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Author Topic: 2013-10-27 USA Today - Wolff: How CEOs are clueless about technology  (Read 889 times)
edd
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October 28, 2013, 03:54:04 PM
 #1

http://www.usatoday.com/story/money/columnist/wolff/2013/10/27/ceos-are-often-clueless-about-technology/3182203/

Not about Bitcoin, per se, but I believe this article demonstrates why Bitcoin isn't used more often as a currency: those who aren't as tech oriented as we are just don't get it.

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Here's a story recently related to me by a guest at a White House dinner, which included Google's Eric Schmidt: The president, whose most important job is surely to protect the integrity of the monetary system, smugly asked Schmidt if Bitcoin, one of many growing challenges to currency hegemony, was anything he had to worry about.

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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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October 28, 2013, 04:07:41 PM
 #2

Not about Bitcoin, per se, but I believe this article demonstrates why Bitcoin isn't used more often as a currency: those who aren't as tech oriented as we are just don't get it.

Don't worry, they will. Due to Bitcoin's unprecedented nature, this is really the market with SLOOOOOW information dissipation. Which creates very real opportunities for technology-literate to move much higher up the wealth ladder than it would be possible otherwise. Enjoy it while it lasts - by the time everyone finally "gets it", Bitcoin's value transfer potential will be gone, even if other aspects of this amazing technology will still be there.

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October 28, 2013, 04:20:20 PM
 #3

We've seen this movie before: email, www, etc.

Often even the major players that should, just don't 'get it'. Microsoft had to fight hard (and dirty) to make IE relevant when they finally realized the WWW and HTML wasn't just some fad.

                         
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October 28, 2013, 06:13:16 PM
 #4

Quote
... Here's a story recently related to me by a guest at a White House dinner, which included Google's Eric Schmidt: The president, whose most important job is surely to protect the integrity of the monetary system, smugly asked Schmidt if Bitcoin, one of many growing challenges to currency hegemony, was anything he had to worry about. ...

This part is very relevant to Bitcoin.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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October 28, 2013, 07:43:13 PM
 #5

Quote
... Here's a story recently related to me by a guest at a White House dinner, which included Google's Eric Schmidt: The president, whose most important job is surely to protect the integrity of the monetary system, smugly asked Schmidt if Bitcoin, one of many growing challenges to currency hegemony, was anything he had to worry about. ...

So, Obama has been informed about Bitcoin, but obviously he is still on the "laughing at" stage of Bitcoin learning curve. Let's wait and see how fast he will be progressing...

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October 28, 2013, 09:35:12 PM
 #6

Quote
... Here's a story recently related to me by a guest at a White House dinner, which included Google's Eric Schmidt: The president, whose most important job is surely to protect the integrity of the monetary system, smugly asked Schmidt if Bitcoin, one of many growing challenges to currency hegemony, was anything he had to worry about. ...

So, Obama has been informed about Bitcoin, but obviously he is still on the "laughing at" stage of Bitcoin learning curve. Let's wait and see how fast he will be progressing...

I don't know. If true, this wasn't a snide comment to a reporter, this was a question asked of Eric Scmidt. I'm very curious about who introduced the topic and in what context.

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October 29, 2013, 04:29:26 PM
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I don't know. If true, this wasn't a snide comment to a reporter, this was a question asked of Eric Scmidt. I'm very curious about who introduced the topic and in what context.

The only thing that's missing in the article is the answer by Eric Schmidt...but the point is: Obama is thinking about bitcoin, probably who introduced it to him was the daily intsums or whatever they're called he gets from the agencies, probably from the FIB because of that whole Silk Road thing.

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October 29, 2013, 08:09:54 PM
 #8

... Here's a story recently related to me by a guest at a White House dinner, which included Google's Eric Schmidt: The president, whose most important job is surely to protect the integrity of the monetary system, smugly asked Schmidt if Bitcoin, one of many growing challenges to currency hegemony, was anything he had to worry about. ...

Obama's as lame duck of a president as any of them at this point.

he's waiting on the day he gets to leave the office and collect his fat president's pension plan and get paid big bucks for speeches

WINGS - get paid to forecast ICO valuations http://experimental.wings.ai - over $5 million in new token and Ether pay outs already
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October 29, 2013, 10:27:40 PM
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Well he's certainly a duck like most presidents, in that he can do absolutely anything and no charges would even be stuck to him.

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