« When it Comes to Flash Games for Girls, Gameplay is Barely Skin Deep | Main | Let Caitlin Tobias Discover Great Second Life Works for You »

Tuesday, January 21, 2014

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Pathfinder

I think it's great you're exploring these parallels between the evolution of SL and BTC. Thanks for reminding us that future events often cast their shadows before.

I've been dabbling in cryptocurrency a lot lately (trading, mining, etc.) Fascinating stuff across economic, political and technical perspectives. One great thing is the existence of the BTC blockchain, a public ledger of all balances and transactions across the Bitcoin network since day 1. That means everyone has full access to a great supply of hard data to analyze exactly what the heck is going on. While I remain guardedly optimistic about the future of Bitcoin, I must say this particular analysis of data from the blockchain rings true to me in many ways: http://ordinary-gentlemen.com/blog/2013/12/12/these-three-graphs-prove-that-bitcoin-is-a-speculative-bubble

It's also amazing (and a bit hilarious) to see all the other cryptocurrencies popping up. The vast majority of them are going to go nowhere, but some of them bring some very interesting "cryptocurrency 2.0" ideas to the table (NextCoin in particular, in my opinion...)

The Big Question: As a first-mover, will Bitcoin be the MySpace or Amazon of cryptocurrencies? Only time will tell.

Bartholomew Gallacher

First you need to keep in mind, that Bitcoin really is two things rolled into one program, namely: a cryptocurrency and a distributed financial transaction protocol.

The number of total Bitcoins is limited, meaning that early adopters had it easy to gain a nice amount and can now sell it like crazy.

Bitcoins can be lost irretrievably. If your hard disk crashs and you got no backup of your Wallet, they are gone for good, never to return.

Bitcoin shows, that there's a certain place and niche for a transaction protocol.

It also shows, that Bitcoin as a currency is a nice thing, getting the early adopters rich. It is a ponzi scheme.

And nearly no one uses Bitcoins as what it was meant to be, a currency at all. Most people use it as a speculating object, nothing more, nothing less.

It is a nice experiment and it was the first "currency" to get wide spread adoption, but that's about it.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)

Making a Metaverse That Matters Wagner James Au ad
Please buy my book!
Thumb Wagner James Au Metaverse book
Wagner James "Hamlet" Au
Virtual_worlds_museum_NWN
Bad-Unicorn SL builds holdables HUD
Dutchie Evergreen Slideshow 2024
Juicybomb_EEP ad
IMG_2468
My book on Goodreads!
Wagner James Au AAE Speakers Metaverse
Request me as a speaker!
Making of Second Life 20th anniversary Wagner James Au Thumb
my site ... ... ...
PC for SL
Recommended PC for SL
Macbook Second Life
Recommended Mac for SL

Classic New World Notes stories:

Woman With Parkinson's Reports Significant Physical Recovery After Using Second Life - Academics Researching (2013)

We're Not Ready For An Era Where People Prefer Virtual Experiences To Real Ones -- But That Era Seems To Be Here (2012)

Sander's Villa: The Man Who Gave His Father A Second Life (2011)

What Rebecca Learned By Being A Second Life Man (2010)

Charles Bristol's Metaverse Blues: 87 Year Old Bluesman Becomes Avatar-Based Musician In Second Life (2009)

Linden Limit Libertarianism: Metaverse community management illustrates the problems with laissez faire governance (2008)

The Husband That Eshi Made: Metaverse artist, grieving for her dead husband, recreates him as an avatar (2008)

Labor Union Protesters Converge On IBM's Metaverse Campus: Leaders Claim Success, 1850 Total Attendees (Including Giant Banana & Talking Triangle) (2007)

All About My Avatar: The story behind amazing strange avatars (2007)

Fighting the Front: When fascists open an HQ in Second Life, chaos and exploding pigs ensue (2007)

Copying a Controversy: Copyright concerns come to the Metaverse via... the CopyBot! (2006)

The Penguin & the Zookeeper: Just another unlikely friendship formed in The Metaverse (2006)

"—And He Rezzed a Crooked House—": Mathematician makes a tesseract in the Metaverse — watch the videos! (2006)

Guarding Darfur: Virtual super heroes rally to protect a real world activist site (2006)

The Skin You're In: How virtual world avatar options expose real world racism (2006)

Making Love: When virtual sex gets real (2005)

Watching the Detectives: How to honeytrap a cheater in the Metaverse (2005)

The Freeform Identity of Eboni Khan: First-hand account of the Black user experience in virtual worlds (2005)

Man on Man and Woman on Woman: Just another gender-bending avatar love story, with a twist (2005)

The Nine Souls of Wilde Cunningham: A collective of severely disabled people share the same avatar (2004)

Falling for Eddie: Two shy artists divided by an ocean literally create a new life for each other (2004)

War of the Jessie Wall: Battle over virtual borders -- and real war in Iraq (2003)

Home for the Homeless: Creating a virtual mansion despite the most challenging circumstances (2003)

Newstex_Author_Badge-Color 240px
JuicyBomb_NWN5 SL blog
Ava Delaney SL Blog
Ava