Quote from: benjamindees on May 18, 2011, 10:47:27 PM

TECHNICALLY the author of this piece never once mentions the TECHNICAL problem which Bitcoin was created to solve. And the entire point is that it doesn't have to be TECHNICALLY perfect in order to do so. That's the difference between an economic system and a mathematical system. The best economic system in the world doesn't have to be mathematically correct, because people are far from perfect and the alternative is basically trading with each other using scraps of paper, shiny rocks, or groundless faith in far-off bureaucrats.

Let's put it this way, my house doesn't have to be able to withstand a nuclear attack in order for it to be an economical way to protect myself against thieves.

I read the points raised and felt that the author is not correct, particularly as I also think that bitcoin is good enough at what it is. I don't feel inclined to go back and address the article point by point, suffice to say that bitcoin is useful for what it can be used for, and that it will so be used.