While surfing on a Sunday morning in the crossroads of the my little Bitcoin/basketball universe, I found a Chicago Bulls fan who wrote a very clear article on three unique features of Bitcoin over on Medium. The NBA's Sacramento Kings now accept Bitcoin, and my buddy Jay Murphy has a son Erik Murphy who plays for the Chicago Bulls. I found Brandon Glier who clearly expressed his thoughts on Bitcoin, and I want to share with our Content Partners who now get paid in Bitcoin @ Film Annex Networks.

Brandon states:

"Money is going digital and it is impacting the biggest growth industry of the past 75 years. To really understand the power of Bitcoin, you need to think about it as 3 things:

1. A Protocol - network protocol designed to move and track the transfer of individual bitcoins from one party to another. The Bitcoin protocol leverages cryptography to ensure individual bitcoins, while divisible, cannot be copied and used twice simultaneously.
2. A Commodity - Bitcoins themselves (as a finite resource) resemble precious metals and make an attractive investment as a store of value and currency, while the Bitcoin protocol is a near limitless source of verified transactions that can be incorporated into products and services with relatively minimal effort.
3. An Ecosystem - Bitcoin has massive implications for markets that the current financial services industry has ignored or struggled to penetrate.

Point number three is very interesting to us because of our Women's Annex Foundation work in "Digital Literacy with Digital Currency". Developing Countries need Bitcoin (and other Digital Currencies) to work. 

Read Brandon's full article. 

We had a conversation on Friday at Film Annex with a friend of ours who is skeptical about Bitcoin. I made the point that the Mt Gox failure was a good thing long term for Bitcoin because:

• The Bitcoin protocol was not hacked, it was an exchange off the Bitcoin protocol that was hacked. It will push all developers to bring Bitcoin security to higher standards. 
• When the US economy was on the edge back in 2008, the Federal Reserve stepped in and arguably saved Goldman Sachs and Morgan Stanley. My personal opinion is this was a mistake, as thousands of businesses fail every year in good and bad markets. The failure of Mt Gox will make Bitcoin stronger long term. 

Follow me here on my Blog @ Film Annex and also on Twitter @ TargetThinking.

Also, come visit us On April 7-8 at the Javits Convention Center in New York City, "Inside Bitcoin Conference - The Future of Virtual Currency " will be held which is one of the largest Bitcoin exhibition.