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Comment Re:Biggest Probem? (Score 1) 144

That is a barrier to competition, but look how fast Bitcoin arose.

History is replete with examples of superior technologies that never get a foothold because of the network effect. A technology has to be dramatically superior to overcome this in many cases. Any alt feature set can simply be rolled into bitcoin if it is good enough as Bitcoin is simply an evolving open source protocol where 60% of the code has already changed.

There is no reason to assume that Bitcoin will stay on top other that its first mover status. Not a single other reason.

History has shown that all republics and nations will ultimately fail as well, so yes, in this sense I agree with you, in 100 years bitcoin may likely be replaced.

Comment Re:Biggest Probem? (Score 1) 144

Bitcoin has no value if it is not used. .The use of Bitcoin is somewhat arbitrary, unlike the Euro or USD.

USD has no value if not used either. I receive Bitcoin as payments, pay employees in bitcoin, make retail purchases in bitcoin for discounts, tip in bitcoin, wire money in bitcoin, and give out loans in bitcoin, no different than USD.

Bitcoins, as of today, are only valued relative to USD and Euro, for all practical purposes.

Bitcoin has value relative to all currency, commodities, and services just like the dollar. In fact most activity with Bitcoin is centered around the BTC/CNY currency pair and not USD or EUR currencies.

Comment Re:Biggest Probem? (Score 1) 144

Bitcoin has no value if it is not used. The use of Bitcoin is somewhat arbitrary, unlike the Euro or USD. It would be much easier to have another digital currency topple Bitcoin than have Bitcoin topple an national currency.

Bitcoin isn't toppling any national currencies and no one even suggested so. Fiat and Bitcoin will continue to coexist, compete, and assist each other all at the same time.

So, I agree that Bitcoin has a first move advantage, but your confidence that other digital currencies could not quickly compete appears to be higher than mine. The problem is that is Bitcoin's only advantage.

What about all the hardware and software that cannot so easily be re-purposed for other digital currencies? ATM'S, BTC Hardware wallets, POS systems, ASIC miners, ect...

Comment Re:Biggest Probem? (Score 1) 144

There are other currencies, certainly, but none are competing to be the official currency of the US. That is the key difference that you are throwing aside as if it is meaningless, and I assure you it isn't. A digital currency has a unique characteristic that make it compelling for a global exchange medium, but there is nothing unique among other digital currencies.

I've stated quite the opposite, indicating that the USD does indeed have a unique difference in that it is considered legal tender while Bitcoin is sovereign and has its own unique properties that the USD lacks.

The USD is unique as the standard US currency. Just as every other national currency is unique.

You seem to have a hard time grasping why and how a digital asset can have value. The value Bitcoin has comes from the billion+ invested in hardware, development, startups, education, marketing , and acceptance. Much of this hardware and software cannot be easily re-purposed for other crypto-currencies. Another token cannot come along and easily topple Bitcoin, just the same as a competing national currency cannot so easily topple the USD as being the most accepted reserve currency worldwide.

Comment Re:Biggest Probem? (Score 2) 144

No, there is only one currency standard for the country. They can trade with other currencies but everything is based on its relation to the USD, but as far as the USD goes, there is not competitor in the US, and particularly not one that influences the value of the USD.

There is a world that exists outside your country, and one that has ~4 billion unbanked and underbanked. Within the US the dollar does indeed have many competitors, one of them being Bitcoin. The one unique thing the dollar has that Bitcoin doesn't is it is considered Legal Tender and has the privilege of the sole currency to pay taxes with and is a mandated option to repay debt with in your geographic region.

Comment Re:Why virtual currencies are ineffective (Score 2) 144

What we really need is the government to create a virtual currency, with all the regulation and control that entails. Then you can have all the benefits of a cryptocurrency but with the benefits of it actually becoming mainstream for the majority of users, without the problems a truly anonymous one has with regard to criminal activity.

All governments do already indeed create "virtual currencies" as most fiat exists as digital tokens. Many of the benefits you speak of that Bitcoin provides will never be adopted by governments as some of the intrinsic properties are antagonistic to governments needs and desires.

Comment Ripple = instruments of debt (Score 2) 144

Ripple is centralized and works based the economic principles of debt like most Fiat which is fundamentally different than Bitcoin where the token is a store of value itself instead of Ripple which uses "ripples" or XRP as an anti-spam token to process transactions and all payments are debt based, which carry counter-party risk.

In other words, they are not similar at all in nature and both will likely co-exist with Ripple appealing more to governments and banks.

Comment Re:Biggest Probem? (Score 1) 144

Isn't the problem with the value of the USD is that there can be an infinite amount of competing currencies expressed by giftcards, crypto-currencies, and other forms of fiat?

It's possible that like the dollar (most widely adopted reserve currency) Bitcoin will also harness the first mover advantage and network effect to remain the principally used cyrpto-currency amongst a pool of competing currencies?

Comment Re:Horribly sexist ! (Score 3, Insightful) 642

Just for women ? That's really sexist !

The notion that "portraying men as muscled killing machines" is a kind of sexism has not yet arrived in the mainstream. Which tells you interesting things about our society.

Still: women are more likely to be displayed in roles perceived as *de*grading, whereas men are portrayed with attributes perceived as positive (strength, power, etc). So the problem of sexism against females should get priority imho.

Portraying men as sex addicted, killing machine simpletons is degrading to the male gender. Many feminists would disagree with you and suggest that female sexuality if empowering.

Comment NFC Bitcoin Checkout is more secure (Score 2) 122

http://blog.bitpay.com/2014/11/04/bitcoin-checkout-one-tap-mobile-bitcoin-payments.html

Yes, I understand the downsides of fewer merchant acceptance but there are plenty of upsides as well for everyone.

Orders can be priced in 150+ currencies, and past payment information is only a few taps away.

We’re now rolling out the app to every mobile market worldwide, in the 40 languages spoken by 99.99% of the world’s population.

Comment Decentralized Marketplaces (Score 1) 219

The future is being developed and we are already testing a marketplace that cannot be shutdown.

Decentralized marketplace for instantly trading uses blockchain technology, DHT, and mutisigniture arbitration.

https://openbazaar.org/

Beta 3 is about to be released. Join Us and support the future with a decentralized Ebay - https://github.com/OpenBazaar/...

http://tip4commit.com/projects/728

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