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This is exactly what I thought when I saw all of the bitcoin articles on HN last week: essentially, the people who control the top Bitcoin applications are lik
by rick888 16y ago
This is exactly what I thought when I saw all of the bitcoin articles on HN last week: essentially, the people who control the top Bitcoin applications are like the central banks: They control the protocols/how much money is released and also how Bitcoins are mined.
- sadfsa 16y agoThe Bitcoin protocol fixes the rate of inflation by adjusting the size of the hash that needs to be calculated. Big Bitcoin rigs don't cause inflation, they merely increase the odds that newly minted Bitcoins will accrue to them.