They don't force anyone to do anything. They just refuse to accept currencies for taxes, other public debts, and government purchases. That's what creates the adopter base and the lock-in.
Bitcoin is a game changer. It is held up by pure faith alone. That makes it more of a commodity than a currency. For example, Gold made good currency simply because of pure faith.
I can't pretend I know I where the blockchain will lead us, but personally I'm fascinated to find out.
(Quick P.S. for any Brits or Aussies, us Yanks referring to the blockchain just means blockchain tech, not specifically the Bitcoin blockchain.)
Honest question (as a Brit): why call out nationality when talking about the blockchain in your PS... Have you noticed the meaning vary outside the US?
Yeah, in some countries "the blockchain" strongly implies Bitcoin itself, whereas in others, particularly the US, "the blockchain" could refer to a blockchain in any setting, e.g. an altcoin.
Interesting, thanks! I've not noticed that myself, but maybe that's because I'm in London and fintech is particularly strong here (I'm guessing fintech folks are more au fait with the difference between blockchain and bitcoin)
Bitcoin is a game changer. It is held up by pure faith alone. That makes it more of a commodity than a currency. For example, Gold made good currency simply because of pure faith.
I can't pretend I know I where the blockchain will lead us, but personally I'm fascinated to find out.
(Quick P.S. for any Brits or Aussies, us Yanks referring to the blockchain just means blockchain tech, not specifically the Bitcoin blockchain.)