Comment · Wed, November 20, 2013
What most investors don't get about Bitcoin as a currency
Original post in this thread
BCLaraby · 96 points
Is that we're on the edge of creating a truly single global currency backed by the full faith of the world.
Now, I'm admittedly simplifying here but think about it. The USD is supported by all that America has to offer, the full force of the promise of the United States. Its workers, its output (GDP), Exports, you name it. It's all just a promise, an IOU, but a promise backed by real econonmic might.
Same with the UK, with China. Same with India. And Australia and Canada.
All these nations singular currencies are representative of the work put into them by us, the people, who build and maintain the economy.
Now Imagine all of the people of the world willingly trading in their own currencies for Bitcoin, voluntarily creating a single universal currency backed by the full faith of the world's economies. Essentially creating a Net that allows for a stable, instantly transferrable currency no matter where you are or how much you need.
Some guy in China wants to do business with someone in Australia? Done. Instantly. No exchange rates or time wasted or middlemen. Just done. Its the Internet of Money.
The long and short of it?
In Bitcoin we've created the real-life Sci-Fi…
What they were answering
BCLaraby · 1 points
It will become what the market demands of it.
LTC and others have nowhere near the world-wide name recognition. It's safe, secure, open source and building confidence.
It may not be the first or last Crypto-currency, but it's the one that has the best shot of making it.
u/MisterYouAreSoDumb
At this very moment in time, I agree with you. Trends can shift faster than you can blink, though. I'll be watching with interest, that is for sure.