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That's true whilst it is treated as effectively a foreign currency. It may start to become irrelevant if bitcoin spreads and is generally held and used as a cur
by markburns 12y ago
That's true whilst it is treated as effectively a foreign currency. It may start to become irrelevant if bitcoin spreads and is generally held and used as a currency for earning income in, paying for labour/goods/services etc.
- maxerickson 12y agoSure, but I don't see how bitcoin becomes a very widespread payment mechanism without first being the best option for many transactions.
- markburns 12y agoYeah it's an obvious bootstrapping/critical mass problem. It will be interesting watching to see if it does cross that line. If the usability is never there I can imagine it never quite taking off, and something slightly better/more usable/with the right timing winning out. But you could have said the same thing about email/the web in the past. A global communication network and protocol without anyone using it is pointless. The same for a global value transfer protocol. It seems obvious _a_ protocol, probably blockchain based, will gain mass adoption eventually.