Post
Topic
Board Mining
Re: Small time miners - What do you do when ASICs hit and you don't upgrade?
by
Meatball
on 27/10/2012, 21:43:57 UTC
Since bitcoin is still in its infancy, I would say almost everyone.  What bitcoin needs today to start on the path to becoming mainstream are merchants who will accept bitcoin.  Without merchants, it will never become mainstream.


See, I think that's the problem.  Most currency is created due to the fact that people are already exchanging goods and services and they need a simpler way to do that beyond bartering and the like.  The problem with BTC is that the currency came first and it's looking for goods and services to be used on, and to be honest, I don't see that getting any better.  As others have said, due to the wild fluctuations, what producer of goods or services is going to want to deal with?  And while I'm sure BTC will and can always be used for some niche things, I don't know if it'll ever get any traction.