http://bit.ly/1LT1kgh least Armstrong has stopped ridiculing anyone mentioning Bitcoin, but what follows remains incredibly absurd.I am skeptical about private cryptocurrencies because anything that threatens those in power losing control or avoiding taxes will be hunted down with a vengeance.Cryptocurrencies sure are being hunted down when former treasurers and banking executives have jumped ship to joink the ranks of Bitcoin proponents.Bitcoin is also a politician's wet dream in terms of tracking, identity verification and control. Governments are virtually guaranteed to adopt some form of cryptocurrency.The big problem government has with moving fully electronic is that not everyone has a computer and about 50% of the world does not even have a bank account.Just about anyone in finance today understands that mobiles are entirely capable of handling Bitcoin, or any other cryptocurrency with a mobile app for that matter. When was the last time anyone lugged around a 5kg brick simple to do online banking? Has Armstrong heard of M-Pesa?The part about half of the world not having a bank account is laughable. If Armstrong spent a few minutes reading or even testing a wallet out, he'd grasp the notion that you become your own bank. For someone with a strong programming background who claims to have created a true artificial intelligence, he seems to be completely lost on everything that's happened here in the past several years.It's undeniable that Armstrong's predictive model is effective and powerful. At the same time, he dismisses fundamentals in favor of cycles. So why is he dismissing Bitcoin using arguments based on fundamentals?Sorry Martin, when it comes to Bitcoin you've got a lot to learn. via /r/Bitcoin http://bit.ly/1LT1kgj
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