17 Jan '13, 10pm

What is Bitcoin and why do I care? Excellent discussion on Reddit explains all about it: #bitcoin

the economics are that as more people mine, the mining gets harder, which causes less people to mine. it creates a stable rate of bitcoin generation, which keeps bitcoins at a certain exchange rate. look at it this way, if i made 10 bitcoins, and 10 only, each one would be incredibly valuable. and as more and more american dollars are printed, each individual bitcoin would be worth more and more american dollars because i'm not making anymore bitcoins, but the government is making more dollars (thus diluting the cash in the economy). if i produce just 1 bitcoin a day, i'm making more without lowering the exchange rate (because the rate of american money being printed is still faster than the rate of bitcoins being mined). in fact, the exchange rate would continue to climb, just at a slower rate than if i didn't make any new coins at all. if i made (hypothetically) 100 tril...

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WOW just got the jackpot ! #bitcoin

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