[FoRK] bitcoins vs. alchemy

Joseph S. Barrera III j3 at barrera.org
Wed Dec 5 16:26:18 PST 2012

There would never have been a gold standard if alchemy were possible. 
The supply of gold is roughly constant. That's a precondition of the 
gold standard.

But crunching bits improves every day... clock rate and algorithms and 
better architectures (GPUs). And amazing things can be done when solving 
a very specific problem (e.g. mining bitcoins).

So what rational person would invest in bitcoins?

- Joe

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