23 Apr '13, 2am

BitCoin, Or BetaCoin? What The Venture Capitalists Are Thinking

VCs look for three things when making an investment: a huge (usually +$1 billion) market size, a disruptive technology, and lots of ways to play those two features. Those thousands of tech-savvy folks who run the bitcoin system have created a new and very low cost method for transferring money around the world. For the potential 25 bitcoin reward of solving one of those 10 minute puzzles, they keep track of all the transactions created by users around the world. The current system for money transfers – banks, brokers and other financial institutions – want a lot more for their efforts than a few thousand dollars six times an hour. Bitcoin is to money what Amazon is to retail or Netflix is to video content – a much more efficient way to meet the needs of millions of people around the world. There are three major vectors for investment: exchanges, service offerings for indiv...

Full article: http://www.zerohedge.com/news/2013-04-22/bitcoin-or-betac...

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