TheBigShort
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So anyone could develop a better crypto currency which resolves all those problems. Maybe that has to happen for you to realise that Bitcoin has no monetary value whatsoever.
While the idea of an alternative community of CypherPunks developing a universal currency is appealing to some, the reality is that the vast majority of people would prefer a Central Bank backed or state backed crypto currency without all the problems listed out by Philip.
You mean new technology replacing old technology, rendering the old technology worthless?
Thats being happening since the invention of the wheel...what gives?
Your first mobile phone is worth nothing just as your Bitcoin now is worth nothing.
Brendan
Apologies. I was referencing your post above (93). Still, the question stands....why do so many people think these things about Bitcoin? If it was all fine and dandy wouldn't people know by now?
This is the typical banker that adds blockchain to his title and knows zero about it.
10/11 nonsensical claims, this is real fun
Or is that the rule of the Blockchain community - at meetings, it is rude to challenge nonsense?
The exchange of FIAT currency has undergone massive change in the recent decades, from the introduction of ATMs to POS machines, to the introduction of e-commerce and the new entrants such as Stripe.Firstly, we are talking about one of the most fundamental cornerstones of human activity which has undergone little in the way of disruption.
I note Bitcoin was released in 2009. That's almost 10 years which is a lifetime in the modern era where technology is concerned.Secondly, bitcoin (& crypto generally) is a tech solution/development. How long did it take for internet related technologies to mature?
The Wright brothers flew their first flight in 1903. 11 years later planes were used in the First World War and for commercial flights. Where are we with Bitcoin?Im just wondering, when the Wright brothers flew the first aero flght, did anyone think it was all a bag of hot air because flights from London to New York were still a problem?
Is Bitcoin not out almost 10 years already?We are in a very early stage of the technology. It will take at least a decade until we will be able to appreciate it completely.
Some change yes but I don't think that has in any way challenged the status quo in terms of the traditional banks. Banks have gone online and such but they have managed that transition in-house. The same with POS and ATMs for the most part.The exchange of FIAT currency has undergone massive change in the recent decades, from the introduction of ATMs to POS machines, to the introduction of e-commerce and the new entrants such as Stripe.
Go back and check how long the development of the internet took from the very beginning.I note Bitcoin was released in 2009. That's almost 10 years which is a lifetime in the modern era where technology is concerned.
Sure but you are talking about mass adoption. When my parents and grandparents emigrated, they didnt fly whether that be the US or UK and that was still many decades after your Wright brothers flight.The Wright brothers flew their first flight in 1903. 11 years later planes were used in the First World War and for commercial flights. Where are we with Bitcoin?
Is Bitcoin not out almost 10 years already?
The Wright brothers flew their first flight in 1903. 11 years later planes were used in the First World War and for commercial flights. Where are we with Bitcoin?
Go back and check how long the development of the internet took from the very beginning.
The move from cash to plastic took 40 years to take hold.
Do you think Tsipras is just waiting for bitcoin to sort out a few technical problems before Greece adopts it as its national currency?Despite that, within 6-7 years of its notes and coins circulating it was bankrupting nations and threatening to implode european economies.
I don't think anyone is suggesting that BTC will be adopted as a national currency. That doesn't mean that the euro project isn't without its flaws - which is the side point TBS was making. For the purposes of staying on topic, his main point being that discussion on a European currency goes back many years. Therefore, it's not true to say that if BTC was of any consequence, it would have made a mass market impact by this stage.Do you think Tsipras is just waiting for bitcoin to sort out a few technical problems before Greece adopts it as its national currency?
Mr. PayPal no less thinks that bitcoin will be the World's single currency, possibly within 10 years.I don't think anyone is suggesting that BTC will be adopted as a national currency.
I'm open to correction but my understanding is that Peter Thiel stated that BTC would become the online equivalent of gold. He also stated that the outlook is high risk and that there is a 50-80% chance that BTC would end up having no value. I don't think he ever stated that it would be the World's single currency. As regards national governments implementing it as a national currency, you know that's not going to happen as it's not what governments do.Mr. PayPal no less thinks that bitcoin will be the World's single currency, possibly within 10 years.
Ok wrong guy. It was some other genius, whom I forget.I'm open to correction but my understanding is that Peter Thiel stated that BTC would become the online equivalent of gold. He also stated that the outlook is high risk and that there is a 50-80% chance that BTC would end up having no value. I don't think he ever stated that it would be the World's single currency. As regards national governments implementing it as a national currency, you know that's not going to happen as it's not what governments do.
Do you think Tsipras is just waiting for bitcoin to sort out a few technical problems before Greece adopts it as its national currency?
Mr. PayPal no less thinks that bitcoin will be the World's single currency, possibly within 10 years.
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