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I see BitCoin as an opening gambit not an end position. It's likely that BitCoin will bubble, froth, and ultimately collapse, but that it will be replaced by s

I see BitCoin as an opening gambit not an end position. It's likely that BitCoin will bubble, froth, and ultimately collapse, but that it will be replaced by something of similar form with certain structural improvements. I read (wish I could link to give credit to the commenter) a nice analogy today - of BitCoin being the Napster of the space, innovator but not the ultimate winner. Krugman's point as to its necessity is valid, however I still see it as likely that we'll end up with a currency of consensus, which has exchange value because a critical mass of people believe in its value and are prepared to act on that for a sustained period of time.

damian2000 14y ago
It could be that a large retailer with an existing user base could launch their own currency, much as Amazon has done in a limited fashion with Amazon Coins. http://www.slate.com/articles/technology/technology/2013/02/amazon_coins_jeff_bezos_brilliant_plan_to_give_free_money_to_kindle_fire.html http://www.slate.com/articles/technology/technology/2013/02/...
- XorNot 14y ago
  This would just be funbucks though, no different to Disney. What it would not be would be a separate currency, since that's illegal and for good reason: it would be a return to the days of being paid in company scrip, which can only be spent at the company store. EDIT: Not to mention that apparently we can't trust the government, but we can definitely trust a giant profit-motivated non-democratic entity to manage our currency?