CORRECTED-Bitcoin true believers unfazed by losses in Mt. Gox collapse

Comments (3)

I agree with the analogy re the motor car. In a way this has happened for the better because it has clearly highlighted a problem which has now been resolved i.e. double spending. The concept of de-centralised virtual money is amazing and it WILL change the way we use money as more and more businesses and people accept crypto-currency. I predict that in 20 years from now the banking system will be completely different. Indeed, the cracks in the banking system are already appearing as they have reached an all-time low. Bitcoin IS the future of money.

Mar 07, 2014 4:01am EST  --  Report as abuse

LOL @ Bitcoinman below…

This guy is just another idiot trying to make a quick buck off his couple of bitcoin. When you have no experience in banking or finance, you can’t go around saying what you think the world banking system is going to be in 20 years. You honestly think that all world economies will crash and all that will be left is Bitcoin? Give me a break and get a life.
Ps, your screen name says it all

Mar 07, 2014 12:22pm EST  --  Report as abuse
banerjek wrote:

If it’s the future, it will need to be much more practical. Currently, it takes about 10 minutes for a transaction to complete and everything is appended to the blockchain of which there are copies all over the place.

Given that right now, hardly anyone uses bitcoin at all and it’s treated more like a commodity than a currency (hence all the focus on what it’s worth rather than what you can do with it), it’s hard to imagine it would be able to function even if issues like key management for regular human beings could be worked out.

I find it amusing that the recommended way to store digital cash is offline — even printed on paper. This stuff is possibly more dangerous than cash and it’s certainly less useful.

Mar 07, 2014 1:25pm EST  --  Report as abuse
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