hawtdawg
Golden Member
- Jun 4, 2005
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This is very interesting, but strikes me as "Too good to be true". It just doesn't have any logic behind --- there is value in calculating random, useless code? No, there isn't.
Who is pegging the value of bitcoins? Who gives them that authority? Who's to say that someone won't be able to forge bitcoins easily, since they are only computer based?
Those are just a few things that will stop bitcoins from ever becoming recognized. The likelihood that any legitimate entity will ever recognize or lend credibility to bitcoins is probably zero.
the perceived value of the coins comes from the system that is in place. It is anonymous and decentralized and the coins are produced at a controlled rate. Not that I condone it necessarily, but its a dream for those looking to launder money or conduct black market deals.
it also has an anarchist appeal as far as being able to circumvent the governments control over monetary system/policy.
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