Re:The truth about the Bitcoin Foundation
by kang on Saturday April 04, 2015 @04:39PM
(#9322120)
He said it unreliable for financial transactions as demo'd by the fork. I said I agree but it is worth something even today as evident by the money people store in bitcoin already.
[ Parent
| on HN ]
In the larger scheme of the economy, virtually nobody uses Bitcoin for transactions.
Yes you are right. And that is not of importance to me. I don't even care if bitcoin dies. Lets talk blockchain.
In the larger scheme of the economy, virtually nobody uses blockchain technologies for transactions.
yet.
Lots of people do lots of stupid things with money. The current $3B market cap of Bitcoin is a tiny fraction of the $64B that Madoff Investment Securities made off with (and cryptocurrency market cap is an extremely generous measure to use to compare to that value). And that's hardly a reason to claim that making Bernie Madoff trustworthy is difficult but not impossible.
Only because you are lucky enough to see this so early. And I don't care if bitcoin dies but what I meant there was the market cap of cryptocurrencies; that will rise beyond many Madoffs because even the Madoffs would use it.