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I am mostly commenting on a big amount of comments deeming Bitcoin a failure or similar. The Bitcoin of ~a month ago is not the same as today, that's a big pow
by kbody 9y ago
I am mostly commenting on a big amount of comments deeming Bitcoin a failure or similar.
The Bitcoin of ~a month ago is not the same as today, that's a big power, to have upgradable decentralized money. Certainly Bitcoin is not perfect, but the good thing is that there are a lot of talented engineers working on the issues and new features, the majority of them even before Bitcoin really was worth much. But having it being valuable at the moment also acts a huge security/bug bounty and an incentive for more people work on it and make it better.
= All about the price
Even if the price crashes horribly, unless there's a unrecoverable catastrophe, it will keep on going because there's an ecosystem around it and clear price-independent advantages. Using Bitwage to be paid in Bitcoins and avoid crazy cross-border/currency fees of banks will be still an advantage no matter the price of bitcoin. Same goes for prepaid/debit cards backed with bitcoin. Doing commerce painlessly without crazy procedures with Africa & Latin America or wherever. Being immune to capital controls and asset seizures.
= Hype
I hate the hype everywhere, but it's not the tech's fault so many cluessless & irrelevant gold-diggers try to ride the wave, just with a lot of things you can just ignore. If you follow the devs, they are pragmatic and don't try to pump-up things like most altcoins do, that's something I greatly respect.
Anyway, there's a long way to go, but just because there are flaws at the moment, it doesn't mean it's dead, it's a live technology. Being pragmatic is key, Bitcoin is not some Utopian perfect invention, but it's good enough for a lot of things at the moment and I see it getting better every year.
Bitcoin offers true permissionless commerce and ownership of wealth and it now might not make any difference in a lot of democratic countries until it begins to do.