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post #51 of 55
Anyone else think Bitbill might have been a more fitting name?
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post #52 of 55
i think the world could use a "world currency" but is bitcoin that thing? im not really too familiar with bitcoin though i see so much about it all over the net
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post #53 of 55
Quote:
Originally Posted by eosgreen View Post

i think the world could use a "world currency" but is bitcoin that thing? im not really too familiar with bitcoin though i see so much about it all over the net

I don't think so myself. Regardless of it's stability, it's value is completely out of proportion with common currencies. There's a negative effect on one's psychology when they are receiving such a small fraction of a denomination for otherwise tangible goods/services/labor.

Worth is deeply rooted in our survival instinct, so I figure things like this are a much bigger factor in the choice people make about using such a currency than might be initially thought.

I guess what I'm trying to say is, people prefer bigger numbers over smaller ones. That might seem too simple for some, but can you really argue with it?
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post #54 of 55
Quote:
Originally Posted by CyberWolf575 View Post

Bitcoins have no palce in an actual world economy. Sorry, but a digital currency is stupid. If you think it was easy to counterfeit currency before...well think think again.

What makes you think real world currency is all in cash? The dollar is backed by nothing and US notes accounts for less than 1% of the paper money in circulation. The money in your bank is just a bunch of 0s and 1s. Cash is nothing but a tangible form of those 0s and 1s and every bank keeps enough notes for daily transactions.

Google/Wiki on a crash course of what Fiat Currency is.
post #55 of 55
Quote:
Originally Posted by CyberWolf575 View Post

Bitcoins have no palce in an actual world economy. Sorry, but a digital currency is stupid. If you think it was easy to counterfeit currency before...well think think again.

http://www.overclock.net/t/1404046/digital-currencies-and-digital-transactions-in-the-digital-world
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