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July 04, 2013, 09:15:34 PM


Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.

In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.

In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).

Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?

IAS

Completely agree on the killer app. Right now, the only killer app of Bitcoin is Silk Road. It's genius, but more are needed to reach a next level.