<div>I read up a little on it and found someone selling a pcb board for bitcoins:<br></div><div><a href="http://shrp.me/projects/apc/">http://shrp.me/projects/apc/</a></div><div><br></div><div>So that was my goal, to mine enough to buy that. After leaving it running on my computer for a week I had generated 0.05 bitcoins and gave up there.</div>
<div><br></div><div>It seems like a good idea, but the kind of people that would accept bitcoin are the same that would hoard it like gold and it doesn't really work as a currency unless it's being freely traded.</div>
<br><div class="gmail_quote">On Thu, Apr 7, 2011 at 3:03 AM, Yves Quemener <span dir="ltr"><<a href="mailto:quemener.yves@free.fr">quemener.yves@free.fr</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex;">
<div class="im">On 04/06/2011 11:20 PM, Justis Peters wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
On 04/05/2011 05:29 PM, Yves Quemener wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
If you don't know what bitcoin is or dismissed it like I did one year<br>
ago because it looked like a pyramidal scheme, look again.<br>
</blockquote>
This is exactly why I dismissed it. Can you make a further case as to<br>
why we should look again?<br>
</blockquote>
<br></div>
The Ponzi part was actually a way of distributing the initial amount of wealth and giving people an incentive to participate so there is a ponzi-like part, but there is also another part : It is actually a good protocol to maintain a register of transactions that is 100% distributed with no single point of failure and that is resistant to counterfeiting. Also there will never be more than 21 millions bitcoins in circulation, that is an important characteristic : the value can go down because people do not trust it but not because a central authority hided the number of BTCs really in circulation.<br>
<br>
Most of the BTCs enthusiasts are now conscious that people "mining" BTCs and not using them are a danger to that economy and that the current rate (0.8$ for 1 BTC) is probably way too high due to speculation.<br>
<br>
Now is a good time to begin using it as a currency to buy dematerialized goods : hosting, CPU cycles, development, web design, music, artwork, donations, etc... There are currently no legal framework for a small group of international enthusiast to exist and manage funds together. Bitcoin aims at doing that.<br>
<br>
There are currently 7 millions BTCs in circulation and that is supposed to be a $5.6 millions but I doubt that more than a few hundreds dollars worth are exchanged each day, so the value will probably go down dramatically. But even after that event, it will still be a transaction system that works and that allows micro-transactions (A BTC can be divided in 10e6 parts).<br>
<br>
I am willing to participate in this tentative economical hack and will begin to accept BTCs soon in my activity as a freelance developer.<br>
<br>
Iv<div><div class="h5"><br>
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