Quote:
Originally Posted by BlackCrayon
my point was that people on both sides can say some pretty stupid things. i'd still argue that its not a more solid form of money currently. it fluctuates too much. my $1 can buy a loaf of bread today and tomorrow whereas bitcoin might cost me more or less from one day to the next. i'm sure there will be a government backed virtual currency that comes out eventually.
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the exchange value is irrelevant to solidness of technical aspect of the network and its protocol. Bitcoin network processes transactions the same way whether bitcoin evaluates at $1 or $1,000.
the seemingly stable dollar used to be able to buy a loaf of bread for a few cents if not for a penny back in the day, you and I don't remember that and it is kind of irrelevant to us what the prices and purchasing power were before our time. although the dollar is sort of the same, the loaf of bread is sort of the same, only 100 years later the same loaf of bread costs what, 100-500 times more. and your grand grand kids wont be able to buy a loaf of bread for the same price you pay today.
*IF* once bitcoin gets its momentum and stabilizes with significant volumes and value and more commercial use instead of speculative trading, then we'll see how dollar fluctuates and its dynamics of weakening value when paired against with bitcoin. for now it seemingly stable being world's reserve currency, everything is pegged to it. we pray china won't dump their usd and mainly other US securities. else the bread could end up costing hundreds of solid dollar bills not to mentioned global crisis, depression, civil unrest.