Currency in the Future of the Supply Chain

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_hm
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Safety for your free currentcy
_hm   8/20/2014 8:24:16 AM
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Main problem for free currency will be its safety. It needs effort to create it. But it can disappear in no time for some unknown reason.

 

Ariella
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Re: Safety for your free currentcy
Ariella   8/20/2014 8:34:21 AM
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@_Hm there have been a number of times that bitcoin was hit usually because of problems with the exchange services. Did you have one particular incident in mind?

_hm
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Re: Safety for your free currentcy
_hm   8/20/2014 8:41:19 AM
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@Ariella: It is common sense approach. Will me or you will convert our hard earned money in bitcoin or other free currentcy?

Answer is no. Who will use this currency? They are people who wants to earn or loot money with little or no effort.

Ariella
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Re: Safety for your free currentcy
Ariella   8/20/2014 8:54:35 AM
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@_Hm well, all that depends on your attitude toward money. The economic definition is merely a medium of exchange, a measure of value, and a store of value. Bitcoin meets all three as well as any government issued fiat. In fact, compared to some local currencies, it is a better bet as a store of value because they tend to lose value while it tends to gain if you look at its history. But the use of digital currency is not primarily in storing value but in a seamless medium of exchange that is not limited by national boundaires. That is what Ripple focuses on. I wrote about it recently here.  

_hm
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Re: Safety for your free currentcy
_hm   8/21/2014 2:10:00 AM
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And which government backs it up with reserved gold or other commodity?

Ariella
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Re: Safety for your free currentcy
Ariella   8/21/2014 8:46:42 AM
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@hm in the USA the dollar has not been backed by gold, silver, or anything else of value for many decades. See http://www.history.com/this-day-in-history/fdr-takes-united-states-off-gold-standard

prabhakar_deosthali
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re:
prabhakar_deosthali   8/21/2014 2:11:18 AM
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This artcile has been informative to me about tghis new digital currency Bitcoin.

 

I am still not clear how is this money Minted? and who regulates the no of Bitcoins in circulation.

Such a currency should have at leat one regulatory authority who must gurantee its conversion to any other desired currency when asked for.

Otherwise it becomes like a stock market - totally in the hands of speculators!

 

Jacob
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Bitcoin
Jacob   8/21/2014 5:55:22 AM
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Prabhakar, Bitcoin is totally flopped because of lack of regulations and supports from government side.

Ariella
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Re: Bitcoin
Ariella   8/21/2014 8:56:08 AM
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@Jacob Though I don't use bitcoin myself, I wouldn't call it a failure. I would say, it's still fairly early on, though it has actually grown in leaps and bounds since I wrote this: http://www.coindesk.com/is-society-ready-for-bitcoin/ 

Ariella
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Ariella   8/21/2014 8:54:03 AM
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@Prabhakar_dosthali Bitcoin has no regulatory authority, which is part of its appeal for some users. I don't use it myself, though I've written about it several times. I went into greater detail about it, as well as another digital currency system, Ripple, in my article for CFO last year. See 



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