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You seem very confused about what money is.
by nvk 9y ago
You seem very confused about what money is.
- luckydata 9y agoI don't see the confusion. Care to explain?
- ujal 9y agoCountries and their economies collapsing now and then are not that rare.
- asdasdas23123 9y agoCrypto's value collapsing now and then isn't rare either
- ujal 9y agoAt the minimum you can't fake its value.
- tptacek 9y agoNo, obviously you can. You're confusing the bits covered by a signature with the real-world interpretation of those bits.
- ujal 9y agoWell, good luck getting even the real inflation rate from a corrupt government.
- tptacek 9y agoGood luck buying a slice of pizza with bitcoin.
- ujal 9y agoIn Zimbabwe you can.
- tedunangst 9y agoSometimes I wonder what percentage of the people talking about all the things one can do with bitcoin in Zimbabwe have been to Zimbabwe and done those things.
- ujal 9y agoIn this case I was the child of my parent. But given that people over there are selling their cattle with bitcoins it seems not too far off.
- tptacek 9y agoAre they transacting in bitcoin, or simply using bitcoin as a device to evade capital controls? There are lots of ways to get around capital controls, and bitcoin may very well be an effective way to do that, but that's not evidence of bitcoin's utility as a mainstream currency.
- deleted 9y ago[deleted]
- notyourday 9y agoSeems rather rare to me. If a Dotcom type of an event affected bitcoin ecosystem, it would not have recovered - it had millions of participants actively winding up and unwinding positions in real time, which is not something that bitcoin is capable of supporting at this time. If a Housing Bubble type of an event affected bitcoin ecosystem, it would not have recovered. Lots of special purpose leveraged positions needed to be de-leveraged. Something that bitcoin is not capable of supporting. If LTCM type event affected bitcoin ecosystem it would not have recovered. I dont even want to think about the effect of LTCM type event on a bitcoin. All three were absolutely survived by the modern economies.
- ujal 9y agoSure, but not everyone has the privilege of living in a first world country. See for example the Republic of Georgia utilising blockchain tech to secure real estate transactions [0]. Now I am actually less afraid of investing my money as I don't trust their government. [0] https://www.forbes.com/sites/laurashin/2017/02/07/the-first-government-to-secure-land-titles-on-the-bitcoin-blockchain-expands-project https://www.forbes.com/sites/laurashin/2017/02/07/the-first-...
- notyourday 9y agoIt uses a distributed public ledger, not bitcoin.
- ujal 9y agoIt does use bitcoin to verify the transactions. Point is, bitcoin - currently being the biggest blockchain deployed - is more trustworthy than most governments and therefore most currencies. I am not an economist though and regulations seem to be necessary in the real world. Any ideas as to what technology, giving widespread adoption, would make them obsolete?
- notyourday 9y agoIf the claim is that the private data unrelated to bitcoin transactions is being published and verified on a bitcoin blockchain then this is a scam. It is absolutely amazing that the person who wrote this article still has a title of a Senior Editor that claims to write on this topic.