From the current trends of bitcoin applications and exchange rates, it is bound to fail. The moment we start applying a dollar value to bitcoins is where it will fail as numerous vendors and investors will be deferred from using digital currency when he or she can attain the same things using regular currency.
If anyone has watched Zeitgeist: Addendum, the ideal economy they hope to create is a resource based one instead of a profit based one. Bitcoins I believe will be key to getting such an economy started.
Because there is a limit to the number of usable resources on this planet, as well as the maximum amount of bitcoins that can be generated with the technologies we have today. I feel they go hand-in-hand as to the state of the world.
But in order to bring bitcoins up to a global scale, there needs to be a global standard of exchange between bitcoins and useful resources.
As there are private and public corporation that ensure the the standards of food, construction, and social services meets the minimal requirements. So it is required for bitcoins transactions and users to have a standard of exchange to ensure equality.
Here on this website, theoretical tables will be created list the values of numerous resources to bitcoin value based on how much is available.
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