Bitcoin.org's Gavin Andresen on Open Source and Escrow
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Bitcoin.org's Gavin Andresen on Open Source and Escrow
1–10 of 22 posts
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#2I think we've had enough Bitcoin for a while.
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#3BitCoin is damn interesting, it has the potential to dramatically change the world.
I hope it takes off. I think it will though, since the early adopters have a vested interest in growing the currency (there never will be more than 21 million BTC in circulation, so acquiring 1000BTC now will never be less than 1/21000 of the currency no matter how popular it becomes).
New exciting things are happening daily on the BitCoin front: http://www.bitcoinnews.com/
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#4I think we've had enough Bitcoin for a while.
Well, bitcoin seems to gain fans pretty fast. Some people are extremely fanatic about it. Especially libertarian-type people. I highly doubt that the phenonemon will slow down any time soon.
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#5I think we've had enough Bitcoin for a while.
Yes, it's enough to talk about probably the biggest invention in financial sector in last 20 years. Let's forget all about those calls for entrepreneurs to focus on something more world changing than iphone widgets.
If Bitcoin isn't just a definition of a word "hack", and the most ingenious hack i have ever seen in financial sector which is in serious need of disruption.
Lets better read and talk about Steve Jobs'es new book and the how new ipad is better than older and Ipad.
Why tumblr is the new wordpress...
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#6BitCoin is damn interesting, it has the potential to dramatically change the world. I hope it takes off. I think it will though, since the early adopters have a vested interest in growing the currency (there never will be more than 21 million BTC in circulation, so acquiring 1000BTC now will never be less than 1/21000 of the currency no matter how popular it becomes). New exciting things are happening daily on the Bi…
Where does BitCoin's value come from?
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#7I think we've had enough Bitcoin for a while.
No kidding. These people are worse than goldbugs, who at least have the largely unalterable and easy-to-understand physical properties of an element on their side.
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#8BitCoin is damn interesting, it has the potential to dramatically change the world. I hope it takes off. I think it will though, since the early adopters have a vested interest in growing the currency (there never will be more than 21 million BTC in circulation, so acquiring 1000BTC now will never be less than 1/21000 of the currency no matter how popular it becomes). New exciting things are happening daily on the Bi…
Where does BitCoin's value come from?
It comes from the same place as all other currencies, the people's willingness to take it.
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#9I think we've had enough Bitcoin for a while.
I'm sorry for the rant above, those type of comments get me quite emotional.
I would like to point out some things why Bitcoin and especially Gavin Andresen is so interesting:
1. Gavin is a real forward thinking entrepreneur/hacker who is actually not just trying to make headlines to get venture funded, but is actually quietly building infrastructure for his own startup.
2. If his startup fails, we still get the infrastructure (Bitcoin), public gets enormous value even when/if his startup is dead. Thats quite alot of differrence from startups like cuil or colour, where they burn money (value) and almost nothing is left after the failure, except for cautionary tale how not to do things.
3. Bitcoin (if successfull) brings alot competition to financial sector, and if it gains any significant traction it could change the monopolistic practices of currencies issued by nation states.
Re: Bitcoin.org's Gavin Andresen on Open Source and Escrow
#10BitCoin is damn interesting, it has the potential to dramatically change the world. I hope it takes off. I think it will though, since the early adopters have a vested interest in growing the currency (there never will be more than 21 million BTC in circulation, so acquiring 1000BTC now will never be less than 1/21000 of the currency no matter how popular it becomes). New exciting things are happening daily on the Bi…
Where does BitCoin's value come from?
Value source is pretty much the same as all other currencies too: people use it to exchange goods.
It's actually a big game of trust, that you can use the bitcoin you get today to buy something tomorrow.
As the number of people engaging in trading bitcoins, the market regulates it's self by supply and demand basis ( here is a chart on the current exchange values http://bitcoincharts.com/markets/ ).
The difference to most other current FIAT currencies is, that there is a maximum number of bitcoins that can be generated (20,999,999.9769 BTC), and it gets harder with time (exponential computation time needed to get them). This prevents runaway inflation.
To break it down to simple terms: it has value because people believe that it has value and use it to exchange goods and convert it to other currencies.