5 ms·

Transportation was a solved problem when horse carriages were invented. Every solved problem can be solved even better. Isn't that what most startups are about?

by u124556 12y ago

danbruc 12y ago
Of course and that is why I ask how Bitcoin improves over the current situation in a way relevant to average people.
- mbesto 12y ago
  It will cost less to transport money and align the exchange amount of currencies with real market value.
  - jbooth 12y ago
    Wha?? How is something that flips up and down by several hundred percent over a given quarter-year going to 'align the exchange amount of currencies with real market value'? What does that even mean? Like the billion-dollar currency trading industry isn't doing that already, we need one more currency to get it just right?
    - drcross 12y ago
      As the pool of liquidity increases the price volatility decreases. When you compare the early charts to now there are smaller RELATIVE price swings.
      - danbruc 12y ago
        But that is a chicken egg problem - with large price fluctuations no mass adoption, without mass adoption large price fluctuations. And except in comparison to the very early days (2011 and before) the price fluctuations did not get smaller over time.
    - mbesto 12y ago
      You're describing how BTC looks today. The vision is that if liquidity is high (billions of transactions a day), then BTC could in theory replace all mediums of exchange between currencies. Today, for example, the dollar can be hedged because the price of oil, and vice versa. So we don't always get a true value of the dollar. (it's way more complicated than that, just trying to simplify) Additionally, using BTC massive lowers the barrier to exchange money (i.e. you don't need a bank). Banks make a lot of money (ever seen a "transaction fee"?) by simply moving money around.
- baddox 12y ago
  Why the obsession with "the average person"? Remember, that average changes over time. The automobile didn't improve the situation for the average person within the first decade of its invention.

Transportation was a solved problem when horse carriages were invented. Every solved problem can be solved even better. Isn't that what most startups are about?

by u124556 12y ago

Transportation was a solved problem when horse carriages were invented. Every solved problem can be solved even better. Isn't that what most startups are about?

danbruc 12y ago

Of course and that is why I ask how Bitcoin improves over the current situation in a way relevant to average people.

mbesto 12y ago
It will cost less to transport money and align the exchange amount of currencies with real market value.
- jbooth 12y ago
  Wha?? How is something that flips up and down by several hundred percent over a given quarter-year going to 'align the exchange amount of currencies with real market value'? What does that even mean? Like the billion-dollar currency trading industry isn't doing that already, we need one more currency to get it just right?
  - drcross 12y ago
    As the pool of liquidity increases the price volatility decreases. When you compare the early charts to now there are smaller RELATIVE price swings.
    - danbruc 12y ago
      But that is a chicken egg problem - with large price fluctuations no mass adoption, without mass adoption large price fluctuations. And except in comparison to the very early days (2011 and before) the price fluctuations did not get smaller over time.
  - mbesto 12y ago
    You're describing how BTC looks today. The vision is that if liquidity is high (billions of transactions a day), then BTC could in theory replace all mediums of exchange between currencies. Today, for example, the dollar can be hedged because the price of oil, and vice versa. So we don't always get a true value of the dollar. (it's way more complicated than that, just trying to simplify) Additionally, using BTC massive lowers the barrier to exchange money (i.e. you don't need a bank). Banks make a lot of money (ever seen a "transaction fee"?) by simply moving money around.
baddox 12y ago
Why the obsession with "the average person"? Remember, that average changes over time. The automobile didn't improve the situation for the average person within the first decade of its invention.