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Versus Boredom posted:I'll take one human liver and six kilos of cocaine please. You accept BitCoin right? If this actually takes off it will be a great currency to make those kinds of transactions with. Dollars are tracked in a way bitcoins are not. Overall it's an interesting thought experiment but I doubt it'll ever take off. It's not going to become a viable and robust currency with a few thousand adopters having a few hundred bucks each in it. Their decision not to manage it at all and just let it take it's natural course doesn't inspire confidence either. I know what happens to currencies naturally. They fail. It's funny they say, "It CANT FAIL unless people stop using it!" Yeah, that is one of the big ways currencies go down.
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May 23, 2011 20:41
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artard posted:Basically to reiterate my own point I think that Satoshi Nakamoto (the creator of BitCoin) is a genius because he basically found a way to invent his own monopoly money and created a distribution framework that ensures he gets a huge share of the currency (by being the earliest adopter). All while getting a community behind it so they are all rabidly mining/buying up coins that pumps up the value so the early adopters can cash in and make shitloads of money while the hype machine leads to the inevitable bubble/bust. I think it's really quite awesome and wish I'd thought of it first. Suckers have short memories.
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May 23, 2011 21:03
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Hey grifting is a noble and ancient profession.
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May 23, 2011 21:25
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