4 Risks Bitcoin Must Overcome – Yahoo Finance
13, 2014 /PRNewswire/ — GBI (Gold Bullion International), an electronic platform for the purchase, sale and storage of precious metals, is pleased to announce that New York Private Bank & Trust (NYPB&T) has made an investment in the company. The NYPB&T investment will enable GBI to continue its growth including the build-out of its cutting-edge, Internet-based software offerings for use by sovereign mints, wealth managers, investment firms, high net worth investors, as well as for digital currencies. New York Private Bank & Trust is the parent company of Emigrant Bank, HPM Partners and three Internet-based banks, and offers private banking services through its NYPB&T division. NYPB&T and its affiliate companies will join the GBI platform in order to offer its wealth management and banking clients access to physical precious metals through GBI’s platform. “The GBI family is excited by its partnership with NYPB&T,” said Steven Feldman, GBI’s co-founder and CEO.
Why Bitcoin’s Growth Should Explode – Yahoo Finance
Developers need to make sure the system stays secure while being able to process trillions of transactions per year. Design Risk The last risk is that bitcoins incentives need to be designed correctly. The system currently works by having volunteers process transactions. These volunteers are called miners and are financially compensated for their effort. If the incentives for the miners aren’t designed correctly and for some reason in the future that cant be changed, then the bitcoin system could collapse. Bitcoin is just starting to become useful.
This could be compared to email versus standard mail. Bitcoin is the same idea — send money as fast, cheap and easily as sending an email. To realize that vision, two things need to happen: infrastructure needs to be built and a critical mass of people need to have bitcoin. Related Link: Signs A Bitcoin Tidal Wave Is Forming To Disrupt Business The Coming Explosion Bitcoin is very easy for companies to integrate. Dell and Overstock both implemented bitcoin payments one week after making the decision to go bitcoin. Why so fast? Bitcoin is a modern open system.