29 Mar '14, 4pm

Why Wall Street Doesn't Get Bitcoin

Wall street has released another diligent but annoying research report on bitcoin. UBS joined Goldman, Citibank and the line of smart investors telling you that bitcoin works as a money-transfer tool but as a currency it is flawed, that the government will “ban” it, that widespread adoption is unlikely, etc., etc.. They’re wrong. Wall Street sees bitcoin as just a money transfer mechanism — a better Western Union — because it’s the one near-term use case they can grasp. Indeed, it’s not Wall Street’s job – or their skill set – to speculate on technology revolutions. It’s their job to take snapshots as they happen and invest in their wake. So their focus on bitcoin 2014 as a transfer mechanism for fiat currencies is correct but myopic. On the other hand, Venture capitalists’ job is to understand the future invest toward it. Can you name a single top tier VC firm that has no...

Full article: http://unifiedstrings.com/why-wall-street-doesnt-get-bitc...

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