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Why not? If the crypto is bulletproof and the theory is sound shouldn't it be the ultimate place to keep your money?
by msy 15y ago
Why not? If the crypto is bulletproof and the theory is sound shouldn't it be the ultimate place to keep your money?
- dfox 15y agoBecause market value of BTC is not at all stable or proven as the market is quite small. It is entirely imaginable that somebody will design similar, but slightly better system (faster transactions, more efficient implementation, whatever) that will cause most bitcoins traders to move there. Essentially, system like this depends entirely on market, while nothing has "inherent value", most physical things can be still exchanged for something (and actually gain value) after market crashes, when this kind of virtual market is abadoned, you are left with completely worthless big chunk of data.
- msy 15y agoSo if this is an unstable, unregulated market that shouldn't be used for anything more serious than pizza at what point is that going to change? What magical thing is going effect to change? And if that thing doesn't exist, what is this apart from a more complicated way to waste electricity than Seti@Home?
- hasenj 15y agoThe assumption/hope is that it will stabilize as it grows, but this will take time. It's not gonna be a magical thing/moment.
- Tichy 15y agoIt only has value if people accept it as payment. Cryptography is only part of it.