bit¢oin$

xp Basically agree, except in the casino you know your exact odds and how bad they suck. With a bubble you actually have no idea what the odds are in most cases, you're just firing in the dark.

you can buy some other stuff w them too, tho they are not v widely accepted

the only appealing thing about bitcoins is maybe spending $1000 on a bitcoin miner computer and a couple hundred on electricity a month

seems like in every transaction where u had the choice to use bitcoins or paypal u'd just use paypal

when bitcoin is used in transactions it's done out of novelty not because it's actually useful

well except for buying drugs

yeah I guess nobody really knows how much of that is going on

yeah... or hookers

that was real nice, babe. log on to my computer and take some of my bitcoins. dont click on the folder that says 'vacation pics' though

I would guess 'not that much' because even drug dealers would prefer to deal in stable currencies

can't hit the club and make it rain bitcoins

well i guess dealers would prefer to receive bitcoins (for the security) and then be able to cash out the bitcoins into a stable currency

it's probably teenagers growing pot in their basement who accept bitcoins

I would guess 'not that much' because even drug dealers would prefer to deal in stable currencies

― iatee, Friday, April 12, 2013 11:02 AM

noobs: http://en.wikipedia.org/wiki/Silk_Road_(marketplace)

add the parentheses to the end cuz ilx code is garbage

gold is at a multiyear low now fwiw speaking of bubbles perpetuated by paranoid idiot libertarians

what about wow gold

all gold is wow gold cause you say wow! when you see it, its so soft when you bite into it, smooth going down

http://i.imgur.com/bBTj23e.jpg

one funny thing abt bitcoins is what % of them were minded using illegal botnets a lot i bet

http://i.imgur.com/59ZCAfA.jpg

http://i.imgur.com/PtlV0ZA.jpg

what do you mean by an "illegal botnet"? You mean like using other people's processing power to mine them?

yah zombie computers and what not

http://i.imgur.com/uW7JYr6.jpg

hurting: http://en.wikipedia.org/wiki/Botnet

u know what this virtual currency needs a print magazine totally

One thing I've been wondering is how long it will take for competitor currencies to spring up. It'll be like the old days with bank notes.

if you look at new varieties' prices over the past century or so (where Tulipomania could have no effect), you'll see plenty of extraordinarily high prices for new blubs; claims of bulbs costing a year's salary, when not made up by said moralizing pamphlets, may stem from ignoring this fact of life. It would be like thinking that America's economy collapsed in 2007 due to speculation in automobiles because centuries later, you found some fragmentary records documenting Mercedes-Benz sales ("$60,000 for an automobile?! Why, that's well above the median salary of a common American laborer!")

Currencies had recently been abased by constant warfare and were inflating; getting into commodities is merely a rational move. (Hm... surely this has no parallels with bitcoins or food or gold prices over the last 5+ years?)

Plague struck the Netherlands at the same time as the 'bubble' was happening; plagues will rather increase your discount rate... Why not try to get some beautiful tulips if you may die within the next years?

Speculators may've done it as much for amusement during the winter as anything else. Given the enormous size of the entertainment industry the world over, Tulipomania may have been a bargain.

http://i.imgur.com/ZxTrAXL.jpg

One thing I've been wondering is how long it will take for competitor currencies to spring up. It'll be like the old days with bank notes.

― --808 542137 (Hurting 2), Friday, April 12, 2013 11:18 AM (7 seconds ago) Bookmark

u need some math whizzes to come u pwith these things i think

there are already some apparently

http://i.imgur.com/kePF4Hz.jpg

http://i.imgur.com/QJQA4Cj.jpg

bitcoin more like BLOODCOIN

http://i.imgur.com/wlyH7JN.jpg

http://i.imgur.com/C8bUhEz.png

well the whole thing about bitcoin is it works because of the network effect, if enough competitors spring up then people are gonna lose faith in all of them

http://i.imgur.com/iwrU8zI.png

http://i.imgur.com/DhfgjBj.jpg

http://i.imgur.com/o45Gshr.jpg

can somebody explain to a total moron how bitcoin mining works

http://i.imgur.com/yUBBd8x.jpg

in america its bitcoin but out here its bit bang

http://www.reddit.com/r/Bitcoin/comments/1c7ahh/we_are_mt_gox_ama/

well the whole thing about bitcoin is it works because of the network effect, if enough competitors spring up then people are gonna lose faith in all of them

― iatee, Friday, April 12, 2013 11:20 AM Bookmark Flag Post Permalink

sure, but that doesn't mean it won't happen

I'm actually hoping (against reason) that the bitcoin fiasco will teach a generation of money skeptics about how money actually works

can somebody explain to a total moron how bitcoin mining works

― frogbs, Friday, April 12, 2013 11:22 AM (4 seconds ago) Bookmark Flag Post Permalink

its a lottery basically, every so often a new bitcoin is minted and the more computer cycles you have entered into the lottery the better your chances of winning are

http://i.imgur.com/0Qy870N.jpg

http://i.imgur.com/sQt0gyr.jpg

Idea: novelty machine that presses your bitcoin into a gif of the statute of liberty. Only ten bitcoins.

sure, but that doesn't mean it won't happen

I'm actually hoping (against reason) that the bitcoin fiasco will teach a generation of money skeptics about how money actually works

― --808 542137 (Hurting 2), Friday, April 12, 2013 10:24 AM (1 minute ago) Bookmark Flag Post Permalink

right I agree on both counts. if anything I think it's *likely* to happen.