blastomere

3 ms·

1. 1.▲
   by blastomere 18y ago

   The economics in this regard are the same as for gold. With gold only the most efficient gold mines can make a profit, so only those profitable operate -- nobody tries to mine all the gold in the world. With bit gold, only those with the
2. 2.▲
   by blastomere 18y ago

   No, the bits are solutions to hard computational puzzles, and they are securely timestamped and published, so that you always know exactly what the money supply is. More on the markets and economics of bit gold here: http://unenumerated.
3. 3.▲
   by blastomere 18y ago

   Bit gold will provide a safer alternative: http://unenumerated.blogspot.com/2005/12/bit-gold.html