Archive for September, 2014
I chat about Bitcoin while opening a box of Pokémon Furious Fists cards.
Bitcoin fulfills the desire for people to have a currency that:
1. Does not rely on the already-established, state-approved financial apparatus.
2. Does not have costs associated with storing physical material.
3. Allows transactions to occur in seconds and to confirm in minutes, rather than days.
4. Is potentially anonymous.
5. Is decentralized.
6. Allows for the creation of applications that interface with an open, accessible data source (like the blockchain) that allow for the automation of otherwise costly services such as: fundraising, contract enforcement, transfer of assets after one’s death, establishing public records of owership, and stock brokerage.
People have demonstrated that they want these things.
So, if Bitcoin is going to lose popularity soon, as many people allege, what’s going to “fill in the gap”? I ask because like to hearing well-though-out alternative points-of-view and it is always preferable to hear concrete suggestions and solutions than complaining… Anyone up for answering this question?