You got to love this comment from a Mr Spengler.
Bravo!
Quote
SpenglerAZ
The problems with virtual currencies:
1) Not convertible to real currency
2) Government authorities can shut them down,
rendering them worthless
3) Possibility for counterfeiting/fraud
The first movers and insiders profit, and the followers are vulnerable.
Kind of reminds you of a chain letter, doesn't it?
The problems with virtual currencies:
1) Not convertible to real currency
2) Government authorities can shut them down,
rendering them worthless
3) Possibility for counterfeiting/fraud
The first movers and insiders profit, and the followers are vulnerable.
Kind of reminds you of a chain letter, doesn't it?
Bravo!
I wish we could force everyone who wants to write about bitcoin to start by spending a day or two to understand the byzantine generals problem.
