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Dustin Matlock
33,856 PointsTreehouse Payment Milestone and the Cryptocurrency Revolution
I personally think it's a wonderful thing that Treehouse is now accepting Bitcoin payments. This is a major milestone and inspiration to me. There isn't much more I can say to describe how overjoyed I am, but I would like to share what in my humble opinion is the greatest divulge on the world as we know it.
Hopefully this will shed light and inspire others to do the same, eventually helping create a much better world where technology is used even more positively than it is now.
3 Answers
James Barnett
39,199 Pointsfrom the Treehouse blog post on Bitcoin
The reality is that most of the people in the world may not have a bank or PayPal account but they are likely to have a phone. With Bitcoin all you need is a smartphone with a Bitcoin Wallet. With this additional payment option, more people than ever will be able to join our community.
I see one potential flaw with this use case for making a subscription service such as Treehouse available the "unbanked" via Bitcoin
It's that the value of a bitcoin fluctuates by the hour, sometimes wildly. So a salad that cost me $5.95 on Christmas could cost me $35 by Presidents' Day. This is more than I wish to pay.
Dustin Matlock
33,856 PointsThere's actually a whole list of alternative cryptocurrencies to Bitcoin and this subject is somewhat complex both politically and technically.
However, I think anyone researching it would probably find themselves more interested in the long run.
Forbes published an article back in January entitled A $100 Worth Of Litecoin A Year Ago Is Worth $30,000 Today which is roughly the same as Bitcoin. The creator of Litecoin used to work on YouTube, Chrome OS, and Google Play projects and left his job at Google to work for Coinbase.
Anyhow this subject is interesting and it's great Treehouse is accepting Bitcoin!
P.S. James, if you haven't watched the video I highly suggest it. I personally would call it Economics 101. Stefan Molyneux obviously knows his stuff and TNW seems to recognize that.
James Barnett
39,199 PointsForbes published an article back in January entitled A $100 Worth Of Litecoin A Year Ago Is Worth $30,000 Today which is roughly the same as Bitcoin.
Litecoin like Bitcoin is not a good store of value due it's volatility this makes it problematic for day-to-day usage by the "unbanked".
further reading
Dustin Matlock
33,856 PointsLitecoin like Bitcoin is not a good store of value due it's volatility this makes it problematic for day-to-day usage by the "unbanked".
The article also suggests that a currency as a store of value can come under attack (such as hyperinflation) and this has been the case for the US dollar for some time now. As we go further into the digital age, cryptocurrency seems like the way to go; it's much easier to store and maintain than many of the other commodities.
James Barnett
39,199 PointsJames, if you haven't watched the video I highly suggest it.
I did, he's analysis is pretty good
I personally would call it Economics 101
I'd call it Anchro-Capitalism 101 personally. Therein lies the issue: