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Of course it's feasible. It already "works": i.e. I can buy things with it, which is how currency works. Will it displace all other currencies? Unlikely. There
by stinkytaco 13y ago
Of course it's feasible. It already "works": i.e. I can buy things with it, which is how currency works. Will it displace all other currencies? Unlikely. There are major barriers such as lack of financial services, difficulty of use in any area without Internet (which is lots of places worldwide), volatility, etc, but there's no fundemental reason it can't work.
- lifeisstillgood 13y agoit does not need to displace them I guess - same way Euro does not need to displace USD, just needs to be a viable alternative. Which I suspect means being a viable repository of value of all current wealth so it can have a stable exchange rate I am interested in its ability to be a more secure Distributed hash table ala namecoin, but the tulip mania has me itching to just start mining. Oh well, why did I not start earlier? BTW do we know how many coins have been produced to date?
- stinkytaco 13y agoAbout 12 million coins have been produced. The reward halved a few months ago, so mining is probably not your best bet now. Of course, if the value increases, then I'm wrong, but mining is quickly becoming a professionals game.