all we need is just for a major retailer to jump in the pool. that'll start the singularity of the next phase (whatever it is). most investments would be speculation, but it would at the same time make bitcoin a legitimate world currency.
What's going to happen is that first exporters are going to start insisting on payment in Bitcoin instead of Dollars.Then the retailers will get onboard by necessity.
there is more reason, at least for me, to believe that bitcoin will be accepted by a major retailer.. we're already hearing tons of chatter about ebay/newegg/amazon/tigerdirect accepting BTC.
btw, what is the reason why exporters would want to transact with btc vs.the dollar? my angle with retailers, transactions would cost them significantly less than dealing with paypal/visa or whatever the establishment is. if the retailers could recoup 99% of their revenues vs. 98% (with the status quo 3rd parties).. it would be a huge paradigm shift since retailers make such small margins that 1% would be insane.
Do you think international money transfers and currency conversions are any cheaper than visa transactions?
good point, can't argue with that. i brought the point up to understand more about that position, not to confirm mine.