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Gold 2.0 NOT Tulip Mania: How Big Is The Cryptocurrency Opportunity?
Market Oracle, UK ^ | 5 December, 2013 | DK_Matai

Posted on 12/05/2013 1:02:19 PM PST by Errant

Make no mistake, the Bitcoin opportunity is creating a fast evolving trillion dollar new market in cryptocurrency eCommerce and more importantly mCommerce or mobile-Commerce. The future of cryptocurrencies is being secured right now with the launch of many new apps to enable digital cash, electronic payments and secure eWallets using cryptocurrencies via smart phones and other digital devices such as secure pens, sophisticated crypto-watches and customised memory sticks. Cryptocurrency adoption is growing very fast, in a similar exponential curve to the adoption of the world wide web in the years following 1995 or even the spread of electric power exactly a hundred years before that.

(Excerpt) Read more at marketoracle.co.uk ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: bitcoin; cryto; currency; gold; mania; money; silver; tulip
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I rate this article a good one with shared insight on what may or may not (too early to tell) prove a historic change in how the world does business. One item I disagree strongly with the author about, is his suggestion that crypto-currency transfers are anonymous. With the right tools, transfers might eventually be traced all the way back to the creation of the actual crypto-unit used.
1 posted on 12/05/2013 1:02:20 PM PST by Errant
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To: Errant

You do not want a currency that can swing +- 500% over a week, costs commission to obtain and cost even more commission to sell and is only good as long as nobody figures out how to cheat it.


2 posted on 12/05/2013 1:08:43 PM PST by Usagi_yo
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To: Usagi_yo
Except for the +- 500% in a week, you could be talking about FRNs, or any other fiat currency. And except for the huge increase in value (not a bad thing in my book), its ability to recover from downturns is pretty amazing.

Mt. Gox: Last:$1,130.00000

3 posted on 12/05/2013 1:16:11 PM PST by Errant
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To: Errant

In before the reflexive “bit torrent is a scam” drooling idiot who says nothing else.


4 posted on 12/05/2013 1:19:59 PM PST by gaijin
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To: Errant

currency bump for later.....


5 posted on 12/05/2013 1:23:08 PM PST by indthkr
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To: Errant
With the right tools, transfers might eventually be traced all the way back to the creation of the actual crypto-unit used.

The idea behind that is to make it more expensive to decrypt than the reward would yield. That tends to be a moving target.

In answer to the title question: the opportunity is great but very risky, but so are junk bonds or the wilder regions of the stock market. Caveat emptor.

6 posted on 12/05/2013 1:27:02 PM PST by Billthedrill
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To: Errant

bitcoin might not be “it” but I think a secure online monetary system is very possible


7 posted on 12/05/2013 1:27:03 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: Usagi_yo

BUMP

I totally agree


8 posted on 12/05/2013 1:27:18 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: Errant

If a bitcoin’s worth a grand, how do you use it to buy somethinig worth $100?

Can these electronic apps allow you to buy something electronically with precious metal holdings instead of needing to use a crypto-currency?


9 posted on 12/05/2013 1:28:26 PM PST by JediJones (The #1 Must-see Filibuster of the Year: TEXAS TED AND THE CONSERVATIVE CRUZ-ADE)
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To: JediJones

good question why just botcoin? why not apps that let you use many different kinds of currency, even gold and silver?


10 posted on 12/05/2013 1:34:15 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: gaijin
It's the same crowd who've said the steamboat was just a folly, man would never fly, and computers would never be useful. ;)

We can only survive now through technological innovation. Technology in the hands of individuals may allow us one day to even slow down the intrusion of tyrannical governments or other monopolistic entities into our daily lives and help to make all people truly free, as our founders and the Almighty intended.

11 posted on 12/05/2013 1:34:15 PM PST by Errant
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To: GeronL

I’d invest in the apps that could do that before investing in Bitcoin itself.


12 posted on 12/05/2013 1:36:20 PM PST by JediJones (The #1 Must-see Filibuster of the Year: TEXAS TED AND THE CONSERVATIVE CRUZ-ADE)
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To: GeronL
bitcoin might not be “it” True, but it is the first "it" of its kind... ;)

You gotta start someplace.

13 posted on 12/05/2013 1:37:26 PM PST by Errant
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To: JediJones

Yep.

I had an idea for an online currency once. In my plan there was a 1 to 1 correlation with the US dollar, AT FIRST. The idea was to not depreciate the online currency while the US dollar would become less and less valuable.

Too bad I didn’t have the means to do it, but it definitely would not have been as flashy as bitcoin.


14 posted on 12/05/2013 1:39:12 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: Errant

A lot will be learned from bitulips


15 posted on 12/05/2013 1:39:40 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: JediJones

A Bitcoin can be subdivided into 0.0000001 units (eight decimals IIRC).


16 posted on 12/05/2013 1:40:41 PM PST by Errant
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To: Errant
The words “Internet” and “anonymous” should never be used together in the same sentence unless the phrase “Not a snowball's chance in hell is the” precedes them. ;-)
17 posted on 12/05/2013 1:42:14 PM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: GeronL

There are no limits on how many tulips can be raised, given land and sunlight or even hydroponics. The creators of Bitcoin limited the total number able to be mined to about 22M.


18 posted on 12/05/2013 1:44:54 PM PST by Errant
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To: Mad Dawgg

Exactly ;)


19 posted on 12/05/2013 1:46:13 PM PST by Errant
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To: Mad Dawgg

And couldn’t this new system make the dollar worthless?(more worthless)


20 posted on 12/05/2013 1:46:54 PM PST by refermech
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