Post
Topic
Board Speculation
Re: In the long run, bitcoin will be worth $0.
by
noedaRDH
on 27/04/2013, 18:54:57 UTC
This isn't intended to be another spam thread, this is real analysis.

Eventually the world will adopt a crypto-currency. That's just where technology is headed and where we are evolving. It won't, however, be bitcoin. Bitcoin was a good experiment while it lasted, but through experimenting with it it's shown its weaknesses, weaknesses that other crypto's have already made headway in correcting, just without wide adoption.

Eventually, a new crypto that isn't currently in existence will be developed by a counsel of cryptographers and industry professionals from silicon valley but more importantly will also be directed by the advice of economists, not just computer scientists. This new crypto will be widely endorsed in silicon valley and will take the world by storm, eventually becoming the exclusive currency of most online retailers and will be known as the internet currency (as if the internet were its on country / economy). As surely as I write this, this will happen, and when it does, all other crypto's including bitcoin will become obsolete. Sure, they'll still be collected as vintage items for their sentimental value the way old NES games are still collected. But mining them will be easy enough that they'll have no real value.

There's nothing "real" about this analysis.

You're assuming that BTC's are the first virtual currency.

They are not.

Any open source program based on the features of Bitcoins will most likely be seen as another clone; no reason to give that clone any time of day due to the existing network effect of Bitcoins.

Any non-open source program will be shunned by those who understand the underlying value of Bitcoins.