I agree that volatility is a problem but I think it's a symptom of the root cause. I think digital currencies do work now for a few use cases (cross border transfer, for example), but they don't work mainstream because you can't trust them at the core.
It's not a very understandable system, and that's a benefit to certain powerful players in the field, to the detriment of everyone else. Most people now holding bitcoin are speculators or fools. A few people/groups with significant resources have the ability to truly understand what's going on, and unless you are one of those folks you are just along for the ride.
With Tree Notation you could start moving toward a far simpler system with no unnecessary complexity, where it would be much harder to maintain an information advantage over the average user. The chain of transactions itself would be very easy to audit, but long term so would the node code, etc. All cryptocurrencies currently use overly complex languages (mostly BNFs) both for their nodes and their blockchains. I think Tree Notation will eat those (http://longbets.org/793/) and someone(s) who apply it early to the crypto world will win a lot of users.
People use visa, mastercard, bank transfer/swift, paypal etc but have no clue about the implementation. This doesn't stop them using them. You are focusing on the wrong things. Users have no interest to know what's going on behind the scenes but you can be sure they won't use cryptocurrencies again when they find out that the bitcoin bought yesterday is now less valuable and they are no longer able to buy whatever they planned(i speak from personal experience). Wtf does the programming language has to do with the end user experience??? Fix the volatility and you may have a successful cryptocurrency otherwise all you get is a gambling tool and a way for shady people to transfer money anonymously. Obviously for this latter group of people loosing some money is not an issue.
VisaNet is the simplest program imaginable, relative to the value. People do have a clue how it works because any problem you have can be explained with little more than basic arithmetic. The phases of the credit charge process are clear and well defined. (I used to work on things for Visa). Simplicity matters. You’re not gonna fix volatility when you have the complexity of the current bitcoin network, IMO.
You know that Visa works with stable(government backed), regulated currencies, right? Maybe that should give you a hint why people use it. Your "complexity" argument is pure bullshit.
It's not a very understandable system, and that's a benefit to certain powerful players in the field, to the detriment of everyone else. Most people now holding bitcoin are speculators or fools. A few people/groups with significant resources have the ability to truly understand what's going on, and unless you are one of those folks you are just along for the ride.
With Tree Notation you could start moving toward a far simpler system with no unnecessary complexity, where it would be much harder to maintain an information advantage over the average user. The chain of transactions itself would be very easy to audit, but long term so would the node code, etc. All cryptocurrencies currently use overly complex languages (mostly BNFs) both for their nodes and their blockchains. I think Tree Notation will eat those (http://longbets.org/793/) and someone(s) who apply it early to the crypto world will win a lot of users.