13 Oct '13, 6pm

@davidlee

I think Bitcoin is just a bet that the world becomes more multipolar . In this world, there will be stages of heightened instability and chaos economically and politically. In this world, something like Bitcoin (or “Gold 2.0”) backed by no sovereign makes eminent sense. I think whether it is “legalized” or “outlawed” by the US is almost irrelevant. There can a flourishing Bitcoin economy because of this multipolar world described above. It may turn out to be something like online gambling in the early days. I think if you study Bitcoin, you realize that the currency is an application of the protocol. Bitcoin is actually a chain of digital signatures. Each “bitcoin” is just a ledger of all transactions of that “coin.” In other words, applications that have nothing to do with currency or payments (e.g., like Bitmessage ) can exist. I think Bitcoin will survive and thrive bec...

Full article: http://daslee.me/10-things-i-think-i-think-on-bitcoin

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