[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.


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