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by davewritescode 3092 days ago
Gold has a price floor because it has some industrial utility and is useful for making jewelry.

All that has to happen to destroy bitcoin is a flaw in the implementation.

Seriously, look at OpenSSL and tell me the same issues aren’t possible in bitcoin.

When did we get so trusting of software that we decided it’d be a good idea to base currency on a distributed algorithm?

2 comments

The project can always fork if major issues are found.

Bitcoin is very very far from a perfect solution, but it is a solution to many problems currencies have.

Given how hard it is for the community to do something as simple as increase the block size a tiny bit, I'm not confident that a fork could fix such a problem.
making jewelry is in the store of value spectrum, with only industrial use, would be at 5% - 10% of current price.