Re: Wall Observer - MtGoxUSD wall movement tracker

Frozenlock just gave the answer that ends this discussion. The blockchain has the potential to become so much more than a ledger that stores bitcoin transactions. Bitcoins however are what gives you access to it. Intrinsic value, right there.

Could you give some examples?

I think nerds like to, well, nerd out about the potential of the block chain because it takes a while before you can even wrap your head around what it actually is: a distributed, tamper & attack-proof, eternal, trust-free storage of information. (...)

Yup.

You could "relatively" easily bootstrap an entire financial sector (stocks, options, etc.) on top of bitcoin and be incredibly secure. All this without the need for massive investment, or even a powerful and corrupt-free judicial system.

The price to use this? Transaction fees, paid in bitcoins.

Quote from: Frozenlock on June 05, 2013, 11:12:50 PM

But I still think Bitcoin is currently overvalued. Wink

So one of two things is true:

1. You believe the Blockchain (including it's current main use as currency) being used extensively for any of the reasons you discuss is very very small
2. You are irrational