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> I've been around. What is bitcoin? From https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf: Abstract. A purely peer-to-peer version of electr
by VMG 13y ago
> I've been around. What is bitcoin?
From https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf:
Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
Of course, the coins are only yours if you hold the private keys. A promise of some Japanese exchange to send you an amount of Bitcoin in the future is not the same as owning a Bitcoin.
It's pretty interesting, you should read it.
- imperialdrive 13y agoI think you had the only decent reply. Thank you. I know bitcoin, and was really just fishing for others that may share my view on the current state of affairs for the digital crypto currency. Some of us have been around just long enough to be aware that the field of technology doesn't create a buffer from unclean people and business characters. Also, that just because a lot of smart/clever people made something that a lot of people believe in, that at some point it passes the point of no return or is immune to failure. I think bitcoin failing may be good, could wake a lot of people up, many mistakes won't be made a second time, and the freed up focus and brainpower will go towards a better generation of technology to benefit humanity.
- VMG 13y agoCurrently, this event looks like about the third or fourth-largest crisis of the currency and has had very moderate on the valuation, although this might change in the coming weeks. Many people in the field are very ethical and think that an improvement to the current financial system is of great benefit to humanity.