Economists are up in arms, claiming that bitcoin’s 1000% annual growth is faster than anything they’ve ever seen. Because of that, they lash out, calling bitcoin volatile, a bubble, a pyramid scheme, etc. But don’t worry, we put on our VC glasses, compare the 4.5 year old bicoint to facebook, twitter, google at the same periods in their growth. The result is that Bitcoin’s growth is as exponential, as volatile and as normal as any enormous tech giant.
CNBC covers recent volatility concerns about Bitcoin with the Winklevoss twins this morning.
The twins commented:
The small bull case scenario is a $400 billion market cap. So the market cap is around $4 billion right now
As for what regulators in Washington think about bitcoin, I think everyone recognizes the innovation and doesn’t want to stifle it. They just want to make sure there’s healthy regulations so it’s used in a safe and productive manner.
Video and Full Article: http://www.cnbc.com/id/101190181
My first purchase with Bitcoin! A subway in Allentown accepts Bitcoin so I took the two hour drive to get a sub. My total was $12.35 USD but I paid .04 BTC
Bitcoin makes the main talking point on The Keiser Report this week while Herbert backs up claims made by industry professionals:
Yes, bitcoin. The currency is already creating economic value across Africa, China and the developing world…