bit¢oin$

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.

http://i.imgur.com/MTTU32e.jpg

afaik there are trace amounts of Bitcoin in air & you use fans to blow them into your computer

http://25.media.tumblr.com/tumblr_m7cgsnnTOo1ryrmmno1_500.jpg

http://i.imgur.com/kiyOr2R.jpg

http://i.imgur.com/XfD2Nst.jpg

http://i.imgur.com/fK347Nm.png

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

― lag∞n, Friday, April 12, 2013 10:24 AM (4 minutes ago) Bookmark Flag Post Permalink

and how often do they get minted?

http://i.imgur.com/fX9BADY.png

http://i.imgur.com/Kk4Nvk8.jpg

and how often do they get minted?

― frogbs, Friday, April 12, 2013 11:30 AM (1 minute ago) Bookmark Flag Post Permalink

the frequency is continually slowing down until at some point it will stop, all based on factors and formulas and stuff

http://i.imgur.com/rfp1i4S.png

http://i.imgur.com/kni6MqQ.jpg

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

MAJOR:

-BTC Bitcoin - first, strongest, most accepted, most mined, high volume market, a true currency
-LTC Litecoin - second only to BTC , faster than BTC, Small efficiency gap between GPUs and CPUs , ASIC - proof
-NMC Namecoin merged mined with BTC, used for alternative p2p domain system
-PPC PPcoin Proof Of Stake [very innovative, low energy ] , compatibile with BTC miners

MINOR:

-TRC Terracoin based on BTC, fast difficulty adjustment, initialy flaved but corrected
-DVC Devcoin merged mined with BTC, 90% of generation goes to foundation, 10% to miners
-IXC IxCoin merged mined with BTC, premined 580k coins but still alive
-NVC NovaCoin - scrypt hashing[like LTC] , proof of stake [like PPC] , controversial start
-FRC Freicoin - back alive. 4.89% anual demurrage. for the first 3 years 80% block subsidy goes to foundation, 20% to miners

CANDIDATES:

-BTE Bytecoin- the 1:1 bitcoin copycat, nothing changed. extremally high starting hype/hashrate.
-BBQ BBQCoin - forgotten after 51% attack on launch, now revived and active.

DEAD / DYING :

-LQC Liquidcoin made to be very fast at constant difficulty, dead [pool closed, exchange closed]
-SC Solidcoin - dying (10-20% fee), designed to improove IxCoin, hard to be neutral on this one, 1.0 was a premine scam, 2.0 says BTC is pyramid scheme.
-GG Geist Geld experiment on BTC algorithm, how fast can it go? just for sience.
-TBX Tenebrix great idea of cpu-friendly mining with scrypt, but premined with 7.7milion coins - alive but little support due to premining
-FBX Fairbrix - Tenebrix without the premine, bad launch, alive but little support.
-I0C I0coin - ixcoin without the premine. Dead
-CLC Coiledcoin - some nice ideas, but killed in 51% attack
-RUC Rucoin - copy of bitcoin, only difference is that it was developed in russian not english.than reborn much different, not confirmed if it is the same blockchain, both scrypt[like LTC] and sha256d , nice client !warning! not opensource ! dying again
-TimeKoin - PHP webbased coin, alive but not used or traded.
-Beertokens -abitious [impossible?] try to stabilize price against commodity.
-MMM MMMcoin - Dead coin by notorious scamer SPMavrodi, named "yes we can" "my mozem mnogoye"

http://i.imgur.com/9n6xL9w.png

http://i.imgur.com/H7eGjj6.png

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

http://i.imgur.com/G9JSCRI.jpg

the frequency is continually slowing down until at some point it will stop, all based on factors and formulas and stuff

Somebody has been reading business insider

you have iirc

ha, that graph is great, xp

theres no such thing as smart money

yes there is, it's called bitcoins iirc

tru

bitcoins

Now I've had the time of my life
And I owe it all to you you you you you you you you
Dirty bit(coin)

http://i.imgur.com/XJv3KQo.jpg

http://i.imgur.com/il3yano.png