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Bitcoin & Ripple used by everybody?

It’s really difficult for the average person to understand how digital money works if only because it’s unfamiliar. The average person has conquered complex technology before, though, and digital money is getting better. In that case, Bitcoin and Ripple may become household words.

My feeling about Ripple is that it, or something very like it is going to be used for micro-payments for the average person worldwide. It may be that in the near future Bitcoin and Ripple will run in parallel channels, mutually beneficial to one another. Yes, it might be commercialized just like the web was when .com was added at the end of web sites rather than .org. The wealthy may gravitate to one and the rest of civilization gravitate to the other. Commerce has shifted many times in history.

I agree with Charles C. Mann

I’m reading a book titled 1493. It’s about ecological globalization. It tells about how quickly the world globalized after Columbus landed in the Carribean, which led to the Spanish trading with the Chinese in the Philipines from the new route. The book is by Charles C. Mann. He says, “Nothing like this worldwide exchange had existed before…nor had they operated on a scale large enough to disrupt societies on opposite sides of the planet . . . the worldwide network is still viewed w/ unease, even by many of its beneficiaries anti-globalization . . . In the end, though, they lost, each and everyone of them.”

I’m guessing that we are watching a seismic globalization of commerce. Merchants need speed in the money exchange, frictionless transactions. Google and Amazon-like businesses are hungry for territory, the poor are hungry for opportunity. Give them a phone and some Ripple XRP, and watch them acclimate. Today’s commerce is far behind what the market can handle. This won’t be linear; it will be exponential technological change. It won’t be just one technological change. When one change erupts others come along. I think what we are seeing is strong emergent system that ignores borders.

I disagree with Jon Matonis.

“Ripple’s trusted pathways are unlikely to be formed between people who are not already connected socially, he added. “Someone in Japan is not going to care about someone’s reputation in California,” he said. “I see Ripple being used more in localized, regional community environments rather than as a global international application like gold or Bitcoins,”

Does Matonis forget about the students in colleges and Universities the US, and Canada, worldwide for that matter, who have connections in Japan and other places, the student who needs money for an emergency, now, not in 48 hours or not in a week? Does he forget about the refugees from Africa and Egypt, and the immigrants from Mexico who have family who could use their help or vice versa?

Does Matonis forget about our military strewn about the world who have trust relationships? Walk through Union Station in Washington DC, that’s almost what the US population looks like now, it’s international. The average American is a myth. There is a trust network far greater than he imagines. And the trust from that group that will branch out will be exponential. Each family will bring friends of friends of friends.

Could it be that Ripple is going to be larger than Bitcoin, and actually be the unexpected concept that changes the world? This remark on reddit about the average person caught my attention.

We Are the Hosts of the Let’s Talk Bitcoin! Show! We just spent 4 days at Bitcoin2013, Ask Us Anything!

Bitcoin is important for the average person. We just forget who the average person is.

*The average person is a South-East Asian male, aged 22 without any bank account, access to credit or ability to participate easily in the global economy.

The reason Bitcoin fascinates me is that it embodies the possibility of bringing the other 6.5 billion online into the global economy on a level playing field.

Even in the US, 18% or more of the population are “unbanked” – lacking credit, legal status, or access to banking services. In the rest of the world, the unbanked are much higher percentages of the population. Some estimated by the UN and others put them as high as 6-6.5 billion.

Bitcoin can change all that and make it possible for anyone with a cellphone or an Internet kiosk or share computer to acquire the means to transact internationally with very small fees. It changes everything

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NEW RELEASEImage

 

This guy’s book will cost 0.1 Bitcoin or approx. 2700 ripples if you care to convert your hoard to Bitcoin, which is about $11.64 (amirite or amiwrong?) When the book debuts on Amazon June 3, 2013,  it will cost $4.99 on Whisper net. It’s available pre-order on Amazon, only.

If anyone orders this book would you please let me know how easy (difficult) it was to buy the first book w/ Bitcoin.

BIOGRAPHY

CHOOSING YOURSELF by James Altucher, James Altucher is an American hedge fund manager, entrepreneur, and author. He has founded or cofounded over 20 companies, including Reset Inc. and StockPickr. Wikipedia

Found “Choose Yourself” review in a BUSINESS INSIDER story.

ALTUCHER QUOTE

I’ve made money, I’ve lost money. I’ve lost my home/family/friends. I’ve made some of the above back. I’ve gotten really lucky. Several times. With determination I’ll make it stick, and I think you will also.

 

It’s a circus this morning. Opened up my digital wallet, BitCoinSpinner. One Bitcoin’s worth $69.11 at this moment.  It dropped like a rock from $266.00. A new sheriff is in town – Ripple backed by Silicon Valley behemoths announced they were releasing into the wild 50 billion coins in May for those who sign up. A new posse is trading up Bitcoins for Ripples this morning, raking gravy from the nerd-famous, volatile currency for drug lords, libertarians, and those who can’t help themselves. Mt. Gox sounds like a biblical place but it’s the Japan based home for a centralized, math-based, coin exchange. Looks like the Winklevoss twins have saved the day or BitCoin currency I should say. The trade slide has stopped for now, the wounds cauterized. Watching the currencies battle it out is like watching a new sport for the new decade — Bitcoin-ball.

Bitcoin has received its most high-profile endorsement yet as the Winklevoss twins, famous for their legal battle with Facebook, reveal they could be the largest holders of the controversial digital currency – just as the bubble bursts and the price plummets.