Email of the day
Comment of the Day

April 30 2013

Commentary by Eoin Treacy

Email of the day

on Bitcoin
“I remember reading your comments on Bitcoin some days ago and I would like
to address some points.

“Bitcoin is not a company - it's an open-source technology. (And that's why governments are afraid of it - there is no single 'throat to choke', it is distributed around millions of computers on Internet) In a nutshell, it's a digital construct based on really complex math and crypto which

1) determines available supply (more like gold than like US dollar!) and

2) a mechanism to ensure you can't spend it twice (important for digital things!) It had a huge spike this year - from ~15 to ~266, then dropped to ~60. Now it is around ~140 again, very interesting chart pattern.

“Here's one good source for charts:

“My son is an editor at (UK-originated) Bitcoin magazine and they have both a print edition and a website. Website has some good 'newbie' article, e.g. this one

Eoin Treacy's view Thank you for this informative email and the associated links. Bitcoin is certainly topical.

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