- Sep 1, 2017
Maybe this new surge of revolt will finally initiate rise of some viable alternatives. I think that using of bitcoin is not so complicated and soon it will be a norm in payment just as now is Paypal. Bitbacker looks interesting.
For example, in the stock market, some people used to buy a bunch of stocks cheap, then promote the heck out of those stocks, recommending that other people buy them. This causes the value of the stock to shoot up, which causes more people to buy, which causes it to go up more. Then that same person would sell out all their stock high, causing the stock to drop, leading to the stock plummeting back down to where it should be. However, in the process anyone who didn't get out fast enough would be screwed over. This is known as " ", and is totally illegal now in stocks, but there's little stopping you from doing that within the bitcoin market, where you "pump and dump" a certain type of bitcoin.
I agree with your first point that this gap in the market will breed competitors willing to fill that gap, we're already seeing that a bit, but so far (IMHO) it looks like bitcoin stuff is going to remain a bit of a niche market as long as it remains unregulated.