General Discussion
In reply to the discussion: Bitcoin ATM maker announces plans to expand to U.S. and beyond [View all]TampaAnimusVortex
(785 posts)There is no one at the top for the money to get funneled to. If you don't believe me, just look at the code yourself. It's right there... You can do one Google search for it, go download the code and look at it. It would be like me giving an accounting ledger to an accountant... it's all there in black and white, except you can fake accounting books. It's theoretically impossible to fake bitcoin transactions currently (in general).
And it's not a gamble... Bitcoin will grow. This is what I meant about understanding the technology and it's nature. It uses the same underlying technology as the distributed file sharing Bittorrent sites which share music, movies, and programs - and governments have been trying to kill that for years, unsuccessfully. In the case of Bitcoin, governments are actually embracing it - with a senate panel giving it a rather positive response the tail end of last year.
Don't believe all the hype your reading in the papers and the web. They are out to shock and sell. A good example was Yahoo finance who ignored Bitcoin almost entirely last year and then yesterday when Gox imploded they ran that story front page ALL day! Does that seem fair and balanced to you? Does that tell the real story of all the businesses that were created as infrastructure for Bitcoin and all those that started to accept it? What about those that saved money by using it? No... it doesn't tell the whole story. Lopsided hysteria is all it was. Gox was one exchange out of dozens... it's a good thing they went down as they were the last of the original schlock exchanges. Whats left are the 2nd generation, evolved, regulated exchanges.