Quote from: ponzinomics reloaded on November 10, 2014, 05:55:04 AM

Quote from: sidhujag on November 10, 2014, 05:40:11 AM

Its satoshi first of all and second u wont understand because its like a chess game and bitcoin is 4 steps ahead of u... U need to step back and see trends of decisions by smart ppl

ok, now the arguments please. Other than faith.

Mine are: Asia can create a gold backed reserve currency forcing world governments to do the same, decoupling people's currencies from government's currency. Everybody will want to work for government to get paid in hard currency and cryptos will be the currency of poor people. As long as governments, gold and oil do not disappear, and you do not revolve, cryptos will be the currency of poor people.

Where are your arguments please?

Bitcoin, as is, can only handle up to about 7 transactions per second. As a result, Bitcoin is more likely to become a reserve currency than a currency of "the people".

The reason is that there are many, many poor people, but few banks. If Bitcoin technology takes off within 5 years, poor people will be priced out of the market, while banks will not be.

I have documented how that may happen. Though, I have no formal proof such plans are actually underway.