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Title: [2016-01-22] Bitcoin: Too big to fail :-P Post by: LiteCoinGuy on January 22, 2016, 03:58:34 PM Bitcoin: Too big to fail
The death of bitcoin has been proclaimed once again. Prominent developer Mike Hearn’s recent comments that the bitcoin experiment was over mark the 89th time the digital currency has been pronounced dead since it first launched in 2009, at least according to one website dedicated to tracking bitcoin obituaries. While it's sad to see a talented programmer like Hearn turn his back on bitcoin, there are still thousands of people working on making the world’s first digital currency a success. http://europe.newsweek.com/bitcoin-too-big-fail-418481 Title: Re: [2016-01-22] Bitcoin: Too big to fail :-P Post by: BellaBitBit on January 22, 2016, 05:07:39 PM Bitcoin: Too big to fail The death of bitcoin has been proclaimed once again. Prominent developer Mike Hearn’s recent comments that the bitcoin experiment was over mark the 89th time the digital currency has been pronounced dead since it first launched in 2009, at least according to one website dedicated to tracking bitcoin obituaries. While it's sad to see a talented programmer like Hearn turn his back on bitcoin, there are still thousands of people working on making the world’s first digital currency a success. http://europe.newsweek.com/bitcoin-too-big-fail-418481 Newsweek just said "world's first digital currency". yes! Title: Re: [2016-01-22] Bitcoin: Too big to fail :-P Post by: aso118 on January 23, 2016, 03:43:03 AM Too big to fail usually indicates that the government will step in to save a bank/company, if there are signs that it could fail.
That definitely is not the case with Bitcoin. :P Title: Re: [2016-01-22] Bitcoin: Too big to fail :-P Post by: foggyb on January 23, 2016, 04:12:30 AM We shall add a new definition to the phrase "too big to fail":
1. A financial institution that is so important to tyrants that it will receive endless bailouts. 2. Any new idea with the potential to destroy tyrants. Title: Re: [2016-01-22] Bitcoin: Too big to fail :-P Post by: mtnsaa on January 23, 2016, 04:16:31 AM Too big to fail usually indicates that the government will step in to save a bank/company, if there are signs that it could fail. That definitely is not the case with Bitcoin. :P Exactly, quite the contrary, I'm sure many governments and companies would like to see Bitcoin fail so this doesn't apply here. Either way, the main concept is understandable, there's too much money involved for Bitcoin to fail, but that means right now, this won't be forever. So Bitcoin must start to generate some actual demand, in today's world no common person actually needs Bitcoin (they can buy anything instantly with CCs and Paypal) and that's the real problem it could face in the near future. |