27 May '13, 6pm

Every 100 new dollars that are put into circulation merely represent 100 new rows in the dollar block chain. #bitcoin

Quote from: BTConomist on Today at 04:54:11 PM Quote from: Operatr on Today at 04:41:27 PM The power of fiat for them is the ability to endlessly print new money. This money they mostly just give to themselves, creating a disgusting system of corruption. You can do that with bitcoin, provided you have the majority of the hashing power... Think "base units" per bitcoin (see "Output value "). This is only a hint, not an explanation. The printing of fiat currency is in no way like how the crypto economy works. You cannot simply "print" Bitcoins this way as you can't just create new physical gold out of nothing either. After 21 Million that is all the coins there will ever be, and no more can be created after that, ever. With the Dollar they just keep printing sheet after sheet of worthless money with zero intrinsic value or rarity. To have the majority of hashpower worldwide ...

Full article: https://bitcointalk.org/index.php?topic=210102.msg2287697...

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