FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Understanding a Bitcoin Advocate

TekFinbyTekFin
January 6, 2014
in Payments
Reading Time: 5 mins read
0
Share on Facebook

After an eventful last year, 2014 is starting with more debate and conversations around Bitcoin.

It is often said that understanding Bitcoin is too technical for the average user (and at core it is, for a good summary of Bitcoin, this things the following is one of my favorite posts : http://brokenlibrarian.org/bitcoin/ ), but understanding Bitcoin advocates might be an easier tasks. In my view they split among 3 categories:

> The Libertarian: he is most likely an early Bitcoin supporter. As mentioned by the ECB, his economic background comes from the Austrian school , they see in Bitcoin a competitive currency with the main advantage of not being linked to any State. Often a goldbug as well, he considers  the limit of 21 million (or so) Bitcoins an important advantage as well. The deflationary nature of Bitcoin is an asset.

How to spot him: look for mentions of Hayek, fiat currency, algorithmic currency

> The Speculator: he bought Bitcoin at X and now it is at Y. Will share any rumours mentioning a high Bitcoin price. Bitcoin the new currency in China: share. Bitcoin coming from Alpha Centauri (thanks @azeem): share. He is a Libertarian when needed and a Protocolist as well.

How to spot him: look for retweets of Bitcoin going to $1M posts

> The Protocolist: often a techie, he sees Bitcoin as the equivalent of the internet protocol for payment or even further as a distributed ledger for all contractual agreement between a number of parties. Notably, the much lower transaction fee on the Bitcoin network appears as a great alternative to the 2.x% of credit card networks.

How  to spot him: look for mentions of interchange, remittance and http for payment.

In truth the distinction is not that clear and most people interested in Bitcoin are a blend of various proportions of these different types (and most likely different at different times).

There is also a Fourth category, one that does not have so much public exposure and that would be interesting to know more about:

> The Consumer: I am talking about the Chinese investor that use Bitcoin for Tax/Currency evasion. The underground population that transacts with Bitcoin. But also the buyer on Overstock.com, Zynga or other more mainstream ecommerce sites. Maybe the best way to start is to look for technical services providers such as hosting, etc. Because it is difficult to isolate commerce from other flows, the actual volume is tough to estimate at the moment. If you have bought (as more than an experiment) services and products using Bitcoin, I would love to hear your feedback.

  • Tweet This!
  • Share this on Facebook
  • Share this on del.icio.us
  • Digg this!
  • Share this on Reddit
  • Stumble upon something good? Share it on StumbleUpon
Get Shareaholic

Tags: Market WatchMindset
Previous Post

Branch image capture – Maximizing the initial investment for increased benefits

Next Post

2013 Federal Reserve Payments Study Charts Changing Methods

Related Posts

A hand holding a mobile phone with the Remitly online remittance service app displayed on it
Payments

Remitly creates new debit card in push beyond money transfers

July 30, 2026
Photographer: Daniel Acker/Bloomberg via Getty Images
Payments

Visa forming ‘agentic squads’ amid AI revolution

July 29, 2026
Signage is displayed inside the American Express Co. Centurion Lounge during a media preview event at Los Angeles International Airport (LAX) in Los Angeles, California, U.S., on Thursday, March 5, 2020. AmEx has told shareholders that spending on membership services, which includes its lounge collection, will be its fastest-growing expense this year—cost decisions that came prior to the current crimp on global travel due to coronavirus. Photographer: Patrick T. Fallon/Bloomberg
Payments

American Express to insure agentic commerce

July 24, 2026
Next Post

Atlanta Fed Names Gilmore Vice President and Regional Executive

Please login to join discussion

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

The Buzz Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

 [wt_cli_manage_consent]

Connect

twitter linkedin podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account