[cryptography] Digital cash in the news...

James A. Donald jamesd at echeque.com
Sun Jun 12 22:05:29 EDT 2011


On 2011-06-13 9:26 AM, Ian G wrote:
> However. Unless the laws of financial conservation have been repealed by
> the design, those who follow have to invest a lot and come out with less...

Financial conservation does not apply to money.  If paper currency 
collapses, and is replaced by gold, those who invest in bitcoin will 
come out with nothing.  If paper currency collapses, and is replaced by 
bitcoin, they will come out with immense fortunes.

The market is at present rating the prospect of the world going to a 
bitcoin standard rather than a gold standard at two chances in a 
million, which seems reasonably conservative.




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