
Jack Dorsey expects Bitcoin to become the world's 'single currency' in 10 years - pdog
https://www.cnbc.com/2018/03/21/jack-dorsey-expects-bitcoin-to-become-the-worlds-single-currency-in-about-10-years.html
======
bazzlexposition
99% of people have never used bitcoin for a single meaningful transaction,
have never purchased groceries, or clothing, or anything for that matter with
bitcoin. I am supposed to believe people are going to abandon cash in the next
10 years?

What benefits does bitcoin provide to a normal person just trying to buy
groceries or fill up their gas tank, zero.

~~~
FroshKiller
Over half the world's wealth is held by 1% of the world's population. You must
adjust your definition of "meaningful." It doesn't matter whether anyone buys
groceries with Bitcoin. It hardly matters today whether anyone uses cash. If a
handful of entities decide to handle their transactions with Bitcoin in lieu
of traditional currencies, the majority of the world's wealth will change
hands in the form of Bitcoin regardless of what most people ever do at the gas
tank.

~~~
bazzlexposition
Wealthy people have been using different stores of value to trade for many
years, whether it is stocks, commodities, real estate, or bitcoin. Regulation
will come, the transaction costs are going to rise. In the end it may just be
a vehicle for wealthy people to trade, because for small transactions it is a
hindrance, not a help.

What tangible benefit does bitcoin provide over normal currency?

------
cup-of-tea
There are two possibilities here:

* Jack Dorsey has no technical knowledge about Bitcoin, or

* Jack Dorsey invested in Bitcoin and wants his money back.

~~~
justboxing
There's a 3rd. Mention that you are doing something with Bitcoin /
"BlockChain" and watch your stock soar![1]. Several companies including Kodak,
Overstock, RIOT have used this strategy recently to very positive effects (
50% or more in stock price increase in like a couple of days after mentioning
blockchain or adding it to their name like RIOT Blockchain did)

[1] Source: [https://www.bloomberg.com/news/articles/2017-10-27/what-s-
in...](https://www.bloomberg.com/news/articles/2017-10-27/what-s-in-a-name-u-
k-stock-surges-394-on-blockchain-rebrand)

------
myegorov
This scenario is clearly not in the interest of the incumbents in the world of
currency (US$, Euro). It's conceivable, however, that because of geopolitical
wars some other state -- with enough clout and whose income can be ensured by
means other than taxation (Russia or China perhaps) -- adopts some
cryptocurrency wholesale, with a view to disrupting the financial markets.
It's quite implausible that the sponsored choice would be Bitcoin though.

------
untog
It's telling that there are no reasons listed for _why_ it will. It's like
there is this belief that cool, innovative tech will succeed solely because
it's cool and innovative.

What problem would it solve for me as an end user? It's really not at all
clear.

------
thisisit
Dupe:

[https://news.ycombinator.com/item?id=16637190](https://news.ycombinator.com/item?id=16637190)

