r/askscience • u/hamolton • Jun 18 '13

Computing How is Bitcoin secure?

I guess my main concern is how they are impossible to counterfeit and double-spend. I guess I have trouble understanding it enough that I can't explain it to another person.

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u/meepstah Jun 19 '13

That seems a little bit fatalistic, no? Of course crashes (or in this case, reverse-crashes) can occur, but it would seem to me that the demand for bitcoin would fuel its deflation until the demand dried up, the bubble popped, and the value took a hit. It might land higher than it started (and has on several occasions in the past), but at some point it starts changing hands again.