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What a nonsense. About 70% of the world's population have their cash in a pocket and living from a wage to a wage or by some craft or sales business without any
by dschiptsov 13y ago
What a nonsense. About 70% of the world's population have their cash in a pocket and living from a wage to a wage or by some craft or sales business without any bank deposits.
Currencies do work because anyone in the local environment will accept it instantly and tomorrow its purchase power will not deviate more than 1%. Otherwise alternative currency will be adopted by black market, like USD in Cambodia or in Russia in 90th or Indian Rupee in Nepal. It is all about liquidity and money velocity, as they call it.
Bitcoin is not a currency, it is a technology, a service and now a commodity for speculators which is crashing right now.
- jonursenbach 13y ago"Bitcoin is not a currency, it is a technology[...]" Truer words have never been said on HN.
- Guvante 13y agoI don't think you actually disagree with the OP. He is saying there are inherent problems with BTC that need to be fixed, you are saying soon those problems will be solved (not necessarily with BTC). He just chose a catchy headline to gain attention.
- laichzeit0 13y ago>Bitcoin is not a currency, it is a technology, a service and now a commodity for speculators which is crashing right now. Agree on that it is not a currency (the word "currency" doesn't even appear on the Bitcoin client's website). However, please explain why you say it is "crashing"? 3 months ago the price was $130 on average. It's around $500 today. How is that a crash?