Quote from: deisik on June 09, 2016, 10:16:58 AM

Quote from: hermanhs09 on June 09, 2016, 10:09:45 AM

Quote from: deisik on June 09, 2016, 10:05:27 AM

The total majority of Bitcoin holders think of their favorite toy as the next step in the evolution of money (less so for active users). I don't deny the technological innovation in respect to the blockchain and the decentralized nature of how new money is created. With that said, I still don't think that Bitcoin did actually revolutionize the concept of money itself. Gold as money existed long before fiat, and it was "created" in a decentralized way too, so nothing particularly new here also...

I have an idea what could be an entirely new form of money (actually, it is not my idea), but first I would like to hear from you, guys, what you think about the truly new money that is yet to be invented or implemented

I think that the real money is the ones that are decentralized. Over the years people have been going back and forth between good money(money that is not controlled by government) and fiat currencies.

And bitcoin in my opinion is the next gen good money. Just like gold.

But as of now Bitcoin can hardly be called a truly "good" money since its creation is as centralized as any of fiats. There are a few dozen fiat monies out there, and as many central banks that create money. There is one Bitcoin, and a few dozen mining polls (or just a few) out there as well...

So what's the real difference in this regard?

If you're talking about centralization within the mining of bitcoin, then yes, this problem does exist and this will be something that the bitcoin community have to work out a solution eventually.

But bitcoin is still fundamentally better than fiat currencies, as there is a cap to its creation. Also, it's not subject to monetary and fiscal policies of the government. So it's pretty impossible for someone to pump double the entire volume of bitcoins known right now into the market.