Quote:
Originally Posted by danielpbarron
It's sound money. That is all. There is no alternative. It's bitcoin or nothing. It "has the most appeal" to people who want sound money, which is everybody.
If it doesn't have a full node then it can't send "some crypto," and you couldn't send it in a text message anyway. The thing you are describing could work just as well with dollars; it's not like bitcoin is the reason you can now authorize money transfers with your cell phone.
This sums up the crux of my argument. Bitcoin is strictly money. The "whole new technology" is strictly for money. It's not a good system for anything else. You are parroting U.S. government propaganda by suggesting otherwise. Bitcoin as a " technology layer" is not a threat to the dollar. Seeing that there is no hope in re-bagging the cat, their narrative has shifted from "it can't work" to "we can use this" -- a neutered version with all the flair of a revolutionary technology, but none of the potency to end socialism once and for all. |
Your right in the fact that fiat currency could be used with a text messaging system. But then it would be centralized, you would need a central server to control it all and thats the whole point of bitcoin. Its like peer 2 peer money.
The other problem would be the fee's. The banks are ripping everyone off, 30$ to cash a cheque, wait 3 days or a week or even more. Then by printing off so much money we have massive inflation, so your $100 next year is really only worth $95 - In reality its worth even less if you take into account other factors.
So if the banks did ANY innovation, or had ANY competition - we might see new services and competitive pricing. But again if you centralize anything, you have room for corruption.
And as for bitcoin just being money, that shows a simplistic view of the system. I had the same thoughts, until i really looked into it.
Their are currency exchanges built onto the system, it can be used for p2p file sharing, p2p, crowd funding, tipping online, micro transactions and micro payments, games are built onto it casinos.. i could go on and on. And its early days. Their are many technical problems to be solved, but in my opinion this is only going to get bigger.