Bitcoin

Bitcoin Expo Held in London Successfully

By Forexminute - Deepak Tiwari | Bitcoin |

Bitcoin Expo Held in London Successfully

The official Twitter handle of London Bitcoin Expo tweeted, “Thanks to VIPs that made BitcoinExpo possible, was so packed the bars couldn’t open until half way through so we got charged for their loss.” From the tweet it looks like the event was mega successful and helping the digital currency become even more popular than ever.

Now that Bitcoin has crossed the benchmark of $1200, no one knows where it can reach in the coming months. Some renowned speakers included Cody Wilson and Richard Stallman, Bitcoin developer Michael Parsons, Cryptoauction founder Daryl Cusack, and Stacy Herbert of the Keiser Report.

Bitcoin is receiving a lot of support from all across the board; from investors and academics, to political radicals and internet geeks, all have their own reasons to support the digital currency. London became a center for all Bitcoin supporters yesterday who gathered to discuss the challenges that face the currency, which according to them could become a global alternative to cash.

More than 1500 proponents of the digital currency gathered in London in the Bitcoin Expo to discuss the problems of the digital currency and how it could change the world. Whereas the popularity of Bitcoin is increasing, the increasing exchange value of the digital currency may trouble low-end customers or users.

Hundreds of online merchants and offline services are accepting or mulling plans to accept payments in Bitcoin; however, skeptics rue that it remains a very limited medium of exchange. For instance, according to them Bitcoin is still difficult to swap for ordinary cash. Nonetheless, it can hardly be used for storing assets due to large value fluctuations.

Bitcoin is not Completely Anonymous as Claimed

According to Richard Stallman, president of the Free Software Foundation, who participated in the event it is not going to save people’s privacy from US NSA spy agency data mining. He says that there is a need for a truly anonymous online currency as Bitcoin is not anonymous – that’s not part of its design.

For instance, he says that people don’t necessarily give their names when they do Bitcoin transactions, however, the government can probably figure out, who is doing the transaction. He questions how are users going to get Bitcoins after all, unless they set up a Bitcoin money computer, which is how Bitcoins are made, they are going to get them by buying them from someone.

Richard Stallman believes that the world needs an anonymous way to pay websites so that they can’t have the excuse that the only way to get any money is by advertising that tracks people.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com

About: Forexminute - Deepak Tiwari

avatar
Deepak Tiwari, a law graduate, has been working as a journalist for six years now. He currently writes on Bitcoin, economic, and Forex related news at ForexMinute, the brand new financial news portal ...


Brokers Promotions

    Bitcoin Expo Held in London Successfully 0 100 0
    Powered by WishList Member - Membership Software