[cryptography] Bitcoin observation
johnl at iecc.com
Fri Jul 8 12:05:56 EDT 2011
>> 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.
>I seem to recall a problem with derivatives in the past, and we still
Sorry, I have no idea what this complete nonsequitur is supposed to
mean. We've had a problem with E.Coli in bean sprouts, and we still
have those, too.
> I believe if wall street could figure out a way to make money on
> BitCoins, they would be legitimized and macroeconomics would be set
> aside again.
Bitcoins are way too small a market to be interesting to Wall St.
Really, they're pet rocks, worth a few dollars to anyone who thinks
they're cute. Once you understand that, all of the "surprising"
characteristics become obvious.
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