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Bitcoin it ahead of its time. Bitcoin is has a lot of potential uses and these uses haven't gone away because a bubble burst.
by mcantelon 15y ago
Bitcoin it ahead of its time. Bitcoin is has a lot of potential uses and these uses haven't gone away because a bubble burst.
- tadfisher 15y agoMoreover, the network (and thus Bitcoin) will continue to exist so long as one individual keeps mining.
- eru 15y agoYes, but that doesn't guarantee demand.
- SkyMarshal 15y agoIndeed. In the long term this is just statistical noise, as long as the underlying tech and theoretical foundations are solid. People weened on CNBC and other breathless, 24/7 financial news give way too much credence to short-term market flutterings and twitterings.
- ubernostrum 15y agoOf course, the complement to this is that people whose knowledge of currency comes largely from Neal Stephenson novels give way too much credence to stories breathlessly championing Bitcoin as the future. Something that can trace its ancestry in a vague way to Bitcoin? Maybe. Bitcoin itself? Exceedingly unlikely.
- SkyMarshal 15y agoI've been wondering about that too. The chances that version 1.0 got it all exactly right is less than perfect. The SolidCoin fork has some interesting criticisms of Bitcoin: http://solidcoin.info/faq.php http://solidcoin.info/faq.php Still some calibration and iteration for Bitcoin to do as new lessons are learned about P2P currency. But the Bitcoin protocol and implementation are under active development, so I wonder to what extent it can still evolve without a reboot.
- andrewljohnson 15y agoDeflationary currency is an oxymoron.
- stevenwagner 15y agoDeflation - good for you, bad for the state. http://www.youtube.com/watch?v=a6E1k2YO9qU http://www.youtube.com/watch?v=a6E1k2YO9qU
- anonymoushn 15y agoMild deflation is the natural state of things - over time, most tasks should take less labor to accomplish because of improvements in technology and organization. Are we to prefer that a man who labors enough to buy four gallons of milk can only purchase a one if he chooses to do so 30 years later, even though the cost of producing milk in real terms (and indeed the price of milk in real terms) has decreased?
- nandemo 15y agoA deflationary currency might be considered undesirable but it is not an oxymoron any more that "inflationary currency" is.
- olliesaunders 15y agoIt’s ahead of its time socially but not technologically or even politically. We need bitcoin now, it’s just consumers don’t realize it yet.