Quote:
Originally Posted by dyna mo
the value of bitcoin is it proves the concept works. people will embrace digital currency. purely digital transactions can be made without middlemen or paper changing hands. people agree that it has value as a currency and agree to establish that value often.
bitcoin has also revealed some issues in cryptocurrency concept, namely, that mining btc isn't going to work. it also has been shown to not be truly anon as the block chain can be dug into to retrieve transaction records.
bitcoin is not going to be the crypto currency of choice, it will fail, die, end, whatever.
but the proof will remain.
at least that's my take on it.
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Oh, okay. Thanks. Now I understand what you meant by proof of concept. I thought you were specifically relating it to
Bitcoin (as other people seem to do), rather than the concept being used for other currencies.
I also believe the concept, or at least similar concept, will be used somehow in the future, but I probably thought that anyway, long before Bitcoin. I mean cyber currencies are not a new idea, it's just the implementation that's different in this case.
I don't believe it will spring out of 'the underground' though, and it will be the usual suspects who create and control it.