[cryptography] Bitcoin observation

James A. Donald jamesd at echeque.com
Fri Jul 8 21:15:26 EDT 2011


On 2011-07-09 2:05 AM, John Levine wrote:
> 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.

You can buy stuff with bitcoins, therefore are money.

Possibly their main value is buying illegal stuff, for which usage we 
really need Chaumian coinage backed by bitcoin's, bitcoins themselves 
being backed by nothing at all.



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