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Armory and the Monetization of Bitcoin Wallets - Jon Matonis - The Monetary Future

One thing that no one seems to have commented on yet (in the reading I've done so far) is that the government, if they stepped in and somehow seized the Bitcoins would be in a pickle as they would need someone to purchase this electronic money or it has no value other than to make life miserable for those who it belonged to. So I can see the DC jokers wanting to shut Bitcoin down, this is after all another competitor to their fiat, and then go after any other Bitcoin imitator. As for a global electronic currency coming to a town near you, I see this happening soon. I can see where politicians will eliminate, to the extent that they can, any means to conduct business where they can't collect taxes of some sort. Certainly if you want to buy something from any bricks and mortar store they will have systems in place to ensure compliance. It will only be on the personal level where real money or other goods for barter will be useable and, illegal. It doesn't take much imagination to envision how the various alphabet soup departments will set up sting operations to catch the terrorists who refuse to give the politicians what they feel they are rightly owed.

I agree with you, my spare fiat goes into something that will always have value in someone else's mind, gold and silver.

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Beginning of the headline :A group of prominent investors recently made a play in the bitcoin wallet space by backing startup Armory Technologies, Inc. The $600,000 seed round investment will go mostly towards funding and expanding development. Interestingly, this placement brings into focus a much larger issue: the monetization of bitcoin wallets. It’s no mistake that Armory founder and CEO Alan Reiner told CoinDesk: “This first 12 months is more about developing a quality product than it is figuring out how to mone... Read More

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