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I really don't understand the whole Bitcoin thing and I'm not sure why people keep posting how much they're trading for. Is the government going to drop the USD
by jordan_clark 14y ago
I really don't understand the whole Bitcoin thing and I'm not sure why people keep posting how much they're trading for. Is the government going to drop the USD in favor of bitcoin or something?
- Coinabul1 14y agoWhat if I told you that Bitcoin SOLVES counterfeiting? What if I then told you that the US government spends billions of dollars fighting counterfeiting and governments like North Korea profit by printing USD. Cheaper on the budget. Safer on the homefront. How could they say no? (That being said, them actually accepting Bitcoin is insane, using the technologies Bitcoin has pioneered though... That could happen.)
- Steko 14y agoBitcoin doesn't solve counterfeiting, it just moves the goalpost from printing to hacking.
- gizmo686 14y agoBitcoin has cryptographic assurances against counterfeiting. Stealing money is still a problem.
- Steko 14y agoYou can hijack the entire currency with enough processing. Very hard? Yes. Still counts as counterfeiting.
- Coinabul1 14y agoShow me one example of the Bitcoin protocol being hacked. The hacking you speak of is more akin to bank robbery.
- jbackus 14y agoA lot of bitcoin's value comes from being decentralized by design and therefore out of the government's reach.