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Larry De Palma

Larry De Palma

CEO at TDG-Phenix, Inc.
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First bitcoin ATM set to go live

  The US Dollar might be the most widely used method of payment for drug deals.  That's pretty anonymous as well.  We need to drop that whole 'shtick' because the Bitcoin payment processors are FINCEN compliant.  So "anonymous" in my world means "I'm not keeping abreast of what's happening in the evolution of crypto-currencies".  Bitcoin, if you think about it, might be the great "e-commerce/m-commerce equalizer" in this world.  You cannot use a MasterCard/Visa in Cuba if you're American.  Do I want to carry 200 Quid in my wallet when I can use my iPhone or Android device to "QR code and go". What if Richard Branson finds life on Mars?  Do they want to deal with the overinflated, overprinted US Dollar?  The US Dollar is based on GDP/Debt and other 'economic factors' (i.e., bullsh*t).  The Bitcoin blockchain addresses computational difficulties (think mining in northern California in 1842) to equate value/investment to commodity value.  This is a 'miners wealth' but an eco-friendly 21st century FX facilitator. The market problems right now in the Bitcoin world simply boil down to liquidity.  The exchanges need to be aware of their positions 24x7 as if it were a currency - they are techies, not financial people.  But at least they should be commended to bringing fast-paced innovations to an industry that is dominated by incapacity to lead. I think Bitcoin is brilliant.  Will it replace Visa/MC?  It very well might, considering the amount of security that can be implemented without having to replace POS systems and card readers every Presidential election cycle. Maybe I'm delusional.  Or maybe I'm a prophet.  Or maybe they are one in the same.  Don't write off the most globally potential payment system at this point,. Cheers