Bitcoin - is this the end?

[The Dharma Bum]

[The Dharma Bum]

[uebermann]

Digital currency. I don't ever see this being a standard. At least not until hacking it and creating it out of thin air isn't possible any more.

[exploited]

It won't be the standard for at least 30 years, if not more. Dharma is correct to say that it will inevitably be the standard, but his timeline is way off, IMO.

[uebermann]

[exploited]

[The Dharma Bum]

[exploited]

Didn't you claim it would be five years before? Now it is 15. You are enthusiastic about the technology. Certainly you know more about it than most. But I think that all of us can agree that you are overly optimistic about it. The technology for cellphones existed for forty years before it became mainstream - and it didn't face any competition to start, because there was no market. The marketplace for currency is much more difficult to go up against.

30 years, minimum.

[Hyperion]

Many stores in Denton and Austin adopted BitCoin as a secondary source of revenue after it took root in San Francisco; I'm not into the speculation game. I joined when BitCoin sat at around $100/Coin and made modest return when it hit $900-$1,000, but I withdrew a significant amount of money because I had no aspirations for becoming a plutocrat overnight. Yes, I'm part of a growing body of people that use the currency for mostly legitimate purposes, but I don't fault those who enjoy traversing the black net. Most of Tor commerce is drugs and adult prostitution - two industries that don't bother me in the least. I think Silk Road should be a legitimate business, but everyone knows my beliefs about the War on Drugs. But I'm more interested in its applications as a security against corporate oversight and traditional banking. I'm ideologically opposed from assisting those institutions. The current problem is lack of accessibility. Ideology doesn't drive results.

[Winchester]