Quote:
Originally Posted by philiphart
This book is a good few years old, but if you're interested in the problems with our existing currency systems, then it is well worth a read:
http://www.lietaer.com/writings/book...ture-of-money/
I think BitCoin is a fascinating concept that I will be watching closely. The speculative and rapidly changing value at the moment is a bit of a problem. I'd like to see a more equitable currency where somehow every individual is allocated the same starting amount. The speculative nature and growth at the moment doesn't make for a very equitable system or a fairer world.. but I still couldn't resist buying a couple myself.
Phil |
The problem for it to work as a currency is that there was a limited initial amount of bitcoins generated. Lately people saw it as an investment not as a currency and held on to it. So who will accept bitcoins payments in the future knowing that in a couple of months it could be worth only half of what it's rated at now. It's way too volatile to be reliable. It was a great concept originaly but what happened with speculation now killed it as an effective currency IMHO.