
Bitcoin-Only Economies - sidko
http://btcgeek.com/bitcoin-economies/
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seventytwo
I don't think bitcoin will ever be used as an actual currency because of it's
built-in deflation. Deflation promotes speculation and hoarding of money
(coin), which is absolutely the opposite of what you want in a functioning
economy. I don't see any of the deflationary coins ever gaining traction as an
actual currency, capable of supporting a market. On the other hand, the
bitcoin protocol may prove to be useful in the future, and a more mature
version of it very well may usurp the existing monetary system. I do believe
we're a ways out from that at this point in time.

I think bitcoin, as a currency will fail eventually, but that the protocol
itself and the encryption methods will evolve. The benefits of being
distributed and efficient are too great to be ignored, but there's a lot of
revision to be had.

