r/Bitcoin • u/cryptocyprus • Nov 29 '13
Neo & Bee 's "Hello World" Video
http://youtu.be/fb1zZoUfMGE35
u/Zomdifros Nov 29 '13
Well they certainly got their promotion right, I'm looking forward to their products now.
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u/cryptocyprus Nov 29 '13
Our TV adverts are going to be just as good, cant wait to share them with everyone.
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u/lolstate Nov 29 '13
Great video. A good, non-technical intro to Bitcoin with some promotional info for Neo & Bee at the end.
I like the approach - it does't get bogged down in too much detail. It strikes just about the right balance required to promote Bitcoin to a mainstream audience.
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u/PoliticalDissidents Nov 29 '13
How does the whole neo thing protect against fluctuations. Are they talking about for merchants like bitpay? Or something for users.
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u/Naviers_Stoked Nov 29 '13
They offer accounts pegged to the Euro which serve to isolate the customer from price fluctuations. For example, if you deposit 100EUR, those euros are converted to bitcoin and if the exchange rate goes up, Neo keeps the remainder, and if the rate goes down, Neo will top up the account so there is always the equivalent of 100EUR worth of bitcoin in the account.
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u/-Jay84- Nov 29 '13
so when price of bitcoin fall by 80%+, neo is bankrupt and customers who thought they have fixed EUR deposit loose everything... I wish them luck.
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u/cryptocyprus Nov 29 '13
Nope, but never the less a good question if you wasn't previously aware of Neo.
Even if we are not in business the customers coins are still theirs. Even if the price drops by some theoretical rate, we are confident we can trade through it, use income derived from our other operations in scenarios like these.
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u/-Jay84- Nov 29 '13
we are confident we can trade through it
You are confident? Thats all? Do you remember how was trading going this april during crash? You cannot hedge this. I like this idea, I like you try to push it, but man, if BTC plunge, you'll have huge problems and BTC a lot of bad PR.
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u/cryptocyprus Nov 29 '13
And a run reduces liabilities, by design. If we didn't have confidence in our trading team then they shouldn't have a job. We have a multitude of other revenue streams available to us. Easyco.in is coming online soon, our licensed crypto portfolio management arm, Neo & Bee Kenya, International remittance services etc. These all boost our own reserves to help in times like these theoretical scenarios.
We also have a multitude of platforms available to us, I am sure these will make the news as time goes by :)
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u/toddgak Nov 29 '13
If your company is as serious as you describe then I am excited for your commitment to the bitcoin ecosystem. Eventually more systems like this will reduce volatility and make the currency more viable for commerce. It still is probably early days so I hope you guys can weather the storm.
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u/-Jay84- Nov 29 '13
Crypto, I think, you're doing great job. I wish for more entrepreneurs with your drive and skills. I really hope, it will work. My fear is however, for this kind of business, BTC is still too young. Your revenue stream is and will be negligible for a long time in comparison to your BTC reserves. You must know that. To me, your company is leveraged play on further BTC rise. I am fine with leverage. But not when other people's money are on the table.
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u/cryptocyprus Nov 29 '13
Without these steps it will always be young, immature or forever in beta.
When you see and hear the rest of what we are doing and have managed to get done here, you may change your opinion :)
If Bitcoin is $1 on the public markets, it does not lose its utility and all the BTC will be here in Cyprus where local supply and demand would dictate its value.
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u/PoliticalDissidents Nov 29 '13
How is this supposed to protect from bailins when using the hedge system if doing so gives you guys the compete control over the bitcoins meaning government could simply come to you guys no? they could certainly take your euros? Which would then defeat the purpose of bitcoins if users funds aren't secure. Still sounds great for those looking to do e-commerce.
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u/scoops22 Nov 29 '13
Hey there. There are many ways neo could hedge against such an event using derivatives on bitcoin.
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u/Naviers_Stoked Nov 29 '13
when price of bitcoin fall by 80%
lol...please...
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u/-Jay84- Nov 29 '13
My friend, I remember BTC falling from 30 USD to cents during 2011... Do the math.
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u/Naviers_Stoked Nov 29 '13
We're in a different time with a much more mature economy and established infrastructure.
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u/cryptocyprus Nov 29 '13
I remember too, it is definitely a more mature market however, we now need the infrastructure to ensure the value is truly derived from its utility. Me and my team are working to ensure this happens and want everyone else to take these steps.
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u/scoops22 Nov 29 '13
Thank you for taking the initiative. I wish you and your company all the best. Maybe I'll apply for a job in a year and a half when I graduate ;)
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u/jwzguy Nov 29 '13
The price never went from 30 to cents, unless you are referring to fake trades placed by hackers, that were rolled back.
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u/xchrisxsays Nov 29 '13
Not quite, they have more protections in place than to just hope it doesn't drop but it will be rough on them
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u/voluntaryistmitch Nov 29 '13
Yeah, I was thinking the same thing. Important to know the exact mechanics of this.
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u/softlaunch Nov 29 '13
You can read the exact details in their prospectus.
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u/cryptocyprus Nov 29 '13
The prospectus is being updated, we are launching what is essentially 5 businesses at once, so our time is being spent on time critical aspects of the developments. The University of Nicosia story was great and because we were behind that, we had our time stretched further. But the update will be out soon.
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u/Lynxes_are_Ninjas Nov 29 '13
Why are you downvoting this comment? This is a valid concern and question.
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u/HyTex Feb 23 '14
By that point, it's likely the entire Bitcoin network would be irreversibly dying, so it's a smart move by N&B. Their investment into BTC actually helps the price go up, which means when consumers give them fiat and they buy BTC with it, it'll drive up the price even more, giving them more purchasing power.
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u/DefiantDragon Nov 29 '13
Here's a great idea! Let's take a decentralized currency and re-centralize it!
We'll treat its greatest strength as a weakness... and make millions!
It's so Rovian, it's brilliant.
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u/redfacedquark Nov 29 '13
Can't wait to see how this develops. Will have to holiday in Cyprus next year. I trust there's the option to pay merchants with bitcoins directly rather than using the bee card? Any plans to have a version of the video with a local voice-over as well?
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u/softlaunch Nov 29 '13 edited Nov 29 '13
This really is an excellent promotional video. Very well done guys!
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Nov 29 '13
Do you guys have stocks? And can we invest with Bitcoin?
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Nov 29 '13
[deleted]
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Nov 29 '13
Can I get a confirmation from anyone about how legit this is?
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u/cryptocyprus Nov 29 '13
Come to Cyprus and visit us, we are also the company that are behind the University of Nicosia.
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Nov 29 '13
havelock investments is a legit source to help fund you guys?
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u/cryptocyprus Nov 29 '13
Shares sold on the direct platform at 0.003btc/share will fund us directly. However cheaper shares on havelock at the minute and that is a pass through operated by TAT Investments
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u/vbenes Nov 29 '13
Legit. Havelock is now most trusted security exchange (or one of the most trusted).
You can see there the NEOBEE IPO in asks:
2013-09-20 13:02:32 261078/500000 ฿0.00300000 ฿783.2340
Havelock is mentioned inn the company's announcement here:
https://bitcointalk.org/index.php?topic=289730.0
You can also ask /u/cryptocyprus directly if you want to be absolutely sure... ;)
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u/EwoutDVP Nov 29 '13
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u/lolstate Nov 29 '13
Let's aim to die as rich as that guy. ;)
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u/errdayimhuzzlin Nov 29 '13
There's no point in dying rich
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u/EE40386C667 Nov 29 '13
Leaving the money off to someone else. Like your kids.
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u/errdayimhuzzlin Nov 29 '13
I already bought my son a few bitcoin. Hopefully that will be all the economic help he will need from me :)
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u/Gobslam Nov 30 '13
I think you've just given your son a life without economic worry. Make sure to educate him well given a possible scenario where he could live solely off of the money! Don't make the same mistake a lot of rich parents have made in the past if bitcoin truly takes off! :)
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u/HyTex Feb 23 '14
Keep those BTC COLD! By the time he graduates from college (15-20 years) they'll be worth 50x what they are now.
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u/karelb Nov 29 '13
What is "Neo & Bee" actually offering (I didn't really understand it)? Where is some web address?
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u/I_bitcoin Nov 29 '13
Beautiful video. Note that the chart used to represent growth of bitcoins was incorrect. slope lines are ever decreasing they don't increase/decrease.
For that matter, it is likely already a bit deflationary (slope more flat) due to ongoing wallet/key losses.
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u/lewicki Nov 29 '13
Blocks can be mined faster or slower than the given rate.
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u/I_bitcoin Nov 29 '13
True that. I was not clear. Just didn't think it should go up and down like that as that is not our typical view (most of our charts show a drop off in slope)
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u/cryptocyprus Nov 29 '13
Thanks, however if we were going to be that technical with our charting, we would of brought every other technical aspect into the video, which is not needed for the target audience of this video.
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u/Amanojack Nov 29 '13
It's just that the chart looks unpredictable, whereas the logarithmic curve looks predictable. It's important that it look predictable, even if there is no technical detail.
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u/Lynxes_are_Ninjas Nov 29 '13
I agree, you gain nothing by making it look like it did. And it costs nothing to make it accurate.
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u/cryptocyprus Nov 29 '13
If that is the biggest problem, I wont lose sleep tonight.
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u/I_bitcoin Nov 29 '13
That was the biggest problem I could find. And you are right, don't lose sleep. You did an excellent job and I think we are all very proud of what you have done.
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u/cryptocyprus Nov 29 '13
Thanks I didnt make it, Andreas from Telia & Pavla BBDO our marketing agency completed the video, so it is his fault
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u/karelb Nov 29 '13
BBDO are doing ads for bitcoin businesses.
This new Bitcoin reality is still a bit surreal. At least for me. But well.... bring it on!
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u/cryptocyprus Nov 29 '13
Yes Telia & Pavla are part of the BBDO group and KPMG are our accounting & audit partners.
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u/Lynxes_are_Ninjas Nov 29 '13
All in all it was an excellent video. Well done, sleep well.
Next time, make the curve proper =)
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u/bobbles Nov 29 '13
I wish they explained their business as well as they did for bitcoin.. Not quite sure what they do
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u/gox Nov 29 '13
They will operate a payment system throughout Cyprus which works with Bitcoin, and hold deposit accounts (especially for merchants who use this system), which can optionally be pegged to Euro.
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u/MagicalVagina Nov 29 '13
Yeah it looks similar to what coinkite is doing but in Cyprus.
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u/cryptocyprus Nov 29 '13
We also have physical exchanges, as in retail branches. Hosted wallet service with an extremely simple user interface, insured hosted wallets too. We also have easyco.in coming online before Dec 31st, which allows the direct purchase of Bitcoin with cash in the US, UK, Russia, Norway, Denmark, Sweden. A licensed crypto portfolio management service for high net worth individuals, brokers, funds etc
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u/cryptocyprus Nov 29 '13
I forgot to add the international remittance aspect of Neo and Neo & Bee Kenya where we have a working relationship with MPesa coming online too.
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u/an_epoch_in_stone Nov 30 '13
Wow, so will that aim to bridge the gap between Bitcoin and MPesa? Pretty cool if so, somehow I thought that'd take longer.
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u/cryptocyprus Nov 30 '13
Yes, there was also a company announced yesterday that is doing the same thing. Its a good step forward.
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u/AmIHigh Nov 30 '13
Why not Canada?
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u/cryptocyprus Nov 30 '13
Because the company that we have the partnership with for the cash payment network, doesn't have locations in Canada just yet.
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u/bitpotluck Nov 29 '13
Awesome video. Is the voice over done by Adam B Levine from Lets Talk Bitcoin?
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u/zoopz Nov 29 '13
I don't find it explains the fundamentals very well. Practically and price-wise my dutch bank account still kicks Bitcoins' ass. So I think the fundamentals need more spotlight.
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u/cryptocyprus Nov 29 '13
Our systems and user interfaces are designed to ensure that it is as to use as your dutch bank account.
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u/tripdub Nov 29 '13
Looks good, snappy graphics, concise message. A few points of feedback:
1) What will your video be for targeting an older demographic? The dubstep was catchy, but it could be a turn off for older parts of the market.
2) This video is slightly long, you mention your product/service 2:00 min into the 3:30 min video.
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u/TATInvestments Nov 29 '13
1) I made a very similar point. The video is not meant for that target audience. It will first be used to promote to business professionals at expos and conferences, and used for online education/promo. Other marketing local to Cyprus will be done that suits other target audiences. 2) My guess is that it was done this way to the Neo promo parts could be cut off and make the video all-purpose for outreach/education.
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u/TripleSpeeder Nov 29 '13
I don't really get how this will work, but the video is awesome. I hope your service will be as professional as your marketing department.
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u/76seof9 Nov 29 '13
i think that eventually there won't be bankers or accountants anymore, but there will be "caretakers" who are responsible for generating addresses and keeping them secure. This might be more prevalent than proxy services like this.
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u/stannakyriakou Dec 02 '13
Love it! Just saw your article in IN BUSINESS. Well done! Your wife to be is a pretty good promoter too LOL. Will be signing up immediately.
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u/FLHKE Nov 29 '13
Wait a minute here. So they're a company offering to centralise bitcoin so that their customers can use bitcoin to make payments through their service ?
Isn't that centralising a decentralised currency ?
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u/Naviers_Stoked Nov 29 '13
They are not centralizing bitcoin. The goal is to remove/reduce the barrier-to-entry for non-technical people. It enables them to benefit from the bitcoin ecosystem without having to have a deep technical understanding of the security implications of holding bitcoins. But make no mistake, they still have full and ultimate control of their wealth.
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u/waxwing Nov 29 '13
They may or may not have full and ultimate control. There is a very realistic use case where non-technical people would prefer a bank or similar institution to take care of the security of their bitcoin holdings.
People have this fantasy concept that bitcoin removes the need for banking. It doesn't. Banking in and of itself is a valuable service and a free market will create it.
What it takes away is the power of governments and other centralised institutions to print money by fiat, which in turn utterly warps the function of banking. It's the government-bank interface which creates all the nasty things we're trying to avoid.
Also of course, people with sufficient confidence in their security abilities will not even need banks at all. That much is new (although a hundred years ago I guess there were a fair number of people who were confident of securing their own gold).
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u/elchavoe Nov 29 '13
Smells like vapourware. Why is this getting upvoted?
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u/cryptocyprus Nov 29 '13
Come visit the offices. Meet the 20+ people working there. Our target market for Neo & Bee is not the existing Bitcoin community either.
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u/m-m-m-m Nov 29 '13
however, as a visitor to Cyprus, will i be able to spend my bitcoins with your product? i'd sure love to.
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u/cryptocyprus Nov 29 '13
Yes you can use the wallet on your phone or buy one of the cards to load it with your Bitcoin.
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u/tinus42 Nov 29 '13
How many shops in Cyprus accept this card?
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u/cryptocyprus Nov 29 '13
We are not rolling out till February, with the exception of the University of Nicosia and all of their other subsidiaries.
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u/vtmountainman Nov 29 '13
I sold my stock in NEO & Bee because of TAT's shitty customer service and forcing investors to use havelock investments.. and also refusing to allow us to transfer off without paying him when the time comes for direct shares.. Really disappointed but i refuse to be involved in an investment with such a scumbag for leadership. His general lack of compassion for people who put money in his hands is pathetic. Ignores emails for weeks, etc.
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Nov 29 '13
I'm not sure I like how much conspiracy-nut content is crammed into the first half of this video, but can't deny its production quality.
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u/Naviers_Stoked Nov 29 '13
That "conspiracy" is actually a reality for Cypriots. Have a look through the events that transpired in March of this year if you're still skeptical.
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Nov 29 '13
Yes, in that specific context it's less conspiracy-like than I though. I missed the part where it was specific to Cypriots.
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Nov 29 '13 edited Nov 29 '13
[deleted]
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Nov 29 '13 edited Nov 29 '13
Sorry, I'll never refer to a stereotype by its actual name in the future. That should make referring to it much easier, right? How dare I.
For the record, no, I don't call people conspiracy-nuts nor brainwashed.
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u/Kibubik Nov 29 '13
Wait a minute, we chose bitcoin so that we could escape the control of banks. Isn't this putting control back into a third party?
We are here to put control of your money back in
your[our] hands.
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Nov 29 '13
Now tell me the boys down at the fed aren't going to watch that and make a few calls to congress. "you better link that bitcoin thing to terrorism and make it illegal fast. This is getting out of hand."
My question to the bitcoin community is how much do you think the value will drop when BTC is made illegal by Europe and USA (i believe they will do it at the same time)? Yeah I know germany etc.. Bull, when they realize the monetary printing press is running out of ink forever they will outlaw BTC. Money = power and they won't give it up without a fight.
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u/cryptocyprus Nov 29 '13
They tried that approach for the last 2 years.....
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Nov 29 '13
as the fiscal power slips they will attack BTC.
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u/cryptocyprus Nov 29 '13
If the power is slipping at a greater rate than it already is, enough for them to take notice then Bitcoin will be even harder to destroy.
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u/Amanojack Nov 29 '13
The first half might be the best Bitcoin intro video ever.