Do the problems bitcoin solves have economic relevance?

Dr. Paul Krugman tells us here that bitcoin is "a technically sweet solution to a problem that doesn't have much economic relevance". Lets look in more detail at the problem that bitcoin solves so we can decide exactly how little economic relevance it really has. First of all I should warn you that I have...

Bitcoin vs. Divide and Conquer

First, what is "divide and conquer". Divide and conquer refers to a computing paradigm, which at once describes the way that many algorithms have been optimized and also the way that software has traditionally been structured.  One wishes to break problems into small parts, because problems are more cleanly solved in this fashion.  The small...