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I think most of this can be explained by thinking of Bitcoin not as digital dollars, but as digital gold (a perpetually limited, deflationary value store that i

I think most of this can be explained by thinking of Bitcoin not as digital dollars, but as digital gold (a perpetually limited, deflationary value store that is immune to central-bank meddling). A lot of us in tech are really excited about crypto, but the economic realities mean it's very likely that for any particular token to be treated seriously as a currency it would need central bank support - which is anathema to Bitcoin's stated purpose.

opportune 9y ago
Yes, I am aware of that. I'm not confusing crypto with Bitcoin, actually I'm bullish about crypto in general. I'm saying that Bitcoin the currency is like pewter or lead compared to BCH or ETHC. That's why it's not gold. It's like a version of gold that's heavier and more useless than some other perpetually limited, deflationary value store. In fact I think I'm going to start calling Bitcoin "digital lead" because it's so hard to move it around.
- headmelted 9y ago
  Digital lead. I like it. We ICO on Monday!
RealityVoid 9y ago
"but the economic realities mean it's very likely that for any particular token to be treated seriously as a currency it would need central bank support" I keep hearing this, but I'm not convinced. I think currently, BTC is digital gold instead of digital money more because of technical issues rather than because it isn't backed by a central bank. What would be the missing piece that a central bank would bring? Price stability?