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A comment on Blockchains Considered Harmful: Is Brute-Force Processing Replacing Good Design?. Parent comment

Re:Blockchains Considered Harmful: Is Brute-Force Processing... by xg15 on Wednesday November 01, 2017 @08:02PM (#15606668)
I'm with you, only I kind of wonder how many people actually see them as actual currencies. In any case I don't think that prospect is what is fueling the current hype.

I remember an article a while back that was arguing that Bitcoin is currently undecided whether it wants to be a currency or an asset. Currently, coins seem to be treated mostly as assets and I don't see indicators of that changing anytime soon.

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Re:Blockchains Considered Harmful: Is Brute-Force Processing... by feedjoelpie on Wednesday November 01, 2017 @08:12PM (#15606730)
IMO the problem with Bitcoin as an asset, over the long term, is that its proponents' nearest comparison is gold. Gold has at least _some_ intrinsic value, and more importantly it has millenia of history as both an asset and a means of exchange. If Bitcoin doesn't get off of Proof of Work, it's entirely plausible that it will be superseded by a Proof of Stake coin that has more utility.

Which is not even to mention my most cryptocurrency-controversial belief: Gold is the only deflationary asset that might not flash-crash into non-existence as a hoarder favorite.

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