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I would tend to agree with the author here. I can't see Bitcoin ever emerging as something legal and useful to the average person. >Bitcoin enthusiasts disagre
by borgia 12y ago
I would tend to agree with the author here. I can't see Bitcoin ever emerging as something legal and useful to the average person.
>Bitcoin enthusiasts disagree, claiming illicit activity is practically non-existent. Instead, they preach decentralization, trustlessness and smart contracts - none of which are benefits but merely features.
Bitcoin enthusiasts preach an awful lot of things, particularly preaching about how others should adopt Bitcoin as a currency while they themselves sit on their stacks of it hoping to see its price rise and cash in.
Indeed, it is these Bitcoin "enthusiasts", or more accurately lay speculators, that are likely one of Bitcoin's largest issue. They've turned what was designed to be a currency into an investment/speculation instrument and it's not transcending beyond that because of it, with the exception of people using it for illegal purposes.
So you've two sides to Bitcoin in reality - speculators praying other people adopt it as a currency and those using it for nefarious purposes - both of which are off-putting to any normal person who'd consider using Bitcoin for purchases.
I see no real future for Bitcoin personally. Gambling, perhaps, but even Bitcoin poker at the moment is mainly already skilled, dedicated players using Bitcoin Poker to play since they can't in the US, and that's not going to attract many casual players in itself to create a sustainable ecosystem, nevermind the Bitcoin barriers to getting on to the site in the first place.
- SCAQTony 12y agoIf every Satoshi could be tracked along the blockchain for tax purposes I suspect the technology would become the de facto standard currency in the US and especially France. ;-)
- malka 12y agoI agree with you. I don't think Bitcoin will ever be mainstream. However, the features it has should be a huge source of inspiration for the banking system imo.
- Goronmon 12y agoSo you've two sides to Bitcoin in reality - speculators praying other people adopt it as a currency and those using it for nefarious purposes - both of which are off-putting to any normal person who'd consider using Bitcoin for purchases. Don't forget the anarchists.