News for hackers. Stuff that matters.
Re:Bitcoin makes journalists say stupid things by cs702 on Friday April 05, 2013 @03:21PM (#5500448)
Nemo_: sorry for the relatively poor level of discourse in this thread. Few people without a working knowledge of basic cryptography seem to understand that Bitcoin is, in a mathematical (i.e., true) sense, as indestructible as the hashing and signing algorithms it relies on to maintain integrity. Exchange markets like MtGox and online wallet-storage services like InstaWallet might be hacked and fail, but not Bitcoin (at least not without major mathematical advances that would render the entire Web insecure as a byproduct).

PS. You will enjoy reading this post on the origins of money, in which among other things the author analyzes the common properties of many commodities used as money throughout history -- including not just gold and silver but less-well-known materials like wampun shells, ivory beads, and ostrich egg shells: http://szabo.best.vwh.net/shell.html

Re:Bitcoin makes journalists say stupid things by danmaz74 on Friday April 05, 2013 @03:32PM (#5500515)
Uhm... if the owner of some bitcoin loses (eg, disk crash and no backup) his secret keys, aren't his bitcoin lost for any practical meaning of the word?
Re:Bitcoin makes journalists say stupid things by cs702 on Friday April 05, 2013 @03:47PM (#5500618)
Yes, of course -- very much like losing a physical wallet with cash inside it or a bag with gold coins. Lost forever. Just like paper currency. Just like gold. Unlike paper currency or gold, however, bitcoins can be encrypted and backed up.