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<p>[QUOTE=&quot;InfleXion, post: 1677102, member: 29012&quot;]This is not entirely correct. BitCoin is a protocol with a built in deflation algorithm. It cannot be manipulated by central bankers. It can be manipulated by large wallets since it is the only free market around.&nbsp; </p><p><br /></p><p>It is true that BitCoin is not anonymous although it is often referred to as such. Nothing on the Internet is truly anonymous. If you were using TOR plus BitCoin you&#039;d be close, but still traceable.&nbsp; </p><p><br /></p><p>Your digital wallet can be hacked if you leave it unsecured. Online BitCoin exchanges can be hacked if you store your BitCoins with them, but BitCoin cannot be hacked. That would be like saying you hacked WWW as opposed to <a href="http://www.whatever.com" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.whatever.com" rel="nofollow">www.whatever.com</a>. It&#039;s all about security around your data, not BitCoin itself.&nbsp; </p><p><br /></p><p>Part of the reason BitCoin is so popular, aside from it being easy to influence by speculators, is because it can&#039;t be coerced by central bankers or monetary policy. Anybody in Cyprus right now using BitCoins could have avoided having their funds frozen. In addition to providing instantaneous real time global exchanges, BitCoin is a superior currency to the USD for many other reasons. It goes out to many decimal places so you don&#039;t lose value to rounding. It can be easily transported over borders with a thumb drive or left in a hidden password protected / encrypted file online or in your e-mail box somewhere, much more convenient than trying to get passed customs with a pile of gold if you are getting out of dodge.&nbsp; </p><p><br /></p><p>I do not advocate BitCoin and I do not have any money into it. It relies on electricity and Internet infrastructure to function. It is too risky and I prefer to stick to metals. The price could go back to zero if an alternative comes around, or it could go to the moon if faith in paper is lost. It&#039;s not a safe store of wealth, but it is by far the best currency ever to exist thus far.[/QUOTE]</p><p><br /></p>

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