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price went down again, bitcoin must be dead (again!) <iframe width="560" height="315" src="https://www.youtube.com/embed/LCVqfpTSqug" frameborder="0" allowfullscreen></iframe>
just got back from the texas bitcoin conference.. some really good speaker sessions.. a lot more older, established finance professionals are in this space that I imagined.
p2p royalties are a fundamental step forward on a music platform, which would truly be game changing, compared to what tidal claims to be a game changer. a few mega artists coming together for stake in the company and offering nothing to future artists doesnt really do anything. artistcoins offer a way to create your own equity as an artist and offer it to fans on the open market for bitUSD and other artist coins... this then incentivizes fans to hold their coin as the artist may offer promos based on ownership. it brings an element of gamification to music fandom, kindof like trading cards, but to the next level. fans have incentive to share music, increasing the incentives for artists to offer more. its a virtuous cycle
Headline artists would drive traffic to the platform and enable discovery of anyone who has uploaded. Up and coming related artists would see Plays Everyone is on an equal playing field with peertracks.. unlike tidal which if it ever works, (bc no one will pay 10 a month for a diminutive catalog,) will drive revenue to the few equity holders that do exist.
Bumping. I am not really sure how Bitcoin operates, but I was wondering what y'alls opinions on Bitcoin as a currency in each of the three functions: 1) Medium of Exchange 2) Unit of Account 3) Store of Value If this has already been discussed; sorry, I really do not want to dig through a 39 page thread.
It was engineered to be superior in all these functions. 1) Medium of Exchange (spending) - you can send any amount, no matter how large or small, at near zero cost, instantly, between any two points on the planet. You need no one's permission. No one can stop you. No intermediary. Completely anonymous. A perfect medium of exchange. 2) Unit of Account (pricing) it's hard to price things in Bitcoin right now because the liquidity pool is so small, but long term that will change if/when Bitcoin becomes ubiquitous. 3) Store of Value (saving) if it becomes ubiquitous, it will be a fantastic store of value. It is impossible for any central bank or party to print more Bitcoin and destroy the value of Bitcoin you have saved. The money supply is finite and predictable.
1) how would you feel if you paid for something costing $250 using bitcoin, then bitcoin value jumps the next day so the bitcoin you used to pay for that item is now worth $300? or how about if you sold an item and was paid in bitcoin, then bitcoin plummets the next day. 3) as ganja said, too volatile. in theory it's just another currency, but it's just too volatile to be useful in that respect. it's just a speculative commodity at the moment.
If you really want to find out, the Bitcoin community is pretty open about their opinions... Quite a few of the core devs are here. You can chronicle the failures and successes of the Foundation and see the thoughts of many of the builders behind bitcoin. https://bitcoinfoundation.org/forum/index.php?/forum/4-general/
PSA: I bolded 1 as a factual inaccuracy, and it's a biggie. If you're not careful with your Bitcoin address it is basically the opposite of anonymity. Remember, every bitcoin transaction is stored publically online and associated with your Bitcoin address, which can be associated with you. This is what happened with Ross Ulbricht. https://bitcoin.org/en/you-need-to-know I bolded 2 instances of the use of the word ubiquitous because I think it's a cop-out to use that to justify bitcoin's current abysmal performance with those two criterion. Last point I'd make is that the majority of mainstream users will not understand the implications of my point 1 and will likely have to use an intermediary for bitcoin to be ubiquitous, so your points would contradict one another.
