[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Microsoft accepts Bitcoin



>
> Basically the
> future of finance is less humane (Bitcoin is hard currency) and more unfair
> (Bitcoin is unfairly distributed). It is also not, in practice,
> distributed


I suggested on the bitcoin forums and devlist that currency minting be the
square root of current block hashing power, this would be inflationary yes,
but it would stabilize the currency and incentize mining (unlike current
plans to reduce fees further).

but you know, a hundred people who first heard of bitcoin through the
cryptography mailing list either lost their bitcoins, or own combined a
large percentage of bitcoins.

inequality begets instability.

the funny thing is that after the next block subsidy cut, a 51% attack
would easily be committed.

but if there's a major war, the world's internet connections will be
disrupted, and bitcoin would probably die in areas in which mining is less
than the biggest contiguous block of miners.

Bitcoin is the worst currency to hold during WWIII, you literally cannot
spend it until the world internet is repaired.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://cpunks.org/pipermail/cypherpunks/attachments/20141212/c2b66ddc/attachment.html>