#38 - Ben
So if I create a new digital currency and am more successful marketing to the general population by supplying daily living tech integration that makes the transition from government backed currency to my GSD (Gavaster Super Dollar) seamless, what happens to bitcoin?
Also, once mining is complete and the only way to make money using your mining processors is to charge people a fee for the service...every time money changes hands you have a system of 'owners' who will be taking a percentage of the transaction. At a 1% exchange rate it will take 1 year for those who own the miners to possess all the bitcoins.
The blockchain tech I think is useful. A finite currency that's max value is $21 trillion is not going to replace a world economy who's GDP is 3x the max value of bitcoin and who's estimated net worth is 11x bitcoins max value.
Bitcoin is essentially a commodity to me. Not a currency.