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julz (OP)
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May 12, 2012, 12:27:16 AM
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The FBI Is Terrified Of Nerd Fad Bitcoin

Dan Seitz
2012-05-11

http://www.uproxx.com/webculture/2012/05/the-fbi-is-terrified-of-nerd-fad-bitcoin/


...
The problem is that Bitcoin is backed by, well, nothing. It basically runs on clapping your hands and believing, which makes it incredibly volatile, as enthusiasts are learning the hard way. Once it becomes too hard to mine blocks, people will simply stop caring and move on to some other fad, and Bitcoins will become worthless.
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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May 12, 2012, 12:30:54 AM
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Maybe they should have a gander at this:

http://bitcoinmedia.com/market-volatility-has-gone-down/
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