a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment
AlderaanDuran  ·  3249 days ago  ·  link  ·    ·  parent  ·  post: Is Bitcoin Dead?

    BTC's success will not hinge on the adoption by a college kid that thinks they're cool, but rather by adoption by the corporate world.

Yet without regulation, it's going to be manipulated to hell and back and be everything but what the original anarchist/libertarian adopters wanted. The corporate world and "evil banks" are what a lot of the diehard adopters are trying to get away from, and I think they are in for a rude wake up call when they finally do get involved and start playing the game. Wait til high frequency trading and planned booms and busts start happening in an unregulated stock/currency/speculation market such as BTC. Unlike fiat currency and gold, there is absolutely nothing backing BTC. It's the wild west of stocks/currencies/whatever-you-want-to-call-its.

I like bitcoin, but it's more ripe for corporate take-over than the fiat currency that a lot of the adopters are trying to get away from. This isn't to say it won't be successful, but it's ripe for pillaging.