Re: I need to study it more
Bitcoin is generated at a mathematically regulated rate. There will only be a set number of them once all of them have been mined. This makes them precious much like gold or silver. Where they are superioir to precious metals are their portability and security. Once world legder is maintained and copied by everyone. It is regulated by mathematics and cryptogarphy(Not some corrupt financial institution). It allows everyone in the world access to banking services at very cheap prices without the need for a bank. Another benefit is that bitcoin is just one application on the blockchain. Voting, crowd funding, peer to peer lending, financial instruments can all ride on the block chain and the greatest part is scumbag bankers cannot defraud it. - My two cents... I am a IT Systems Engineer.
Biting the hand that feeds IT
