BITCOIN MAINSTREAM IN 2014!

25 Jan

Bitcoin Mint

Bitcoin invented 2009 by Satashi Nakamoto from Japan.

Last year was the real entrance of BITCOIN as a Cryptograhic Currency to a broader Market. It´s value surged from

14USD to  a max. 1200USD/Bitcoin from January to November. Amount of BITCOINS today 12.3 milj with max volume

limited to 21 milj mints. Quickly getting “Mainstream” with constantly rising number of people involved in transactions.

FED Bernanki have expressed positive comments on Bitcoin as Crypto currency! Austrian Economics with Hayek is

positive to a parallel Internet Currency like BITCOIN. Founder of Swedish Pirate Party Mr RICK FALKVINGE with others

are supporters and thinks value in next few years can increase at least 1000 times!!!Wow! He recently in an article forwarded

how BITCOIN can bring down the USD! Bitcoin can break current cycle of borrowing=DEBT and overspending as today most purchasing of goods is converted to USD before buying  ex from China. If a chainbreak occurs USD can theoretically Collapse!

The US is accepting Bitcoin in congress as demonstrated in last Nov. Hearing on virtual Currencies. Treasury Secretary LEW

is asking for a Global conversation on matter as it threatens FED monopoly on US sales transactions.

ATM Reality

The Country most positive in Europe is the UK! Very shortly early February a first European ATM for BITCOIN will be

open in LONDON Centre.

ATM Bitcoin London

Taxing status of Bitcoin in UK will change from tradable voucher into “Private Money” and eliminate heavy profit TAX and with reduced VAT liability. This will boost Bitcoin Industry in UK and serve as example for other Nations still not deciding stance on

this issue.  Germany is also moving same direction as the UK. Treating Bitcoin as a  full Currency totally exempt from VAT is still unlikely as it gives status of a National Currency.

BLOCKCHAIN

Nicolas Cary from Blockchain a big Bitcoin Wallet Exchange is preparing structure for 100milj. users this year!

Lately exists Smartphone apps to follow Bitcoin World as “ZEROBLOCK”

WHY BITCOIN MATTERS

Properties: 1. Low transaction cost,2.Increased Privacy, 3. No erosion of value by INFLATION!  It´s a breakthrough in Computer Science with +20Y reasearch into Cryptograhic Currency  by thousends around the World. BITCOIN is solution to longstanding problem called “Byzantine General problem” meaning a Peer to Peer safe transfer of unique digital property at almost ZERO cost.

Any consumer or Merchant can trade in and out of Bitcoin and other currencies any time they want.. Merchants are attracted to Bitcoin because it eliminate risk of CARD FRAUD! Bitcoin is Pseudonymous not Anonymous. It´s traceable easier to find than lost CASH,GOLD or  DIAMONDS!

THE BITCOIN NETWORK

Consist of four constituencies: 1. Consumer who pay with Bitcoin. 2. Merchant accepting Bitcoin. 3. Miners that run computers processing and validating transactions. 4. Developers and Entrepreneurs building new products (Applications) and services with and on top of BITCOIN. Bitcoin can be a powerfull catalyst to extend the benefits of  a modern Economic system to World population.

FINAL COMMENTS

A final quote from 1999 legendary Economist Milton Friedman ” One thing that´s missing but will soon be developed is a reliable E-Cash  method on Internet you can transfer funds from A to B without A knowing B or reverse!  Today exist  “BITPAY ONLINE payment with Bitcoin. In LONDON soon Europes first ATM “Bitcoin” opened! Trading of Bitcoin allready exists in many platforms as one more Currency in the FOREX arena. ETF´s soon coming . The BITCOIN TRAIN is picking up SPEED!

BITCOIN ALLREADY HAVE CRITICAL MASS!

A new Economic Insight from LENFRED.

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