Quote from: Vessko on November 05, 2014, 05:33:47 PM

Quote from: Gameroid on November 04, 2014, 12:50:57 PM

Quote from: Vessko on November 04, 2014, 12:47:29 PM

Bitcoin-as-money is a failure. The real innovation that has a bright future is the-blockchain-as-a-trustless-payment-method.

Why are you even here?

Because I find the concept of the blockchain fascinating and, as I said, I think that it has a bright future. So, I want to keep up with the developments in this area.

Quote

What you just said......is not from someone who loves Bitcoin as a concept but thought he might get rich quick.

I don't "love" Bitcoin. I have not invested a single cent in it and do not expect to "get rich quick" from it, either. As I said, I think that the attempt to replace money with it is a failure.

Never forget that Bitcoin is really two things - a currency and a payment method. Satoshi's paper talks very little about it as "money". It talks mostly about how to solve the double-spending problem, how you can have a payment method that does not require you to trust third parties. This is the truly revolutionary idea and this is what has a bright future - the public blockchain as a trustless payment method.

A whole economy can be built on this idea, with neither the producer, nor the consumer ever seeing a single "Bitcoin" as money. For both of them Bicoin can remain some remote, theoretical concept like IMF's SDRs. Behind the scenes, transactions can be transparently converted into cryptocoins (Bitcoin or any other altcoin - doesn't matter) and transferred via the blockchain, crossing international borders. Forcing the consumer to "buy Bitcoins" and spend them is stupid. Forcing the producer to "accept Bitcoins" and then wonder what to do with them and which way the price will go the next hour is stupid. Instead, we should concentrate on building an infrastructure based on the blockchain idea that hides all these technicalities from the transacting parties.

+1