi play:
“When they hear the word freedom, they reach for their guns.”
You’re probably right, only worse would be one called ‘The Patriot Coin’...
This overlooks one of the most important aspects of bitcoin - decentralized verification network. Bitcoin holds promise in no small part because the supply of coins is fixed. It would take an agreement by a majority of the nodes running the verification software to make an update that increased the pool of coins. Since bitcoin was created to prevent debasement, this is unlikely.
If Google owned their own verification network they could change the software at their whim and debase the currency. That prospect will harm adoption.
Agreed. If the point of cryptocurrency is privacy and independence from the Feds, Google is not the currency provider of choice.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.