Texas/New Mexico Stateline | Well, I spent 1/2 hour reading about it and still don't understand it very well. Especially the talk about "blocks" and creating bitcoins.
But I did understand that there will only be so many created eventually. Something like 21 million. So they think it won't inflate like dollars where more and more and more is printed. BUT each bitcoin can be divided infinitely. Which to me would result in the same thing. As it becomes more circulated, the bitcoins get more divided up into smaller and smaller pieces, you will still have inflation???? Need the big money Gurus on here to look into this deal.
At first glance I think it has a real chance of becoming a viable way to compensate people. Once it is proven to be secure. And more accepted. For now it looks to be more of a game like you play on Bookface.
Or something entirely different may come along, especially if a big outfit like Google or Bookface were to get behind it.
Can you imagine being able to buy stuff online with your Googlecoins? Walk into McDonalds with your smart phone and it takes out .000001 Googlecoin out of your virtual wallet for a Big Mac.
Wonder how Uncle Sam would handle that? Higher and higher taxation and these "crypto currencies" will become more and more attractive.
Edited by milofarmer1 3/25/2013 21:32
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Let's discuss Bitcoin
