The Stars Are Finally Starting To Align For Bitcoin!
If we look at the major issues and opportunities surrounding this new technology the stars seem to be all aligning for an exciting two years.
Developing World Joining
Bitcoin‘s adoption in the West may be considered slow considering the advantages it offers. And there is a good reason for this. Most westerners in general do not need Bitcoin. We have a fairly good banking system and we can afford the costs associated with it. We accept the yearly $100-200 bank account fee and an average of 2-5% on incoming and outgoing funds. It sounds crazy but if you add it all up an average person in the USA spends over $1,000 / year on various financial fees and this doesn’t include insurance costs.
1K USD is OK for many in the West, but it is out of question for 80% of the world because many do not make much more than that in total. The benefits of modern banking are huge. Not having to physically move cash is safer and faster which results in efficiencies that make life measurably easier. The developing world could greatly benefit from adopting Bitcoin because crypto currencies can provide most benefits that the traditional financial system can offer and more:
1K USD is OK for many in the West, but it is out of question for 80% of the world because many do not make much more than that in total. The benefits of modern banking are huge. Not having to physically move cash is safer and faster which results in efficiencies that make life measurably easier. The developing world could greatly benefit from adopting Bitcoin because crypto currencies can provide most benefits that the traditional financial system can offer and more:
- Safe And Easily Accessible Storage of Funds on The Go.
- Instantaneous And Safe Transfers At Very Low Fees.
- Unlimited Number of Accounts For Various Uses For No Monthly Fees.
- Easy Recovery of Funds If Primary Device Is Lost or Stolen.
There are however two major problems with Bitcoin that prevent it from being widespread in poor areas. It requires a fairly expensive smart phone and an internet connection. A second-hand Android smart phone that is capable of running a bitcoin wallet still costs at least $100 and the internet connection also requires fairly expensive plans. But the world in changing fast and soon these two factors limiting Bitcoin’s huge adoption will fall. Three things are happening:
First, both Google and Facebook are planning to provide global wireless internet. Google has been working on Project Loon for quite some time. The idea behind Loon is to launch a network of balloons that would beam internet down to base stations that would then provide local free wifi connection for all users in the area. Recently Google also purchased Titan Aerospace which makes solar powered unmanned aerial vehicles capable of staying in the air for years and also capable of beaming internet down to areas without affordable internet connection. These companies are doing this of course to increase their user bases, but the free internet will also provide plenty of bandwidth for the tiny transactional data that Bitcoin requires to send and receive funds. In the next 12-24 months being able to send bitcoins to the middle of nowhere will become a reality.
Developed World’s Extended Adoption
The consistent growth of Bitcoin adoption by those 6 billion who so far haven’t been able to take part in the crypto monetary revolution will encourage Western governments, banks and corporations to take a lead in crypto currencies to maintain their power over the world economy. Several countries already started looking into Bitcoin seriously. Canada’s government last week started an 18 month process to learn and evaluate Bitcoin and other crypto currencies. Once Canada or another developed country comes out with a comprehensive approach towards Bitcoin many other nations will adopt the same basic approach quickly. Many companies and people who are currently unsure about Bitcoin will also join the crypto economy. All these events seem to be playing out within 2 years too.
Currently the biggest systemic threats to the Bitcoin economy are the centralized exchanges and pools. These take away some of the advantages of Bitcoin that are supposed to be completely decentralized and doesn’t require third party trust. Almost every Bitcoin exchange has been compromised in the past. Miners complain about pools not playing fair. Bitcoin users are also uneasy about large pools that can theoretically exert too much power over the network. But all this is changing rapidly and these transitional issues will go away to a large extent. Projects like Bitwasp and P2P Pools are bringing decentralization back to both exchanges and mining pools. These projects are still in the stages, but they will be ready within 1-2 years as well.
Bringing Value Beyond Money
Finally, products and services built on top of Bitcoin or bitcoin’s technology that are more than money are coming soon as well. Colored Coins, MaidSafe, Ethereum, Counterparty, Mastercoin, and others are bringing online and offline businesses into the Bitcoin ecosystem that increase the value of the network tremendously by providing more efficient and cheaper solutions to a wide range of problems for people who do not care about Bitcoin itself. These projects are currently either in Beta or recently launched and in test phase. But in a year or two they will start challenging the biggest players in the industry like Dropbox or even Google. There is a huge momentum in the Bitcoin ecosystem Today. The next 2-5 years will be extremely interesting to watch. It looks like it will be as exciting and transforming as the web was when it started just 17 years ago.
Monty Henry, Owner
Some of Our Latest Articles:
* Bitcoin Via M-Pesa Takes On S. America And Africa (Say Goodbye To Western Union And MoneyGram) Part II:
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Watch your child's caregiver while sitting at a traffic light or lunch meeting, or check on your business security from the other side of the world. Our built-in hidden video features all digital transmissions providing a crystal clear image with zero interference. With the IP receiver stream your video over the internet through your router, and view on either a PC or smart phone. Designed exclusively for DPL-Surveillance-Equipment, these IP hidden wireless cameras come with multiple features to make the user's experience hassle-free.
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* Resolution: 720x480 Pixels
* S/N Ratio: 45 db
* Sensitivity: 11.5V/lux-s @ 550nm
* Video System: NTSC
* White Balance: Auto Tracking
• Video is Recorded Locally To An Installed SD Card (2GB SD Card included)
• Email Notifications (Motion Alerts, Camera Failure, IP Address Change, SD Card Full)
• Live Monitoring, Recording And Event Playback Via Internet
• Back-up SD Storage Up To 32GB (SD Not Included)
• Digital Wireless Transmission (No Camera Interference)
• View LIVE On Your SmartPhone!
Includes:
* Nanny Cameras w/ Remote View
* Wireless IP Receiver
* Remote Control
* A/C Adaptor
* 2GB SD Card
* USB Receiver
FACT SHEET: HIDDEN NANNY-SPY (VIEW VIA THE INTERNET) CAMERAS
Specifications:
Receiver Specs:
* Transmission Range of 500 ft Line Of Sight
* Uses 53 Channels Resulting In No Interference
* 12V Power Consumption
* RCA Output
* Supports up to 32gig SD
Camera Specs:
* 640x480 / 320x240 up to 30fps
* Image Sensor: 1/4" Micron Sensor
* Resolution: 720x480 Pixels
* S/N Ratio: 45 db
* Sensitivity: 11.5V/lux-s @ 550nm
* Video System: NTSC
* White Balance: Auto Tracking
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Note: Simply Choose e-Lay-Away as a "Payment Option" in The Shopping Cart
DPL-Surveillance-Equipment.com
is a world leader in providing surveillance and security products and
services to Government, Law Enforcement, Private Investigators, small
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Phone: (1888) 344-3742 Toll Free USA
Local: (818) 344-3742
Fax (775) 249-9320
Monty@DPL-Surveillance-Equipment.com
Google+ and Gmail
DPLSURVE
DPLSURVE
MSN
Monty@DPL-Surveillance-Equipment.com
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DPLSURVE32
Skype
Montyl32
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Montyi32
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