bitcoin as a global medium of exchange (was Re: Interesting take on Sanjuro's Assassination Market)

[Jim Bell]

We can certainly agree on that!  The new currency should be as anonymous as Zerocoin.  (I can think of an application that will require robust anonymity.)
             Jim Bell



________________________________
 From: David Vorick <david.vorick at gmail.com>

I have faith that additional cryptocurrencies will be launched/released that are substantially better and different from bitcoin. Bitcoin is just the beginnning, and ultimately I don't think it will make more than a few years farther before there is an unquestioned replacement.




On Tue, Nov 26, 2013 at 1:53 AM, James A. Donald <jamesd at echeque.com> wrote:

On 2013-11-26 11:43, David Vorick wrote:
>
>Andy, the problem isn't the denomination, the problem is that Satioshi
>>has 5% of all the currency, and the Winklevoss twins have another 0.5%.
>>If bitcoin becomes worth 100 trillion dollars, they've got a solid 500
>>billion for being nobody and doing nothing. That's a problem to me.
>>
>Five hundred billion for freeing the world financial system from US domination without bloodshed.  Sounds mighty cheap to me.
>
>I am, however worried that bitcoin can be dominated by a small group. As the total transaction volume increases, the number of people that are full and equal participants in recording and facilitating transactions must diminish.
>
>This was my original objection, scaling failure, way back in the beginning, and it is now coming true.
>
>But even if my worst fears are realized, that is still a whole lot better than what we have now.
>
>
>
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