On 02/25/2014 07:46 PM, Jed Rothwell wrote:
Giovanni Santostasi <[email protected]
<mailto:[email protected]>> wrote:
Bitcoin will be 1 Million dollars by 2019.
Until a 16-year-old Russian Hacker gets into the bank, the way one got
into the Target credit files. A week after that, the Bitcoin will be
worth $14.38.
- Jed
There is no bank. There are over 100,000 nodes maintaining a shared
public ledger as to who owns what. Every time a transaction is made, it
goes into the public ledger. To hack Bitcoin, you need a majority of the
entire system's processing power, (or someone could break sha256
encryption, which would bring a lot of other things down, too). There is
no central location or authority.
Craig
