25 Jul '12, 4pm

"Bitcoin was developed as a way to exchange between people in a cash like fashion at a distance":

Mr. Kramer can use email to send and receive messages without understanding SMTP or POP syntax. He can write blog posts without understanding HTTP requests or MYSQL, and most certainly he will be able to use credit cards and buy books from Amazon whilst his transaction is protected by SSL. None of these things, these very complicated things, need to be understood fully before you can grasp their importance. SSL, upon which the entire commerce infrastructure is built, is nothing like putting a paper document in an envelope to be mailed by the government monopoly postal system and yet, it is used every day to secure documents in transit. PGP and Public Key Cryptography is used every day to sign documents in a way that means they cannot be forged; signing a document with Public Key Cryptography is not the same as putting your ‘John Hancock’ on a piece of paper, but it is a qu...

Full article: http://irdial.com/blogdial/?p=3064

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