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A comment on A Prediction: Bitcoin Is Doomed to Fail. Parent comment

Re:A Prediction: Bitcoin Is Doomed to Fail by DrJokepu on Wednesday November 27, 2013 @07:03PM (#6812168)
In addition, there are various measures a government or a central bank can take to stop or at least slow down escalating inflation. If there was a sudden loss of confidence in BitCoin (or more realistically, people lost confidence in other people’s confidence in BitCoin), such hyperinflation would spread and escalate with the speed of light with nothing to stop it. This kind of volatility might be interesting for speculative investment purposes but not incredibly useful as currency.

Then again, it’s entirely possible that we will be proven wrong.

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Re:A Prediction: Bitcoin Is Doomed to Fail by alttab on Thursday November 28, 2013 @12:01AM (#6813098)
The bitcoin price won't stabilize until it's operation literally dictates demand.

Once for all practical purposes everyday life is handled in satoshis, how does an economy expand?

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Re:A Prediction: Bitcoin Is Doomed to Fail by eru on Thursday November 28, 2013 @06:08AM (#6814050)
Just like gold standard economies expanded in the 19th century?
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Re:A Prediction: Bitcoin Is Doomed to Fail by alttab on Friday November 29, 2013 @12:47PM (#6820292)
How was that? Not being snarky, I'm just wondering what you mean.
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Re:A Prediction: Bitcoin Is Doomed to Fail by eru on Monday December 02, 2013 @03:15AM (#6832461)
I'm not sure how to answer that question. An answer would either be horribly generic or extremely long (or both). I suggest you start reading some history books (or just start on Wikipedia).

Basically, a full bitcoin economy is a bit like an economy on a gold standard. Not perfectly, since gold is still being mined, and the rate of mining depends on its price.

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Re:A Prediction: Bitcoin Is Doomed to Fail by alttab on Friday December 06, 2013 @01:20AM (#6859713)
Ok im following you. Maybe the differentiator is the divisibility of coin vs gold, and transferability.
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