What part of "with many devices" do you not understand? It may work small time, but when the network has to route billions of devices, that is when things get dicey. The official project website states that they don't know if it will work.
I'm a coder, I can see the "cool factor", but this is an unproven theory.
Bitcoin doesn't represent human labor, it represents clock cycles. Are other people supposed to say "you spent clock cycles on that, so I'll reward you"? Some currencies represent real labor, but even then, what makes them technically different from FRN? Sure, someone had to work for it, rather than simply decide to create it, but in the end they were both just printed.
What can you do with a Bitcoin besides sell it? Nothing. It has no genuine use. They have no physical properties; they're not wealth. You are just as much trading nothing when you trade a Bitcoin as when you trade an FRN.
What we SHOULD be doing, instead of playing politics.
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