American - Businessman | -
In the longterm for Bitcoin, Gox needed to go away.
Erik Voorhees
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The Dwolla incident was to be expected. The government will go after sites that it thinks are supposed to register as money transmitters. Some Bitcoin companies will register as such, and some won't, but business will carry on regardless.
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Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.
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The big exchanges that hold customer deposits are a big target for hackers, and unfortunately, most bitcoin exchanges store user funds.
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Most 'digital currencies' are not really digital currencies at all.
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Credits in your PayPal account are really just USD-backed - they are not a unique currency themselves. Other 'digital currencies,' such as Facebook Credits, can be created out of nothing and without limit, so they are not serious money.
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I'm much more confident with crypto than with banks or fiat currency because I can actually control it, and the money supply is transparent, stated up front. It makes online shopping a lot easier and a lot safer.
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Mt. Gox was a teachable moment for everyone in the Bitcoin community, and ShapeShift has innovated these problems out of the picture.
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I was very excited about a currency that was not controlled by a central government, that could be a free market currency. That was all the incentive I needed to dedicate my life to it.
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Bitcoin is open-source, global, and requires no permission from anybody, so thousands of entrepreneurs are gravitating in and building their vision.
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The number of industries, communities, habits, traditions, and even interpersonal interactions that Bitcoin has the potential to revolutionize is massive.
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The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out what that value is and how likely it is to manifest.
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