An interested piece Wired on Bitcoin flaws as currency.

From: Rod 

Using Opera's mail client:

=============================================================== From: James Nylen ------------------------------------------------------ One thing that may help is that it's possible to structure more complex transactions like escrows using the Bitcoin protocol, if both the sender and receiver can agree on a trusted third party. You can do lots of other interesting and novel things with these features. See:

=============================================================== From: Lynn Dixon ------------------------------------------------------ I really thought the fact the authors whole argument was that theres no "back button" that would allow a transaction to be reversed. I don;t think he understands how a currency works. When I pay someone in cash (Lets say I bought a car from someone and paid cash) theres no "back button" on this transaction. I cant recall my US Dollars back from the seller. Thats the attractiveness of cash. Its way to easy to scheme the current system of reversible transactions, which is what drives TONS of fraud (Paypal, ACH, bounced checks, etc). I hate to say it since its so obvious but caveat emptor.

=============================================================== From: Stephen Kraus ------------------------------------------------------ Well, he is a Berkeley Researcher. Appeal to authority it may be, but he probably at least has the research skills to find out if his opinion has some basis. Caveat Emptor does not preclude seller guarantees, if a seller sells an item and then violates the sale of the contract caveat emptor no longer applies. I think that is what he is getting at, if the sale finalizes and the seller rips you off...what do you do? Simply declare caveat emptor? Good luck selling the idea of non-refundable or returnable sales under contract to fortune 500s.

=============================================================== From: Stephen Kraus ------------------------------------------------------

=============================================================== From: Stephen Kraus ------------------------------------------------------

=============================================================== From: William Roush ------------------------------------------------------ I thought economists generally favored a

=============================================================== From: Stephen Kraus ------------------------------------------------------ Slight being the key word. Fluctuations between inflation and deflation are okay. Hyperinflation and hyperdeflation are bad. You want the middle ground for a stable currency.