RE:RE:RE:RE:RE:RE:BitGold Case Study VenezuelaThe subject of Venezuela seems to wandered into what may well be the greatest challenge BitGold and GoldMoney will face in their dream of becoming a widely-adopted alternative to the entrenched (i.e., monopoly) banking industry. Namely, that banking industry itself, and their lackeys in the political establishment.
At this point, the company seems to be following a strategy which is part stealth and part appeasement in the form of a stated determination to somehow remain "apolitical." (Like I've been saying, these guys aren't dumb.)
Taking the high road is working well so far, but the business plan (taking savings and trade out of the control of the banking system and giving it back to the people) is very much a political project whether they like it or not. I can't help wondering what will happen if they reach a point where the company starts becoming a bona fide threat, and like many techno-agnostics before them (Google, Facebook, etc.) they are forced to decide which side they are (really) on.