Post
Topic
Board Speculation
Re: rpietila Wall Observer - the Quality TA Thread ;)
by
SlipperySlope
on 14/05/2014, 14:51:45 UTC
1. Bitcoin achieves efficient trusted payment between pseudoanonymous peers without the need for a trusted third party. Because the non-Bitcoin economy is greatly burdened by rent-seeking trusted third parties, e.g. banks, Bitcoin has great disruptive potential that is drawing substantial venture capital and entrepreneurs. The payment mechanism is a public ledger and programmable money. Bitcoin is a extendable technology platform - analogous to the Internet.

2. Bitcoin provides a deflationary store of value because a maximum 21 million bitcoins will ever be created. The substitution of bitcoin for fiat will substitute the virtue of savings/prudent spending for the vice of dis-saving/immediate indulgence. Bitcoin as currency will profoundly impact on the world's economy and culture, e.g. no more ruinous boom and bust credit cycles. Not analogous to the Internet.