Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
cypherdoc
on 30/12/2014, 18:24:02 UTC
If nothing else for those who view bitcoin as gold2.0 (and I do myself)
What exactly do you mean by "gold2.0"

If by that you're talking about some kind of rarely-moving thing that acts as a store of value without being a medium of exchange, then what you want is impossible and trying to make it happen will destroy Bitcoin.

i think Adam's goals are laudable, ie, wanting to expand the universe of assets traded for Bitcoin.

i just think it's premature and is taking the wrong path.  first, let Bitcoin establish itself as a global reserve currency, as it is currently doing. then, when the market cap is much larger and outsiders have been forced to buy in, natural market forces will force those assets to be denominated and traded in terms of Bitcoin.  this path is highly focused and doesn't require anything more than upgrading Bitcoin on the mainchain, as we just saw with 0.10.0rc1 core and with what Gavin is proposing with IBLT and block size expansion.

of course, this requires more hands off, patience, and developmental discipline which, by my observation, is quite rare in the community.