equilibrium (even with fluctuation) is realistic.
there are somethings that the usd is better for and some things btc is better for. one will not kill off the other any time soon.
500 years from now? sure... gold might be the thing again by then, lol.
Agreed - but let me run this by you, it's been bugging me:
Digital currency - in the form of neutral, non-centralised and trustworthy value transfer systems make sense.
But whether BTC is Myspace and not Facebook, or AltaVista and not Google is a moot point.
Change will come, yes - but Bitcoin is a pioneer and something better could well take advantage of the doors it opens.
A network of P2P value exchange is obviously necessary, but BTC is just showing what is possible, and the coin value is much less relevant than the actual network value (which cannot be bought).
We actually cannot (yet) buy what the value of this idea is, anymore than you can buy shares in the internet. The real money is in the applications regular people can really use.
They are not there yet, they will be and this will 'make' bitcoin, but to be honest I am beginning to thing the price of a coin is really missing the point of what we are part of and I am seeking ways to invest in applications for this technology, not the coins which flow between the points of its' network.
Philosophical drivel maybe - but I do not here anyone here discussing this kind of 'future' when it seems patently obvious to me that we are not thinking what the applications riding on the network could actually do, and mean for the future. Not just the 'price' of a coin.
I think what you are highlighting there is the difference between creating wealth and extracting wealth....
http://www.theguardian.com/commentisfree/2013/dec/29/worlds-largest-economies-and-their-future(not about Bitcoin but interesting in light of both your point and the opportunities which BTC offers.)
A lot of the big investors (Li KaShing eg) have a similar philosophy.
If a Zimbabwean farmer wants to avoid the devalued 'trillion dollar note' to sell his wares, what if he can trade (via a cell phone) to transfer value cheaply and just GET PAID?
Is he interested in the price of Bitcoin, or what it can do for him? I don't think so.
7 billion people are NOT going to become Bitcoin speculators, but they might use BTC (or its successor) to transmit money, to trade universally and to create a whole new world system of value exchange.
This. Just this.Anyone who wants to discuss this would be welcome, as I think we might be all missing the point.
And this is why wall street is not 'in', because you cannot buy the idea, and the coins are ultimately
not what it's about.
It's the idea of freedom of exchange - it's so fucking radical..... and we are just playing with speculation, but this is a game-changer for the planet.
How many trillions of dollars traded per milli-second in HST data centres in NY State, but MAYBE the man on the street can escape and be free of the massive manipulation of his world.... by trading for his production directly with the buyer, without a middleman in a suit scalping him.
Revolution.
And 5 billion people want THIS. I worked in NYC for years, I know manipulation is all about .
Wall street is fucked if the network allows this and billions of tiny transactions will crush their 'master-of-the-universe' world.
I really think we are watching something special happen - but it isn't going to be what this forum is focusing on, it's going to be something completely different.
Mark my words / ignore me - but this is what I am thinking about. Not TA on next week's price.
I am interested in free-thinking start-ups with game changing plans for the 4.5 billion (plus) people who want to find a way out of corruption / exclusion and disenfranchisement the financial world is offering them now.
Pent up demand?
Yeah.
Poll
