A bet on Bitcoin's future integration
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Money 3.0: How Bitcoins May Change the Global Economy

Money 3.0: How Bitcoins May Change the Global Economy | A bet on Bitcoin's future integration | Scoop.it
Despite shutdown of the illicit Internet marketplace Silk Road, the virtual currency Bitcoins shows great promise for a wide range of legitimate applications.
SERRAIN Margaux's insight:

Great article from the National Geographic Magazine - good quality journal.

 

It gives optimistic perspectives for the digital currency.

First, Bitcoin could be usefull in developping countries where credit systems are not well implemented and functioning yet (Africa and Latin America are mentioned).

Then, the sector of international remittances could be a promising sector for the virtual currency. Indeed, workers living abroad could use Bitcoins to send their money home (lower costs).

Finally, the Bitcoin has a certain legitimacy in our digital economy (Bitcoin is assimilated to money 3.0). Even in case it would not be used and understood by the entire world, Bitcoin could have a positive impact on banking companies since it could force banks to lower their transaction costs.

 

 

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Bitcoin Is Evil

Bitcoin Is Evil | A bet on Bitcoin's future integration | Scoop.it
There’s an agenda there, and it’s a bad one.
SERRAIN Margaux's insight:

Article written by Paul Krugman, brillant economist who received the Nobel Prize in Economics in 2008.

 

Violent title for a negative article on the digital currency that is accused of having no reliable store of value.

Unfortunately, Krugman who benefits from a large public audience is not convinced yet by the digital currency.

 

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Bitcoin trade ban for Chinese banks

Bitcoin trade ban for Chinese banks | A bet on Bitcoin's future integration | Scoop.it
Chinese financial regulators have banned the nation's banks from handling transactions involving the Bitcoin virtual currency.
SERRAIN Margaux's insight:

The Bitcoin is a decentralized currency which means that it is not "backed by any nation or central authority".

It constitutes a major risk for the Chinese financial authorities who decided to ban trade involving the virtual currency.

However, private use of the currency is still authorized for Chinese people.

 

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DC businesses starting to accept Bitcoin - Washington Post

DC businesses starting to accept Bitcoin - Washington Post | A bet on Bitcoin's future integration | Scoop.it

 

 

SERRAIN Margaux's insight:

Interesting article that underlines the enthusiasm for the use of Bitcoin.

Bitcoins is helpful for companies that want to distinguish themselves from competitors by offering another mean of payment.

Bitcoin allows small fees on big invoices, contrary to credit card payments.

Bitcoin's risk related to its price volatility is similar to the risk of foreign exchange exposure.

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What Bitcoin and Internet of Things Startups Have in Common

What Bitcoin and Internet of Things Startups Have in Common | A bet on Bitcoin's future integration | Scoop.it

"These disruptive startups will market a product, which although enabled by Bitcoin and IoT technologies, wrap and hide the underlying protocol in a product that is significantly better than the competition."

SERRAIN Margaux's insight:

Article from a blog. Tomasz Tunguz is a venture capitalist at Redpoint.

 

His point is that companies using Bitcoin would not declare themselves Bitcoin companies, in other words, Bitcoin would not be mentioned on purpose on the top line because it is not a value added for customers. It is just a protocol that would allow the companies to do better than their competitors.

 

It is an interesting point of view. Usually, people say that the increasing popularity of the Bitcoin could be an asset for a company that could distinguish itself from its competitors by using it...

 
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Explaining Bitcoin Without Buzzwords - Bloomberg

Explaining Bitcoin Without Buzzwords - Bloomberg | A bet on Bitcoin's future integration | Scoop.it

"Techies are trumpeting a so-called virtual currency called Bitcoin that they say could revolutionize global trade. Financial wonks are shouting from various corners of Wall Street about the regulatory pitfalls and the volatility, highlighted by a tumble in valuation that brought Bitcoin to the world’s attention."

SERRAIN Margaux's insight:

Nice article to get simple information on the digital currency which has been a hot topic over this year.

 

Bitcoin was created in 2009 by a mysterious Satoshi Nakamoto and its value against the dollar has been skyrocketing from mere cents to around $600.

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Bitcoin: Price v hype

Bitcoin: Price v hype | A bet on Bitcoin's future integration | Scoop.it
Virtual currency Bitcoin is attracting increasing media attention and hit $1,000 (£613) in November. Did the hype drive the hike?
SERRAIN Margaux's insight:

Article from BBC Magazine relating Bitcoin's price volatility to its media coverage.

 

The following events provoked a surge in the price :

- The closure of the Silk Road website in October,

- The statement of a US Senate committee on the legitimacy of virtual currencies in November.

 

Some say that the increase in price is due to the publication of regulatory issues. Others think that "the currency's price fluctuations are self-fuelling".

 

But, what about the currency in itself ?

According to Michael Jackson, a partner at venture capital firm Mangrove Capital Partners, "media hype is creating buzz but we are a long way from Bitcoin being a mainstream currency," He justified himself by mentioning the volatility and the untraceability features of Bitcoin. Note that these characteristics could be removed and/or improved...

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Why the Chinese can't get enough of Bitcoin - despite bank ban

Why the Chinese can't get enough of Bitcoin - despite bank ban | A bet on Bitcoin's future integration | Scoop.it

"The Chinese have seized the limelight in recent months as the world’s leading Bitcoin traders and “miners."

"Bitcoin trading is still high in China, even with new regulations banning banks from using the digital currency (...) because they have very few alternative places to put their savings. Chinese banks offer minimal interest rates; the Shanghai stock market is in the doldrums – at half its 2007 peak level – and real estate, a traditional savings vehicle, is now so expensive in China as to be beyond the reach of most people."

SERRAIN Margaux's insight:

Relevant article on China attractiveness for Bictoin.

Note that I didn't know about the Cristian Science Monitor website. Many of the journal's members are part of the Cristian Science but the aim of journal is not to promote it. Diversified articles on many topics are published on this website.

 

This particular article on Bitcoin states that the currency generates the greatest returns for Chinese investments.

It also mentions that the sucess of Bitcoin in China may stems from its gambling characteristic since Chinese people love gambling.

Finally, China makes a bet on Bitcoin. They see the currency as a future opportunity to "be a dominant player" and "lead the world".

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Winklevoss twins' $20m plan to make Bitcoin mainstream - Telegraph

Winklevoss twins' $20m plan to make Bitcoin mainstream - Telegraph | A bet on Bitcoin's future integration | Scoop.it
The Winklevoss twins, the square-jawed entrepreneurs best known for their bitter wranglings over Facebook, have turned their attention to dragging Bitcoin out of the shadows and into the mainstream.
SERRAIN Margaux's insight:

Article from the British press but written by a US business editor on the Winkelvoss brothers' big interest in Bitcoins.

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