[dba-Tech] More on Bitcoin

 Hi Jim --

>>> Like China they fear the competition
Russia(n citizens) do not fear the competition, Russian officials do.

Do you feel the difference? ;)

Thank you.

-- Shamil

Monday, February 10, 2014 12:35 PM -07:00 from Jim Lawrence <accessd at shaw.ca>:
>Hi All:
>
>Russia has now officially banned Bitcoin and all similar currencies. Like China they fear the competition and feel it is a threat to their sovereignty. As a result it took a major hit but just like when China did the same the stock recovered within two weeks.
>
>http://coinmarketcap.com/btc_180.html
>
>Bitcoin may be a currency but is not unlike a stock so its value goes up and down. The US postal service along with Western Union is planning on supporting the product. You would bring money to them, they would purchase and transfer the money in Bitcoins and in two minute, or less, an equal amount of a local tender would be created from the Bitcoin sale and the remote business or individual could quickly be in receipt. In this method there is virtually no overhead or danger of loss.
>
>Bitcoin is no longer a single venture, that mathematical genius, Satoshi Nakamoto created, but now it has been used to create dozens of similar "currencies/stocks":
>
>http://coinmarketcap.com
>
>I have no financial interest in the goings on of the Bitcoin market but I note that there is potentially  hundreds of billions that will be invested, far more revenue than most countries in the world and I wonder if full adoption may seriously under mine all other tenders?
>
>Jim 
>