You are viewing a single comment's thread from:

RE: Bitcoin Security – It's More Robust Than You Think

in Bitcoinlast year (edited)

I can never understand how the beast works, though I kinda trust the tech. Investigating the guts of Bitcoin is way too complicated. The monetary aspect of it is what keeps me in.

In a free market, if the market demands solvency from banks, insolvent fractionally reserved banks will fail, because there's no bitcoin to be printed for bailouts.

This is particularly important. No more bailouts. No more money printing creating all sorts of bubbles; bubbles need to pop to reset the market.

Sort:  

I can never understand how the beast works, though I kinda trust the tech. Investigating the guts of Bitcoin is way too complicated.

Not necessary to understand all the technical details, but I like the challenge. Just understanding that bitcoin is open source code, which means there are a lot of eyes looking for bugs, is enough. And the few bugs there have been, they have been fixed – and they can be fixed on a decentralized system because people likely agree to not run a buggy software.