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TampaAnimusVortex

(785 posts)

17. Bitcoin doesnt care what Krugman thinks...

Mon Jan 20, 2014, 04:32 PM

Jan 2014

http://www.coindesk.com/could-bitcoin-surpass-google-market-cap/

"Bitcoin is a protocol, not a currency. Currency is just the first app."

The protocol is a new technology that allows a global consensus on who owns what without a centralized third party. The transparent decentralized public ledger will change every sector. Here are a few examples of possible usages for the protocol; creation of decentralized autonomous corporations crowd fund, vote, pay out dividends, Twister(decentralized twitter), Bitcloud, Namecoin(decentralized DNS), Mastercoin can be used to create custom currencies, smart money, smart contracts, derivatives, identity and reputation systems, savings wallets, crop insurance, centrally managed data feeds, smart multi signature escrow, full-scale live on-chain stock market, on-chain decentralized marketplace using the identity and reputation system as a base, decentralized drop boxes etc etc and the list continues to grow. The Blockchain will drastically change the business model for the transaction fee based parasite companies... Needless to say BTC is much more than just a price, medium of exchange or store of value. Its a new technology that everyone will be using whether the know it or not...

Examples of protocol usage http://twister.net.co/

http://boingboing.net/2014/01/17/bitcloud-bitcoin-like-system.html

http://torrentfreak.com/how-the-pirate-bay-plans-to-beat-censorship-for-good-140105/

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Paul Krugman Blog- Bitcoin is Evil [View all] n2doc Dec 2013 OP

i`m buying tulip bulbs.... madrchsod Dec 2013 #1

No no...stockpile HEIRLOOM seeds...they will be priceless in the coming zombie apocalypse. Drew Richards Dec 2013 #3

The smart money is in ammo pscot Dec 2013 #4

Do arrows count? Prophet 451 Dec 2013 #9

If you can make them count, they count... JHB Dec 2013 #12

That is amazing. Enthusiast Dec 2013 #16

when ever we have a dem president the NRA scares the price of ammo up Herself Feb 2014 #18

i`m not sure if i can afford them now... madrchsod Dec 2013 #6

I heard the word was "plastics". nm rhett o rick Dec 2013 #7

With bitcoins, this image comes to mind... Xipe Totec Dec 2013 #2

That image was in the copy i had when I was about 10 pscot Dec 2013 #5

Interesting. Normally I'm all about Krugman, but I'm not getting it this time. Jester Messiah Dec 2013 #8

"Evil" of course is provocative hyperbole. DanTex Dec 2013 #10

Interesting. Thanks for the explanation. Jester Messiah Dec 2013 #11

This is true. DanTex Dec 2013 #15

I think he's playing on the goldbug claim that fiat money is evil JHB Dec 2013 #13

I listened to a podcast by warrior1 Dec 2013 #14

Bitcoin doesnt care what Krugman thinks... TampaAnimusVortex Jan 2014 #17