I dream of a day where useless fiat is burned to create electricity for bitcoin

jones31

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Quote from: hilariousandco on December 13, 2013, 08:18:52 AM

Quote from: jones31 on December 12, 2013, 05:46:42 PM

So , I should start carrying paper wallets in my wallet ?
Because right now , if I'm out of cash , I have my cc , if that fails I have my id and can withdraw from a bank (if it's still open).
If my phone battery is dead , how I'm going to pay with bitcoins?

We need to start thinking of the infrastructure before tearing the old building down.

We're a long way off yet, but there are many solutions and different ways to spend Bitcoins, and I'm sure they'll be many more created.

That's what I'm saying , don't demolish your old house without even buying a damn tent , not talking about hotel reservation.

Melbustus

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Most of the fiat money supply (M2) is virtual. Very little is paper cash. I think M2 (in the US) is something like $11T whereas physical cash accounts for about $800B. So can't really burn fiat either.

hilariousandco

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Quote from: jones31 on December 12, 2013, 05:46:42 PM

So , I should start carrying paper wallets in my wallet ?
Because right now , if I'm out of cash , I have my cc , if that fails I have my id and can withdraw from a bank (if it's still open).
If my phone battery is dead , how I'm going to pay with bitcoins?

We need to start thinking of the infrastructure before tearing the old building down.

We're a long way off yet, but there are many solutions and different ways to spend Bitcoins, and I'm sure they'll be many more created.

jones31

newbie

Activity: 28

Merit: 0

So , I should start carrying paper wallets in my wallet ?
Because right now , if I'm out of cash , I have my cc , if that fails I have my id and can withdraw from a bank (if it's still open).
If my phone battery is dead , how I'm going to pay with bitcoins?

We need to start thinking of the infrastructure before tearing the old building down.

Dr Bloggood

sr. member

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Merit: 250

Ha ha ha, nice vision there!

hilariousandco

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Quote from: Desensitizer on December 12, 2013, 11:37:58 AM

I pray that day never comes. Don't get me wrong, I am a strong supporter of bitcoin, but having only one digital currency would be a very bad thing. The global economy thrives on having a multitude of currencys available at any given point in time. A single currency dominating the exchange would end up being a very bad thing. That is unless dollars/euros/etc go digital.

There doesn't have to be just one cryptocurrency for the world; there could be several. They could also coexist alongside fiat ones.

jbreher

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lose: unfind ... loose: untight

Quote from: Desensitizer on December 12, 2013, 11:37:58 AM

... having only one digital currency would be a very bad thing. The global economy thrives on having a multitude of currencys available at any given point in time. A single currency dominating the exchange would end up being a very bad thing.

Can you explain why you believe this to be the case?

Desensitizer

newbie

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I pray that day never comes. Don't get me wrong, I am a strong supporter of bitcoin, but having only one digital currency would be a very bad thing. The global economy thrives on having a multitude of currencys available at any given point in time. A single currency dominating the exchange would end up being a very bad thing. That is unless dollars/euros/etc go digital.

SlipperySlope

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Stephen Reed

A transient post on Reddit r/bitcoin consisted only of this prophesy.

Quote

I dream of a day where useless fiat is burned to create electricity for bitcoin

Envision a possible world in which the legacy archaic financial infrastructure has been swept aside. In such a world fiat would be worth only the paper it is printed on.

This is a call for disruptive innovative action.

Topic: I dream of a day where useless fiat is burned to create electricity for bitcoin (Read 860 times)