Tech startups will make Bitcoin available to purchase over the counter at over 1200 news agencies in Australia. http://www.afr.com/technology/bitco...nter-at-a-newsagency-near-you-20160526-gp52ka
Their business venture may get shut down pretty quick unfortunately... unfortunately upcoming legislation may add Bitcoin to the list of designated services that may need to register with AUSTRAC. They may need to go the way of CoinJar - and move oversees. Sad that innovative Australian fintech businesses often find themselves debanked and unloved.
Good luck to them. <-- Yes For most people Bitcoin is still an obscure impracticality. <-- Yes It offers no real advantage over fiat currency. <-- BTC offers huge advantages over cash (e.g. the ability to transfer value over large geographic distances instantly) It can be expensive to transact with and difficult to spend. <-- It can be cheap to transact and easy to spend It exposes them to risks they probably don't understand. <-- It can offer people opportunities that were inaccessible before It will be fighting an uphill battle against regulation. <-- Yes. I think the technology which drives Bitcoin is amazing <-- Yes ...but it's a long way from any kind of mainstream adoption (if it ever gets there). <-- Maybe. With each new currency crisis, there are more opportunities for BTC to rise up. E.g. Cyprus a few years ago - maybe Argentina and Venezuela soon.
1. I agree although I believe there has been a shift in peoples thinking about Bitcoin, IMO we are well and truly passed Silk Road/Drug Dealers way of thinking still a ways to go although we have turned the corner. 2. Have to disagree with this point at best it takes 2-3 days for fiat to move from one account to the next, Bitcoin almost instant across any border/country with minimal friction, even if the banking system utilities blockchain technology to speed up this process this doesn't assist the some 2-3 Billion unbanked that bitcoin can provide with a means to transact. 3. Also disagree with this point transaction fees for Bitcoin are in the cents not dollars, more and more services like Bitcoin Debit/Eftpos cards are making the use of Bitcoin easier and easier, and the uptake from businesses allowing payment in Bitcoin is ever increasing also. Although if taking currency fluctuations into account this is still somewhat of a concern although I feel eventually there will be no need to convert in a out of bitcoin to fiat as people will simply transact in bitcoin. 4. There are risks in any investment no risk no reward, IMO the days of Gox ect running off with peoples Bitcoins are behind us as there is now to much money and reputation involved with major exchanges wallet providers ect to allow this to happen. I believe in the near future additional services will be provided to enable people to invest in Bitcoin such as Bitshares, EFT, Bitcoin Brokers ect. Also the number of hardware devices available now such as Trezor that allow people to safely store and physically hold on their person is also increasing. 5. The cats already out of the bag whether it's Bitcoin or Tittycoin the use of decentralised currencies is here to stay, I don't think it is a concern for Bitcoin to keep up with regulation rather regulation struggling to keep up with Bitcoin/Digital Currencies.
Fair points Bullion Baron and that's where I hope to assist those that have no idea about Bitcoin although want some exposure to it, to do so without having to deal with the technical issues associated with it in a safe, personal, private, and economical manner. COMING SOON
"After the bail-in was announced people ended up rushing to their bank accounts to withdraw funds and a lot ended up putting the money into bitcoin, where governments could not touch it. "Bitcoins were growing slowly until Cyprus. Cyprus was the catalyst for the big increase in the price," he said. "The price started trading at about $40 and then doubled within a couple of days," he said. Because of Cyprus, prices pushed towards $200, but dropped to about $60 after the banking crisis abated..." http://www.forbes.com/sites/kitconews/2013/12/10/2013-year-of-the-bitcoin/#42bc04682295
Doesn't matter if the Cypriots used BTC or not - their currency crisis served as a catalyst for increased Bitcoin adoption. University in Cyprus Receives First Tuition Payment in Bitcoin http://www.coindesk.com/cyprus-university-bitcoin-payment/ Bank-like Bitcoin Portal Neo Opens First Branch in Cyprus http://www.coindesk.com/bank-like-bitcoin-portal-neo-opens-first-branch-cyprus/
