Money system officially reversed by BoE

[SpontaneousOrder]

Aren't the miners doing that?

No. There is a maximum number of BTC that can exist. About 20 million.

[MicrosoftBob]

No. There is a maximum number of BTC that be stolen by hackers or hidden by their exchanges. About 20 million.

FTFY

[sasguru]

You realise he didn't write the article?

Why post such a pile of obviousity (to coin a phrase).

[ThomasSoerensen]

Why post such a pile of obviousity (to coin a phrase).

I think you need to un-flood your eco-shed. (to coin a phrase)

[oracleslave]

I think you need to un-flood your eco-shed. (to coin a phrase)

The curtains are so crusty they're waterproof.

[doodab]

Never mind bitcoins. Hobnobs are the future.

[tomtomagain]

I'm increasing using Bitcoin and other crypto currencies.

Try quantitative easing those BOE.

Yeah 'cos Bit Coins are safe.

But seriously fixed currencies ( such as gold backed paper ) suffer from deflation. That's why they were all ditched.

[tomtomagain]

No. There is a maximum number of BTC that can exist. About 20 million.

So there can only ever be 20M.

So what happens as the number of people using them increases? What happens to the "value" of each coin? It enters a deflationary spiral.

[darmstadt]

Never mind bitcoins. Hobnobs are the future.

I think you're right there, I've noticed them in Germany and France now. I think Digestives are also making a bid for future currency status as well, presumably the chocolate ones are worth more

[Peoplesoft bloke]

No. There is a maximum number of BTC that can exist. About 20 million.

Until there isn't.