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Originally Posted by Traveler
Doesn't bitcoin require a huge amount of processing power?
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yes.
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it seems like bitcoin is a cross between a commodity and a credit card.
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that's a good description
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This currency is perfect for criminals, as it leaves no trace.
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The ledger is open source so anyone can trace any transaction. It's not good for criminal transactions. Criminals use cash because it leaves no trace.
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It is ripe for abuse as we see with all the computer hacking/hostage taking and demanding payment in bitcoin. I just don't see the positives outweighing the negatives.
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There is some crime going on, but most crime is done in cash and all dirty money is laundered through businesses and banks that we accept as 'normal'.