8) #Bitocin, as a global currency, can only become more speculative!! (with its good random numbers production and predictability)

Bitcoin in its mechanism gives power to (those who can) spend large computing power (producing heat) with high discrimination in rewarding only one producer, but not the rest challenging the random numbers. But bitcoin also has one good thing:

  • producing good random numbers with predictability as for the amount per time , by making it harder to make the number as faster it was made, but only when relying on the goodness of the peers to announce the solution in time, making the mechanism being good only in secretly producing random numbers.

And hence with such predictability and with its low transparency level, bitocin, as a global currency, can only become more speculative.
By pilepile, on 19 Nov 2013 08:46 history Tags:


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