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A comment on Bitcoin Is Fundamentally Flawed. Parent comment

Re:Bitcoin Is Fundamentally Flawed by chipsy on Monday April 08, 2013 @04:04PM (#5514170)
IMHO, this isn't a failure. We know that it's not going to be a business-as-usual currency. Easy credit is an incentive for business; inflation is an incentive for consumers. Governments have much better control over that.

BC is better understood as a commodity market with a simpler financial instrumentation. Instead of trading contracts for goods, you are able to trade the good itself, at internet speed and scale. That's a big innovation and we've only started to realize the consequence of it.

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Re:Bitcoin Is Fundamentally Flawed by betterunix on Monday April 08, 2013 @04:12PM (#5514222)
Except that Bitcoin is not a commodity (as the term is commonly understood) because it has no use other than as a currency.
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Re:Bitcoin Is Fundamentally Flawed by BerislavLopac on Monday April 08, 2013 @04:23PM (#5514299)
Which only means that its value can drop to zero, unlike other commodities.
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Re:Bitcoin Is Fundamentally Flawed by dcc1 on Monday April 08, 2013 @04:48PM (#5514485)
Actually bitcoin is great for laundering, so it will always have "some" value
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Re:Bitcoin Is Fundamentally Flawed by betterunix on Monday April 08, 2013 @04:58PM (#5514565)
Only as long as there are legal uses for it; otherwise, it is as good as laundering money by buying and selling cocaine.
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Re:Bitcoin Is Fundamentally Flawed by kruhft on Monday April 08, 2013 @04:27PM (#5514334)
It creates discussion. That has to have some value on the internet, especially for ad based sites.
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Re:Bitcoin Is Fundamentally Flawed by metaeaux on Tuesday April 09, 2013 @12:06AM (#5516388)
http://blog.oleganza.com/post/42262765318/direct-use-value-o...
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