I have faith that additional cryptocurrencies will be launched/released that are substantially better and different from bitcoin. Bitcoin is just the beginnning, and ultimately I don't think it will make more than a few years farther before there is an unquestioned replacement.
On Tue, Nov 26, 2013 at 1:53 AM, James A. Donald <[email protected]> wrote: > On 2013-11-26 11:43, David Vorick wrote: > >> Andy, the problem isn't the denomination, the problem is that Satioshi >> has 5% of all the currency, and the Winklevoss twins have another 0.5%. >> If bitcoin becomes worth 100 trillion dollars, they've got a solid 500 >> billion for being nobody and doing nothing. That's a problem to me. >> > > Five hundred billion for freeing the world financial system from US > domination without bloodshed. Sounds mighty cheap to me. > > I am, however worried that bitcoin can be dominated by a small group. As > the total transaction volume increases, the number of people that are full > and equal participants in recording and facilitating transactions must > diminish. > > This was my original objection, scaling failure, way back in the > beginning, and it is now coming true. > > But even if my worst fears are realized, that is still a whole lot better > than what we have now. > > >
