BitTorrent Inventor Bram Cohen Will Start His Own Cryptocurrency

Re:BitTorrent Inventor Bram Cohen Will Start His Own Cryptoc... by timbowhite on Monday April 24, 2017 @08:02PM (#14189625)

> why so many people consider cryptocurrencies to be such a big deal.

Sending value anywhere in the world in a very short amount of time without having to trust a middleman.

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Re:BitTorrent Inventor Bram Cohen Will Start His Own Cryptoc... by freehunter on Monday April 24, 2017 @08:07PM (#14189647)

But then you have to trust a middleman to convert it into something that's actually usable. It's like gold, I can send it anywhere with DHL or UPS, but my recipient is going to have to find someone to convert it to local currency before they can actually use it. As a result, not many people send gold back and forth.

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Re:BitTorrent Inventor Bram Cohen Will Start His Own Cryptoc... by StavrosK on Monday April 24, 2017 @08:28PM (#14189762)

That's not why your grocery store doesn't accept gold for a pack of gum, though. If you could have an unforgeable, standard-sized, $0.01 nugget of gold, you wouldn't have to convert it, you'd just pay with that.

That's what cryptocurrencies could offer.

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Re:BitTorrent Inventor Bram Cohen Will Start His Own Cryptoc... by kmicklas on Monday April 24, 2017 @08:32PM (#14189778)

I suspect that is not the reason people do not send gold back and forth.

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