Can BitCoin change the world economy?

[shitowl]

So we were giving an assignment in school to write a paper about something. I chose to write about BitCoin because I had recently heard about it and found it intresting.

So my main question is, can Bitcoin infact change the the economy on a global scale or whatnot? And, if it can, how can it be so?

Another question is also; Do we really want it to change how we handle our money?

Any answer will be appriciated!

[Malawi]

Have you got any other papers you want us to write for you?

[olalonde]

If you want people to join the conversation, please ask a more specific question or start elaborating an answer by yourself to show you have done your homework and read a bit about Bitcoin.

[wopwop]

No, it can't

because bitcoin consumes power to run
this is it's death flaw. or atleast its upper limit

unless satoshi comes with a system that doesnt consume power , p2p currencies are done for

[spoc]

nobody knows - we all have to wait :-) If you think it will change the economy than buy bitcoins and if you don't than don;t touch them. but i guess since you are here - you are a beleever :-)

[wopwop]

a belieber

[brinebold]

No, it can't

because bitcoin consumes power to run
this is it's death flaw. or atleast its upper limit

unless satoshi comes with a system that doesnt consume power , p2p currencies are done for

Good thing the US Dollar and Euro don't consume electricity to produce, maintain, or transfer. Once block awards become infeasibly small and all the machines currently doing 'busywork' because there aren't enough transactions to process for useful work then BTC will be roughly as energy-efficient as any other virtual currency and several times more economically efficient than any physical currency.