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I don’t follow the crowd blindly and I have thought a lot about bitcoin. First of all, bitcoin is decentralized – there is no one person, institution, company, bank, government, that has control of the bitcoin network. Also, it doesn’t matter who created bitcoin – the code is open source, available to anyone who wants to verify that bitcoin functions the way it is supposed to do. If the creator of bitcoin does reveal themselves one day, it won’t matter – they won’t have any more control of the bitcoin protocol than anyone else. How do we know this? Simple, go review the code and see for yourself: https://github.Com/bitcoin/bitcoin

I agree 100% that gold is the best. However, it is very obvious that gold is not being used as money today (except for some remote places on the planet), and as you said, there are no currencies backed by gold.Bitcoin amount for the most part, we have been left with one option: fiat money that is created by corrupt governments. But now we finally have an alternative currency that actually works: bitcoin.

So what I have realized is this: we can stay slaves to a system of fiat currency controlled and manipulated by corrupt government or, we can search for alternatives that might help us break free from such a corrupt system.

You don’t have to take my word that fiat has many haram aspects: http://www.Scribd.Com/doc/136825096/judgment-on-fiat-currency-pdf

With bitcoin however, I have yet to find anything haram about it (don’t say, well it is used for drugs – any good currency is going to be used for illegal activities).

Bitcoin might fail for one reason or another, but it does deserve a closer look if we ever hope to have an alternative to fiat.Bitcoin amount so please, don’t be so dismissive of such a remarkable technology.

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You’re allowing some unknown server to monitor your graphics processor (GPU) to help crunch numbers.

Uh… What? If you are talking about mining, there is no server monitoring your graphics card. If you use a pool, the pool server sends some work to your client, which your client crunches, and sends back to the pool master. There is no server monitoring your GPU. If you are mining without a pool, then there is no server involved. It’s a peer-to-peer protocol.

The person who wrote bitcoin software refuses to be identified.

What does that have to do with anything?

Why do you think so many sites have CAPTCHA boxes? (where you must type in what’s displayed in a graphic box.) it’s because in third-world countries they have teams of low-lifes trying to break into password protected sites.Bitcoin amount

Again, what does that have to do with anything?

Who would have the motivation to own and build server farms full of high-end pcs

Well, as someone who has a lot of large equipment at home, I know that a lot of people started mining initially just for fun. The technology is very interesting in the way it works, and for geeks like me, it’s something fun to play with. I think a lot of people only later realised that it can be traded for real money.

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