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Message
Here's why Bitcoin is the future of money
Posted on 5/1/13 at 8:22 am
Posted on 5/1/13 at 8:22 am
quote:
It's easy to dismiss Bitcoin or crypto-currencies as the flailings of a disaffected, semi-anarchist hacker community trying to undermine the system. But you know what? Hackers created the Internet, and the decidedly anti-establishment Steve Jobs gave us the modern technology era we know and love today. A lot of good ideas started out as techie experimentation.
Plus, and more saliently, I have it on good authority that the U.S. government and others are very, very interested in Bitcoin -- so much so that there are nascent attempts to regulate it and federal authorities and lawmakers have been warning about its nefarious nature for a couple of years now.
quote:
Bitcoin may not last, but crypto-currency is here to stay -- it's only a matter of time before a government replaces paper with more traceable, secure digital money.
LINK
This post was edited on 5/1/13 at 8:23 am
8
Posted on 5/1/13 at 8:27 am to gizmoflak
please do tell how it will be the future of money when
1.probably 50% of our society isn't even technologically capable of checking email much less bitcoin mining and transfers
2.the average african american woman has a $5 net worth...how will they afford whole bitcoins
3.how the hell are you gonna ever process a digital transaction of a candy bar with .0234 bitcoins in a timely manner
bitcoins are a ponzi scheme that i wish i got in on last november and cashed out/close thread
1.probably 50% of our society isn't even technologically capable of checking email much less bitcoin mining and transfers
2.the average african american woman has a $5 net worth...how will they afford whole bitcoins
3.how the hell are you gonna ever process a digital transaction of a candy bar with .0234 bitcoins in a timely manner
bitcoins are a ponzi scheme that i wish i got in on last november and cashed out/close thread
This post was edited on 5/1/13 at 8:27 am
Posted on 5/1/13 at 8:37 am to gizmoflak
I doubt Bitcoins are the future of money. More likely is a digital currency issued by a consortium of nations with many of the features of Bitcoins. The governments of the participating nations will regulate the validation processes and provide the enforcement mechanisms to provide the general users with a greater degree of confidence about the stability of the system.
Posted on 5/1/13 at 8:39 am to gizmoflak
Posted on 5/1/13 at 8:54 am to gizmoflak
quote:
Hackers created the Internet
Right, them or the US Defense Department, that noted bastion of anarchy.
quote:
decidedly anti-establishment Steve Jobs
someone has bought into Apple's marketing hype. Interesting how in the last couple weeks the discussion has gone from "Bitcoin is the wave of the future" to "some crypto-currency will be the wave of the future, eventually." Those are very different claims.
Posted on 5/1/13 at 9:48 am to gizmoflak
quote:
Here's why bitcoin is the future of money
quote:
quote: Bitcoin may not last, but crypto-currency is here to stay -- it's only a matter of time before a government replaces paper with more traceable, secure digital money.
If the government does what your quote claims, then, this is why bitcoins is NOT the future of money.
Posted on 5/1/13 at 9:57 am to gizmoflak
quote:
Hackers created the Internet
Nope, it was ARPA. I walk past the building where it was done every morning on the way into Rosslyn, there's a marker in front about it too.
Posted on 5/1/13 at 10:46 am to gizmoflak
quote:
Bitcoin may not last, but crypto-currency is here to stay -- it's only a matter of time before a government replaces paper with more traceable, secure digital money.
I think it's more likely that some enterprising people replace traceable money with a bitcoin-like alternative.
Bitcoin is not that answer, but it has opened the eyes to it's replacement - whatever that will be.
Posted on 5/1/13 at 1:50 pm to gizmoflak
I will never understand bitcoin. It's not tangible or backed with anything remotely tangible. Created to anonymously transfer money, yet not stable enough to do so effectively. I would think many of the original users have stopped using it as much because of the extreme volitilty of it. Most of the people buying and selling bitcoin just seem to be speculators who hope to use it as an investment, both short and long term, when it has lost it's original use and utility value.
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