what would happen to bitcoin if...

[BitMagic]

my main thoughts were would it survive and thrive? or die out because the speculation market is gone.

Some of us are here to get away from the control that comes with fiat. I would go so far as to assume that some of the more hardcore Bitcoin proponents feel this way. If someone managed to control Bitcoin (which I see as unlikely at this point), many of those hardcore proponents would be gone the next day.

You do realize that the "control scheme" you're so worried about is actually completely automated in Bitcoin, and the very reason why gold is no longer used as a currency: unmanaged money supply will never be stable, and instability makes for unusable currency.

[1715594935]

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[dsp]

It's been a while since I coded anything, let me take a whack

Code:

Load "*",8,1
5 Let a = 0
6 a=a+1
10 Print HELLO
20 Print How much are Bitcoins?
Rem 30 Input 8-8
40 Print Bitcoins are a$ 4,4
50 Goto 6

It may need a few tweaks.


It's hard to answer your question though (as what would happen) because I'm not even sure -how- that would happen, which would alter things, on top of getting enough clients to switch over to the fiat-pinned version.

[cbeast]

Bitcoin can certainly not be marketed as a brand, for there is no profitability in doing so.

but bitcoin.com can be, along with many other bitcoin-related brands that will surely turn a profit.

Possibly. I am optimistic about bitcoin, but I'm not sure that the public will wake up and start using the smart idea anytime soon. We're still using fossil fuel, Windows, and trickle-down economics. Bitcoin has a place as a global niche currency for sure, but it's going to be as hard to sell to Americans as the Metric System.

[payb.tc]

it's going to be as hard to sell to Americans as the Metric System.

funny you word it like that, given Americans make up the bulk of the current bitcoin community.

[Bigpiggy01]

in the second example, china made it totally illegal to trade at a different rate, and i for one wouldn't want to get caught doing anything illegal in china.

I live here and even have bankers refer me to black market brokers who actually operate within the bank In China things are only illegal of you get caught when someone is having a bad day

[Minsc]

In China things are only illegal of you get caught when someone is having a bad day

[Jixtreme]

but it's going to be as hard to sell to Americans as the Metric System.

LOL.

Two types of Americans will cling to USD: 1) political/government types who will equate Bitcoin to domestic terrorism. 2) Idiots who fall for the crap that political/government types say.

Unfortunately, that makes up about 80% of our populace or more.

I prefer the metic system, BTW, but I'm a Physics grad, so I suppose that's not too much of a stretch.

[Vandroiy]

Some of us are here to get away from the control that comes with fiat. I would go so far as to assume that some of the more hardcore Bitcoin proponents feel this way. If someone managed to control Bitcoin (which I see as unlikely at this point), many of those hardcore proponents would be gone the next day.

This. Bitcoin controlled by US money supply, directly linked to the Dollar? We already have that, it's called name your bank / Dwolla / PayPal / asdf.

That is not Bitcoin. It functions only through banks, needs no p2p network whatsoever, where's the point?