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Well, I think nobody knows exactly what it is yet. It's an emerging technology, so even if there's a great deal of utility it's not surprising that predictions
by cal5k 7y ago
Well, I think nobody knows exactly what it is yet. It's an emerging technology, so even if there's a great deal of utility it's not surprising that predictions will be off the mark/downright wrong, and that opportunities will be missed that eventually seem obvious in retrospect.
And there is no cohesive "community" that's making predictions and measuring against them. It's just people speculating out loud, and then other people writing about the speculation.
It's a bit unusual because it started out as a cool technological curiosity vs. a product with a defined product/market fit. Sort of like desktop computing in the 70s.
- Balgair 7y ago> Resilient as in despite 10 years of continuous doomsday prognostications, > It's an emerging technology, What are the timelines like here? If 10 years is too short to suss out what BTC is going to be useful for, will another 10 years help? Is this a 100 year long thing then?
- cal5k 7y agoIt's useful now. It could be more useful in the future, or it could be supplanted by something else. All I'm saying is that big changes don't happen as fast as people expect, and it's hard to determine where they'll go while they're happening. See: the internet, cell phones, desktop computers, space travel, etc.
- johnpowell 7y agoInternet was expensive when it came out. Remember when it used to be pay by the hour and tied up your landline? I had internet through the University and had to kick people out of my apartment because they would sit at my computer forever. Everyone I knew in high school wanted a cellphone but couldn't afford it. Same with desktop computers. Same with space travel. Everyone wanted that that stuff but it was expensive. Bitcoin isn't hard or expensive to get. But still nobody wants it.
- cal5k 7y agoBitcoin trades on open markets. If it was worth nothing and nobody wanted it, it would trade at $0. Instead, 1 Bitcoin is currently trading at $8,400 USD. Tens of billions of dollars are tied up in it, and it's impossible to trivially create new Bitcoin. So... pretty much exactly the opposite of what you're arguing.