Impressive! It's supposed to be analogous to mining gold. The minimum value is determined by the value of the effort to extract it ( man-hours or power equivalents, etc. ). That's why they call it mining.
That sets the lower limit on its value and prevents much inflation -- brilliant. What I like is it keeps the bureaucrats out of free trading among individuals. As far as thefts, it's not much different than physical cash, you just have to keep your coins secure -- it's up to you. Hoyt -----Original Message----- From: Terry Blanton [mailto:[email protected]] Sent: Tuesday, February 25, 2014 7:25 PM To: [email protected] Subject: Re: [Vo]:[OT] 740,000 Bitcoins Missing I've studied bitcoin and litecoin for several months now. Both have wiki articles which take a while to understand what's going on. You create the coins by solving encryption puzzles. As more coins are mined, the puzzles get more complex. Bitcoin has been around for a while and are very difficult to mine. Look at some of these bitcoin mining setups: https://www.google.com/search?q=bitcoin+mining+rigs&source=lnms&tbm=isch&sa= X&ei=clANU7fzMILQsQTVuYEw&ved=0CAgQ_AUoAg&biw=854&bih=578 --- This email is free from viruses and malware because avast! Antivirus protection is active. http://www.avast.com
