ST Alpha - "ah, but it can't be created. because the record is public, you can't just "make" more bitcoins through your own initiative." (Reading a Post)

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In response to "Honestly, I think it's silly. It's like deciding to return to the gold standard, only creating it out of thin air." by pmb

ah, but it can't be created. because the record is public, you can't just "make" more bitcoins through your own initiative.

Posted by colin (aka colinski) Jan 2 '14, 15:43

read the explanation i posted above.. it's very good. it's a pretty cool system in how simple it is.

Responses:

No, you just create Coinye's or megacoins, or other bscoins until the market is too confused and flooded for it to hold up. -- nm - pmb Jan 2, 15:50 3
- it takes users to make a currency. we can make ST coins and pay each other with them... but it's not the same as something with millions of people. -- nm - colin Jan 2, 15:51 2
  - But its already happening. When people see dollars being made (note: actual currency), they keep trying to recreate it until it runs into the ground. -- nm - pmb Jan 2, 15:56
  - Iirc, there's only ever going to be 21mil bitcoins in existance at a max - Will Hunting Jan 2, 15:54

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