Quote from: chaord on August 24, 2010, 04:53:24 AM

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Unless you buy into the idea that there is a build in demand for bitcoins just because they exist as a limited commodity. In that case, I've got some things I think you'll be interested in...

I definitely would be interested, as long as there is a use value for which bitcoin data is superior to any other string of seemingly random 1's and 0's Wink

. Edit: Actually, I'm interested either way. Let's hear it.

Actually that was part joke and part poke at people who think that because bitcoin is designed to be deflationary in nature that makes it the perfect commodity for saving in.

I think bitcoin has already sowed the seeds of it's own destruction by using a fixed commodity/currency model. Blame John Wanamaker. Americans simply don't haggle anymore so we find rapidly varying prices distasteful. Also naive proponents of fixed currency tend to sound like they are promoting a Ponzi scheme. They have trouble explaining how bitcoin is better than PayPal without analogies that make user sound like neer-do-wells. None of that helps bitcoin build creditability.

That being said, bitcoin is the best attempt yet in my mind. None of these complaints are in anyway technical limitations so there is still huge near term potential even "as is".

So, I do have some ideas for you.

You've hit on the need for a bitcoin futures market. Been thinking of coding one of those up myself. It is a much more profitable way to speculate in the currency. We can talk about why it has exceptional potential for the bitcoin community.

I have another idea as well but I'll start a new thread.