Oh I think we've seen something already -- virtual currency will eventually be established, but Bitcoin may be irretrievably damaged -- and likely has set everything back more than forward if Shrem has collaborated with Silk Road as accused:
http://www.washingtonpost.com/blogs/the-switch/wp/2014/01/27/feds-charge-bitcoin-start-up-founder-with-money-laundering
wrote:
Ok, it has legs (AKA traction). My Chase account is now connected to my bitcoin account. That's pretty cool. And guys in suits are prowling the bitcoin meetups. How can we get in on this is their question. It's not like 1999, it's more like 1994. Paper money has to go away, there is no doubt about that. The US Government can be almost shut down by a crazy Canadian. And China is now in full bitcoin mania.
Think the bitcoin dance has a chance, and those 8 decimals places mean you can pay almost by the word. Money based on math and science? Wow! Yes, you can set up the foundations of your own bank.
About time! :-)
Some of the best tutorials here:
https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-what-is-it
Myself? 1/10 of a bitcoin to my name, and that investment has done pretty well. I use coinbase.com, they're out of San Francisco, that's good enough for me. Expect massive amounts of VC $$ to move into the bitcoin ecosphere over the next few months. And the official currency of Brooklyn? Or so I've heard. Or just wishful thinking. For the millions of people that don't have bank accounts, it's the perfect alternative.
We have zillions of posts on more startups, more clones of clones, more GroupOn's, more social, more of what is already out there, chasing the next million, lots of great ideas, but they just seem kind of boring to me at this point. Another Vodka delivery service to parched millenials? I guess it's a noble venture, but building your own bank (APIs everywhere), empowering a community, just seems so much cooler. Waiting for the next big thing? This is it. (IMHO). Remembering 1994 very well.
Yes, lots of crypto-currencies, but bitcoin has the brand name for now. Expect wild ups and downs, that's the nature of tulips, black swans and bubbles, and in the end, well science will save us all. It really will. It does ok by that.
Happy Holidays ... ;-)
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