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Old 04-01-2011, 06:53 AM  
signupdamnit
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Quote:
Bitcoins can be sent easily through the Internet, without having to trust middlemen.


Quote:
Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system?s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.
I haven't read much into bitcoin in a long time but I would think this might make it prone to inflation if CPU power rapidly advances. I wouldn't want to hold a significant number of bitcoins if for whatever reason CPU power available to the public versus energy efficiency tripled in the course of a year. In theory if I understand correctly that would mean the value of 1 bitcoin would be 1/3 less all other things being equal.

That said I have seen it become pretty popular in certain circles and wouldn't mind it for one off payments. I don't know if I would want to stake a business on it however.

Last edited by signupdamnit; 04-01-2011 at 06:59 AM..
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