Eight months ago, I knew nothing about bitcoin. But I look at...

Eight months ago, I knew nothing about bitcoin. But I look at the American CBS site every morning and bitcoin kept cropping up. So I began an intensive learning course to find out what it was and how it worked, with emphasis on bitcoin and the general community, versus the computer geek angle. (We need 'em, love 'em).

The more I learnt about how it works in a practical way, the more convinced I became that it WILL succeed as the payment way of the future. Its just too 2015 techie not to, and it now has billions of dollars of real backing. Now armed with a good practical working knowledge of bitcoin, my antennae goes up every time I hear a bank pooh-poohing it. They would do that, the have an awful lot to protect. The recent APEC meeting raised the issue of bank fees on international transfers to a very high level. The banks' gravy train is facing a big test.

So following on from that, I think DCC may be a bit ahead of its time in the general public Australian scene.

The only thing missing here is the failure of DCC to capitalise. I know that the execs are the sharpest people, and it was brilliant to set up so soon in listed form, ready for action. (that didn't come). But just because they are very smart at understanding bitcoin, does not make them market street-wise. They are not alone in this, a few years ago, one of Australia's smartest silks lost $100m because he was not street-smart when it came to the market.

So the first opportunity has been lost, but as long as they keep the company running smoothly, they will still capitalise later. In the meantime they have a lot of very disappointed shareholders, who may put selling pressure on any market rise. The risk is that another bitcoin company that IS market-savvy, may list and scoop the pool. Several US-based bitcoin startups deluge me with their promotional stuff frequently, while DCC remains silent.

I'm not just whineging, I contacted DCC exec, and spoke to willing broker, and tried to get the two together. But it takes two to tango, and what a dance it might have been....