3 ms·
> What is it _for_? It's a global immutable ledger that allows for the irreversible transfer of funds without needing to trust a 3rd party with the control of
by rensgspzn 9y ago
> What is it _for_?
It's a global immutable ledger that allows for the irreversible transfer of funds without needing to trust a 3rd party with the control of those funds.
Additionally, there's a cap on the total units of account that can exist.
Many people find a lot of value in all that, especially when compared to the slowness, surveillance, and inflation of traditional electronic monetary systems.
- lawless123 9y agoPlenty of surveillance and slowness on bitcoin.
- LMYahooTFY 9y agoIt's working as designed. The debate is on how to change the design, right? Furthermore, aren't the "lite" alternatives more functional in this regard?
- loceng 9y agoWhat about the buying power transfer issue? If Bitcoin is valued at $50 and then you pay $100, every single coin before your purchase has been bumped up by 100% value - and it will be future people that are paying for that, that money (someone's time/effort or resources) don't just magically get generated. This is only stable if there is continuous adoption and I wonder what the end point looks like for the 'late' adopters.