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Comment: Re:Nothing has been lost! (Score 1) 290

by catprog (#48834721) Attached to: Bitcoin Volatility Puts Miners Under Pressure

That logic works with any modern currency system.

Even if it is linked to Gold. Unless you are using it for its physical properties, the fact that it is valuable is because of scarcity. So we attach an artificial value based on our human needs to want what is scarce.

Currency in general is just common agreement to scale work for goods and services. Because we live in a world where we cannot get everything we want.
Bit Coins are actually more real then the US Dollar. Sure we get a paper or coin note stating that this represents so much. But at least bit coin is connected to something in limited supply thus needs to be shared.

Tell me how much food you can buy with bitcoins when there is no electricity.
Then we'll talk about what is real.

Does that mean cards(Credit or debit) are not real?

Comment: Re:"plenty of flat land to go around (Score 1) 165

by catprog (#48834485) Attached to: Elon Musk Plans To Build Hyperloop Test Track

First to create a workable, marketable, functional-in-the-real-world electric cars and created the first new successful car company in the US in decades to design, build, and sell them.

Actually, that was Ford but the market didn't exist to support the concept in the short term. Elon just happened to have a ton of cash at the time that the technology matured and other automakers were feeling the bite of a bad economy.

So Ford did not create a workable/marketable electric car then.

Comment: Re:Uninterested people aren't worth it (Score 1) 480

by catprog (#48814285) Attached to: How Bitcoin Could Be Key To Online Voting

I am in Australia. I can vote at any polling booth in the state (except for council elections which is any in the council area) and some of the ones in other states if I am interstate.

I can think of one group that does not have licenses. Older people, they feel like they can't drive safely and so do not get a licence.

And to get photo ID in most cases you need a birth certificate. To get that you need a photo ID. If you have neither you are in trouble.

It is not best to swap horses while crossing the river. -- Abraham Lincoln