On 02/25/2014 03:47 PM, Jed Rothwell wrote:
So I've heard. Ummm . . . What was that again are you talking about? I
still don't get it.
I have heard it is evil but I wouldn't know. See:
http://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/
- Jed
Well, it's a political issue to call it evil. Some people think it's one
of the greatest monetary inventions. Ironically, in that Krugman
article, he's not really calling it evil. He's basically saying that he
is having second thoughts about it, and may reconsider his original
negative attitude toward it.
But if you still don't get it, then imagine a paypal application on your
Android phone; only instead of the Paypal account holding US dollars, it
holds bitcoins. You can send or receive bitcoins from anyone, anywhere,
at any time, though a decentralized network of bitcoin nodes. Settlement
occurs in about 10 minutes, on average. Bitcoins can be exchange for
dollars, and all other international currencies, though local exchanges,
like MtGox, which had the lion's share of the business, until recently.
Craig
