Bitcoin Update
Long/Short Equity, Special Situations, Contrarian
Seeking Alpha Analyst Since 2012
I just read a blog post on Bitcoin from Felix Salmon which makes a lot of good points. The post points out how big the Bitcoin opportunity is and how disruptive it could be if it is not shut down by showing who is opposed to it. I highly suggest reading it. The most disturbing is this excerpt: "What are the chances of the Fed forcing America's banks to get with the 21st Century? Very slim, I'd say. The banks have been extremely good at squealing very loudly whenever anybody has attempted to implement any new regulation, even regulations designed to safeguard the entire national economy. Improving payments doesn't protect us against systemic risks: it just makes everybody a little bit better off in a million different ways. And as all politicians know, any policy which benefits everybody a little, but which a small number of key players are vehemently opposed to, will never get off the ground."
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