Topic: Is Bitcoin really any different? Not in the long run. - page 2. (Read 6708 times)
it will one day if gor don stop it
What if other countries began adopting their own crypto, IE PeruCoin, ArgentinaCoin, Canadacoin, The USAGODDAMNICANTPRINTTHISCOININFINITE. Considering bitcoin is traded for paper, and a concern of mine, if the US govt wanted a cryptocoin, why would it not create it, buy it up with them printable dollars, making it worth FAR more than bitcoin currently is. Instead of 2billion market cap in 3.5 years, they get to 100billion marketcap in 1 day.
Making 1 satoshi or bernanke worth ~1 US dollar.
Making 1 satoshi or bernanke worth ~1 US dollar.
the most important thing is annomy and unreverse
Bitcoin :
Bitcoin is decentralized.
No or little fees.
Every one can create "free" bitcoins by mining.
Limited (21 Millions)
Dollar :
Centralized.
High fees.
Only bank can create dollar.
No limits (They can print all the money they want)
And for the other crypto. Yeah the concept of bitcoin is unlimited but bitcoin is limited. The concept of dollar is unlimited too. BUT dollar is unlimited.
Bitcoin is decentralized.
No or little fees.
Every one can create "free" bitcoins by mining.
Limited (21 Millions)
Dollar :
Centralized.
High fees.
Only bank can create dollar.
No limits (They can print all the money they want)
And for the other crypto. Yeah the concept of bitcoin is unlimited but bitcoin is limited. The concept of dollar is unlimited too. BUT dollar is unlimited.
These are good points. Op, you have posted this thread although this question has been asked before and answered before. It's no where near the same as FIAT.
I recommend you to read a little more about bitcoin, you will find it completely different 
Bitcoin is 100% different. Just because someone could make Shitcoin doesn't make Bitcoin any worse.
If they print more euro's the amount of dollars isn't increasing.
So more cryptocurrencies doesn't mean more bitcoins, I can't send my Litecoins to my Bitcoin wallet.
So more cryptocurrencies doesn't mean more bitcoins, I can't send my Litecoins to my Bitcoin wallet.
If you make randomultracoin, can you send those to Bitcoin addresses? Will they appear on other Bitcoin wallets?
(Hint: no)
But those freshly printed dollars are like all other dollars and can be used as such.
(Hint: no)
But those freshly printed dollars are like all other dollars and can be used as such.
Bitcoin :
Bitcoin is decentralized.
No or little fees.
Every one can create "free" bitcoins by mining.
Limited (21 Millions)
Dollar :
Centralized.
High fees.
Only bank can create dollar.
No limits (They can print all the money they want)
And for the other crypto. Yeah the concept of bitcoin is unlimited but bitcoin is limited. The concept of dollar is unlimited too. BUT dollar is unlimited.
Bitcoin is decentralized.
No or little fees.
Every one can create "free" bitcoins by mining.
Limited (21 Millions)
Dollar :
Centralized.
High fees.
Only bank can create dollar.
No limits (They can print all the money they want)
And for the other crypto. Yeah the concept of bitcoin is unlimited but bitcoin is limited. The concept of dollar is unlimited too. BUT dollar is unlimited.
Consider the dollar.
The dollar is theoretically limited within the subset of United States currency while the concept of national currency itself is only limited by the number of nations on Earth.
Now to bitcoin.
Like the dollar the bitcoins are theoretically limited in supply. But what if bytecoin comes along, then gigacoin, followed by googlecoin and so fourth? There seems to be no limit on the number of bitcoin imitators possible.
While, like dollars, there might be a limited number of bitcoins within the subset of bitcoin, the concept of bitcoin is unlimited unlike the world’s various national currencies.
Competition will utterly devalue bitcoin unless it is adopted by particular nations to the exclusion of its competitors, however that is not to say that other nations will not adopt one or more of bitcoin’s competitors to the exclusion of bitcoin .. they most certainly would.
And how is that materially different from our current international system of free floating national currencies?
[Source: http://polifrogblog.blogspot.com/2013/08/is-bitcoin-really-any-different-not-in.html]
The dollar is theoretically limited within the subset of United States currency while the concept of national currency itself is only limited by the number of nations on Earth.
Now to bitcoin.
Like the dollar the bitcoins are theoretically limited in supply. But what if bytecoin comes along, then gigacoin, followed by googlecoin and so fourth? There seems to be no limit on the number of bitcoin imitators possible.
While, like dollars, there might be a limited number of bitcoins within the subset of bitcoin, the concept of bitcoin is unlimited unlike the world’s various national currencies.
Competition will utterly devalue bitcoin unless it is adopted by particular nations to the exclusion of its competitors, however that is not to say that other nations will not adopt one or more of bitcoin’s competitors to the exclusion of bitcoin .. they most certainly would.
And how is that materially different from our current international system of free floating national currencies?
[Source: http://polifrogblog.blogspot.com/2013/08/is-bitcoin-really-any-different-not-in.html]
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