Blockchain for Social Good. - Bitcoins


    11:30pm UK time, like right now.

    Considering how money is created out of thin air, its only a question of time before we all resort back to Gold and its problems with division much like Barter, or some other currency which is namely untraceable due to Bankers, unlike Bitcoins.

    Might be of interest to some.

  • Gold has little value outside of the fact that it's rare which has a social status associated with it. Because it is rare and hard to fake, that is why it's valuable as money.

    The real value of money is that is can accurately reflect the time and effort it took to acquire it in the first place. Anything that can do that can be useful as money. The final intermediate to making any money useful is getting to believe its useful. Money is a nearly text book example of a self-fullfilling prophecy. It is only valuable because people think its valuable.

  • Thank you for the information

  • I would say blockchain provides the good option. many people also securing the bits on the which is also good.

  • Maybe I'm old and dumb, but the whole Bitcoin thing seems really greasy. Virtual coins from virtual wallets traded on virtual exchanges, with the prices going up & down like an elevator. And every month or so, one of the greasy exchanges suddenly loses millions of dollars worth of coins. Nobody knows who invented the whole thing. Shady Russians using malware to mine coins, exchanges run by a single guy who disappears in the night or fakes his own death, etc etc etc.

    Meanwhile, the copy on that page says:

    "Bitcoin and the Blockchain are changing the way people think about currency, digital assets, and identity."

    which made me laugh out loud. I can guarantee you that 95% of normal people have never heard of digital currency and Bitcoin. Of the other 5%, 1-4% may have heard about Bitcoin like it's some esoteric thing, like hearing about the rings of Saturn.

    I'm not trying to dump on Bitcoin here, just remarking on how the IT sector can sometimes have its head too far up its own ass.

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