More than just currency

About: bitcoin vs. the federal reserve - andreas antonopoulos and stefan molyneux - youtube

fascinating from start to finish.
My first thoughts stimulated were blockchain used to validate the food chain & perhaps commodity markets.  Don't ask me how yet.

Tags

  1. bitcoin

Comments


Mark de LA says
I wonder what this will do for the market - DOD investigates the possibility of terrorists using it.


Mark de LA says
seth 2014-02-27 19:00:31 17124
source: my comments to somone deciding to use or not to use bitcoins are in this train on facebook

Seth Russell one problem currently with accepting bitcoin is that the currency is so very speculative ... it goes up and down in value so very dramatically. you may not want to absorb that kind of risk.

....

Seth Russell i have been following this from the start and even got a bit into the technology. If the government doesn't find some way to suppress it, and if money speculators and don't bubble it into oblivion, it might just be what Kristen Harris wants it to be. But there is nothing about it that is not just money, not even an "understanding that people exchange fair fee for services and products". The best we could hope is that it would be free of governments ... but that in itself may be quite enough.

One thing to understand is that currently is there is a very very small total number of bitcoins relitive to US dollars. It is growing, but by agreement and technology it cannot grow beyond a fixed total number of bitcoins. Consequently if the bitcoin economy is to grow, we will see smaller and smaller fractions of one coin being traded. In other words, deflation, rather than inflation, has been designed into the bitcoin economy. That sounds like a good thing ... but i am not enough of a economist to know, as our culture changes, whether it will be good or bad.

... is that not the way you see it too?
Obviously you did not watch the YouTube interview. I will talk to you after you do.  The interview is way beyond what you describe above.  I have had some concerns & even argued them to some on G+.  But the inflation we are experiencing in the $ & manipulation by politics is a disaster waiting to happen.


Seth says
Einai 2014-02-27 19:04:50 17124
seth 2014-02-27 19:00:31 17124
source: my comments to somone deciding to use or not to use bitcoins are in this train on facebook

Seth Russell one problem currently with accepting bitcoin is that the currency is so very speculative ... it goes up and down in value so very dramatically. you may not want to absorb that kind of risk.

....

Seth Russell i have been following this from the start and even got a bit into the technology. If the government doesn't find some way to suppress it, and if money speculators and don't bubble it into oblivion, it might just be what Kristen Harris wants it to be. But there is nothing about it that is not just money, not even an "understanding that people exchange fair fee for services and products". The best we could hope is that it would be free of governments ... but that in itself may be quite enough.

One thing to understand is that currently is there is a very very small total number of bitcoins relitive to US dollars. It is growing, but by agreement and technology it cannot grow beyond a fixed total number of bitcoins. Consequently if the bitcoin economy is to grow, we will see smaller and smaller fractions of one coin being traded. In other words, deflation, rather than inflation, has been designed into the bitcoin economy. That sounds like a good thing ... but i am not enough of a economist to know, as our culture changes, whether it will be good or bad.

... is that not the way you see it too?
Obviously you did not watch the YouTube interview. I will talk to you after you do.  The interview is way beyond what you describe above.  I have had some concerns & even argued them to some on G+.  But the inflation we are experiencing in the $ & manipulation by politics is a disaster waiting to happen.


Well yes Andreas is certainly inspiring.  I didn't realize the magnitude, resilience, and security of the bitcoin network ... and am almost to the point of getting my own wallet.  That said, everyting i said was consistent with what he said .. even down to the point of realizing that it is not yet a currency to rely upon yet here in the America relative to the US dollar.  In any case i'm going to post it to Kristen Harris's item.  I hope she listens to it all.

Mark de LA says
There is more that is anxious to use the technology see Bloomberg here.

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