Quote from: btcbug on July 16, 2016, 03:26:23 PM

Quote from: BitCinderella on July 16, 2016, 02:51:22 PM

Quote from: btcbug on July 16, 2016, 02:24:58 PM

Quote from: RealityTruth on July 15, 2016, 05:04:09 PM

bitcoin is a netscape of digital currencies. there will be more advanced central bank coin in the future with regular people mass adoption which you can actually use at grocery store

IMO that is practically irrelevant.

Gold exists and it's not an accepted form of money, but almost exclusively used as a safe haven asset. There is $8 TRILLION invested in Gold.

If people use FiatCoin in the future there is still a case for an alternative safe haven crypto asset (BTC). If BTC reaches 2% of Gold market cap then we're at $10,000 BTC.

If 1 bitcoin is worth $10k, it will cost (1800 bitcoins mined per day) x ($10,000 per bitcoin) = $18 million per day to secure the bitcoin network at current level.

Eighteen million dollars every day, six billion five hundred seventy million dollars per year, forever and all time. Doesn't seem practical Undecided

Seems like a large amount I agree, but in the grand scheme it's still a drop in the bucket.

For a global payments system and store of value that 8 Billion people can potentially benefit from? I think money has been spent in far worse ways.

Didn't you say FiatCoin will be the global payment system, with BTC being an "alternative safe haven crypto asset"?
Bitcoin makes a pretty poor "global payments system," it can process 7 transactions per second max. That's enough for maybe two US shopping malls. On a slow day.

BitCinderella

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