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As an idea, bitcoin is perhaps one of the most revolutionary ideas in our lifetime. As a practical, functional currency bitcoin may fall short. It is clear that
by jostmey 14y ago
As an idea, bitcoin is perhaps one of the most revolutionary ideas in our lifetime. As a practical, functional currency bitcoin may fall short. It is clear that the first two economists quoted in the article simply fail to grasp the gravity of the concept of a purely digital currency. It is without borders. It is beyond the reach of government. It is the future.
- jchan 14y agoFinally, an objective opinion.
- illuminate 14y agoOr perhaps the economists are far more familiar with BTC's precursors in spirit and practice than you are. Very few concepts are truly original. That you can't imagine them does not mean that the economists are wrong. (Granted, they could be still, but arguing from a lack of imagination is far less convincing.)
- jostmey 14y agoAn idea does not have to be novel or radically different from everything before it to be revolutionary. Perhaps the best ideas simply build on the old ones.
- illuminate 14y agoWhich is true (and why I think BTC's children will fare much better) but "revolutionary" doesn't mean unfathomable, unquestionable, and alien from all that's come before.
- betterunix 14y ago"As an idea, bitcoin is perhaps one of the most revolutionary ideas in our lifetime" Not even remotely close to it. "It is the future" I am sure people will talk about it in the future -- as an example of a failed experiment in currency without authority.