The coin just got brought up on BoingBoing again

[oneforall]

http://boingboing.net/2011/07/25/bitcoin-alternative-distributed-but-not-decentralized-cash.html

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[jjiimm_64]

I'm done with this shit

I read the article...  all this does is VALIDATE how good bitcoin really is....  now they are trying to emulate it and call it better...  bitcoin is real.  if only for the fact that people will give you fiat currency for it!!!

[hugolp]

Someone in the comment nailed it. They are mixing the worst of both worlds. If you want a have a centralized currency you dont need hashes and shit, just have it.

[indio007]

This guy is an idiot.

He actually said this.


 

the idea is to make something unforgeable as cheaply as possible. This is why all modern currencies are fiat currencies instead of being made out of gold.

Currencies aren't fiat instead of gold because of forgery. To make such an asinine and ill-informed statement says to me this guy don't have a clue.

[CydeWeys]

"Distributed but not decentralized"?  What is that supposed to even mean?  Reading the actual proposal, it's neither distributed nor decentralized, but rather, centralized within a small number of entities.  Thus it has no commonalities with Bitcoin and all commonalities with credit card processors and PayPal.

[hugolp]

This guy is an idiot.

He actually said this.


 

the idea is to make something unforgeable as cheaply as possible. This is why all modern currencies are fiat currencies instead of being made out of gold.

Currencies aren't fiat instead of gold because of forgery. To make such an asinine and ill-informed statement says to me this guy don't have a clue.

+1

[kjj]

This guy is an idiot.

He actually said this.


 

the idea is to make something unforgeable as cheaply as possible. This is why all modern currencies are fiat currencies instead of being made out of gold.

Currencies aren't fiat instead of gold because of forgery. To make such an asinine and ill-informed statement says to me this guy don't have a clue.

Are you sure?  I always figured that we used paper money (and database entries) because it takes a lot of work to print a dollar bill, while counterfeiting gold only requires that you find another metal with the same color, density, specific heat and electrical resistance.  How hard could that be?     

[cdnbcguy]

This guy is an idiot.

He actually said this.


 

the idea is to make something unforgeable as cheaply as possible. This is why all modern currencies are fiat currencies instead of being made out of gold.

Currencies aren't fiat instead of gold because of forgery. To make such an asinine and ill-informed statement says to me this guy don't have a clue.

Correct - currencies are fiat so the govt can debase them.

[TraderTimm]

BoingBoing is a weird site.

While they occasionally have some interesting articles, most of them focus on Cory Doctorow's unfathomable obsession with Disney's Haunted Mansion ride, "Fun-gineers" and all that is Disney. Lets not forget steampunk doodads, raving reviews for any writer he's read, and other easily categorized subjects.

They blasted bitcoin early on in the comments, and no one from the boing boing staff really had a word in edgewise. They're too busy publishing articles about cryptozoology, crappy rap bands from south africa and other random nonsense. Its like you took google, scraped a random article and aggregated it on one website.

They don't understand the technology beyond some buzzwords "OOooh cryptography!" and get everything else wrong. Perhaps if we made a bitcoin client that was reskinned to look like Disney's Haunted Mansion, they might take interest.