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Old 05-16-2011, 06:55 PM   #18
Scooby Guru
Member#: 124113
Join Date: Aug 2006
Chapter/Region: NESIC
Location: Rich Coast
Pura vida!
Yellow V standing by


It's interesting and seems to be entirely based on the belief of bitcoin value in that there's no exchange rates such as dollars to Euros. I know you could attempt to say that about dollars, but we know that if we bring cash to the store we can buy goods. If someone wants to send me 5 bitcoins for a guitar but I think bitcoins are rubbish, then it's a worthless system. They really have to get people to believe in these having any sort of value for them to be adopted in any real sense. Otherwise, it's all arbitrary.

Not having an actual account held anywhere but your hard drive is scary, too, with how often people recycle computers, hard drives fail, etc. If your bank account disappeared every time your computer **** the bed, you'd probably not use that bank account.
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