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Author Topic: Don't chuck your Bitcoins  (Read 820 times)
7iain7 (OP)
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July 06, 2011, 04:52:22 PM
 #1


some reading for you all
http://technologyspectator.com.au/industry/financial-services/dont-chuck-your-bitcoins
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"In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. It takes advantage of the nature of information being easy to spread but hard to stifle." -- Satoshi
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Yankee (BitInstant)
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July 06, 2011, 05:29:52 PM
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This article is great, but if you read the comments there are some inaccuracies.

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1. No, Bitcoin was not created only to be in an exchange. In fact, they are not being used only in an exchange. Its a "surprising" affirmation.

2. Bitcoin has never been hacked. Its secure. A webpage was hacked, and the hacker added more bitcoins to the webpage database. The hacker changed a number in the database thats all. It was just the accounting of the database that was wrong. No real bitcoins were created. So no, bitcoins or the Bitcoin network were not hacked and is wrong to say so. Other reporters have corrected their mistakes in this regard because there were false claims in this direction.

For the rest, good article.


Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
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