Quote:
Originally Posted by freebeard
There are valid use cases for a distributed ledger.
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Agreed. Electronic currency on a distributed ledger will be the future, but I don't think Bitcoin can be saved. Some successor will come along that solves some of the problems it has.
If the US $20,000,000,000,000 debt were in bitcoin, it would be growing even worse given the natural deflation of the currency as more demand for an ever decreasing amount drives the price up.
A good currency is simply a vehicle for distributing stored wealth and labor. It shouldn't be valued as a collectors item due to its scarcity, but instead change ownership rapidly as transactions, which is what a strong economy does with money. Bitcoin doesn't do this, and that's the biggest flaw.