It’s been a real good Week for Bitcoin!
There’s been much good news about bitcoin this week. China is back in the Bitcoin business; Forex trading instruments are being introduced and hearings by the New York State Legislature this week left this writer very pleased. So I thought I would provide some positive analysis about the competitive advantage Bitcoin enjoys over our larger competition.
PayPal plus eBay plus Apple VS. Bitcoin
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The combination of Apple, eBay and PayPal would be a solid threat to bitcoin growth. Fortunately they will be unlikely to get there acts together before bitcoin has solidly entrenched itself into the market. And these three have serious disadvantages that will result in Bitcoin being the victor regardless
First and key to the competitive advantage is money. Bitcoin is free and PayPal is not and that is a knock out blow over the medium and long-term.
Secondly, corporate greed and competition will be an advantage for Bitcoin. Hedge fund attack dog Carl Ichan wants eBay to spin off PayPal and so should all of us bitcoin enthusiasts. Interestingly Icahn is also actively trying to convince Apple Computer CEO Tim Cook to increase his share dividends and buyback programs for the good of their shareholders. When outside investor greed and short-term thinking can distract bitcoin competitors — it’s a good thing for bitcoin.
Amazon and Visa Vs. Bitcoin
When Visa CEO Charlie Scharf stated that “We feel quite comfortable with the business we have here,” we in the bitcoin community should stay very quiet. The key rule of business war is quite simple — never interrupt the enemy when they’re making a mistake. Likewise when Amazon drags their heels in accepting bitcoin we should also smile and keep on building out the network.
Western Union VS. Bitcoin
This battle will be short-lived in the world of International remittances. Their business model will be the first to crumble.
Did I mention Bitcoin is free?