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<p>[QUOTE=&quot;InfleXion, post: 2659852, member: 29012&quot;]The creator of BitCoin has understandably kept a low profile considering he is probably very wealthy. What&#039;s backing it is the protocol it&#039;s using. It has a built in deflation algorithm in that there are a finite number of BTCs that can come into existence (through mining, giving your CPU resources to the BTC network in exchange for fractions of BTC) after which if demand remained steady then price would rise, but steady demand is not a foregone conclusion. And there is a community of programmers who work on improving the protocol, not to mention Amsterdam has adopted a version of it as their currency recently.</p><p><br /></p><p>The hacking was of the exchanges. The only way to have your actual BTC hacked is if you keep your wallet file unencrypted or accessible by others, like in the cloud.</p><p><br /></p><p>FWIW I think the BTC ship has sailed, too many spinoffs already.</p><p><br /></p><p><a href="http://web.archive.org/web/20170107025835/http://www.nytimes.com/2016/10/12/business/dealbook/central-banks-consider-bitcoins-technology-if-not-bitcoin.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://web.archive.org/web/20170107025835/http://www.nytimes.com/2016/10/12/business/dealbook/central-banks-consider-bitcoins-technology-if-not-bitcoin.html" rel="nofollow">http://web.archive.org/web/20170107025835/http://www.nytimes.com/2016/10/12/business/dealbook/central-banks-consider-bitcoins-technology-if-not-bitcoin.html</a>[/QUOTE]</p><p><br /></p>

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