tag:blogger.com,1999:blog-2595455932654799850.post5915841282158983284..comments2023-11-02T10:55:07.208+01:00Comments on The Monetary Future: Bitcoin: A Universal Complementary Currency?Jon Matonishttp://www.blogger.com/profile/04111660030028727950noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2595455932654799850.post-70642133442434977162012-02-16T14:14:45.196+01:002012-02-16T14:14:45.196+01:00Bitcoin made an error being like digital gold. Bit...Bitcoin made an error being like digital gold. Bitcoins can be stored indefinately, and there is no incentive to spend them. Therefore, whoever can corner a significant part of bitcoins, can make market fluctuations and make speculative profit, like Rotschild with gold in his time.<br />If bitcoind will gain popularity, the current holders of large amounts of bitcoins will be huge winners without effort.<br />People in poor countries do not have access to bank accounts to exchange their currencies for bitcoins. It would be better if the supply of bitcoins was unlimited and every participant could make them for spending with some effort. There would be a balance between the cost of money creation and cost of obtaining it via trade; therefore bitcoin could be fully separated from the official money system.<br /><br />Currently, the increasing costs of money creation give an incentive to "sit" on bitcoins and wait for better times, hampering adoption.Pēterishttp://egleskoks.lvnoreply@blogger.comtag:blogger.com,1999:blog-2595455932654799850.post-10884056395872073382012-01-25T20:30:44.050+01:002012-01-25T20:30:44.050+01:00"...failed mainly because it relied on a cent..."...failed mainly because it relied on a central organization to manage an inventory of gold." that's NOT why e-gold failed, that has nothing AT ALL to do with what happened. In fact, even after prosecution, seizure and more...the value of gold which was held on behalf of customers is still there. The gold not claimed yet is still in the vault.<br />MarkMark Herpelhttps://www.blogger.com/profile/16570867131790072001noreply@blogger.com