Bitcoin is greater than its dollar value

MiningUnited

newbie

Activity: 28

Merit: 0

Quote

I agree, but one still has to wonder when and if another competing currency will overtake bitcoin.

If bitcoin was more consumer friendly (newbie friendly) its reach would be infinite.

It is my understanding that this is being addressed? Developers are making BitCoin more user friendly at a record pace it seems like. CoinBase, great place for the average Joe.

gollum

sr. member

Activity: 434

Merit: 250

In Hashrate We Trust!

Quote from: Stunna on May 05, 2013, 04:02:38 PM

I agree, but one still has to wonder when and if another competing currency will overtake bitcoin.

If bitcoin was more consumer friendly (newbie friendly) its reach would be infinite.

Any competing currency is actually good from a liberal point of view, since we believe in freedom and decentralization we should embrace competitors. Being afraid of competition would turn us into the same dinosaurs (centralization) we want to evolve from.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: gollum on May 05, 2013, 01:20:41 PM

Voting - using bitcoin to enable direct democracy with secure voting

I have a working model of this ready to be released in the next few weeks. Barring microtransactions will make this akin to a poll tax.

Stunna

legendary

Activity: 3192

Merit: 1279

Primedice.com, Stake.com

I agree, but one still has to wonder when and if another competing currency will overtake bitcoin.

If bitcoin was more consumer friendly (newbie friendly) its reach would be infinite.

virtualmaster

hero member

Activity: 504

Merit: 500

The bitcoins value cannot be measured with dollar but if yes it is surely above 1.000 $.

tuliplover

newbie

Activity: 26

Merit: 0

Quote from: gollum on May 05, 2013, 01:20:41 PM

Bitcoin and all possible applications of it is of much greater value to the world than its dollar value.
Its sad main stream media don't understand it and mostly focus on the speculative part of bitcoin.

Example of applications that noobs at Main-Stream-Media don't know about:
Messaging - using encryption and the bitcoin protocol to easily distribute messages. (BitMessage)
Digital contracts - using bitcoin to create contracts that cannot be double spent, much safer than paper contracts.
Exchange - creating a p2p bitcoin exchange with help of bitcoin itself or a modified bitcoin protocol
Voting - using bitcoin to enable direct democracy with secure voting
and so on... there are lot of applications that I am not aware, and that has nothing to do with the dollar value of bitcoin.

Bitcoin's dollar value may go to 1000$ or 1$ but its real value to humanity is infinite!

Damn, then when the "false value" reaches the "real value" (infinite), nobody will be able to buy a bitcoin, so it will disappear forever!
I'm sad now. Sad

odolvlobo

legendary

Activity: 4466

Merit: 3391

The bitcoin concept is a great idea but that doesn't mean that everything should go through the Bitcoin blockchain.

gollum

sr. member

Activity: 434

Merit: 250

In Hashrate We Trust!

Quote from: chmod755 on May 05, 2013, 01:27:51 PM

Quote from: gollum on May 05, 2013, 01:20:41 PM

Bitcoin's dollar value may go to 1000$ or 1$ but its real value to humanity is infinite!

What you're saying is very similar to the intrinsic value argument of some gold owners.

Of course it's useful to us, but that doesn't mean that it's useful to "humanity".

Im talking about using the bitcoin protocol for messaging, voting and trading.
Gold is a good way of storing wealth over long time but you cant use gold for encrypted messaging or secure voting...

chmod755

legendary

Activity: 1554

Merit: 1021

Quote from: gollum on May 05, 2013, 01:20:41 PM

Bitcoin's dollar value may go to 1000$ or 1$ but its real value to humanity is infinite!

What you're saying is very similar to the intrinsic value argument of some gold owners.

Of course it's useful to us, but that doesn't mean that it's useful to "humanity".

gollum

sr. member

Activity: 434

Merit: 250

In Hashrate We Trust!

Bitcoin and all possible applications of it is of much greater value to the world than its dollar value.
Its sad main stream media don't understand it and mostly focus on the speculative part of bitcoin.

Example of applications that noobs at Main-Stream-Media don't know about:
Messaging - using encryption and the bitcoin protocol to easily distribute messages. (BitMessage)
Digital contracts - using bitcoin to create contracts that cannot be double spent, much safer than paper contracts.
Exchange - creating a p2p bitcoin exchange with help of bitcoin itself or a modified bitcoin protocol
Voting - using bitcoin to enable direct democracy with secure voting
and so on... there are lot of applications that I am not aware, and that has nothing to do with the dollar value of bitcoin.

Bitcoin's dollar value may go to 1000$ or 1$ but its real value to humanity is infinite!

Topic: Bitcoin is greater than its dollar value (Read 1003 times)