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Bitcoin Influence&Growth - Max Wright Interview


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Two Top Stocks: http://www.FutureMoneyTrends.com/InvestVisit&Share Our BLOG: http://FMTBlog.comMax Wright wrote Bitcoin Revolution. http://SuccessCouncil.comVISIT US: http://FMTBlog.comTranscript:FutureMoneyTrends.com: Greetings and thank you for joining us at futuremoneytrends.com. I'm here to discuss Bitcoin with Max Wright. He wrote a book called "Bitcoin Revolution." Thank you so much sir.Max Wright: Thank you for having me.FutureMoneyTrends.com: Alright, so let's get on with it. Bitcoin. A lot of people, it's a controversial issue for a lot of people, because it's a new idea. And of course we had those violent swings over the last few weeks, or months now, but it's actually been positive you know, to early on, or even last year this time. A lot of people are fearful that the government's going to attack it. What makes you not fearful that the government isn't just going to pump 500 million into it and hit the bid all the way down?Max Wright: So, to hit the bid all the way down. The only way you can manipulate the price of Bitcoin is to buy it and then sell it. There is no derivatives market, there is no secondary market with Bitcoin as of yet. So it's a very, very pure market. So you could cause a crash, I guess, by buying lots and dumping, and you can manipulate it that way. But in the buying of it you would send the price up as much as you do before you bring the price down. So that's on that. With the regards to resisting government violence, I think Bitcoin is really, really unique. To me it's the most unique currency in all of history. It's never happened before. So in the analogy that Bitcoin advocates use is in regards to Napster. We all know Napster is a great file sharing tool, but it was run out of a central server and a company. There was a CEO to harass and a company to harass, and the government can send in men with guns and force them to unplug the server. Service is over. And I am a big gold bug, I own lots of gold and silver. It's a cornerstone of my portfolio, but I'm aware of the fact that gold and silver and other precious metals are susceptible to violence. And we've seen that with e-gold being shut down we've seen that with goldmoney.com offering a great service where people can transact gold electronically, which, that could make gold and silver the currency of the future in a globalized world, but for the fact that it's so easily susceptible to violence. Government sends in guys with guns to destroy those businesses, or at least harass them enough to turn of those features. Bitcoin, in the same way Bittorrent solved the same problem for Napster, it was decentralized and there was no one to harass. You would have to put a police man in every bedroom in every house in the country or on the planet to bring down Bittorrent. So too with Bitcoin. There is no one to harass, there is no CEO. It is a distributed peer to peer network that authorizes and guarantees the sanctity of the network. And so for that reason it is incredibly resilient to violence, and I find it incredibly interesting that at a time when we're going to -- my expectation is that we're going to go through a currency crisis and currency wars that we've never seen before. There's that something that has sprung forward in the free market world which is a currency resistant to violence, and to me that's very exciting.FutureMoneyTrends.com:The most important thing for a currency is that it's a medium for exchange. Are we seeing that aspect or that role grow for Bitcoin?Max Wright: Absolutely. So that's a real interesting thing with regards to the uptake of Bitcoin. It's going to follow that very smooth s-curve. You know, there's the pioneers, and then the early adopters, then the masses and the laggers, and that's a very smooth curve, and we're witnessing that happen. More and more people are using Bitcoin every single day. We're still in the very, very early stages of that now. What we're seeing on the price side is very different. That's going to be extremely volatile and I'm expecting it to stay very volatile. And the reason for that is, let's see, when digital cameras, that revolution took five to ten years to replace all film cameras. When that revolution took place, there was no opportunity for greed or to make tremendous money for the consumer. You didn't go, "oh, this is the greatest technology ever. I'm going to buy 20 digital cameras and I'm going to borrow money that I don't have off people just to get some more 'cause it's going up so fast." And then at the first sign of a turn down you soil your pants and then you throw all your 20 digital cameras out the window. That doesn't happen with those kinds of digital revolutions and technology revolutions, but with Bitcoin you have that. The value of Bitcoin is how often you can

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