Re: Why Bitcoin is ultimately doomed to fail (not today or tomorrow)
So by decentrilization you mean different banks issuing money. I guess we are still in a decentralized economy then since different nations / organizations / banks are still issuing money. Guess what. No.
You could "issue" your own IOUs which would constitute your own "decentralized" currency. As I have earlier said in one of my posts somewhere around here, in medieval times you could bring an ingot of gold to the mint and have official coins minted from it, so there is nothing new in "decentralization", which you apparently promote as one of the virtues of Bitcoin...
In any case, decentralization will be of little, if any, help for Bitcoin. Gold was "decentralized" too, so no difference here...
It seems that you struggle to understand what decentralized means.
If a bank, an institute, an organization, a country of even me issue money then that's not a decentralized economy. Bitcoins are issued by themself. There is absolutely noone issuing them. If you can't see how revolutionary is that then i guess it can't be helped anyway.
In a way you can see gold as something decentralized and bitcoin has elements inspired by gold anyway. Some even call it gold 2.0.
Gold though isn't a currency and bitcoin has all the qualities of gold and on top of that adds all the characteristics of a currency.
And don't forget something. Gold is around as money or to store wealth for around 6000 years
