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+ <a href="http://people.skolelinux.org/pere/blog/">Petter Reinholdtsen</a>
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- <div class="title">Some thoughts on BitCoins</div>
- <div class="date">2010-12-11 15:10</div>
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-<p>As I continue to explore
+ <div class="entry">
+ <div class="title">Some thoughts on BitCoins</div>
+ <div class="date">11th December 2010</div>
+ <div class="body"><p>As I continue to explore
<a href="http://www.bitcoin.org/">BitCoin</a>, I've starting to wonder
what properties the system have, and how it will be affected by laws
and regulations here in Norway. Here are some random notes.</p>
easy to spend it. At the moment BitCoin seem fairly easy to get
access to, but there are very few places to spend it. I am not really
a regular user of any of the vendor types currently accepting BitCoin,
-so I wonder when my kind of show would start accepting BitCoins. I
+so I wonder when my kind of shop would start accepting BitCoins. I
would like to buy electronics, travels and subway tickets, not herbs
and books. :) The currency is young, and this will improve over time
if it become popular, but I suspect regular banks will start to lobby
<p>The process of creating new BitCoins is called mining, and it is
CPU intensive process that depend on a bit of luck as well (as one is
competing against all the other miners currently spending CPU cycles
-to see which one get the next lump of cash. The "winner" get 50
+to see which one get the next lump of cash). The "winner" get 50
BitCoin when this happen. Yesterday I came across the obvious way to
join forces to increase ones changes of getting at least some coins,
by coordinating the work on mining BitCoins across several machines
BitCoins. Check out
<a href="http://www.bluishcoder.co.nz/bitcoin-pool/">BitCoin Pool</a>
if this sounds interesting. I have not had time to try to set up a
-machine to participate there yet.</p>
+machine to participate there yet, but have seen that running on ones
+own for a few days have not yield any BitCoins througth mining
+yet.</p>
+
+<p>Update 2010-12-15: Found an <a
+href="http://inertia.posterous.com/reply-to-the-underground-economist-why-bitcoi">interesting
+criticism</a> of bitcoin. Not quite sure how valid it is, but thought
+it was interesting to read. The arguments presented seem to be
+equally valid for gold, which was used as a currency for many years.</p>
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- <div class="tags">Tags: <a href="http://people.skolelinux.org/pere/blog/tags/bitcoin">bitcoin</a>, <a href="http://people.skolelinux.org/pere/blog/tags/debian">debian</a>, <a href="http://people.skolelinux.org/pere/blog/tags/english">english</a>, <a href="http://people.skolelinux.org/pere/blog/tags/personvern">personvern</a>, <a href="http://people.skolelinux.org/pere/blog/tags/sikkerhet">sikkerhet</a>.</div>
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+ <div class="tags">Tags: <a href="http://people.skolelinux.org/pere/blog/tags/bitcoin">bitcoin</a>, <a href="http://people.skolelinux.org/pere/blog/tags/debian">debian</a>, <a href="http://people.skolelinux.org/pere/blog/tags/english">english</a>, <a href="http://people.skolelinux.org/pere/blog/tags/personvern">personvern</a>, <a href="http://people.skolelinux.org/pere/blog/tags/sikkerhet">sikkerhet</a>.</div>
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