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     6 years ago (edited)

    Goldsmith Bankers?

    Centuries ago, goldsmiths were bankers, possibly the first bankers ever were goldsmiths and they would store people's gold in their vaults.

    Paper Money Receipts?

    Paper money were generally the gold receipts. Yeah, so many people may not have gold. But they probably should have gold. A lot of people would keep gold in their basements maybe, if they had gold in the first place.

    Bitcoin is kind of like gold in that sense.

    Ethereum might be like silver. So, some people are collecting Bitcoin. The popularity & the idea of holding onto crypto gold is spreading around the world.

    It's growing.

    So, it may not ever gain mass adoption, but it is becoming more adopted than gold, more decentralized than gold, and safer than gold in a variety of ways.

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       6 years ago 

      Bitcoin might not ever gain mass adoption, but it's likely that some digital currency will. I hope it's a free, stateless currency, not one controlled by banks or governments.

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       6 years ago 

      You know that the dollar is mostly a digital currency, already? The dollar is not a cryptocurrency because it's centralized by the Fed and central bankers. But most money is debt. Most money is theoretical. A lot of dollars are running around through wire transfers from bank to bank and stuff like that. Yeah, may the better cryptocurrency rise and continue to compete against the others. So, all of this is very good. But we are also in the fight of our lives against world banks and others as they have not had this level of competition for like many centuries.