it does not need to displace them I guess - same way Euro does not need to displace USD, just needs to be a viable alternative. Which I suspect means being a viable repository of value of all current wealth so it can have a stable exchange rate
I am interested in its ability to be a more secure Distributed hash table ala namecoin, but the tulip mania has me itching to just start mining. Oh well, why did I not start earlier?
BTW do we know how many coins have been produced to date?
About 12 million coins have been produced. The reward halved a few months ago, so mining is probably not your best bet now. Of course, if the value increases, then I'm wrong, but mining is quickly becoming a professionals game.
I am interested in its ability to be a more secure Distributed hash table ala namecoin, but the tulip mania has me itching to just start mining. Oh well, why did I not start earlier?
BTW do we know how many coins have been produced to date?