achaios
Forum Supporter
I am leery of bitcoin and other cryptocurrencies for one reason: Who says that all algorithms are as efficient as the current ones? What happens if somewhere down the line, some mathematician comes up with a shortcut, making "mining" a much faster activity, or busting the encryption on the current bitcoins?
With government currencies, you at least have the "good faith" of the government (what little of that there is), but what happens if some day, nobody wants bitcoins (the monkey example at the top of the thread)?
Read about the Dutch Tulip collapse. I don't see too many differences between that and cryptocurrencies.
-- Tom
With government currencies, you at least have the "good faith" of the government (what little of that there is), but what happens if some day, nobody wants bitcoins (the monkey example at the top of the thread)?
Read about the Dutch Tulip collapse. I don't see too many differences between that and cryptocurrencies.
-- Tom
