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noko

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Thread replies: 14
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Hi guys. We all know the problem with bitcoins.

>The value is so high that it scares people off
>Value changes so much that it scares people off
>Hard to acquire for people who aren't super interested in crypto
>Needs to be widely accepted/used before people widely accept it/use it
>too complicated for ordinary people who don't internet all day

What features/differences/strategy could a new cryptocurrency have that bitocoin does not? What would it need to be like to make the jump to mainstream?

Maybe there would need to be an actual central 'official' type authority for the currency?


Some sort of physical payment method that takes the form of a credit card that is linked to your 'wallet'? With the card reading devices connected to the blockchain?


I want a way for a truly universal cryptocurrency to be in widespread use. Not just as a hobby.
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>>800564
What makes the bitcoin special is the fact that it's not tied to a bank or other organizations, making it impossible to track and centralize, make these your selling points. Also, if more people knew that all their dollars are created out of thin air, with debt plus interest that need to be payed to a privatized corporation benefiting a few, People would overthrow this economic system or at the least look for alternative currencies. (like bitcoin)
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>>980280
Problem is that people don't care about this shit at all. Hell, even I barely care about it.
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>>980284
They'll care when they fuck up the economy again
>>
Would there not be a way to crowdfund a lot of money to buy gold bars. Then make a non crypto digital currency backed up by the gold. Then create x amount of digital units for the currency so that it is divided to be worth, say... 100 for every dollar. Then have people exchange the dollars for the digital currency?

Then with the dollars generated from exchanges, buy more gold to allow more units of currency to be put into circulation for exchange?

Assuming you could get the technology right for secure payments and transfers... Why wouldn't people buy into this? Wouldn't this be more likely to be accepted by the general public as a legitimate currency than bitcoin?
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>>980284
This. Libertarians keep going back to how Bitcoin is free from the banking system but disregard the fact that everyone still uses banks. If people had an overwhelming disgust for banks they would keep their money in cash and use prepaid credit cards to make occasional online purchases. I have a buddy who is 37 years old that has never had a bank account. I find it fascinating that he uses prepaid phones and pays his bills with money orders. He doesn't do this because he mistrusts banks, he just never felt the need to open an account. He is the very demographic that Bitcoin tries to cater to but he is probably the least likely to use Bitcoin because he doesn't like to have to learn new things. He barely uses a computer for email and YouTube videos.

To be very honest I don't think too many people realistically feel that the dollar is failing and they would be right. The dollar is actually incredibly strong right now and inflation rates have been constant for 30 years. There is a reason it is still the worlds reserve currency. To answer your question OP, if there was a stable crypto with a fixed price tied to USD, even I would be tempted to use it. I like the fact that there is no extra validation or credentials needed to make purchases online. I also like the fact that retailers wouldn't have any of my personal credit card information. There are definite benefits to crypto but right now the volatility and the long process to convert them back and forth to real currency makes them non-practical to me personally.
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>>980323
They have this on the Ripple network. It's a crypto backed by physical gold. For some reason I can't think of the name right now.
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>>980331
>won't use banks

What are interest rates, time-value of money, and inflation?
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>>980339
Not sure what point you are making?
>>
Wats that shit abt number of bitcoins double every year


Sound dumb to me

Like some interest rate in overdrive
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>>980351
basically that keeping your wealth in cash is a bad move because of inflation. As long as interest-bearing accounts are around, people will use them. Sure, its conceivable that someone will offer better products than banks (the current interest on savings and cds is fucking laughable), but anyone with a modicum of financial understanding isn't ever going to hold much in cash for long.
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>>980280
This is actually why I haven't jumped on bt/crypto as the future. It is such a threat to the established system it's likely to get destroyed or tied down by central banks and governments to suit them.
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>>980463
Oh I totally agree with you. There is a large unbanked population but the majority of them are in 3rd world countries. Anyone with access to a bank that doesn't use them either does not make a large enough income to care or has a propensity for libertarian/ anarchist/ doomsday ideologies. They are in the very small minority though. Although the mortgage crisis was mostly due to the banking system, the populous as a whole has not chosen that as a reason to look for other alternatives. Bitcoin has pushed itself as one alternative but it never reached mainstream adoption because there were many flaws with the Bitcoin agenda. The blockchain itself was a great idea but the overarching structure that made up Bitcoin exchanges, dark markets, and services were proven to be corruptible and wrought with fraud, theft, illegal drug sales and all other types of criminality that cast a black cloud over Bitcoin itself. People would be trading a corrupt stable system for a corrupt volatile one.
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>>980323
Andrew Jackson, Abraham Lincoln and John F. Kennedy to name a few have in fact tried (Jackson succeeded but the latter weren't so lucky) to abolish this debt based, FIAT currency, economic system that enslave the masses with debt and centralises all the wealth on a few (1%) and is also the root of corruption in all financially assimilated governments and individuals of influence, due to the fact that they are bought and manipulated like a puppet, if the person of interest doesn't accept to cooperate and further the ongoing new world order agenda being pushed by an elite cabal of international bankers and multinational corporations (the 0.01%ers) they are simply disposed of, like Kennedy, Lincoln or anyone who is seen as a possible threat to the ongoing established system.
So yeah, good look with that friend.
Thread posts: 14
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