Bitcoin: The Future of Currency?

[zolace]

http://www.youtube.com/watch?v=wJHk7QzSqn4&feature=youtube_gdata&utm_source=twitterfeed&utm_medium=twitter

[DooMAD]

Watched the whole thing.  It's certainly an in-depth discussion, but I can't foresee too many people spending an hour and a half of their time on it.  If I had to boil it all down to a single sentence, it would be:  We're ahead of the curve, no one knows what to do with us yet and it's going to be interesting.

[bytemaster]

The future of currency is not shares in decentralized companies such as Bitcoin, but instead in assets issued by these companies that have the price stability of the dollar, gold, or silver. 

[twiifm]

Bland discussion.   Not many new insights.   Chris Brummer,  the law professor brought up interesting questions about regulations.   But I wished he went more in depth.  Jason Healey,  the cyber security guy,  had some good skepticism grounded in current reality

Ronald Marks,  the exCIA.   Dont know what his point is?   Hes a goldbug?   Thinks BTC is 21st Century gold?   He wants to get political but doesnt really go there.   The miner kid is out of league.  Lacks understanding of economics.  Don't know why they let him talk so much

They were all very polite.   Could have been more aggressive in their arguments.

[leopard2]

The future of currency is not shares in decentralized companies such as Bitcoin, but instead in assets issued by these companies that have the price stability of the dollar, gold, or silver. 

No.

Currency is not money, so it can be volatile, for payment application it is no problem. You probably mean for store of value and stability vs. fiat, tying a currency to an asset would help? Only in theory.

You see, company xyz would simply be taken down by the government assholes whenever they want, and the connected currency would vanish. Google the liberty dollar or E-Gold for more info.

I can't think of any method of having a real asset connected and be decentralized at the same time, let us know if you have an idea...

[waldox]

yes bitcoin is the future global reserve currency

[pungopete468]

If Bitcoin ever becomes the Global Reserve currency then I will cut and run far from it.

Unless the mining has been decentralized and anonymity becomes integral to the protocol it will be a potential tool to be used for oppression and fear.

You see; for the World Governments to adopt Bitcoin as a Reserve Currency would give those governments the power to track all financial transactions. That can never be a good thing...

I have a feeling that Bitcoin is intended to be used as a World Reserve currency. I think the allure of tracking every financial movement is irresistible.

To have a safe balance the currency must be both anonymous and decentralized. I'm talking about more than the source-code; ASICS damaged the distribution of mining power severely in this regard.


Anonymity is protection for the individual, decentralization is protection for the network. Technology can be used to enhance individual liberty or it can be used as a weapon for oppression. Bitcoin in its current iteration would be used as a weapon for oppression. Unless the transactions can be obfuscated and the mining network redistributed.

[Bit_Happy]

Watched the whole thing.  It's certainly an in-depth discussion, but I can't foresee too many people spending an hour and a half of their time on it.  If I had to boil it all down to a single sentence, it would be:  We're ahead of the curve, no one knows what to do with us yet and it's going to be interesting.

Ahead of the curve is a great place to be. 

[laflaflaf]

Very pleased to see this article

[roslinpl]

http://www.youtube.com/watch?v=wJHk7QzSqn4&feature=youtube_gdata&utm_source=twitterfeed&utm_medium=twitter

This young guy in the middle is talking very good.
He explains how does it looks you can see he knows a lot about bitcoin and he know how to explain it to people.

[bryant.coleman]

If Bitcoin ever becomes the Global Reserve currency then I will cut and run far from it.

It will never become the global reserve currency. But definitely, it will become one of the payment mediums. That will make it a definite rival to Paypal / Western Union.etc 

[Bit_Happy]

If Bitcoin ever becomes the Global Reserve currency then I will cut and run far from it.

It will never become the global reserve currency. But definitely, it will become one of the payment mediums. That will make it a definite rival to Paypal / Western Union.etc 

Bitcoin will also be widely used as a hedge against inflation.
The next 5 to 10 years will be really exciting. 

[bytemaster]

The future of currency is not shares in decentralized companies such as Bitcoin, but instead in assets issued by these companies that have the price stability of the dollar, gold, or silver. 

No.

Currency is not money, so it can be volatile, for payment application it is no problem. You probably mean for store of value and stability vs. fiat, tying a currency to an asset would help? Only in theory.

You see, company xyz would simply be taken down by the government assholes whenever they want, and the connected currency would vanish. Google the liberty dollar or E-Gold for more info.

I can't think of any method of having a real asset connected and be decentralized at the same time, let us know if you have an idea...

I said decentralized companies (Bitcoin is a decentralized company).

[BitOnyx]

Definitely it is first step towards future.

I wonder what would be next steps. Recently I read article about jobs that aren't even existing right now.

[fometeo]

let me tell you the first time I eared about Bitcoin I though it had no money relationship, it was a surprise then to learn one could use it as an exchange currency system, and it had even a variable exchange value. what I expected was it to be a system to manage LETsystem's or green dollars, or any action payments without money. I still search for a system like that, connected to municipal social services, or other democratic institution, who would make a mural with things to do, and the points one would earn for it.

[MUFC]

Of course its the future. Watching vid now but its long lol.

[bgmc]

I talked with a programmer at Google about bitcoin, and his take is that technology advances so quickly, that before bitcoin becomes readily adopted, there will be a much more advanced coin that will be more suitable for the times. That got me thinking, but in the meantime, we still have bitcoin and it has a lot of potential to become mainstream.

[zolace]

I talked with a programmer at Google about bitcoin, and his take is that technology advances so quickly, that before bitcoin becomes readily adopted, there will be a much more advanced coin that will be more suitable for the times. That got me thinking, but in the meantime, we still have bitcoin and it has a lot of potential to become mainstream.

Yes its already set in the mainstream motion, everyday we hear new Orgs and Bus accepting them

[WizRomanov]

It's difficult for any cryptocurrency to gain reserve status since technology is constantly changing and what seems to be cutting-edge now can become obsolete the next minute.


IE. Bitcoin is about to be replaced by 2nd gen coin.

[Bit_Happy]

I talked with a programmer at Google about bitcoin, and his take is that technology advances so quickly, that before bitcoin becomes readily adopted, there will be a much more advanced coin that will be more suitable for the times. That got me thinking, but in the meantime, we still have bitcoin and it has a lot of potential to become mainstream.

OH Noooooooooo!
Maybe is was hinting about GoogleCoin.



Bitcoin need to work hard to stay ahaed.