Bitcoin is Doing for Money What Email Did for Snail Mail

[btcbible]

Bitcoin is a complex idea which is often explained in complex terms. Words such as “cryptographic algorithm” and “decentralized currency” are often used. The less common explanations actually address the function of Bitcoin; the fact that it is currently the fastest and cheapest way to transfer money directly to another party anywhere in the world.

Read More: http://btcbible.com/bitcoin-is-doing-what-email-did/

[Driice]

A very nice article btcbible. While I doubt bitcoins will ever replace cash, I believe that they will eventually weaken credit cards and the banking system.

[coinprize]

While I doubt bitcoins will ever replace cash, I believe that they will eventually weaken credit cards and the banking system.

Agree!

[btcbible]

A very nice article btcbible. While I doubt bitcoins will ever replace cash, I believe that they will eventually weaken credit cards and the banking system.

Thank you for the kind words!

[Varicon]

I can't wait to see Bitcoin's place in the world in even as short of a time as 3 years from now.

[btcton]

I really hope it does. Hope for the best.

[Abdussamad]

Email has a huge spam problem. I wonder whether bitcoin will also be weighed down by spam in the future. Maybe satoshidice is just the start. We'll have an avalanche of micro transactions that take the blockchain to terabytes in size.

[AliceWonder]

Email has a huge spam problem. I wonder whether bitcoin will also be weighed down by spam in the future. Maybe satoshidice is just the start. We'll have an avalanche of micro transactions that take the blockchain to terabytes in size.

I expect micropayments to become commonplace.

Right now with credit card processing, it isn't practical to run a service that thrives on micropayments.

Remember in the 80s when we use to put a quarter in the video game slot? Those were micropayments and people got rich off of them. But that's not practical on the web due to processing fees.

bitcoin solves the problem. I can pay 2 mBTC to read a news story or 5 mBTC to play a game or whatever and the .1 mBTC transaction fee doesn't hurt me.

[wopwop]

Who says we won't have 0 fee transactions in USD in the near future?

It's not like it's technically impossible

The only reason its not here yet is because it needs a solid infrastructure, which is being built right now, but takes time

[J603]

Who says we won't have 0 fee transactions in USD in the near future?

It's not like it's technically impossible

The only reason its not here yet is because it needs a solid infrastructure, which is being built right now, but takes time

Aren't there already 0 fee transactions? If you go paper wallet to paper wallet, there are no fees, correct?

[CurbsideProphet]

Who says we won't have 0 fee transactions in USD in the near future?

It's not like it's technically impossible

The only reason its not here yet is because it needs a solid infrastructure, which is being built right now, but takes time

Aren't there already 0 fee transactions? If you go paper wallet to paper wallet, there are no fees, correct?

Paper to paper is irrelevant, as long as it goes through the blockchain, you may need to pay a transaction fee.  If the transaction is small enough, you may not have to as miners may pick it up but it's always best to add a transaction fee if you want to ensure the transfer goes through.  Usually 0.0005 is enough.

[yayayo]

A really good comparison esp. for the non-techies out there.

Hoping it will become reality...


ya.ya.yo!