[cryptography] Bitcoin observation

John Levine johnl at iecc.com
Thu Jul 7 21:53:15 EDT 2011


>It is my intuition that nation states of all stripes aren't going to
>like them. Some set of them would be happy to let the banks and
>speculators take care of it. Some of them would engage in actual
>hacking to hurt the currency, and the interesting property that
>destroying a bitcoin is a worthwhile attack makes it even more
>interesting.

My impression is that it's not a problem, since I don't think there
are any significant governments so ignorant of macroeconomics to
confuse Bitcoins, which are commodities, with money.

Recall that Liberty Dollars only got into trouble because they claimed
they were dollars.  Nobody cares about the price of a novelty
commodity.

R's,
John



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