Post
Topic
Board Securities
Re: [GLBSE] Diablo Mining Company (DMC)
by
BinaryMage
on 22/04/2012, 01:13:58 UTC
I'm a full proponent of online currencies, but the probability of Bitcoin still existing in 83 (or even 17) years is quite frankly abysmal.

I'm sorry, but they'll stay around as long as people value them and are willing to trade with them. I'm pretty sure it could live on more than 20 years, even if that means a large devaluation. It has become a convenient payment method for many people online (still low compared to other payment processor, but for such an odd concept, I still find the adoption impressive). It's possible they'll be gone by then, but I don't think their chance of surviving that long is even close to as grim as abysmal.

I never stated that online currencies had an abysmal chance of survival, I said that Bitcoin did. Lot of difference between the two.

You're sorry? I think Bitcoin is a wonderful idea; if I didn't I wouldn't be here. But I also think that, due in most part to exponential technological advances, Bitcoin's model, most specifically the method of transaction verification, is unlikely to remain secure for 83 years. Surely you don't disagree with that?