Bitcoin BoardVenture Capitalist Marc Andreessen is known to be a big Bitcoin fan. Together with his firm “Andreessen Horowitz” he has invested just under $50 million in Bitcoin powered startups like Exchanges, ATM’s, Services & More. However, he doesn’t even own a full Bitcoin himself,
At this moment I’m investing in the Infrastructure rather then buying a bunch of Bitcoins and hoping that they will be worth a lot someday. If there isn’t a proper infrastructure, the coin will never become globally recognized as an official currency.
Andreessen thinks it is important that people start to realize this, and encourages other investors to fund Bitcoin based startups. Once in a decade, a mysterious new idea emerges created by anonymous developers & researchers. Nerds & technologists are transfixed by it. They see within it enormous potential and spend their nights and weekends tinkering with it. Company’s start commercializing the idea, and try to be the first to encourage it. This is already happening with Bitcoin.
At this moment we are going from the “hardly used” phase, to the “becoming more mainstream” phase. The first big company’s are trying to cash in, like Overstock or Casino’s. When more and more people start to use the idea, more and more people wonder why its powerful promise wasn’t more obvious from the start. This has happened before with Personal computers in 1975, the Internet in 1993, and – I believe – Bitcoin in 2014.
Almost no transaction fee’s, quick sending & availability to be used anywhere in the world will be the main points that will spark the Bitcoin boom we have in front of us. Along with one feature that most people are overlooking: protection against fraudulent transactions by Credit Card. This is a huge deal for merchants, as Credit Card fraud takes away 5 to 10 percent of profit that they could have had if customers paid with a more solid currency.
