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Old 05-16-2011, 06:54 PM   #17
Star*Child
Scooby Specialist
 
Member#: 5659
Join Date: Apr 2001
Chapter/Region: NWIC
Location: 127.0.0.1
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Basically you are trading "huge magic numbers". Since there are only a limited number of "solutions/coins" that fit the definition parameters, there is a potential market surrounding it. As long as enough people agree upon the value, this has potential to impact the use of regular currency.

Quote:
Originally Posted by Kebo View Post
It's not going to 'take off', for a couple reasons.

-It will be 'hacked' or otherwise undermined.
-Like everything else on the internet, as soon as it becomes remotely popular, alternative 'Bitcoin' type services will become available, each competing and stealing business from another.
-Obligatory no one cares about nerd money reason.

Question...how and why is this at all dangerous?
This is dangerous because it threatens the power base of the people who REALLY pull the strings. Every day, a group of people are making money off of each and every transaction taking place. This system seeks to impact that by creating a "cash" system for the future.

It's bit-torrent for money. There is no way to freeze accounts or stop the flow. I can give you something of value to someone on the other side of the planet with no one in between to monitor where it either side of the transaction took place or the real locations or identities of either party.

This is pretty huge.

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