OpenRuby.com

24 Jan '13, 10am

"we WILL see Bitcoins come to dominate the currency markets to the exclusion of all other currencies." #Money #gold

There’s quite a few missteps in your article, but they add up to merely less complete support for a correct conclusion. I’m not yet an expert on it, but there’s a few myths I’ve seen – in these comments as well – that require little specific knowledge of Bitcoin to debunk. 1. It has to “take over the world” to be successful. No, it has to meet some of the needs of some number of people, and do so in a sustainable way to be successful. If 500 people happily use Bitcoin for decades, it’s quite successful. 2. It has to be better than **insert favorite commodity here** to be useful. No, it has to meet some of the needs of some people to be useful. Nobody needs to give up their gold for Bitcoins, and nobody needs to give up their Bitcoins for gold. Things are valuable because they are useful for a purpose. “Trade” is not a purpose, it is a class of varied but related purposes, ...

Full article: http://www.libertariannews.org/2011/06/06/libertarian-gol...

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