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WTF

Latham Green, Tuesday, 24 May 2011 18:36 (seven years ago) Permalink

the next internet revolution??

http://www.weusecoins.com/

Latham Green, Wednesday, 25 May 2011 13:12 (seven years ago) Permalink

I've heard a little about this, but don't know enough about the field to know if it's going to replace all known forms of currency or just crash and burn immediately. Anyone?

emil.y, Wednesday, 25 May 2011 13:31 (seven years ago) Permalink

it seems like it could either be really big or end up some obscure little hobby. But still they do have potential for allot of illeagal use so I wonder if they will just be made illegal

Latham Green, Wednesday, 25 May 2011 13:34 (seven years ago) Permalink

Seems like it could be a big target for hackers? The distributed nature of the system (there's no central server repository for bitcoins) could help or hinder when it comes to security.

got a whole lotta gloves (snoball), Wednesday, 25 May 2011 13:39 (seven years ago) Permalink

I like this for the potential to melt the brains of libertarians. On the one hand, no centralising authority, on the other it is the ultimate "fiat currency"

American Fear of Pranksterism (Ed), Wednesday, 25 May 2011 13:55 (seven years ago) Permalink

I guess if you consider the laws of math to be the fiat-inator

Latham Green, Wednesday, 25 May 2011 13:56 (seven years ago) Permalink

I bet there is a thousand post developer forum thread somewhere on whether it should be backed by gold or not.

American Fear of Pranksterism (Ed), Wednesday, 25 May 2011 13:57 (seven years ago) Permalink

Maybe not seeing it was started by Finns, but I'd like to think so.

American Fear of Pranksterism (Ed), Wednesday, 25 May 2011 13:58 (seven years ago) Permalink

I think it is backed by World of Warcraft gold

Latham Green, Wednesday, 25 May 2011 13:58 (seven years ago) Permalink

this is interesting

cop a cute abdomen (gbx), Wednesday, 25 May 2011 14:07 (seven years ago) Permalink

I heard about this through the ~future of the internet~ thread. It is indeed interesting, but I still feel too unskooled in this matter to form an opinion about it.

I always think with things like this. If it can be invented, it can be hacked/messed about with. What makes this system so bulletproof?

...wow! (Le Bateau Ivre), Wednesday, 25 May 2011 14:09 (seven years ago) Permalink

Each Bitcoin has a unique serial number that's encrypted. If someone can break that encryption, they'd be able to generate counterfeit Bitcoins and the whole system would go down. So although there's no single server to hack, there's still a single point of vulnerability.

got a whole lotta gloves (snoball), Wednesday, 25 May 2011 14:15 (seven years ago) Permalink

I think the bulletproofness is the encryption - for example the Enigma machine would have worked and not been broken if the people who used it hadn't had sloppy practices. In thi scase there cannot be sloppy practices because the practitioners are computers

Latham Green, Wednesday, 25 May 2011 14:25 (seven years ago) Permalink

Does anyone else imagine bitcoins looking like this?

http://cache.gawkerassets.com/assets/images/9/2010/12/mario_coins.jpg

I know they don't really have a physical form.

free inappropriate education (Abbbottt), Wednesday, 25 May 2011 14:50 (seven years ago) Permalink

There's a not-bad overview of some potential problems here http://www.quora.com/Is-the-cryptocurrency-Bitcoin-a-good-idea

stet, Wednesday, 25 May 2011 14:53 (seven years ago) Permalink

http://www.sonicgear.org/ArcadeMachines/ArcadeCoin.jpg

am0n, Wednesday, 25 May 2011 14:56 (seven years ago) Permalink

yeah it seems like there are indeed million post forums on whether its a good idea or not but in the end time will tell. I have started mining some myself because its fun

Latham Green, Wednesday, 25 May 2011 14:59 (seven years ago) Permalink

Are you using a decent set of graphics cards? Mining on yr PC is going to cost way more in power than you'll make.

stet, Wednesday, 25 May 2011 15:01 (seven years ago) Permalink

oh I've got that all figured out! real genius...

Latham Green, Wednesday, 25 May 2011 15:03 (seven years ago) Permalink

anyone here buy any acid w/ bitcoins yet

http://www.wired.com/threatlevel/2011/06/silkroad/

puff puff post (uh oh I'm having a fantasy), Thursday, 2 June 2011 16:38 (seven years ago) Permalink

who is going to be the first major musician who charges bitcoins for a legal download

puff puff post (uh oh I'm having a fantasy), Thursday, 2 June 2011 16:43 (seven years ago) Permalink

rush?

iatee, Thursday, 2 June 2011 16:43 (seven years ago) Permalink

I believe in bitcoins

puff puff post (uh oh I'm having a fantasy), Thursday, 2 June 2011 16:46 (seven years ago) Permalink

At the moment bitcoin value/rarity is supressed by spare computing cycles, which I'd rather see searching for ETs, folding proteins, or predicting climate change impacts (all distributed screensaver applications).

If we're going to have a currency backed by electricity, I'd suggest international trade settlement backed by aluminum. Its a useful material, ubitquitous in industry, and as bauxite is abundant and the major production cost is electricity for electrolytic smelting, its as close to frozen electricity as exists.

In either case, no nation/currency union would need acquire enough to back the entire economy, only enough to settle external trade imbalances and deter covert taxation through inflation.

美国有很多丰富的傻瓜 (Sanpaku), Thursday, 2 June 2011 17:24 (seven years ago) Permalink

I have almost generated a bit dime so far - its taking forever

Latham Green, Wednesday, 8 June 2011 13:17 (seven years ago) Permalink

At the moment bitcoin value/rarity is supressed by spare computing cycles, which I'd rather see searching for ETs, folding proteins, or predicting climate change impacts (all distributed screensaver applications).

all those screensaver things are outreach tools rather than scientifically useful fwiw.

caek, Wednesday, 8 June 2011 13:17 (seven years ago) Permalink

wow the value has gone way up lately - it was just 7$ a few weeks ago now like 28$!
at mtgox.com

bubble?

Latham Green, Wednesday, 8 June 2011 13:20 (seven years ago) Permalink

(in response to Abbott's earlier post)

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:28 (seven years ago) Permalink

(The answer being, yes they do look like that something from a Soviet era Russian Mario knock-off)

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:29 (seven years ago) Permalink

little broken link icons?

Latham Green, Wednesday, 8 June 2011 13:29 (seven years ago) Permalink

thinking this is going to be a HUGE deal for online gambling, since it's essentially non-taxable right?

frogbs, Wednesday, 8 June 2011 13:31 (seven years ago) Permalink

little broken link icons?

That would be a Zelda knock-off...

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:34 (seven years ago) Permalink

I think the consensus seems to be that they will be made illegal at some point- so git 'em now!

Latham Green, Wednesday, 8 June 2011 13:35 (seven years ago) Permalink

1 - costs more electricity to generate than they're worth, which will only get worse because they're progressively halving Bitcoin production over time to top out at a maximum number of Bitcoins in 4 years.

2 - someone will crack this before then anyway (either by cracking the encryption method itself, or more likely by finding a weakness somewhere else in the system).

3 - banks will find a way to levy charges on turning Bitcoins back into real money.

4 - governments will find a way to tax this if it ever looks like being big.

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:40 (seven years ago) Permalink

"Tell me boy, is that the Chattanooga choo-choo an overheating GPU?"
"Yes I've got twenty nine."
"Well give me a Bitcoin dime."

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:45 (seven years ago) Permalink

Sometimes, when I see the price of a bitcoin today, I regret being broke as hell a month ago when I learned about them. But yeah, I probably agree with snoball in that this thing is bound to fail at some point. Also, I'm still having a hard time with this currency that can't buy anything (except drugs).
Also, is it just me or is it impossible to explain bitcoins to people without sounding kind of silly?

Jibe, Wednesday, 8 June 2011 13:48 (seven years ago) Permalink

Seems that the only way to have made any money out of this was to be involved pretty much at the start.

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:51 (seven years ago) Permalink

without sounding kind of silly?

There's a real 'Jack & The Beanstalk' 'magic beans' feel to the whole thing, even more so than 'real' money ('I promise to pay the bearer on demand the sum of £5').

got a whole lotta gloves (snoball), Wednesday, 8 June 2011 13:56 (seven years ago) Permalink

You could have made money by buying some when this thread was started, they were around 7-8$ iirc.

Jibe, Wednesday, 8 June 2011 13:58 (seven years ago) Permalink

I think the question is 'how many people who would be immediately interested in buying some of these upon learning that they exist have already learned that they exist?'

iatee, Wednesday, 8 June 2011 14:04 (seven years ago) Permalink

like yeah on the one hand obv it's a bubble but crazy libertarian types don't have that many facebook friends, so I dunno, I'd buy some and keep em for a week

iatee, Wednesday, 8 June 2011 14:06 (seven years ago) Permalink

(if it were simple and I had money)

iatee, Wednesday, 8 June 2011 14:07 (seven years ago) Permalink

Aaand it's crossed the 30$ barrier on MtGox. Dammit, why didn't I even have 20 bucks to invest in this shit ^^

Jibe, Wednesday, 8 June 2011 14:13 (seven years ago) Permalink

can you short bitcoins

☂ (max), Wednesday, 8 June 2011 14:14 (seven years ago) Permalink

lol

caek, Wednesday, 8 June 2011 14:14 (seven years ago) Permalink

http://forum.bitcoin.org/index.php?board=1.0

this is gonna be the place to be during the crash

iatee, Wednesday, 8 June 2011 14:17 (seven years ago) Permalink

since this thread was started I have got .07 btc - I can already see though that its getting harder to generate the coins

Latham Green, Wednesday, 8 June 2011 14:37 (seven years ago) Permalink

bi-itcoin making gender equal crytpoc since 2018

F# A# (∞), Tuesday, 20 February 2018 17:54 (seven months ago) Permalink

Venezuela reaching out to the alt-right and libertarians... a very 'nixon in china' moment

But doctor, I am Camille Paglia (Bananaman Begins), Thursday, 22 February 2018 08:10 (seven months ago) Permalink

https://www.economist.com/news/finance-and-economics/21737255-switzerland-embraces-digital-currencies-and-crypto-entrepreneurs-banking-centre

Switzerland’s famous banking secrecy is falling to a global assault on money-laundering and tax evasion. But financial security remains in demand. The country should seek to become the “crypto-nation”, said the economy minister, Johann Schneider-Ammann, last month. Zug aims to be the capital of that nation.

☺️

bald butte (∞), Thursday, 22 February 2018 22:57 (seven months ago) Permalink

Nation 2.0
Nation-as-a-Service
Crypto-Nation

mick signals, Thursday, 22 February 2018 23:08 (seven months ago) Permalink

zug nation

bald butte (∞), Thursday, 22 February 2018 23:09 (seven months ago) Permalink

Zuog aims to be the capital of that nation

But doctor, I am Camille Paglia (Bananaman Begins), Friday, 23 February 2018 07:19 (seven months ago) Permalink

wow

Roberto Spiralli, Thursday, 8 March 2018 16:42 (six months ago) Permalink

I'm opening for Ghostface Killah at a cryptocurrency conference today at SXSW, so come through if you want to learn about ICOs changing influencer marketing or see a Wu-Tang legend rap https://t.co/7clH0w8gge

— Josh Constine (@JoshConstine) March 14, 2018

Jersey Al (Albert R. Broccoli), Wednesday, 14 March 2018 22:31 (six months ago) Permalink

Surely GZA or especially killah priest would be more apt??!

when worlds collide I'll see you again (Jon not Jon), Wednesday, 14 March 2018 22:37 (six months ago) Permalink

The son of Ol' Dirty Bastard, the late hip-hop artist and Wu-Tang Clan member who passed away in 2004, is launching a cryptocurrency.

Young Dirty, real name Bar-Son James, is the face of the appropriately named Dirty Coin.

mick signals, Thursday, 15 March 2018 02:03 (six months ago) Permalink

What role does Ghostface Killah play in Cream Capital?

Ghostface Killah serves as a vessel to increase brand awareness surrounding Cream Capital and cryptocurrencies. He plays a very active role in the day-to-day business operations and direction of the company. He understands the fundamentals of blockchain technology and the importance and gravity of the technology. He is not a random celebrity that is lending his name to a project. Wu-Tang is for the children and the children will use the blockchain.

mick signals, Thursday, 15 March 2018 02:06 (six months ago) Permalink

one month passes...

I liked the “Prison breaks in Iceland usually mean someone just fled to get drunk,” quote.

brain (krakow), Thursday, 19 April 2018 08:15 (five months ago) Permalink

I love Iceland

Rabbit Control (Latham Green), Thursday, 19 April 2018 17:01 (five months ago) Permalink

brilliant story.
made my day yesterday when i heard about it.

mark e, Thursday, 19 April 2018 17:36 (five months ago) Permalink

did anybody else think for just a moment, like i did, that the king of Swaziland had renamed his country after a cryptocurrency?

https://www.theguardian.com/world/2018/apr/19/swaziland-king-renames-country-kingdom-of-eswatini

illegal economic migration (Tracer Hand), Thursday, 19 April 2018 17:41 (five months ago) Permalink

are there any movies about "big bitcoin heists" yet? Can't wait for the Hackers-style attempts to make typing into action.

Fedora Dostoyevsky (man alive), Thursday, 19 April 2018 18:16 (five months ago) Permalink

the entire movie is composed of screenshots

Rabbit Control (Latham Green), Thursday, 19 April 2018 19:34 (five months ago) Permalink

two weeks pass...

feel like I finally understand how a blockchain works after reading this: https://i.kinja-img.com/gawker-media/image/upload/c_scale,f_auto,fl_progressive,q_80,w_800/fgfvoprgbu251kjgrxys.jpg

silverfish, Tuesday, 8 May 2018 16:37 (four months ago) Permalink

cartoon iguana otm

davey, Tuesday, 8 May 2018 21:33 (four months ago) Permalink

three months pass...

https://i.imgur.com/eckIkVC.jpg

ghost beef (bizarro gazzara), Friday, 17 August 2018 19:04 (one month ago) Permalink

two weeks pass...

Over the past two years, and especially during 2017, when the price of a single bitcoin jumped from $1,000 to more than $19,000, the region has taken on the vibe of a boomtown. Across the three rural counties of the Mid-Columbia Basin—Chelan, Douglas and Grant—orchards and farm fields now share the rolling landscape with mines of every size, from industrial-scale facilities to repurposed warehouses to cargo containers and even backyard sheds. Outsiders are so eager to turn the basin’s power into cryptocurrency that this winter, several would-be miners from Asia flew their private jet into the local airport, took a rental car to one of the local dams, and, according to a utility official, politely informed staff at the dam visitors center, “We want to see the dam master because we want to buy some electricity.”


all of these people should be shot

Paleo Weltschmerz (El Tomboto), Saturday, 1 September 2018 12:53 (three weeks ago) Permalink

HFS am I ready for a crash

Elvis Telecom, Monday, 3 September 2018 06:33 (two weeks ago) Permalink

`maybe blockchain ....there are people trying to make that work https://t.co/vbWV31AGPd

— David Crosby (@thedavidcrosby) September 4, 2018

sciatica, Tuesday, 4 September 2018 18:06 (two weeks ago) Permalink

HFS am I ready for a crash

Alas, you can expect the price to shoot up again when the inevitable next financial crisis hits.

wayne trotsky (Simon H.), Tuesday, 4 September 2018 18:09 (two weeks ago) Permalink

https://www.bitcoinplus.com/message

Rabbit Control (Latham Green), Thursday, 6 September 2018 15:57 (two weeks ago) Permalink

With the many problems banks and central banks have caused over the y eas I think bitcoin is looking better all the time. At least bitcoin is not just created magically with nothing to back it.

The price of bitcoin went way up last year and crashed but since its creation in 2011 its steadily risen. I don't see why it would fall in the future. Of course no one can predict the future, but it seems like , as you say Trotsky, its a hedge against human bungling and greed in the global financial scamworld of banks

Rabbit Control (Latham Green), Wednesday, 12 September 2018 17:24 (one week ago) Permalink

bitcoin is not just created magically with nothing to back it

yes it is

Fedora Dostoyevsky (man alive), Wednesday, 12 September 2018 17:50 (one week ago) Permalink

what about the hash!

Rabbit Control (Latham Green), Wednesday, 12 September 2018 18:11 (one week ago) Permalink

can I eat hash

Fedora Dostoyevsky (man alive), Wednesday, 12 September 2018 18:12 (one week ago) Permalink

The price of bitcoin went way up last year and crashed but since its creation in 2011 its steadily risen. I don't see why it would fall in the future.

hard to know you've reached the bottom of a crash. depending on when you thought the 2000 telecom crash hit bottom, you could be red for a long time, even with a steady rise.

for i, sock in enumerate (Sufjan Grafton), Wednesday, 12 September 2018 18:30 (one week ago) Permalink

you can eat it , smoke it, and verify worth with it

the central banks are regulated by stodgy politically motivated reptilians - I'd rather rely on a mathematical function

plus newegg.com takes bitcoins

Rabbit Control (Latham Green), Wednesday, 12 September 2018 18:31 (one week ago) Permalink

hard to know you've reached the bottom of a crash. depending on when you thought the 2000 telecom crash hit bottom, you could be red for a long time, even with a steady rise.

so hedge with ethereum investment?

Rabbit Control (Latham Green), Wednesday, 12 September 2018 18:32 (one week ago) Permalink

hedge with a storage space full of funko pops

for i, sock in enumerate (Sufjan Grafton), Wednesday, 12 September 2018 18:35 (one week ago) Permalink

hedging a blockchain investment with another blockchain investment? LOL

Fedora Dostoyevsky (man alive), Wednesday, 12 September 2018 18:36 (one week ago) Permalink

but be careful -- diversify your funko pop category portfolio. it's a jungle out there.

for i, sock in enumerate (Sufjan Grafton), Wednesday, 12 September 2018 18:38 (one week ago) Permalink

xp tbf he could hedge btc with btc...futures. now we're making money.

for i, sock in enumerate (Sufjan Grafton), Wednesday, 12 September 2018 18:41 (one week ago) Permalink

it seems like if you had something like blockchain wallet and coudl exchange bitcoin and ethereum with minimal fees you could play them off each other like north lorea plays the US off china

Rabbit Control (Latham Green), Wednesday, 12 September 2018 18:41 (one week ago) Permalink

so how do you buy derivatives or something where you make money when bitcoin falls in value - God the world of finance is so freaking convoluted

Rabbit Control (Latham Green), Wednesday, 12 September 2018 18:45 (one week ago) Permalink

there's a site that lets you do just that but you can't use it in America

frogbs, Wednesday, 12 September 2018 19:39 (one week ago) Permalink

forget it ! Its bitcointown!

Rabbit Control (Latham Green), Wednesday, 12 September 2018 19:48 (one week ago) Permalink

here you go my friend https://www.bitmex.com/

Bitcoin is virtually useless as a currency but as a commodity you can gamble on it's pretty good

frogbs, Wednesday, 12 September 2018 19:57 (one week ago) Permalink

The CFO said Goldman is working on a type of derivative for bitcoin because "clients want it."

https://www.cnbc.com/2018/09/06/goldman-sachs-cfo-calls-reports-of-shutting-down-crypto-desk-fake-news.html

Rabbit Control (Latham Green), Wednesday, 12 September 2018 19:59 (one week ago) Permalink

"A trader wants to goes long 10 XBT of TRON futures contracts, which trades at 0.0200 XBT. As the leverage is 20x, the trader only needs 0.5 XBT of margin for this trade."

now we are getting in too deep

Rabbit Control (Latham Green), Wednesday, 12 September 2018 20:09 (one week ago) Permalink

you can do 100x leverage. shoot for the moon. even if you fail, you'll still land among the stars

frogbs, Wednesday, 12 September 2018 20:10 (one week ago) Permalink

McAfee

The first Bitcoin forecast that I want to discuss with you is by John McAfee, the creator of the popular anti-virus software McAfee. McAfee is well-known in the cryptocurrency industry because he makes lots of insane price predictions on Twitter, however, it has since been revealed that crypto projects pay him more than $100,000 to do so.
Anyway, in 2017, MacAfee said that Bitcoin would reach $500,000 in 2020, and if it didn’t, he would eat his private parts live on TV! If you didn’t think this was crazy enough, McAfee then increased his Bitcoin price prediction 2020 to $1 million! To be honest, he seems rather confident to me.

https://www.bitdegree.org/tutorials/bitcoin-price-prediction-2020/#Bitcoin_Price_Prediction_2020

| (Latham Green), Monday, 17 September 2018 19:54 (six days ago) Permalink


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