Bitcoin News Journal

Dan Kaminsky : Bitcoin Is A Big Deal


Dan Kaminsky, a leading internet-security expert, posted his thoughts on Bitcoin. In a recent Wired article, Dan stated “Bitcoin’s no more disruptive to the dollar than the euro — but it’s still a big deal.” Dan also talked about Bitcoin security, price volatility, future of Bitcoin, comparison with gold and some other perspective .

Future of Bitcoin

Highlights of Dan Kaminsky thoughts :

If the dollar can coexist with the euro, an economic melding of epic scale, it can survive bitcoin. And let’s be honest, when governments around the world discuss Cyprus, Bitcoin’s not coming up all that much.

An unregulated resource is behaving wildly. This is what unregulated resources do, in every network imaginable. With Bitcoin, the supply of this awesome thing completely ignores the demand for it.

Fraud is what makes every money transfer system buggy. As a security professional, I am deeply aware of why Paypal blocks accounts, why credit cards limit who we can pay, why Jamba Juice doesn’t want to be on the hook for the validity of $100 bills and the loss of $95 in “change”: If these businesses aren’t paranoid and customer-hostile, they lose hundreds of millions of dollars. It’s that simple.

You can read the complete article : Bitcoin Is Not as Secure, Unregulated, or Lucrative as You Might Think.


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