I have no idea if it is solid or not but statements like:
"Bitcoin will be tested but from what we know about it at the moment, it looks solid."
worry me. Its easy to make things for ideal conditions. If bitcoin becaomes mainstream the stresses will be incredible. Where there is money to be made there are smart people looking for an angle and leverage. Even governments suffer:
This is an experimental mechanism. It is not based on main stream economics and it has no government or bank protecting it with regulation or defending it. The originators may have hit upon something new that is solid and can stand on its own two feet or they may have initiated the construction of a tower of cards.
Even if you are a full on supporter of bitcoin you would be mad to assume that it doesn't have a fatal flaw at this stage.
"Bitcoin will be tested but from what we know about it at the moment, it looks solid."
worry me. Its easy to make things for ideal conditions. If bitcoin becaomes mainstream the stresses will be incredible. Where there is money to be made there are smart people looking for an angle and leverage. Even governments suffer:
http://en.wikipedia.org/wiki/Black_Wednesday
This is an experimental mechanism. It is not based on main stream economics and it has no government or bank protecting it with regulation or defending it. The originators may have hit upon something new that is solid and can stand on its own two feet or they may have initiated the construction of a tower of cards.
Even if you are a full on supporter of bitcoin you would be mad to assume that it doesn't have a fatal flaw at this stage.