[Crowbob]

Aha!

A breakthrough!

Thank you, gentlemen (especially Wayne)!

I’m gonna reread all this, digest it for awhile. I’m honing in on Bitcoin being a synthetic currency. Simplisticly speaking, like paper currency replaced gold as the global medium of exchange, Bitcoin replaces paper and all of it is secured in a mathematical cybervault. Like mining gold, mining bitcoin is purposefully extremely difficult and extremely expensive. And since there is an arbitrarily finite number of bitcoins in existence, trading what is already owned is much more feasible than mining it.

So, if I’m even close to understanding it, banks and governments hate cryptocurrency because #1 they don’t own it, #2 they can’t print it, meaning #3 they can’t control it.

Wow!