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re: Bitcoin buzz stays high --- even after bubble
Posted on 5/13/13 at 10:06 am to gizmoflak
Posted on 5/13/13 at 10:06 am to gizmoflak
quote:
In the infancy of bitcoin (which we are still in), the exchanges are essential. Competition for MtGox will only enhance the bitcoin universe and make it more accessible to more people. At some point, the bitcoin universe could be large enough that it is self-supporting, and the ability to exchange fiat currency for bitcoin won't be nearly as important or necessary as it is now
There comes a time in a prudent entrepreneurs life where he sees the opportunity to part a fool and his money. This is one of those times. They don't care about the currency. They care about the fee revenue for conversion. And they want that fee in USD. Book it.
2
Posted on 5/13/13 at 10:11 am to Broke
quote:
There comes a time in a prudent entrepreneurs life where he sees the opportunity to part a fool and his money. This is one of those times. They don't care about the currency. They care about the fee revenue for conversion. And they want that fee in USD. Book it.
And someday, they will gladly accept and keep their revenue in BTCs
Posted on 5/13/13 at 10:13 am to Broke
quote:
They don't care about the currency. They care about the fee revenue for conversion. And they want that fee in USD. Book it.
It's essentially like the managed funds industry, except without the hassle of SEC regulation (for now) or the fiduciary responsibility of the fund managers to their customers.
Seems like a fantastic scam.
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