Weekend Reading: Bitcoin Heist Edition

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Bitcoin "mining" is an incentive structure that has been instrumental in developing that exponential rise in participation. Just as with the automatic inflation regulation, mining is also a purely rational and self-regulating method. The whole concept of crypto-currency is pretty interesting. Currencies are only worth what the masses perceive them to be worth. I think if someone can keep their bitcoins safe, there's a pretty good opportunity in bitcoin mining during the short term. The value of bitcoins is going to rise as the difficulty level rises in mining them. (bitcoin) Here’s looking at you Microsoft tablet and google glass, but it opens the way for better and improved developments. The whole idea isnt to destroy any of the current paper currencies ... If you later learn that bitcoin is an good monetary system on par with precious metals, you will see the potential damage a post like yours could cause to the adoption of bitcoin. Please spend some time in the bitcoin wiki, forums, and #bitcoin-discussion and #bitcoin-dev channels on freenode and learn. March 29, 2011 at 12:26 PM I view Bitcoin "mining" as that relief valve, but it is a somewhat static element and may not be sufficient to offload enough during a large enough inflow. If that were to happen with the nascent Bitcoin environment, the stigma that would be associated with such forms of currency could set them back quite a ways.

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