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I'm going to take the opposite view. Bitcoin is still staggeringly unadopted amongst the general population - it's like declaring Prodigy the winner in digital
by julespitt 13y ago
I'm going to take the opposite view.
Bitcoin is still staggeringly unadopted amongst the general population - it's like declaring Prodigy the winner in digital communications. Meanwhile, any currency is "as good" as Bitcoin when it is accepted and easily converted - so if CoinBase or Mt. Gox add new currencies, instantly they work as well as Bitcoin (as money, not necessarily as an investment) for the customer or merchant.
Only in information-poor environments does one need currency near-monopolies for economies to thrive - this is no longer the case.
So, the future? Hundreds of cryptocurrencies, private currencies, and still mostly good old fashioned government currencies. All instantly convertible so no merchant need really care what a customer pays in, as long as he gets the one his obligations are predominantly denominated in.
- deleted 13y ago[deleted]
- aneth4 13y agoCurrency has two major functions. As a medium of transfer, you may be correct. As a store of value - I find it hard to believe another cryptocurrency will approach Bitcoin.