Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin 'real money' to you?
by
OrientA
on 26/10/2015, 14:42:32 UTC
The reasoning behind my thinking that Bitcoin isn't real money is :

1, You can't goto your local petrol station or McDonald's to buy either cigarettes or burgers.
2. Do I really want to wait from 15 mins - 2 hours to confirm a small purchase at an establishment.
3. Sooner or later someone will crack private keys or find a way to control wallets and all Bitcoin will turn to dust.
4. How would you calculate the price of an item if Bitcoins price is so fickle

1, 2. Lack of instant confirmation is a problem. It can be solved by side chains. If credit card companies integrate bitcoin, and you have account with them, then it is not a problem.

3. They will need the energy of the universe to crack all the keys. If the keys can be cracked, all the banking and financial system is insecure.

4. Price volatility will be smaller when bitcoin is used more, and the market capitalization is bigger.