As a VC, my interest in the Bitcoin ecosystem is not ideological but mercenary. I see the opportunity for Bitcoin to disrupt multi-billion-dollar markets, but in doing so also create new big markets. There are three key markets in Bitcoin:
Wallet. Holding your Bitcoins for you, serving some of the checking account functions of a bank.
Exchange. Converting from USD to Bitcoins and back.
Payments. Helping merchants accept Bitcoins for their transactions.
As a rule of thumb, VCs like to see billion-dollar markets to get excited. How can each of these markets get to be a billion dollars in size?
It is free to get your own Bitcoin wallet, a piece of software on your computer that you can use to send or receive Bitcoins. However, this entails storing…
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