“Guys this technology has the potential of including all the poor people in the favelas of Brazil into the banking system. When we regulate this with the Central Bank, we should not restrict it but promote it. Let’s not kill the goose that lays the golden eggs.”
http://cointelegraph.com/news/115056/how-3-central-banks-the-financial-elite-embraced-bitcoin-for-one-day?ref=2604&utm_source=twitter&utm_medium=twit&utm_campaign=alx
Topic: New essay seriously questions Bitcoin's future success - page 3. (Read 3265 times)
The essay is very clear and careful to value Bitcoin as sound money. It's obviously a lot easier to get a badge on here than do some comprehensive reading.
This is what happens when you remove the newbie jail that we have in place. These threads are very common in this section and in economics.
This is what happens when you remove the newbie jail that we have in place. These threads are very common in this section and in economics.
Any crypto created by a government is dependent on that government. When that government fail, so does the crypto. Bitcoin is created so it's not tied to any government and it will survive governmental failures. PayPal and Visa are not backed by any government. They are global payment systems. Bitcoin is like that and better.
What is it with these newbies & their first posts always being negative FUD?
Every single day I log in here to see wumming & FUD, what purpose does it serve?
If people think bitcoin has no future & aren't interested in investing in it then why are they here?
This is what happens when you remove the newbie jail that we have in place. These threads are very common in this section and in economics.Every single day I log in here to see wumming & FUD, what purpose does it serve?
If people think bitcoin has no future & aren't interested in investing in it then why are they here?
the article is saying governments can outcompete Bitcoin by creating their own cryptocurrencies. ...
That's what I got from it also. But why would I want controlled money that works in one place when I could have math based money that works everywhere? This is the same as businesses thinking they could create a digital money. Actually, what they are creating is just a frequent flier mile. A store of value for one purpose that someone else controls. Do I want that? 
What is it with these newbies & their first posts always being negative FUD?
Every single day I log in here to see wumming & FUD, what purpose does it serve?
If people think bitcoin has no future & aren't interested in investing in it then why are they here?
Every single day I log in here to see wumming & FUD, what purpose does it serve?
If people think bitcoin has no future & aren't interested in investing in it then why are they here?
the article is saying governments can outcompete Bitcoin by creating their own cryptocurrencies. ...
That's what I got from it also. But why would I want controlled money that works in one place when I could have math based money that works everywhere? This is the same as businesses thinking they could create a digital money. Actually, what they are creating is just a frequent flier mile. A store of value for one purpose that someone else controls. Do I want that? Please, lol.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
the article is saying governments can outcompete Bitcoin by creating their own cryptocurrencies. However, unless they are scarce like Bitcoin, I don't see why they would be likely to beat Bitcoin in the long run. In other words, if a government creates a crypto coin but can still print money whenever it wants, why would people be interested in that? and if they do create a scarce coin like Bitcoin, then it will accomplish the same goal of Bitcoin, which is sound money.
I think people need to stop focusing on getting BTC accepted as a national currency. The government will not gain anything from doing this and in fact they will lose the power to control the economy. Why would they allow this to happen?
I feel like people should concentrate more on getting BTC accepted by the people as a "alternate currency". There is a much better chance of this happening.
I feel like people should concentrate more on getting BTC accepted by the people as a "alternate currency". There is a much better chance of this happening.
"For any currency to succeed ultimately, it needs to be accepted by government as good for payment of debt and taxes. Bitcoin is anathema to the bankers, and these financial terrorists will cause pain and death in any country that attempts to adopt it, and blame it on the currency extremists. They don't need governments to kiss and make up."
https://www.reddit.com/r/Bitcoin/comments/3f6947/why_bitcoin_cannot_win_when_states_across_the/
https://www.reddit.com/r/Bitcoin/comments/3f6947/why_bitcoin_cannot_win_when_states_across_the/
Some powerful economic and historical arguments here, and what governments could do to defeat Bitcoin...
http://moraluniversal.com/en/why-bitcoin-cannot-win/
"Money is the product of society, just as Bitcoin is the product of a society of computers. Money needs the greatest human network to succeed, just as the Bitcoin blockchain needs the greatest computer consensus. This network and consensus, however imperfect, is ultimately provided by the state in modern societies, just as it was the case in the many cases of recoinage and remonetization throughout history. For as long as we have states that strong and accepted by people, for better or worse, Bitcoin will remain a substitute currency."
http://moraluniversal.com/en/why-bitcoin-cannot-win/
"Money is the product of society, just as Bitcoin is the product of a society of computers. Money needs the greatest human network to succeed, just as the Bitcoin blockchain needs the greatest computer consensus. This network and consensus, however imperfect, is ultimately provided by the state in modern societies, just as it was the case in the many cases of recoinage and remonetization throughout history. For as long as we have states that strong and accepted by people, for better or worse, Bitcoin will remain a substitute currency."
Jump to: