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Title: Bitcoin currency wars like Rock, Paper, Scissors Post by: cbeast on December 17, 2013, 04:04:54 PM Bitcoin is a:
1. Financial Protocol - like HTTP, Bitcoin is a language that allows exotic financial transactions 2. Store of Wealth - like a commodity, Bitcoin can be bought and sold with its value determined by scarcity 3. Currency - Bitcoin is fungible and can be exchanged for goods and services. In its infancy early adopter stage, Bitcoin is like an ugly little tween. It's no longer a child, and has barely begun puberty. Nation states can't see what Bitcoin will look like when it is full grown. They see it as one or two of the above functions, but not the potential as all three come to maturity. Remember that kid in Junior High that everyone picked on? Many of you are probably working for him now. |