I am curious to see what fellow hackers, entrepreneurs, and generally bright people here at HN think of Bitcoin and it's future. Questions worth considering: Is it a worthy investment? Can it really be compared to the internet in its early days (as many people say)?
Ask HN: What do you think of Bitcoin?
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Re: Ask HN: What do you think of Bitcoin?
#2My 2 cents:
The bitcoin protocol is solid on crypto-side, not so sure about the economics-side. Key word: liquidity trap.
One thing that makes bitcoin a huge deal to me, is to be able to transfer (small amount of) money from China to US easily, at a good exchange rate. Another thing is that right now whenever some new protocol, i.e. alt-coins and alike comes out, people measure its price not in US dollars, but in terms of bitcoins. There are lots of stuff which are easier to buy with bitcoin. Accepting bitcoin is also easier compare with accepting dollars.
Honestly speaking, US Dollar in an exchange/bank that is incredibly hard to withdraw is more "virtual" than bitcoin. E.g. Mt.Gox USD, is really a "virtual" currency.
Re: Ask HN: What do you think of Bitcoin?
#3Hard to say. I watched them go from $18ish per coin down to basically nothing and now it's at $100+ per coin all in a few year time frame.
I think it's a given that some type of global digital currency will happen at some point in time but I don't think it will be bit coins or happen really soon.