[FoRK] Bitcoin hits $1 Billion

Gregory Alan Bolcer greg at bolcer.org
Fri Apr 19 06:03:42 PDT 2013

On 4/18/2013 11:27 PM, Joseph S. Barrera III wrote:
> I just hate the idea of investing in gold. What productive activity does
> it create? Digging metal out of the ground. I'd rather invest in
> companies trying to do useful things and maybe even improve our lives.
> And investing in bitcoins is even worse -- it just serves to motivate
> people to waste electricity and create CO2 for no good reason. At least
> gold has its uses.

Right now bitcoin is nothing more than a vehicle for greed and 
speculation.  There's no killer app that you can accomplish with it that 
you can't accomplish with any other currency, hard, soft, electronic.

What they need is a killer app.

(Given my history with Paycloud/Encryptanet as applied to digital 
content) I particularly like the idea of dividing bitcoins by very large 
number of decimal places.  You could earn tiny fractions of bitcoins 
that someone had already mined and instead of getting a site 
registration, login, or paywall, you would get bitcoin micro-credit for 
having visited a page with an add or sat through 10 seconds of pre-video 
or whatever.  That micro-credit would invisibly transfer to the content 
provider and voila, micro-paywalls without having to login.

Right now bitcoins are far, far too difficult to use, can't be 
dynamically split, used, temporarily stored, transparently transferred. 
  Someone should write an app for that.  I bet all these stupid paywall 
companies would start using it in an instant.


greg at bolcer.org, http://bolcer.org, c: +1.714.928.5476

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