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<p>[QUOTE="HawkeEye, post: 2754630, member: 86305"]Like there will never be leaks from the NSA? Having worked in the technology industry, usually security failures originate from within not by hacks. Bitcoin will be compromised in time. But the real issue is "What is the underlying value?" </p><p><br /></p><p>All the proponents of Bitcoin in this thread talk about the security, popularity, and acceptance of the product. But all currencies, even crypto-currencies, must have some basis of value? On a very simplistic basis you cannot walk in to buy a cup of coffee with a coin that fluctuates in value. So why would I take payment for any real product with a currency that could be worth more or less once the transaction is completed, making my transaction unpredictability profitable or unprofitable?</p><p><br /></p><p>I also well remember the glory days of the Dot Com era when new entrepreneurs worked to convince people that profits were the old way of thinking. All that mattered were clicks. Clicks were the new currency, we were all just too old and dumb to understand.</p><p><br /></p><p>Where is Adam Smith when you need him?[/QUOTE]</p><p><br /></p>
[QUOTE="HawkeEye, post: 2754630, member: 86305"]Like there will never be leaks from the NSA? Having worked in the technology industry, usually security failures originate from within not by hacks. Bitcoin will be compromised in time. But the real issue is "What is the underlying value?" All the proponents of Bitcoin in this thread talk about the security, popularity, and acceptance of the product. But all currencies, even crypto-currencies, must have some basis of value? On a very simplistic basis you cannot walk in to buy a cup of coffee with a coin that fluctuates in value. So why would I take payment for any real product with a currency that could be worth more or less once the transaction is completed, making my transaction unpredictability profitable or unprofitable? I also well remember the glory days of the Dot Com era when new entrepreneurs worked to convince people that profits were the old way of thinking. All that mattered were clicks. Clicks were the new currency, we were all just too old and dumb to understand. Where is Adam Smith when you need him?[/QUOTE]
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