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> A good portion of geek enthusiasm for Bitcoins comes from the fact that it is programmable money. But: Money is also programmable money. I don't quite get th
by placeybordeaux 12y ago
> A good portion of geek enthusiasm for Bitcoins comes from the fact that it is programmable money. But: Money is also programmable money.
I don't quite get this one. How is money also programmable money? Does he mean USD, USD as claimed by paypal, USD as claimed by venmo?
One of the reasons I am excited about bitcoin is that for the first time there is decent infastructure for machine to machine payments that can withstand any one buisness failing.
- mpyne 12y ago> How is money also programmable money? Does he mean USD, USD as claimed by paypal, USD as claimed by venmo? Yes to all of those. Computers have been absolutely intertwined with finance and money for decades, so much so that it's become almost invisible to people. But just because it's so invisible you don't notice it doesn't mean that major economies haven't already been using "programmable money". > machine to machine payments that can withstand any one buisness failing. Business fail all the time, including business involved in payment processing with existing national currencies. That hasn't stopped machine-to-machine payments. On the other hand Bitcoin has suffered payment stops in its history, which Patrick mentions in the linked tweetstorm.