[Cryptography] BitCoin bug reported
Kent Borg
kentborg at borg.org
Wed Mar 5 08:14:16 EST 2014
On 02/14/2014 11:33 AM, Phillip Hallam-Baker wrote:
> BitCoin is super deflationary, the value of goods relative to BitCoin
has dropped to 1% of
> their original value in a year. In an economy like that, anyone
spending money is an idiot
> because their money will be worth much more in a short period of time.
Indeed, were bitcoin the basis of an economy--were it to completely
replace all other currencies. But what makes you think that will happen?
I think it is more accurate to think of bitcoin as just a (rather odd)
financial instrument. Berkshire Hathaway could be called deflationary,
too. But our economy hasn't collapsed on a cross of BRK.A.
-kb
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