[Cryptography] What has Bitcoin achieved?

Dave Horsfall dave at horsfall.org
Wed Jun 25 13:56:40 EDT 2014


[ I somehow missed the original; it's IanG quoting JohnL ]

> > (I realize nobody uses checks in Australia any more, but substitute 
> > whatever you use to tell your bank to pay bills.)

Please don't make blanket statements like that.  I still use cheques for 
those organisations that do not take EFTPOS (small clubs etc), and I do 
not trust PayPal because unlike my Credit Union they are not governed by 
financial regulations; well, not last time I looked anyway.

I don't use Bitcoin because it appears to be far too speculative (witness 
the joe-jobs on them, for example), and to get a decent return means
investing in expensive hardware, hoping to make enough to cover your 
electricity bills and air-conditioning.

Of course, I could be wrong, but that's the impression I get.  I'm willing 
to be convinced otherwise, but then there's the matter of the dedicated 
hardware or the ASICs to purchase...

-- Dave


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