On Sat, Jun 18, 2011 at 12:21:42AM +0530, Sirtaj Singh Kang wrote: > This is a very thorough and compelling takedown of bitcoin.
Currencies are consensual belief systems. Bitcoin will remain useful as long as there are no effective attacks against the cryptosystem and/or the infrastructure, and people continue to believe in it. Bitcoin is unlikely to be it, but it will have successors and competitors. > ------------- > No. Bitcoin is a ludicrously bad idea. It is a scam. A Scam. It is not a > currency. The economic assumptions underpinning the Bitcoin ecosystem are > laughable, and ignore hundreds of years of accumulated understanding of > how currencies work with each other. > > .... > > http://www.quora.com/Bitcoin/Is-the-cryptocurrency-Bitcoin-a-good-idea I don't consider it either thorough, or compelling. It's full of forceful assertions, strawmen, and errors. -- Eugen* Leitl <a href="http://leitl.org";>leitl</a> http://leitl.org ______________________________________________________________ ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org 8B29F6BE: 099D 78BA 2FD3 B014 B08A 7779 75B0 2443 8B29 F6BE
