Last updated on July 21st, 2013 at 08:30 pm
A few days ago, we probably witnessed the biggest transaction ever made in the Bitcoin universe, when the gambling site SatoshiDice was sold for 126,315 BTC. Since this is a new experience, we are still waiting to see the possible consequences of such a movement to Bitcoin’s volatility and price fluctuation.
The only thing we know for sure is that this event opens a new door in the Bitcoin ecosystem and places a question that’s now hovering over our heads: will cryptocurrency be able to find its way into unrelated financial transactions? Especially in a time when several companies have started using Bitcoin to pay salaries and several online and real merchants are now accepting it as a form of payment for products or services.
Looking at the cryptocurrency scenario, it seems we are not so far from seeing a venture capital invest thousands of Bitcoins in a company, instead of dollars or euros. But that is probably just our confidence in Bitcoin playing tricks on us. What would be the consequences of such a deal? Our bet is on value fluctuation, which would probably be the biggest challenge when we think about this possibility.
This hypothetical situation has pros and cons, but clearly the business world is still not ready to see this happen. Too many rules and guarantees are waiting to be created and implemented. The world of venture capitals seems quite comfy with its feet wrapped in a Bitcoin blanket, but it will take a while until this blanket is “allowed” to cover the whole financial body. So, a Bitcoin-denominated venture capital can still be far away from our current reality.