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@deleted
I accept and agree that a non-governmentally controlled fixed currency is beneficial to a inflationary liable fiat currency.
http://en.wikipedia.org/wiki/Bitcoin#Alternative_to_fiat_currency
What I don't understand is the benefits of technology behind bit-coin and how it helps & why its necessary.
How is it different to me putting all my money into a Paypal account?
How is it better than minting my own Gold coins?
My main worry is in the technology behind the mining of bitcoins. Seems to be limited by potential computing power, but what if computer processing power where to increase dramatically due to quantum computing or some other discovery that speeds up moores law.
Even if moores law remains constant they mining costs are also linked to energy costs which future prices are hard to predict.
http://en.wikipedia.org/wiki/Bitcoin#Energy_use_and_environmental_impact