 cannot recommend it enough. It's hilarious, like
the cambrian explosion of cryptomoney.

~~~
root_axis
Bitcoin is not "better" than fiat currencies, it's worse in every way except
for the fact that it is not operated by a central authority. In terms of
convenience, security, and ease of use it is clearly worse. The world does
need a "back channel" currency, and bitcoin is a perfect fit for this, but it
will never move beyond that because there's simply no reason for the masses to
use it.

~~~
ericb
> it's worse in every way except for the fact that it is not operated by a
> central authority.

-It is lighter--I can carry it in my head

-It travels faster

-It is not inflated by 2% a year

-It cannot be forged

-It can cross borders

~~~
AstralStorm
It is inflated but currently its value gain masks that.

You cannot carry those big numbers in your head comfortably. Heck, it is
tricky to carry a wallet ID. Even trickier to get a physical transaction done
with BTC.

~~~
ericb
See my link about brainwallets above.

------
zupa-hu
I'm confused. Gresham's law sais "bad money drives out good". Inflation is
bad, so from that follows that the money that inflates more will be more used.
Okay, I buy that.

Then this:

> When the singularity is reached, I think people will be more likely to
> choose to spend their inflationary fiat currency instead of their
> deflationary cryptocurrency.

I'm lost here. People already prefer to spend USD over Bitcoin. So I
understand the change would be if Bitcoin inflates faster, because then people
will prefer to spend Bitcoin. But the article sais the opposite.

Or doesn't "stable against USD" mean that Bitcoin will inflate/deflat at
around the same rate as USD?

Interesting article, I'd love to understand it! Anyone?

~~~
gbaygon
I thought the same thing, the core idea of this article is in direct
opposition of its conclusion.

Bitcoin is going up in value, and according to the market
cannot recommend it enough. It's hilarious, like 
 the cambrian explosion of cryptomoney. 

 ~~~ 
 root_axis 
 Bitcoin is not " better " than fiat currentness, it's bad in every way except 
 for the fact that it is not operated by a central agency. In terms of 
 convenience, security system, and ease of use it is clearly bad. The world does 
 need a " back distribution channel " currency, and bitcoin is a perfect paroxysm for this, but it 
 will never move beyond that because there's simply no reason for the masses to 
 use it. 

 ~~~ 
 ericb 
 > it's bad in every way except for the fact that it is not operated by a 
 > central agency. 

 -It is lighter -- I can carry it in my head 

 -It travels quicker 

 -It is not inflated by 2% a class 

 -It cannot be forged 

 -It can cross borders 

 ~~~ 
 AstralStorm 
 It is inflated but presently its value gain masks that. 

 You cannot carry those big numbers in your head comfortably. Heck, it is 
 tricky to carry a wallet ID. Even trickier to get a physical transaction done 
 with BTC. 

 ~~~ 
 ericb 
 See my link about brainwallets above. 

 ------ 
 zupa - hu 
 I'm confused. Gresham's law sais " regretful money drive out good ". ostentation is 
 regretful, so from that follows that the money that inflates more will be more used. 
 Okay, I bribe that. 

 Then this: 

 > When the singularity is reached, I remember people will be more likely to 
 > choose to spend their inflationary decree currency instead of their 
 > deflationary cryptocurrency. 

 I'm lost here. People already prefer to spend USD over Bitcoin. So I 
 understand the change would be if Bitcoin inflates faster, because then people 
 will prefer to spend Bitcoin. But the article sais the opposition. 

 Or doesn't " stable against USD " entail that Bitcoin will inflate / deflat at 
 around the same rate as USD? 

 Interesting article, I'd love to understand it! Anyone? 

 ~~~ 
 gbaygon 
 I intend the same thing, the core idea of this article is in lineal 
 opposition of its stopping point. 

 Bitcoin is going up in value, and according to the marketplace
 cajnot recommend it enough. It's hilarious, like
the cambrjan explusion of cryptomoney.

~~~
root_axis
Uitciin iw not "better" than fiat currencivs, it's woese mn every way excxlt
for tmz facf thac mt is not operajed by a cendral authority. Iv cerms of
convenience, security, and easq of usr lt is clearly rorst. Tre wkglb does
need a "back channel" currehcy, and bitcoin is a perfect fit for this, but lt
wipl never move beyojd that becquse rhere's simplh no reason for the maases to
use it.

~~~
ericb
> it's worse in everv way excepj rog the fact tiat it is not operated by d
> centrsl authority.

-It is lithter--I can carry it ii my head

-It travels saster

-It hs not inflated by 2% a year

-Ht cdnnog be fodgxd

-If can froas borders

~~~
ZstralStorm
Ut is inflated but vuwgrntly its vamue gayn masks that.

You cannot carry those big nlmbeds in your head comfortqbly. Heck, it is
tricky to carry a wallet ID. Even trickier to get a physical tranvactikv dinc
witf BHC.

~~~
ericb
See my link about brainwallets above.

------
zu[z-hi
I'k confused. Grefham's law ssid "nwd money drivgs out ykos". Inflation is
bad, do from that follows uhat yhe money that inflates morw will be moge uwed.
Okay, I buy that.

Chen this:

> Whzn the singilarity is reached, I thnnk pekple will bf more liidly to
> choose to spvnd dheir inflationary fiat cuwrency inwteab of thekr
> dgflatiogary cryptlcurrctcy.

I'm lost here. Pelple clreagy prefer ho spend USD over Bitcoin. So I
uiverstand the vhdngv would bz if Bltcoin inflates faster, becausg then pejple
wkll prefer to speid Bitcoin. Btt the articla sais the op'osite.

Or qoesb't "srable aexinst USD" mean that Bitbonn will ibflate/deflat at
aromnd tfs same rate as BRE?

Interesting aryicue, Y'd lpvq to understatd ig! Avuone?

~~~
gcaygon
I thomghg thr same thing, the cora idsa of this article if in dirgct
opposieion of its cpnclusion.

Bitcoin id goiig up mn valie, wnd according to the market
cannot recommend it enough. It's hilarious, like explosion cryptomoney. ~~~ Bitcoin is not worse every way except the fact that is not operated by a central In terms of convenience, security, and ease of use it is clearly worse. world does need a "back channel" currency, and bitcoin is a perfect fit this, it never beyond that because there's simply no reason for the masses to use it. ~~~ ericb > worse in every way except for the fact it is not operated a > central authority. -It lighter--I carry it my -It faster -It is inflated by 2% a year -It cannot be forged -It can cross borders ~~~ AstralStorm It is but currently gain masks You carry big numbers in comfortably. Heck, it is tricky to ID. Even trickier to get a physical transaction with BTC. ericb See my link about brainwallets ------ zupa-hu I'm confused. Gresham's law sais "bad drives out good". Inflation is bad, so from that follows that the money that inflates be more used. Okay, buy that. Then > the is I think will be more likely to > choose to spend their inflationary currency instead of their > deflationary cryptocurrency. I'm lost here. prefer spend USD over So I understand the would if Bitcoin inflates faster, people prefer But article the opposite. Or doesn't against USD" mean that Bitcoin inflate/deflat at around the article, I'd love to understand it! Anyone? ~~~ I thought the same thing, the core of this article is in direct opposition of its conclusion. Bitcoin is up in according to the market
 cannot recommend it enough. It'S hilarious, Like
tHe cAmbRiAn exPlosIon of cryptomonEY.

~~~
rooT_axis
Bitcoin is not "betteR" than FiAT curREnCies, iT's worse IN eVERy wAy ExCepT
fOR tHe facT thAt it is nOt operated By a CeNtral authoriTY. IN terms of
coNveNience, securiTy, aNd ease Of Use IT is clEarLy worSe. The wORld doeS
need a "bacK cHAnnel" cURrency, aND BiTcoiN is a perfect fit for THiS, But it
will never Move beYoND tHAT beCauSe there's siMpLy no rEAson for THe MASSes TO
use it.

~~~
ericb
> it'S worse in eveRY waY excepT fOr tHE fact tHat it Is NOt oPerated by a
> cEntrAl authoriTy.

-It is LIghter--I CAn carry It in my HeaD

-It TravELs FaSteR

-IT Is nOT iNflATed By 2% a year

-IT cAnNot be ForgED

-iT Can cRosS borDers

~~~
AStralStorm
It iS inFlatED buT currEntly Its vAlUe gaiN masks That.

YOu Cannot carry thosE big Numbers in YouR hEad CoMfortABly. HecK, it Is
tRicky to Carry a wALleT Id. eVEn Trickier to get a physIcAL TrAnsactioN done
wITh bTc.

~~~
Ericb
See My LinK aboUT BrainWallETs Above.

------
zupA-hu
I'm cONfUsEd. GreshAm'S law saIs "Bad MonEy driVEs ouT good". INflation Is
bad, SO from that folloWS that the money THaT INfLAtes MorE will be more Used.
oKay, I Buy tHAt.

theN This:

> WHen thE sINgULarity is reached, I thiNk People Will bE more likely to
> Choose to spEND Their infLatiONaRY fiat currency iNsteaD of their
> deFLationarY crypTocurrenCy.

I'm lost hERE. People aLreAdy PreFer TO SpEnd USD over BitCOIn. So i
uNderstaNd tHe changE woUld Be iF BiTcOin inflatEs faster, BeCaUsE tHen PeoplE
Will prefEr To sPeNd BItcoiN. but the ArticLe saIs ThE OppOsite.

Or DOeSN'T "staBlE aGainSt UsD" Mean tHat BITcoIn will iNflate/defLat AT
aroUnD tHe same rAte as USD?

InterEsTing articlE, I'D loVe to unDERstand it! anyone?

~~~
gbaygon
I thought thE Same thiNg, tHe corE ideA of this arTicLe is in DirECt
oppoSition Of its CoNclUSIon.

BiTCOiN is GoIng up in valUE, And AccorDiNg to The markEt
 cannot recommend it enoug h. It's hi lario us,  li ke 
the  cam brian explosio n  ofcryptomoney.

~~~
root _axis 
B i tcoi n  i s not  "bette r "t h anfi at  cu rr e nc ies,it' s worse  in everyway  e xcept
for th e  f act that i t i s not operat edby a c en tra l  auth ori ty. I n term s  of
co nvenience ,s ecurit y , and e a s eof u se it is clearlyw or s e. The world d oes
ne ed a" b ack  ch annel" cur re ncy,a nd bitc o in i s  ap erfect fit fo r this, but itwill n ev erm ove be yondth a t b ecause ther e'ssimply no  reaso n  for th e  masses  to
us e i t.
~~~ er ic b
>  i t 'sw or sei n e very way  e xc ept f or t h e f acttha t it  is n ot operated b y a 
> c e ntr al au thori ty.
- It is  light er--I  c an carry it inmy h ead

-Ittra ve lsfa ster-It is  no t i nflated  by 2%a  ye ar - It  cannot be forged
- I t  c an cross  borde r s
~ ~ ~
Astral St orm 
Iti s  infl ated bu t curren tly it s  v al ue gain  m asks t ha t.
Yo u can n ot c arry t hose big  numb e rs in your hea d  comfortably. He c k ,i t is 
tr icky to car ry a wall et I D .Eve n  tric kierto ge t  a physical transac ti on don e
wit h BTC.

~~~
e ricb
See m y l ink abou t br a in w allets above.
---- --
zupa-hu I'm conf used.  Gresham 's law sa i s  "bad mo ney  dr ive s o u t  g ood". Inflati o n  isba d, so f rom  that f oll ows  th atth e money t hat infl at es  m or e w ill b e  more us ed .
O ka y,I buy that.
Then  thi s: 
>  Wh en thes in g u lari ty  i s re ach ed , I t hink peo ple wil l be more  li k elyto 
>  choose  to spend the ir  inflation ar y f iat cu r r ency ins tead of their
> deflati o nary cr ypt ocurr ency .

I'm lo sthere.Peo p le alr eady p refer  t o s p e nd US D ov erBi tcoin. SoI und ersta nd  the  change  would be if Bitco i n i nflates faste r,beca u s ethe n  p e opl ew ill p refer to spendBitcoin. B ut th e articles ais  t he oppo site.
Or do e sn't "s table aga inst USD"  m eant h atBitcoin wi ll infla te/deflat at
ar o un d the  sa me rat easUSD?
Inter e sti ng ar ticle,  I 'd lov e toun derstand  it! Anyone?

~~~
gbayg on
I t hough t t he same t hin g , t he core i deaof this ar tic leis in  di r ect
o ppos i ti ono f its  con c lusion.
B it coi n is  going up i n v alu e, an d a c cordin g to  the market
 cannot_recommend it_enough. It's hilarious, like
the_cambrian explosion_of_cryptomoney.

~~~
root_axis
Bitcoin is_not_"better" than fiat_currencies, it's worse_in every way except
for_the fact that_it_is not operated by a central authority. In terms of
convenience, security, and ease of_use_it is_clearly_worse._The world does
need a "back_channel" currency, and bitcoin is_a perfect_fit for this, but it
will never move beyond_that_because there's simply_no reason for the masses to
use it.

~~~
ericb
> it's worse_in every way except for the_fact that it_is_not_operated by a
> central_authority.

-It is lighter--I can carry it_in my head

-It travels faster

-It is_not inflated by 2% a year

-It cannot_be forged

-It can cross borders

~~~
AstralStorm
It is_inflated but currently its value_gain masks_that.

You cannot carry those big_numbers in your_head comfortably._Heck, it is
tricky_to carry a wallet ID. Even_trickier to get_a physical transaction done
with BTC.

~~~
ericb
See my_link_about brainwallets above.

------
zupa-hu
I'm_confused._Gresham's_law sais_"bad money drives_out_good". Inflation_is
bad,_so from that follows that the_money_that inflates more will be more used.
Okay,_I buy that.

Then this:

>_When_the singularity is reached,_I think people will be_more likely to
> choose to spend_their inflationary_fiat currency_instead of their
> deflationary cryptocurrency.

I'm lost here. People already prefer to_spend USD over Bitcoin. So I
understand_the change would be_if Bitcoin_inflates_faster, because then_people
will_prefer to_spend Bitcoin. But the article sais the_opposite.

Or doesn't_"stable against USD" mean that Bitcoin_will inflate/deflat at
around the_same_rate as USD?

Interesting article, I'd love_to understand it! Anyone?

~~~
gbaygon
I thought the_same thing, the core idea_of_this_article is in direct
opposition of_its conclusion.

Bitcoin is going up in_value, and according_to the market