A Prediction: Bitcoin Is Doomed to Fail

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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