<div dir="ltr">The problem with that argument is that we currently have no way to ensure the desirable properties of bitcoin without making it very difficult to create more bitcoins. †It is decentralized, cryptographically sound (as far as I know), reasonably secure and stable, and impossible to counterfeit. †I think it is an interesting experiment that has people worried about the possible impact on existing financial systems.</div>
<div class="gmail_extra"><br><br><div class="gmail_quote">On Sun, Apr 14, 2013 at 10:19 PM, Stephen Kraus <span dir="ltr"><<a href="mailto:ub3ratl4sf00@gmail.com" target="_blank">ub3ratl4sf00@gmail.com</a>></span> wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="ltr">Paul Krugman, Nobel Laureate in Economics thinks otherwise.<br><br><a href="http://www.huffingtonpost.com/2013/04/13/paul-krugman-bitcoins_n_3076574.html" target="_blank">http://www.huffingtonpost.com/2013/04/13/paul-krugman-bitcoins_n_3076574.html</a><br>

<br><br></div><div class="HOEnZb"><div class="h5"><div class="gmail_extra"><br><br><div class="gmail_quote">On Sun, Apr 14, 2013 at 10:04 PM, William Wade <span dir="ltr"><<a href="mailto:willm.wade@gmail.com" target="_blank">willm.wade@gmail.com</a>></span> wrote:<br>

<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="ltr">I wonder how much power and†environmental†resources it takes to do money the old†fashioned†way. The power it takes to create a bitcoin is part of what gives it value and stability.<div>

<br></div><div>I think Adam Smith would be†intrigued†by bitcoin, but like everyone else will not really know what to make of it until more time passes.</div>

</div><div><div><div class="gmail_extra"><br><br><div class="gmail_quote">On Sun, Apr 14, 2013 at 9:31 PM, Rod-Lists <span dir="ltr"><<a href="mailto:rod-lists@epbfi.com" target="_blank">rod-lists@epbfi.com</a>></span> wrote:<br>



<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">From Slashdot<br>
Is Bitcoin Mining a Real-World Environmental Problem?<br>
"Mark Gimein points out that Bitcoing mining uses a lot of power, enough that it is a real world problem: 'About 982 megawatt hours a day, to be exact. Thatís enough to power roughly 31,000 US homes, or about half a Large Hadron Collider."<br>




<a href="http://news.slashdot.org/story/13/04/14/2234251/is-bitcoin-mining-a-real-world-environmental-problem" target="_blank">http://news.slashdot.org/story/13/04/14/2234251/is-bitcoin-mining-a-real-world-environmental-problem</a><br>




<br>
Krugman argues "Adam Smith Hates Bitcoin"<br>
<a href="http://krugman.blogs.nytimes.com/2013/04/12/adam-smith-hates-bitcoin/" target="_blank">http://krugman.blogs.nytimes.com/2013/04/12/adam-smith-hates-bitcoin/</a><br>
<br>
Krugman and others have argued that Bitcoin is experiencing deflation in relation to other currencies.<br>
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