What Needs to Happen for Bitcoin to Go Mainstream

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Do you know what Bitcoin is and why you should care about it? If you answered no, point made. Read more at: http://www.entrepreneur.com/video/246177

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4 COMMENTS

  1. I think we already have a well proven system called Paypal that reduces the "financial layer that is global and frictionless". I think you are too caught up in the cons of this whole thing plasticman. At the end of the day, in order for any medium of exchange to operate smoothly (it wouldn't be a currency if it's not doing its job), there needs to be a medium that controls the process. (make sure that the money is still going to be there, and not lost or devalued)  The medium is the government with our current currency, and because of its power and size, it is able to keep much of this under control. Of course, some of them do a shitty job. i.e. Greece… Bitcoin's medium is an algorithm. It is nothing but 1s and 0s from computer that has proven to "mine" certain number to keep the market stable.  It's from a mathematical equation. If some genius ahole decides to hack the thing, boom your money is gone. Also, many smart asses have come up with numerous tactics to over value or devalue stocks for years. How hard do you think it would be with a mathematical equation? I've been in the PR business, and trust me it's not hard to make general population believe certain things. How do you think Leeman bubble kept piped up from all those years without much knowledge of the public So basically, you say financial innovation, but it's not really doing the two basic functions of a medium of exchange here: safety and transfer-ability.

  2. Too many people miss the big picture when it comes to bitcoin, it isn't about replacing government currency, it is about the technological advancement known as the blockchain.  This tech gives everyone access to a financial layer that is global and frictionless.  It is an internet protocol that enables permissionless financial innovation that is free the the friction of the legacy systems.  The currencies and digital assets that we are familiar with can be used on top of bitcoin to enable greater efficiency.  To say that using bitcoin is "like trying to go back to the stone age of trading fish for lumber" really shows a fundamental lack of understanding of what bitcoin is.

  3. Bitcoin is nonsense the whole idea of government printing money is to enhance stable economy via monetary policies without it the whole economic system wouldn't have developed to what we enjoy today This is like trying to go back to stone age of trading fish for lumber and who makes money of these weird ideas? Hmm cant wait for this bubble to pop

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