Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
rocks
on 10/02/2015, 01:48:18 UTC
That's an interesting line of reasoning.

It suggests that Bitcoin can only succeed if no such attackers exist.
Bitcoin can only succeed by growing larger than all attackers.

"Growing" implies a stage of being smaller, at which point such attackers can and will destroy it. How can anything grow if it is already destroyed?




Kinda the unlikely miracle of Bitcoin's current size, perhaps. This is partly why Wences Casares, for example, likes to assert that it's much less likely for Bitcoin to have gotten from 0 to where it is today, than for it to get to 1B users from where we are now.

Haven't heard that before, but completely agree with the sentiment. It is also explains the 2011 bubble, which represented almost a 1000x increase in valuation. The reason was bitcoin crossed from being a small project among a few people (i.e. 0) to being a stand alone entity, this was a massive transition and validation of the platform.