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Price now $174. Higher than it was a couple days ago and people are declaring doom and gloom = LOL. [quote user="baxter"]It looks like a good deal to dump BitCoins and buy up LiteCoins instead. They are only like $3 now.[/quote] Mmm, no. Bitcoin has already won the adoption war. [quote user="baxter"]It sounds like all the miners
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Bitcoins -are- scarce, and creating an alt-currency copy doesn't suddenly magically produce more bitcoins, it only affects that alt-currency. Furthermore, having more than 21m coins isn't automatically a benefit to anyone, so it doesn't constitute a reason to prefer that over an established cryptocurrency.
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I thought the most interesting part of the piece was his explanation of bitcoin's commodity value. It would be interesting to see you, SD, address that explicitly. In reaction to that point of his you point us to this link: https://smilingdavesblog.wordpress.com/2011/12/21/one-more-detail-about-bitcoin/ Which doesn't address commodity value
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This is a particularly well-written and thought-out piece, makes some clean insights on bitcoin. In fact, this is the article that will finally make Smiling Dave recount, see the light, apologize to everyone for his mistakes, and buy some bitcoin ;) http://konradsgraf.com/blog1/2013/2/27/in-depth-bitcoins-the-regression-theorem-and-that-curious-bu.html
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All I'm willing to tell you is that I've spent 102 of my 141 bitcoin.
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" BitPay Inc, the world’s leading payment processor for bitcoin, announces it has processed over $5.2 million in bitcoin transactions for its merchants during the month of March, with over 5,100 completed invoices during the month. The pace accelerated with over $3 million in transactions during the final 8 days. This eCommerce activity from
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What's Driving the Bitcoin Revolution: Why $100 worth of Bitcoin is worth more than 100 US Dollars
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SDave, let's say the dollar fails one day and people begin using bitcoin primarily. Will you refuse at that point to use bitcoin, for the rest of your life?
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*coughsockcoughpuppet*
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Use bitcoin with Bitspend?