Most people are used to being robbed slowly via FIAT rather than have a currency that overall goes up in value but is volatile. Being robbed slowly is preferable. The average Jo has a mortgage so enjoys the fiat system where it goes down in value and therefore so doe his debt in real terms.
This, and the fact that you are 100% responsible for the security of your money (i.e. you are the bank).
So for large quantities of money you'd need to get a boot cd, make sure your bios hasn't been infected, run the boot cd, run the wallet software, roll some dice to generate the private key, etc. ad nauseum. Would your granny do it? I wouldn't do it and I am a geek!
I am pro bitcoin and I want it to succeed but there are practical issues for the everyday dude to use it 'for real' and not just for fun.
Topic: Cryptocurrency does to money what the torrents did for information (Read 729 times)
March 27, 2014, 01:33:44 PM
good analogy and I agree.
Cryptos are a poor place to park cash because they are filled with seedy types who only desire profit rather than a stable currency. They'd rather it shoot up to $10k per coin, crash back down so they can trade it like a stock. It's a commodity, not a currency. Personal property is about right.
Cryptos are a poor place to park cash because they are filled with seedy types who only desire profit rather than a stable currency. They'd rather it shoot up to $10k per coin, crash back down so they can trade it like a stock. It's a commodity, not a currency. Personal property is about right.
March 27, 2014, 01:22:28 PM
Our world is moving from a centralized structure to decentralization. First is information, then finance and economics. Politics will be more decentralized in the future. It's a beautiful evolution i think 
March 27, 2014, 01:16:22 PM
Fill it with viruses, land a bunch of "anonymous" people in court, and be used by a minority of people because the legitimate option is so much more convenient for a majority of the populace that it's worth the fees.
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