Quote:
Originally Posted by PornMD
Collapse simply doesn't happen to normal currencies - maybe 3rd world ones like Zimbabwean dollars, which now are at least useful as toilet paper. When bitcoins are worthless, you can't even wipe your ass with them.
|
Quote:
Originally Posted by TheSquealer
At the end of it all, what makes one currency preferred over another? One word...stability. That again is something that can change in milliseconds online as its fickle perceptions and beliefs of the mob that determine the stability of a currency.
|
thoughts on cyprus? currencies can hit the fan these days. according to officials, the dollar was going to collapse if we didn't jam a few trillion newly minted ones into the system and fast back in 2008.
nevertheless, btc has a $billion dollar market cap, that's nothing. heck, visa prolly transacted a $billion in the time it takes me to write this sentence. a billion is cool to 20 year old internet dudes, a billion can and has been wiped off the record books in seconds, in the virtual world and the real world
certainly btc is still very tiny in contrast to the system and obviously a very risky proposition. but anything can collapse/needs stability to survive, i totally agree.
/