[Cryptography] BitCoin bug reported

[Guido Witmond]

On 02/10/14 14:03, Phillip Hallam-Baker wrote:

A few misunderstandings...

> Since the upper limit on the value of a bitcoin is set by
> the cost of electricity to mine it, 

Please don't conflate cost and value.

> the value increases as the
> difficulty of mining increases. 

The cost increases, the value is dependent on market forces. Currently a
speculation thing.

Personally, I see the transparency of the ledger as a good thing. Money
is power. Power corrupts, thus money needs to be checked. I believe some
big problems in society are due to unchecked power in combination with
inflation.

I guess that's why the powers that be don't like Bitcoin, they don't
like to be accounted, held responsible.

Regards, Guido Witmond.


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