On Wed, Jul 20, 2011 at 11:56:06AM +0200, Alfonso De Gregorio wrote: > I'd better rephrase it in: expectation to have "money backed by > bitcoins" exhibiting all the desirable properties of a perfect > currency (ie, stable money) are greatly exaggerated.
The question is not whether it's perfect, but whether it's good enough. BTC is basically a global version of http://en.wikipedia.org/wiki/Local_currency or http://en.wikipedia.org/wiki/Alternative_currency and hence isn't something completely new. It would be intesting to see whether BTC's successors could improve the scheme, by allowing a (subexponential) growth, built-in devaluation to encourage circulation and discourage hoarding (this would be probably hard to do), and so on. -- Eugen* Leitl <a href="http://leitl.org";>leitl</a> http://leitl.org ______________________________________________________________ ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org 8B29F6BE: 099D 78BA 2FD3 B014 B08A 7779 75B0 2443 8B29 F6BE _______________________________________________ cryptography mailing list cryptography@randombit.net http://lists.randombit.net/mailman/listinfo/cryptography
