Bitcoin Arrives! from Development Capital Groups Blog - Fox29 WFLX TV, West Palm Beach, Florida-

Bitcoin Arrives! from Development Capital Groups Blog

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Development Capital Group‘s blog entry about the arrival of Bitcoins:

Would you buy a share of Berkshire-Hathaway for $1,000? Do you

currently trust moving your money into gold? What if there was a similar

vehicle available to the public that could fuse both financial promises

with a third, yet more compelling promise – to literally change the

world. What then?

There are few watershed moments in human history that have

drastically altered our existence. Johannes Gutenberg’s adaptation of a

technology that had been used in Asia for centuries led to an explosion

of new ideas. The moveable type printing press, it has now been

observed, helped Europeans greatly increase their communication and

spread of ideas. This led to major shifts such as the Protestant

Reformation, in which Martin Luther utilized the power of the printing

press to share his Ninety Five Theses – each challenging the authority

of the Catholic Church over the sale of indulgences.

With a chink in the religious armor of the Church, Europe began to

convulse. Soon political changes began to sweep across Europe and the

monopoly of people’s souls, owned by the Catholic Church for roughly

1,000 years, was challenged. The middle men to God were bypassed and

people began to take control over their own destinies.

Does Bitcoin, a simple digital currency or cyptocurrency, really

expect to deliver on the stuff of epic Biblical proportion? If you are

attending the North American Bitcoin Conference, you may be on board

with such beliefs.

Roger Ver, a venture capitalist who developed his economic acumen

through dealing in used Cisco memory and networking equipment, has

become a prolific Bitcoin startup investor and arguably the movement’s

unofficial spokeperson. He likens Bitcoin to humanity’s greatest

invention since the Internet and cites the cryptocurrency’s ability to

transform human life.

Matthew Roszak, who is a co-founder and vice chairman of Silk Road

Equity and has invested in excess of $1 billion in various ventures,

summed up the potential of Bitcoin best during a panel of venture

capitalists at the North American Bitcoin Conference. Roszak stated, “Bitcoin is freedom.”

Regardless of where you stand on Bitcoin, it cannot be denied that

the current economic global situation is dire and also, like Europe’s

religious situation during the 16th century, in need of reform.

The central bank experiment, which really started to gain traction in

Europe as far back as the time of the Renaissance, has yielded many

mixed results. Some cite the many positives it has delivered to modern

societies as our money supply has become more plentiful to allow for the

growth of new industries and technologies. It has allowed for the use

of capital for risky investment and speculation, leading to advancements

in many phases of life on Earth. Then there are those that have

characterized the central banking system as a shackle to control

humanity by setting the value of currencies while also creating rapid

inflation the likes of which the Weimar Republic of Germany still serve

as a cautionary tale. Furthermore, some plead for the dissolution of a

government’s ability to simply print money at will, which not only leads

to inflation, but allows for more sinister activities such as funding

wars and other horrific measures that destroy lives on the planet.

Such is the philosophy behind the creation of Bitcoin. It boasts to

be a decentralized currency that is going to have a limited run and be

available to people for creating direct transactions between one

another. It eliminates the need for a middle man and offers low to no

fees.

The currency’s value, however, has been mostly speculative. Since its inception in 2009, the value of Bitcoin has had dramatic rises with some serious retracements.

Some of that speculation seems to have dampened when China made the

decision to ban Bitcoin from its banking system. Yet China doesn’t seem

to be able to pick winners in the tech industry as they also banned

Facebook which only continues to see growth.

The US, however, could prove vital to Bitcoin‘s

future. Officials in the US are looking into what kinds of regulations

need to be considered. New York is scheduled to have a public hearing on

virtual currencies on January 28th and 29th which will do a lot to

determine the future of Bitcoin and other virtual currencies in the US

market.

One message resounded clearly from the North American Bitcoin

Conference and that is, virtual currencies, whether it be Bitcoin,

Dogecoin, or Litecoin, are here to stay and are not going anywhere. The

need is there and the transformative nature of the technology is much

needed to help with economic reform. Various venture capitalists

and other investors have stated they intend to target the platform of

digital currencies in regards to potential startups. David Aylor, an

attorney from South Carolina, has a client who is alleged to be involved

in the first seizure of Bitcoins by the US government. Aylor offered

some legal perspective in pointing out that although many websites offer

the sale of illegal goods and/or services, they serve as tools to be

used by the community. Digital currencies, much like traditional

currencies, can be used for good or ill and should be considered tools

as well.

So it is with digital currencies. Many will cite the potential for

transforming society, others will point to their filling a potential

need for economic reform. There are many companies and startups

that are forming now with the potential to grow the industry and meet

the needs of its future customers. Whether or not backing its

transformative nature proves to be hyperbolic or predictive, there is no

doubt that the digital currency industry is here to stay and is poised

for tremendous growth potential.

Read the original article about Bitcoin here.

Source: http://www.accesswire.com/viewarticle.aspx?id=411583

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