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IMHO, this isn't a failure. We know that it's not going to be a business-as-usual currency. Easy credit is an incentive for business; inflation is an incentive
by chipsy 14y ago
IMHO, this isn't a failure. We know that it's not going to be a business-as-usual currency. Easy credit is an incentive for business; inflation is an incentive for consumers. Governments have much better control over that.
BC is better understood as a commodity market with a simpler financial instrumentation. Instead of trading contracts for goods, you are able to trade the good itself, at internet speed and scale. That's a big innovation and we've only started to realize the consequence of it.
- betterunix 14y agoExcept that Bitcoin is not a commodity (as the term is commonly understood) because it has no use other than as a currency.
- BerislavLopac 14y agoWhich only means that its value can drop to zero, unlike other commodities.
- dcc1 14y agoActually bitcoin is great for laundering, so it will always have "some" value
- betterunix 14y agoOnly as long as there are legal uses for it; otherwise, it is as good as laundering money by buying and selling cocaine.
- kruhft 14y agoIt creates discussion. That has to have some value on the internet, especially for ad based sites.
- metaeaux 14y agohttp://blog.oleganza.com/post/42262765318/direct-use-value-of-bitcoin http://blog.oleganza.com/post/42262765318/direct-use-value-o...