Quote:
Originally Posted by Ankesh
Thanks Phil for talking about Bitcoins.
I'm fascinated by its concept. And have been dabbling with it since a couple of months now.
I think it has good potential to become the "currency of the internet."
Its early days for it however - so its extremely volatile.
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I've been watching and researching Bitcoin since early 2010. The biggest issue with Bitcoin right now is the exchanges - getting currency in and out of Bitcoin is a major pain in the a** and involves a very small number of exchanges - you have a centralized exchange system for a decentralized virtual commodity.
The person who created the original Bitcoin exchange (MTGOX), Jed McCaleb (some claim he is Satoshi - the person who thought up Bitcoin), has started up Ripple to address this and other problems regarding Bitcoin. It will have the capability to do all the things Internet marketers need (like subscriptions) - it will essentially be a Paypal system where someone can make a payment in any currency, but will not be beholden to a corporation like Paypal.
I'm hoping it will take off since it's currently the one new crypto idea that makes a decentralized exchange possible.
see
http://www.ripple.com
P.S. - Great idea using Paypal to get people to open emails Glenn.