Quote:
Originally Posted by SlammedMedia
That's like saying there was Microsoft, so there was no chance for there to be Google.
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Not really, Slammed.
My point is that 'currency' in general is an already monopolized idea and very controlled by the very powerful people who've been at the top of the monetary system since the start. Wars have been fought and people have died for attempting to outdo the system we know now.
I'm not saying that bitcoin has no chance, nor any other digital currency. I'm saying that unless the currency itself is introduced and supported by the already established system, it stands little to no chance in the long run.
Every dollar you have in your bank account belongs to someone else, because what backs it belongs to someone else. Bitcoin and friends are backed by ideals, not tangible valuables like the monetary system we all know.
I might be way off base, and if that's the case I'll admit it. But Bitcoin is the equivalent of building a shed next to a mansion and assuming that it's worth more than another shed simply because it's built next to a mansion. The mansion is what's worth money, the shed is pretty much worthless unless you can get someone to buy into the idea that it's not. Meanwhile, the guy who owns the mansion has the power to burn down the shed, with the support of all his friends and build his own shed.