Quote:
Originally Posted by dyna mo
josh, i hear ya, thing is, if this is the cryptocurrency that does take off, that parabola is on a long timeline eh.
also, checkout this brand new beta open source p2p payment gateway that supports btc and their goal is to be the best way to buy and sell/exchange btc,
Simple, global, open, and practically free. ripple is an open source person to person payment network
https://ripple.com/bitcoiners/
it's a paypal for cryptocurrencies. this sort of infrastructure will go a long way to helping this maintain momentum imo. |
How will that momentum be "maintained" when 1000 other people start 10,000 similar currencies? What is the value of bitcoins when there are 10,000 similar currencies? What is the value of a bitcoin when its realized that anyone can just randomly wake up and start a currency using open source software and people are doing it daily? What is the value of a bitcoin going to be when millions of people lose money on similar currencies?
Money is religion. Nothing more. It's a deity in a sea of deities. It's faith. The value of a piece of paper lies in the understanding that others will accept that it has that value, both today and in the foreseeable future. Nothing more. Sharing or not sharing the same beliefs in the same deities does not make those deities more real or imagined, more stable or more unstable over the long term.