No wonder Buffett is attacking Bitcoin and other technolgies like it...
he is trying to protect his stakes in AXP
But he won't be able to stop this movement and eventually it is going to greatly affect companies like AXP and V and Wall st will get out sooner rather than later imo.
Netscape founder Marc Andreeson Bets Big on Digital Currencies...
READ LAST SENTENCE IF YOU DON"T LIKE TO READ THE DETAILS..
But the big area where I feel AXP/V longs are especially vulnerable is in the area of new digital currencies that are poised to explode in the next few years.
Don't believe me righrt ? Look at the at front yahoo page Marc Andreeson bets big on Bitcoin look at what this says specifically about why this is coming fast:
So don't say I did not warn you you prefer to listen to wall st pros who have a vested interest in pumping V and most will learn the lesson the hard way with their wallets when this bubble market really corrects...
Andreessen has invested $25 million in Coinbase, which creates digital wallets, and smaller sums in Ripple, a payment system as well as other bitcoin-related companies, according to The Journal.
"There appears to be some need for a digital currency that crosses borders that anybody in any country at anytime can exchange...with low transaction costs [and] can then be picked up anywhere else in the world," says The Daily Ticker's Henry Blodget, about the potential demand for virtual currencies.
Related: Stakes rise for bitcoin backers as hackers attack
But will that change?
Andreessen is betting on it. He expects more Internet users will use virtual currencies in the future, to transfer digital contracts, signatures and money because the costs will be less than doing the same transactions through banks and credit card compani