RE: My Thoughts on the Value of Gridcoin
The fundamental technology behind Bitcoin, the blockchain, is replacing entire industries. Think about it this way: Bitcoin was developed with the specific goal of supplanting Visa, Mastercard, Paypal, Venmo, Banks (literally banks), and it is succeeding. When you add these entities together you're looking at hundreds of billions of dollars worth of economic value. There are some very definitive reasons for the rise in the assumed value of Bitcoin -- the question is just what is the real price. It is almost certainly far higher than it is now. The next questions are: how long does it take to fully replace 3rd party financial institutions? and what will happen along the way?
I'm writing a longer response but I couldn't wait to put that out there =).
I completely agree it will have value in the real-world. But for now, it's really not "useable" in any sense, except speculation. None of these coins really are. But then again, these are early days, and much like pre-Internet, everyone is still figuring out what to do with this technology. The next few years will be really interesting.
idk captain, I buy more things with btc every day. Its adoption as a currency is moving along fairly quickly.
Wow, thanks, I stand corrected. I just did a lookup on who accepts bitcoin and I was shocked how many places did. I wasn't expecting to find that. So I suppose, getting back to the article, as long as bitcoin has value, and as long as there's a market to exchange GRC for BTC, then by association, GRC can have value too.