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I don't get why crypocurrency even has to be a replacement for normal currency. I dont really think it should be BitCoin's goal to be able to 'live off of it l

I don't get why crypocurrency even has to be a replacement for normal currency. I dont really think it should be BitCoin's goal to be able to 'live off of it like normal currency'. It's just another financial tool, of many. People get so religious about it, and think it has to be "the future" and " the one true currency", and that some day you'll buy milk at your local grocery store with it... I dont think that should even be the end goal. Maybe BitCoin will get there some day, but even if it doesn't, that doesn't mean its failing as a currency. Like I said, its just another tool of many, good for some things, bad for others. It's not going to replace normal currency, but it's also not going to go anywhere anytime soon IMO. Credit Cards came along, and didnt completely do away with normal currency, so it shall be with bitcoin. I wish people would stop implying that it should be a replacement for anything. (and dont get me wrong, i'm a enthusiastic user and supporter of BitCoin... I just think some people get kind of silly with where they think bitcoin going)

lukifer 13y ago
Totally agree with this mindset regarding BitCoin. As with microwave ovens and tablets, some new technologies don't replace old ones, but rather occupy new niches that were previously not feasible. Put another way, I don't foresee a world in which state-backed currencies and crypto-currencies are not both useful.
betterunix 13y ago
"I don't get why crypocurrency even has to be a replacement for normal currency." The entire point of Bitcoin is to replace "normal" currency. Otherwise, we could just push for Chaum-style systems, which are better designed, more secure, and allow for things like offline transfers. The point of Bitcoin is to remove central authorities, which are the very thing that make other currencies valuable (yes, even gold, which would have been little more than a rare shiny metal were it not for ancient governments).
- alexanderh 13y ago
  Bitcoin can remove central control without replacing anything... It's already serving that purpose. It doesn't have to be the "one true anything" to be successful.

lukifer 13y ago

Totally agree with this mindset regarding BitCoin. As with microwave ovens and tablets, some new technologies don't replace old ones, but rather occupy new niches that were previously not feasible. Put another way, I don't foresee a world in which state-backed currencies and crypto-currencies are not both useful.

betterunix 13y ago

"I don't get why crypocurrency even has to be a replacement for normal currency." The entire point of Bitcoin is to replace "normal" currency. Otherwise, we could just push for Chaum-style systems, which are better designed, more secure, and allow for things like offline transfers. The point of Bitcoin is to remove central authorities, which are the very thing that make other currencies valuable (yes, even gold, which would have been little more than a rare shiny metal were it not for ancient governments).

alexanderh 13y ago
Bitcoin can remove central control without replacing anything... It's already serving that purpose. It doesn't have to be the "one true anything" to be successful.