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This reminds me of my wannabe indie developer friends saying things like, "If we sell this program for $10 and only 1% of Mac users buy it, we'll make $BIGNUM!"

• em3rgent0rdr 9y ago
  In just the past year we have seen instability of states such as Venezuela, Zimbabwe, and even US.
  • VVayneTracker 9y ago
    How is a currency backstopped by nothing going to be superior? Volatility? It won't have the same exposure to the source of volatility to which national currencies are succeptable? Presumably it wouldn't be encumbered by an obligation to provide for the welfare of its constiuents. But in that sense, the burdens of a citizenry also translate into a valuable commodity which can be leveraged in the form of labor. Just spitballing here. It's a very interesting thought exercise. No person or entity can affect the money supply so the only governance function would presumably be This seems very murky. It's utility as a currency of last resort seems uncertain and therefore relatively weak. Considering it would have to serve as a source of stability in a time of volatility which is itself a highly uncertain proposition. To my mind, seems likely BTC is being used by the super-wealthy (persons and fictitious entities, i.e. corporations) to avoid taxes and to pay bribes.
    • Cthulhu_ 9y ago
      BTC is currently being used by a number of (rich) investors and a very, very large horde of excited people that see a lot of other people that got very rich this year. Tax avoidance in that last group is probably more out of ignorance than anything - I mean for a lot of people it's their first dip into something like the stock market.