Transfer of Wealth To Asia and Bitcoin

One of my friends in the US plans to move to Vietnam in about a year and actively promote Bitcoin, an online currency growing in popularity each year.  I actually have an account with 1 Bitcoin and am still learning the ropes of using this type of currency.  I was surprised at the many thing you can buy with Bitcoins including even trading them for money.  Here is an article about Bitcoins could transfer the wealth from the US to Asia via Bitcoins technology.

Except: Politicians in the United States frequently talk about the transfer of wealth to China. Jobs are moving from the U.S. to China due to lower costs. Most of the manufacturing jobs that formerly existed in America have been transferred to China, Vietnam, South Korea and other Asian countries. There is, however, another transfer of wealth that is occurring that is not so apparent to government authorities. The future of banking jobs, financial institutions, and anything involving money transactions are also beginning to move to countries outside of the U.S. Currently the value of the U.S. dollar is strong compared to other currencies, but this will soon change. The U.S. has too much regulation, overhead, and red tape over the transmittance of money. If it were not for needless U.S. regulation more successful bitcoin companies would have been created on U.S. soil, thus creating more jobs. Instead companies such as “Mt. Gox”, based in Japan, and “Bitcoinica”, created in Singapore/China, are completely dominating the bitcoin market. The U.S. is destroying itself from the inside because of excessive regulation. Source: http://www.bitcoinblogger.com/2012/02/transfer-of-wealth-to-asia-accelerating.html

Read more of the article here -> Transfer of Wealth To Asia Accelerating Faster Due to Unreasonable U.S. Regulation. U.S. Losing Bitcoin Race

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