It wouldn't make sense for bitcoin to kill fiat currency since it is entirely backed by fiat currency.
Face it, if you couldn't exchange bitcoins for dollars, not one single person would bother with them. Just go to any thread where someone is scamming/selling something. Everything is translated in US dollar value.
This is only partly true. I personally would enjoy taking USD out of the equation.
I would accept
only bitcoin, period.
But you can't. Price something in bitcoin without looking at the exchange rate to dollars. (You can do it off the top of your head but lets say in 18 months)
Bitcoin just started the wrong way. If it were used for example trading pictures you made, or something else easily produced by everybody instead of buying somebody a pizza it would have turned out very differently. This is a social issue not a economical or technical one.
I can and I do. Even in currencies that you would not think. But what is the history of money?
This is a social issue not a economical or technical one.
You are right, and in most every social issue there are leaders and followers. How did those funny little pieces of paper with their pyramids and such get to be in our hands? Someone simply
decided it to be that way. What is the history of the paper money we use today?
http://www.youtube.com/watch?v=9LaSrxtWfgcHow did gold start out as a money?
All you have to do is to decide to use bitcoin as money, and boom,
it is money. If you convince everyone you deal with to use it, job is complete.
For world domination to take effect, it takes
15 to 18 percent adoption:
http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.htmlWe all sit at various places at various times on this scale, but what the law of diffusion of innovation tells us is that if you want mass-market success or mass-market acceptance of an idea, you cannot have it until you achieve this tipping point between 15 and 18 percent market penetration, and then the system tips.
And I love asking businesses, "What's your conversion on new business?" And they love to tell you, "Oh, it's about 10 percent," proudly. Well, you can trip over 10 percent of the customers. We all have about 10 percent who just "get it." That's how we describe them, right? That's like that gut feeling, "Oh, they just get it."
The problem is: How do you find the ones that get it before you're doing business with them versus the ones who don't get it? So it's this here, this little gap that you have to close, as Jeffrey Moore calls it, "Crossing the Chasm" -- because, you see, the early majority will not try something until someone else has tried it first.
And these guys, the innovators and the early adopters, they're comfortable making those gut decisions. They're more comfortable making those intuitive decisions that are driven by what they believe about the world and not just what product is available.
How many here are in the "innovators and early adopters" group? If that is you, you will have a bright future, in my opinion. But there will be a fight to get there.
