Early bitcoin adopters now turning their backs on bitcoin itself

[universal4]

But most admit the technology of the blockchain and it's underlying technology is good.

Source article here
http://www.businessinsider.com/circl...option-2015-11

Circle, BitPay, and Bitreserve — who between them have raised over $130 million — have all shifted away from bitcoin

I found it interesting that even Bitreserve which started out as strictly a bitcoin exchange is "disowning" bitcoin.

As I assumed for the very beginning, banks and other financial institutions are interested in blockchain technology, and improving on that, and finding a way to use it to further reduce their own overheads as well as finding ways to make their transactions with each other as well as consumers safer.

We may or may not see the day when "crypto-currencies" such as bitcoin, as they exist today go away, but the financial institutions may use the underlying technology to help manage the financial transactions of tomorrow.

Rick
Universal4

[Herki]

By dropping "bitcoin" these companies open up themselves up to much wider funding and buy-out potential. Right now of all the crypto-currencies bitcoin has the liquidity, it will only be disrupted if another currency could et a great share of liquidity.

I completely agree, blockchain technology will be huge for the financial industry but also other industries like property ownership.

Interestingly for the gambling industry I like that you can see how much money a bitcoin casino has on the books in liquidity / segregated player accounts. Something you can't see with fiat casinos.

[universal4]

I see that as a flaw.

If a company is not public, their financials should not be public either.

How many private company owners really want their competetors to see their financials?

Rick
Universal4

[TheGooner]

I'm not a fan of coins - I don't see the value - but as long as even a small portion of the population do there will be some sort of market for it.

However, whether it's a viable or valuable market for business is another question ..

This quote from the story was key for me :

BitPay CEO Stephen Pair told me back in June: "We keep adding merchants — we're up to over 60,000 now — but they're selling to the same pool of Bitcoin early adopters."

Despite recent spikes in price, using bitcoin to actually pay for things — and even just holding it as a speculative asset — remains a relatively niche activity.

[casinobitcoin]

I'll tell you what, we have been relatively early adopters and see tremendous opportunity for Bitcoin Gaming in the next 5-10 years. Cutting out payment processing fees, fraud, and allowing the player to get paid instantly is just a gigantic game changer for the industry.

The price of Bitcoin itself... high volatile, and will be for years as the liquidity in the marketplace is relatively very small (only takes a few million USD to swing the price $15-$30). But I believe that will change...

[Herki]

I'm not a fan of coins - I don't see the value - but as long as even a small portion of the population do there will be some sort of market for it.

I'm going to pick up on that quote, I'm making very good money promoting bitcoin casinos. It's definitely a niche, but one that converts very well with high player values.

[casinobitcoin]

I'm going to pick up on that quote, I'm making very good money promoting bitcoin casinos. It's definitely a niche, but one that converts very well with high player values.

Cheers! PM me with the site, I won't shill out site in this thread!