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Not sure how it killed bitcoins, but while most of authors points are valid, conclusion - is not. People get in to this "Ponzi schema" exactly for reasons poin
by hippich 15y ago
Not sure how it killed bitcoins, but while most of authors points are valid, conclusion - is not.
People get in to this "Ponzi schema" exactly for reasons pointed by author - deflation currency, unable to track down, limited supply, free/crazy market value. They look for such currency. Why it could not co-exists with rest fiat, gold, game currencies?
If bitcoins will pass test of time, eventually its exchange rate to major currencies will settle down. But for now when accepting payment in bitcoins in my store I immediately convert these to dollars on mtgox.com, since I do not know will tomorrow exchange rate be +50% or -50% =) and I need to pay my supplier in dollars, not bitcoins.