« Full-Scale Recreation of Casablanca Built in Second Life | Main | Ten Years Ago Today, Hamlet Au Was Born to Leave Hamlet Linden Behind »

Tuesday, February 23, 2016


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

pussycat catnap

Bitcoin is the currency of choice for criminal activity.

With each passing story of a criminal operation funded through bitcoin, its ability to stay out of the arm of legal action will diminish.

It is only a matter of time until the purchase, possession, or transfer of bitcoin itself becomes a crime.

Shockwave Yareach

A) Bitcoin is by design outside mainstream finance

B) poor people don't have computers in impoverished lands.

C) even the poorest goat herder in goombastan gets a few coins for a goat. Thus he's part of the system. He won't make what a CEO makes, but he is in the system for the country he is in. Bitcoin is not going to be accepted by him for the same reason he won't accept Monopoly money - he can't spend it

Bitcoin ignores a fact about money - it is nothing but a unit of change. It's value comes either from the money itself like a gold coin, or from what people are willing to give it like paper money. today you can find a gold coin from mid 1800s and still use it. But a box with a million confederate dollars will be worthless. Unless Bitcoin replaces all currency in all countries nobody will care about it. And since that would mean govt around the world losing control of their economies, you know how well that will be received.

Brookston Holiday

I agree with your points about bitcoin not being widely used to buy anything, but I don't think it follows that, therefore, it will fail.

Traditionally, money is thought to have two uses. One is as a means of exchange and the other is as a store of value. You're right that it sucks right now if you want to get a hot dog and all you have are bitcoins. But as a store of value, bitcoin has a lot going for it. The exchange rate volatility seems to be decreasing over time. Also, the supply of bitcoin is perfectly predictable and limited, which makes it a great inflation hedge.

Historically, gold and real estate are the most stable ways to store value. At least theoretically, bitcoin is better.

Extropia DaSilva

For something to function as a currency it must be:


For something to function as money it must have the above plus one extra: It must be a store of value. Although most people don't distinguish between money and curreny there really is a difference between the two. Currency leaks value over time and money retains it.

Verify your Comment

Previewing your Comment

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

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.


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
Wagner James Au Patreon
Equimake 3D virtual world web real time creation
Bad-Unicorn SL builds holdables HUD
Dutchie Evergreen Slideshow 2024
Juicybomb_EEP ad
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
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
my site ... ... ...