17
18

We're going to need a bigger boat (self.bitcoinxt)

forgoodnessshakes が 投稿

Thinking about why bitcoin adoption is slower than everyone would like, we may have underestimated the size of the adoption challenge (and reward).

People were slow to appreciate email, but it got adopted, and then VOIP came along and revolutionised Telecoms. Both of those were massive, but they are tiny compared to money. Money has been with us for hundreds of thousands of years, everybody uses it, even people who have never seen a telephone or the Web.

Example 1: What would it take for the UK to adopt the World practice of driving on the right? Answer: Too much, it's never happened and not likely to. It can't even agree on the same fiat currency as Europe.

Example 2: Why doesn't the US adopt the World metric system? Objectively it has several advantages, but the US is nowhere near making the change and not likely to. It doesn't even have a standard gallon or ton.

Money is several others of magnitude larger than either of those problems. It is all-pervasive. You can live without a telephone but you can't live without assets. Changing to bitcoin might be a trillion times more difficult than changing to metric, if you consider there are hundreds of trillions of dollars of financial instruments in the US alone!

Peer-to-peer finance and cross-border transfers are the merest pre-echo of the actual 'Grand Projet'. The most exciting part is yet to come, I hope you live long enough to see it. We aren't the early adopters. The early adopters haven't even come into the market yet.

That's why financiers don't take a couple of billion dollars cap. seriously and governments regard us as hardly large enough to bother legislating over. This market is HUGE.

We don't need a moon rocket. An alt-coin needs a moon rocket. Rockets are fast, noisy but short-lived. We've been there, done that. We're going to Andromeda, baby. We need a ion-powered starship.

全 20 件のコメント
並べ替え:
ベスト
トップ新着論争中古い順Q&A

[–]Noosterdam 6ポイント7ポイント  (6子コメント)

You're right about the enormity of the change, but unlike standards such as driving on the left in Britain, with Bitcoin there are advantages to adopting it before others do. And if you yourself don't have a use for Bitcoin yet, you can also advance it just by investing in it. Even government operatives have reasons to use it and/or invest in it.

[–]forgoodnessshakes[S] 0ポイント1ポイント  (0子コメント)

You're right that which side we drive on is an 'all-or-nothing' issue which hinders adoption. This makes it a different type of problem.

Adopting a new currency or measurement system can be done one person at a time but Americans still seem to think Fahrenheit is no worse than Celsius. The UK only changed to metric measurements and currency because it was forced to, to do business with the EU (with lots of wailing and gnashing of teeth). Only afterwards did we realise it was better. Inertia is almost insuperable.

[–]theskepticalheretic -2ポイント-1ポイント  (4子コメント)

Even government operatives have reasons to use it and/or invest in it.

Thus far the only use I've seen from government operatives is stealing it from Silk Road seizure pools.

[–]Noosterdam 2ポイント3ポイント  (3子コメント)

Yes, that's a perfect example. If such people have influence to change laws to be more lenient on Bitcoin, what do you think they will do? They won't want to cut off the gravy train.

[–]theskepticalheretic -2ポイント-1ポイント  (2子コメント)

Yes, that's a perfect example. If such people have influence to change laws to be more lenient on Bitcoin, what do you think they will do? They won't want to cut off the gravy train.

Your assumption that all law enforcement is corrupt grants you access to the much lauded tinfoil hat award.

[–]Noosterdam 2ポイント3ポイント  (1子コメント)

Did I say all? It's not necessary for it to be all anyway. Just a sizable number.

Justus Ranvier made an interesting post about government corruption and Bitcoin yesterday:

https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-48#post-1758

[–]theskepticalheretic -2ポイント-1ポイント  (0子コメント)

We have one example of theft of bitcoin by a government official. Therefore, it is 'good for bitcoin'. That's what you're indirectly saying here.

[–]grabberfish 4ポイント5ポイント  (3子コメント)

The world practice of driving on the right? It's a lot more than just the UK.

[–]fucknozzle 1ポイント2ポイント  (0子コメント)

Besides which, it's nothing to do with any kind of agreement, it would cost billions and we'd all have to buy new cars.

The reason, and it might just be the same reason the OP is failing to see with Bitcoin, is that nobody sees any benefit in doing it.

[–]infected_scab 1ポイント2ポイント  (0子コメント)

India? Australia? Japan? Ireland?

[–]StressOverStrain 0ポイント1ポイント  (0子コメント)

It may be biased by land area, but it looks like left-hand traffic is in the minority here. By numbers it's 75 that drive on the left, and 161 that drive on the right.

[–]americanpegasus 4ポイント5ポイント  (0子コメント)

I totally agree with you. Don't forget that the internet began as four interconnected computers, and it took over a decade to reach 1000 interconnected computers. Now it dominates the world.

Cryptocurrency's expansion will happen faster than that, because all tech revolutions happen quicker than the last.

The scope of money (and by extension cryptocurrency) is huge and there will most assuredly be more than a single all encompassing blockchain.

It is unlikely that bitcoin will be able to serve the entire human race, even in its "XT" version. I suggest you look into some of my side projects; you might find something you will be interested in.

[–]lucasjkr 2ポイント3ポイント  (2子コメント)

Money has been with us for hundreds of thousands of years

Hundreds of thousands of years, you say?

[–]IGETSHIVERSWHENIP 0ポイント1ポイント  (1子コメント)

Cromagnon bankers were ruthless.

[–]lucasjkr 0ポイント1ポイント  (0子コメント)

And that fractional reserve banking, creating mammoth tusks out of thin air... bankers were probably looked at like evil wizards, quite rightfully.

[–]cbeastHoneybadger doesn't do drama. 1ポイント2ポイント  (0子コメント)

It's fear, plain and simple. People don't get super rich by taking risks. Sure a few get lucky and make a few bucks, but billionaires get their money the old-fashioned way, by screwing people. They don't want transparency and hide behind many layers of obfuscation without exception.

Bitcoin isn't worth anything. I am so sick of the fear mongering and truly believe Bitcoin-XT or a better version of it will finally allow the bold movers and shakers to leave the scared little crybabies behind with their playroom bittoy.

[–]Ant-n 0ポイント1ポイント  (0子コメント)

You right, adoption might be slow but I still think it's some what inevitable,

I read a bit about e-gold to have some clue on how fast a crytpo might grow. (Even if e-gold is very different from bitcoin from bitcoin I thought it can give a bit of an idea about it)

The e-gold system was launched online in 1996 and had grown to five million accounts by 2009, when transfers were suspended due to legal issues. At its peak in 2006 e-gold was processing more than US$2 billion worth of spends per year,

[–]wonderkindel 0ポイント1ポイント  (0子コメント)

We don't need a moon rocket. An alt-coin needs a moon rocket. Rockets are fast, noisy but short-lived. We've been there, done that. We're going to Andromeda, baby. We need a ion-powered starship.

So far all I've seen is bottle rockets and roman candles.

[–]Onceasmoker -2ポイント-1ポイント  (0子コメント)

Damn, you're delusional.

[–]NoThisIsActuallyGood -2ポイント-1ポイント  (0子コメント)

Absolute nonsense. Bravo.