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re: Bitcoins were hacked yesterday?
Posted on 4/4/13 at 3:15 pm to ZereauxSum
Posted on 4/4/13 at 3:15 pm to ZereauxSum
quote:But IP can be copied, and it only retains value through laws and artificial scarcity. Bitcoins are scarce through fundamental mathematical laws of the universe, and they have value as long as someone is willing to accept them.
IMO, IP like a book or even an idea has value because it entertains, instructs, and/or explains events that happened in the real world.
quote:That's kind of the point.
I can write a book from scratch (even a crappy one) that someone would possibly buy. If I use a random number generator to produce hash tags the network will reject them as worthless.
1
Posted on 4/4/13 at 3:48 pm to Korkstand
quote:
But IP can be copied, and it only retains value through laws and artificial scarcity.
I disagree. If I figure out how to build a machine that converts air into food, that idea has value wether I patent it or not. It will help people regardless of what patent laws exist.
quote:
Bitcoins are scarce through fundamental mathematical laws of the universe,
But a bitcoin doesn't necessarily have to be scarce or finite. The person(s) who developed it could have just as easily said that every prime number is a bitcoin. It may be math but its still arbitrary.
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