26 Nov '12, 6pm

What's Balanced's Bitcoin strategy?

This article is just, plain, silly. The author criticizes Balanced because they don't support Bitcoin? Yea, so, here's the deal -- startups need to make money, not chase down ideological, academic experiments like Bitcoin.As a customer, I can attest that Balanced provides a really, really valuable service to anyone building a marketplace. If you need to support money in via credit cards and money out via ACH, no other solution like it exists. It's fantastic. Bitcoin is an investment, not a currency. Buying bitcoin is not much different than buying gold. It serves exactly none of the properties of a currency: It's not a good medium of exchange, store of value, or the other derivatives thereof. Moreover, it's a rogue currency, not supported by any government. In fact, it is decentralized by design. This is great in theory -- decentralization can be great in company structure...

Full article: http://news.ycombinator.com/item?id=4832780

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