I've been keeping up with the developments, and IMO this is a fair assessment. This author has every reason to be biased, but I do have the impression that the problems that bitcoin can potentially solve, coupled with the momentum it has gathered, means that it is going to be occupying a real space in the financial sector (and likely others) for some time to come. For me, the biggest question mark at this point has to do with the development team. It is small, centralized, and the devs carry a weight that grows heavier each passing day. From what I have seen, I am optimistic about them. They seem to be a conservative, thoughtful bunch that are more than willing to speak about the limitations of bitcoin, and the threats to its success. Besides the effect they have upon the code, their ability to manage expectations has a palpable effect on a community. I expect that at least one major hard fork sits between HERE and THERE, and I think they can pull it off. Personally, I think that bitcoin will do well as a transactional tool within the next couple of years. However, my guess is that it will be most disruptive first in another space, and only at a later point powerfully change the landscape of finance.
I've been considering buying up a couple bitcoins. I read this article and brought up the subject with some coworkers at lunch today. They became visibly uncomfortable, I'm guessing because they don't grasp the concept of crypto-currency. I'm not an expert myself, but I think that the extent to which the general public knows about bitcoins is that people buy drugs with them. Hell, most people haven't even heard of bitcoin yet. So what do you think, Hubski, should I buy some BTC? P.S. I cannot wait to see big finance get shaken up. Even if it's not bitcoin, some global crypto-currency will inevitably come along and see 100% adoption.
Yeah, I see where you're coming from. A currency's stability trends with the number of transactions, so me just sitting on 2 bitcoins for the rest of my life doesn't really help anybody out. The longer I hold onto these bitcoins, the more difficult it will be for me to not use them, provided that it gains increasingly widespread acceptance, and especially when it becomes more and more convenient. Amazon has already incentivized BTC, but I consider them the Wal-Mart of the internet and generally try to avoid doing business there. (first clause of statement was revealed to be false) I hate to say it, but I do view this primarily as an investment opportunity for the time being. Maybe I'll just make small transactions in an effort to bolster the currency, but I'd imagine that larger transactions promote greater stability than smaller ones. Now I kinda feel bad. You can hate me, Aeiri, but if I'm a millionaire in my 30's, I won't regret this.
I never said I hated you, I don't know you well enough to hate you. I'm just saying that everyone is seeing it as an investment opportunity and not as the currency solution that it really is. The fact that everyone is acting this way is a hinderance to actual currency adoption, which is my personal dream for bitcoin. If everyone just sits on it, is it going to actually be worth anything? I always go back to thinking along the lines of Executive Order 6102. But whatever... To the moon! PS: Amazon has incentivized Bitcoin? When? Where? I wasn't aware they even accepted it. You can buy Amazon gift cards from external parties with Bitcoin but it doesn't directly accept it to my knowledge.
Those are all legitimate concerns. Apologies, I have flubbed my facts. Your understanding is more or less spot on. Some sleuthing tells me that there was once talk of Amazon fully adopting it, but they nixed the idea shortly after it was discussed in the public sphere.PS: Amazon has incentivized Bitcoin? When? Where? I wasn't aware they even accepted it. You can buy Amazon gift cards from external parties with Bitcoin but it doesn't directly accept it to my knowledge.
That is exactly my line of reasoning. I've heard a compelling argument (probably inside of article posted on Hubski by yourself, mk) that they're expected to plateau around 500k to 750k. I like those returns. Work is slow today, I think I'm going to set up my wallet...
"YOU get a bitcoin! ..And YOU get a bitcoin!!" If you ever decide to accept financial support for Hubski, you'll definitely see a slice of any profits I incur.
Preach!I cannot wait to see big finance get shaken up.