Originally Posted by kazbalah

Here is a good example i heard about.

In nigeria or one of the African nations, a new currency was born out of trading cell phone credits. Its called the el paso or something like this.

Basically people can text phone credit to each other, trade it. Now it makes up 40% of the countries total trade. People can text message credit to each other using old nokia 3230 style phones.

Someone can go into a little shop, and trade these phone credits for eggs milk and bread or whatever they need. They text message the credits to the shop owner and its done, its irreversible.

The banks are a joke.. 30$ to cash a cheque, wait 2 - 4 weeks.. huge fees, their has been no competition or innovation in the financial sector for over 50 years, besides derivatives and other crazy ponzi schemes.

Saying we have missed the boat is a bit small minded i think. Perhaps we missed the chance to buy bitcoins for a few cents each. But many people, myself included think the price of bitcoin is very low.

Its simple mathematics, their are 21 million total bitcoins so its rare. If the whole world started using it, the price would be 10,000 or even 100,000.

And apart from that their is still alot of money to be made in alt coins, trading exchanges and other tools in the industry.

I think everyone should really take the time to look at this technology properly, its not just a coin its a whole new business eco system and architecture.