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I'm not particularly invested in BTC either (own like 0.000001 or something), but I find it fascinating for similar reasons. Imho it represents and inflection
by SkyMarshal 13y ago
I'm not particularly invested in BTC either (own like 0.000001 or something), but I find it fascinating for similar reasons.
Imho it represents and inflection point in human history, by virtue of solving a previously unsolvable algorithmic problem (distributed consensus), at least in the context of digital currency.
BTC's solution wasn't even technically possible until two other major innovations - the construction of the internet, and the invention of the Bittorrent protocol. And 'Satoshi's' insight that a simple time delay via proof-of-work finally tied it all together and made possible the first (technically) viable distributed currency.
All the remaining problems are minor by comparison and will eventually get solved, in the same way the modern banking system eventually solved problems of bank robberies and fraud - not so much completely solving them, but by making them extremely difficult to pull off and/or get away with, reducing the odds and risk to levels acceptable for the general public. Same will happen with BTC and its infrastructure over time as well.