Quote:
Originally Posted by mayabong
I agree the weak spot of bitcoin is the exchanges which is where the rubber meets the road.
When bitcoin becomes more widespread people wont need to depend on exchanges as much and can just do transactions locally with cash. I have someone in my town that will buy bitcoins from me if I chose to sell ect. http://localbitcoins.com |
It was the same for internet gambling, eventually the banks are the weak spot.
I wonder what even the discussion of an anti bitcoins banking law would do to people's confidence?
Seems to me that just the rumor of this would be enough to cause a run to cash out, once might be survivable but multiple times would erode confidence.
I see such an action by some government as very probable.