What are your thoughts on Bitcoin and how they are changing e-commerce?
I think that is a joke ..a lot of people is loosing out on money ..the stock market seen their true colors
Bitcoin and other non-national internet currencies simply don't have the ground to stand on their own. Bitcoin really showed the weakness in the system with the Silk Road market, which was one of the primary markets that Bitcoin excelled at... where you could buy all sorts of illegal things.
In and of itself, it is a good idea, but the lack of a real-world cash usage makes it a currency that is only usable in a very limited fashion. When Bitcoin (or any of the other virtual currencies) allows real-world purchases via a system like, for instance, Google Wallet, they may find themselves a new hold on the world.
There are actually a few retailers now such as Tiger Direct that are accepting Bitcoin payments for their transactions. The only real concern I can see with Bitcoin or other cryptocurrencies is with the high volatility of Bitcoin prices. Security with the currency seems pretty well maintained, at least for now.
But one on-line retailer still isn't enough. It can't be considered a true currency when it isn't usable in transactions everywhere.
Interesting, as it now seems that Google is looking at adopting Bitcoin into their financial systems. This may be what is needed to really turn this into a real useful currency!
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