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Cell phones aren't the best example for you. As soon as economic and technical hurdles were cleared, cell phones became one of, if the most, rapidly and widely
by canoebuilder 8y ago
Cell phones aren't the best example for you. As soon as economic and technical hurdles were cleared, cell phones became one of, if the most, rapidly and widely adopted technologies ever.
Cell phones also provided something genuinely novel and useful for those who adopted them, in a package that was familiar and easy to use.
Bitcoin, by comparison, okay I can pay for some things, well I could already do that. I have to adopt hard to understand security measures and my every action with my 'money' is fraught with peril if I'm not exceedingly careful. Well, that's new, but it's not something that appeals to most people.
- chrisco255 8y agoCell phones are a great example. They had absolutely dismal coverage in the early days and your bill would be hundreds if not thousands of dollars if you happened to roam in the wrong county. No one questions them today, but to many folks, they were a hard sell in the early days. Most folks thought they'd use a cell phone for emergencies only. I don't know how you can look at distributed blockchain technology and not see something genuinely novel there. A set of algorithms and code are capable of replacing the functions of a bank (and then some). That is, you can store, transfer, and program the behavior of money around the world without any third party telling you can or can't. Besides being open source money and all the awesome implications of that, crypto currencies are programmable. You can control the timing and flow of crypto according to scriptable logic. Please explain how you'd write a smart contract that escrows money and disburses according to preconfigured rules using USD. What would you have to do to achieve that with code, today?