Where Bitcoin matters, where it’s important, is the developing world. Ever tried to exchange Colombian pesos in Guatemala, or Tanzanian shillings in Zambia? I have, and believe me, it’s a Kafkaesque nightmare. Now imagine living in the developing world and trying to sell goods or services internationally. Talk about a pain point. Until Bitcoin.
An interesting point. My comments to this bitcoin bubble are plain and simple. Bitcoins created a market. Market is backed by people who are in the center of exchange. All the inflows and outflows are based on one simple fact: trust. If market participants cant be sure, that their money are safe, there will be only speculators aka hot money and everybody knows that hot money do not create stability. Stability will be created by inflows that trust the infrastructure, technology and longevity! Bitcoins doesn’t have that, … yet.