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General Discussion => Essentially Flyertalk => Topic started by: Emo EMAW on April 11, 2013, 10:50:18 AM
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Like I have this little fear all of you know about this and no one is talking about it.
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I know about it.
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Bitcoin (sign: BTC) is a decentralized[9] digital currency[10][11] based on an open-source,[12] peer-to-peer Internet protocol. It was introduced in 2009 by a pseudonymous developer, Satoshi Nakamoto
http://en.wikipedia.org/wiki/Bitcoin (http://en.wikipedia.org/wiki/Bitcoin)
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I know about it.
I KNEW IT! :runaway:
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https://www.weusecoins.com/en/
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Oh boy... Deep internet
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How many of "you people" own or have owned in the past a bitcoin?
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I prefer paper money
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It's a fairly incredible idea. Super volatile though. I did see someone selling their house for bitcoins though, which was kinda cool.
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I don't understand how this whole thing works. So if someone buys something with bitcoins can the seller convert bitcoins into actual money? I don't see what the pluses of having bitcoins that are not actual money.
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It's for people who hate "the system" and fiat currency. It's highly endorsed by Anonymous
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I don't understand how this whole thing works. So if someone buys something with bitcoins can the seller convert bitcoins into actual money? I don't see what the pluses of having bitcoins that are not actual money.
it is a separate currency which you can exchange for another currency at the current market rate
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http://www.huffingtonpost.com/2013/04/11/hackers-bitcoin_n_3052648.html?utm_hp_ref=technology (http://www.huffingtonpost.com/2013/04/11/hackers-bitcoin_n_3052648.html?utm_hp_ref=technology)
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I know what it is but I don't really "get it" and will probably never use it.
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only complete idiots aren't using bitcoins to buy their drugs and weapons.
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only complete idiots aren't using bitcoins to buy their drugs and weapons.
How much is the $175 USD I owe you in bitcoins?
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only complete idiots aren't using bitcoins to buy their drugs and weapons.
How much is the $175 USD I owe you in bitcoins?
1.8 BTC
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It's for people who hate "the system" and fiat currency. It's highly endorsed by Anonymous
an electronic currency that's endorsed by an organization that can basically hack into any system and take whatever they want? thanks I'll pass.
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it's not backed or insured by anyone. but, I mean, amazon doesn't sell yayo.
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you should buy as much as possible. Now is a good time for imaginary monies.
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you should buy as much as possible. Now is a good time for imaginary monies.
Yup. 6 months ago I amassed a lot of Pocket Plane dollars. It's really paying off now.
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They were like $40 a month ago.
Right now the price in dollars is probably a bubble, but no one can possibly know for certain.
The real money was in mining bit coins, but there are only a handful of outfits in the world who are fast enough to do it now.
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Also, Saul and Kat Kid think they are like Dutch Tulips. They are retardos.
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DEEP WEB THREAD
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So like normal people don't really mess with this stuff?
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So like normal people don't really mess with this stuff?
only if you want to become super rich for a little while and then have anonymous rob you blind.
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Read some articles about how regular Iranians are using it to buy stuff since we sanctioned their asses.
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El-o-El at people who view bitcoins as an alternative currency, not a speculative investment. A currency should store value, not create it.
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El-o-El at people who view bitcoins as an alternative currency, not a speculative investment. A currency should store value, not create it.
it can't be both?
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So like normal people don't really mess with this stuff?
Normal ppl that want to buy illegal things from the deep web probably use them all the time.
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El-o-El at people who view bitcoins as an alternative currency, not a speculative investment. A currency should store value, not create it.
it can't be both?
When last I checked, the dollar has never declined by 75% in a single day.
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El-o-El at people who view bitcoins as an alternative currency, not a speculative investment. A currency should store value, not create it.
it can't be both?
When last I checked, the dollar has never declined by 75% in a single day.
dollar sounds boring. I have wondered what this does to retailers who accept bitcoin. do you think they immediately exchange it for dollars or do they accept the tremendous risk of holding onto a pile of bitcoin
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How could it work for an ebay-like auction sites when the value wildly fluctuates during the duration of the auction? I know such things exist, I just don't get how it could work.
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There are very few places that accept them right now. Of course, most places don't accept most currencies.
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El-o-El at people who view bitcoins as an alternative currency, not a speculative investment. A currency should store value, not create it.
it can't be both?
When last I checked, the dollar has never declined by 75% in a single day.
dollar sounds boring. I have wondered what this does to retailers who accept bitcoin. do you think they immediately exchange it for dollars or do they accept the tremendous risk of holding onto a pile of bitcoin
They only "made" around 21 million bitcoins, so after a while a retailer could create the U.S. Reserve of Bitcoins.
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Who created them and what is stopping someone from making more?
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Who created them and what is stopping someone from making more?
http://www.foxnews.com/tech/2013/04/11/bitcoin-electronic-cash-beloved-by-hackers/
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Who created them and what is stopping someone from making more?
Anyone can. Time to sell the meat goats and mine bitcoins. The 21 million amount of bitcoins is the maximum limit that will be available in like a century. IIRC 25 bitcoins are generated in each 10-minute block, with the amount generated decreasing periodically over the next several decades.
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You can now pay for your gE premium in Bitcoins.
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(https://goemaw.com/forum/proxy.php?request=http%3A%2F%2Fi.imgur.com%2FEwcDZ.png&hash=64cf02a0be46f811c7d2923f633bf06db66f53d0)
Some people I work with mine similar currency.
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So can I use Bitcoins to buy some chocolate milk and Gummy Life Savers at the corner store? And if so, will my receipt be printed out on Twitter?
Thanks for the help, young people.
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So can I use Bitcoins to buy some chocolate milk and Gummy Life Savers at the corner store? And if so, will my receipt be printed out on Twitter?
Thanks for the help, young people.
Yep, all stores accept bitcoins.
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Cool. Do I need one of those virtual fannypacks to carry them in? Appreciate the infos.
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dollar sounds boring. I have wondered what this does to retailers who accept bitcoin. do you think they immediately exchange it for dollars or do they accept the tremendous risk of holding onto a pile of bitcoin
read something about this yesterday. The answer is yes they have to accept a tremendous risk, and until the bitcoin is less volatile than it isn't a very good currency because no "normal" people like us will have anywhere to use it
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Cryptographic currencies are good if you can get in early when the mining difficulty is low you can make a fair amount of money.
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Cryptographic currencies are good if you can get in early when the mining difficulty is low you can make a fair amount of money.
Explain what you mean by mining. I am a very smart guy so I will easily be able to understand it, meaning if I don't understand your explanation then you don't actually know what you're saying. Thank you.
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Cryptographic currencies are good if you can get in early when the mining difficulty is low you can make a fair amount of money.
Explain what you mean by mining. I am a very smart guy so I will easily be able to understand it, meaning if I don't understand your explanation then you don't actually know what you're saying. Thank you.
It's like folding@home, but instead of curing cancer you are processing bit coin transactions and getting rewarded with thousandths of a cent.
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http://m.gawker.com/5994433/idiot-dick-facebook-twins-now-own-one-percent-of-all-bitcoin
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wtf is folding@home?
Sent from my KFTT using Tapatalk 2
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wtf is folding@home?
Sent from my KFTT using Tapatalk 2
Distributed computing protein folding software that runs in the background using your excess CPU and GPU power
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So they get to use some of your computer for processing their transactions and you get a taste of bitcoin in return. Hmmm.
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So they get to use some of your computer for processing their transactions and you get a taste of bitcoin in return. Hmmm.
Yes. The common analogy is gold miners rewarded with tidbits of gold for expending their resources and health to bring gold into the marketplace.
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$78 :lol:
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I knew I should have learned C++ and not told it to eff off. :frown:
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I knew I should have learned C++ and not told it to eff off. :frown:
I provide tutoring for $200/hr.
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I knew I should have learned C++ and not told it to eff off. :frown:
I provide tutoring for $200/hr.
That's cheap right?! :excited:
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I am just completely scandalized by all of this.
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Zimbabwe guys, :excited: http://ireport.cnn.com/docs/DOC-957375
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http://nationalinterest.org/commentary/the-bitcoin-bubble-bad-hypothesis-8353
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http://www.colbertnation.com/the-colbert-report-videos/425561/april-17-2013/bitcoin-plunge (http://www.colbertnation.com/the-colbert-report-videos/425561/april-17-2013/bitcoin-plunge)
:lol:
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http://www.joeydevilla.com/2013/04/18/which-makes-more-money-mining-bitcoins-or-writing-about-mining-bitcoins-an-interim-report/?utm_source=feedly
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Just got this in my Google News feed:
http://www.foxnews.com/world/2013/05/28/secret-service-busts-open-6-billion-money-laundering-scheme/
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JFC the federal government is afraid of Bitcoins :users:
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(https://goemaw.com/forum/proxy.php?request=http%3A%2F%2Fi.imgur.com%2F7jfZLgw.png&hash=e0f1cb878a3022eb408cc7a7a131dbc2d24204af)
this is the silkroad site where people traded bitcoins for drugs and stuff.
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(https://goemaw.com/forum/proxy.php?request=http%3A%2F%2Fi.imgur.com%2F7jfZLgw.png&hash=e0f1cb878a3022eb408cc7a7a131dbc2d24204af)
this is the silkroad site where people traded bitcoins for drugs and stuff.
Wondered how long it would take you to post about this
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its like weeding your lawn by clipping the flowers off of dandelions
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http://gawker.com/meet-silk-roads-alleged-drug-lord-a-29-year-old-calif-1440275594 (http://gawker.com/meet-silk-roads-alleged-drug-lord-a-29-year-old-calif-1440275594)
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Still don't get it -- how is the FBI able to seize bitcoins?
Someone with high BCIQ lease explain.
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http://gawker.com/meet-silk-roads-alleged-drug-lord-a-29-year-old-calif-1440275594 (http://gawker.com/meet-silk-roads-alleged-drug-lord-a-29-year-old-calif-1440275594)
that was a pretty fascinating, albeit horribly written, article
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Still don't get it -- how is the FBI able to seize bitcoins?
Someone with high BCIQ lease explain.
Bitcoins only exist as a string of numbers (a bit coin key) That's why if you own some you want to keep them on some sort of password protected/encrypted drive... because all it takes to steal your bitcoins is a copy/paste action. Someone pastes in your key to transact the coins to someone else and poof! They're gone.
In this case, the feds were able to seize the servers that actually contained the bitcoins... so they cannot be accessed by their owners anymore... Same reason you run the risk of losing your bitcoins if your computer crashes. Now it might turn out to be that the coins are on an encrypted drive and can't be accessed and they were being synced up with another site that can still redeem them, since you know... that's what i'd do with that much money, but i'm just going on what's been reported.
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http://gizmodo.com/man-forgets-about-buying-27-of-bitcoin-is-now-worth-a-1454150399?utm_campaign=socialflow_gizmodo_facebook&utm_source=gizmodo_facebook&utm_medium=socialflow
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:Wha:
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http://www.forbes.com/sites/andygreenberg/2013/11/18/meet-the-assassination-market-creator-whos-crowdfunding-murder-with-bitcoins/
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http://np.reddit.com/r/Bitcoin/comments/1qw0f8/21000_bitcoin_cash_out/ (http://np.reddit.com/r/Bitcoin/comments/1qw0f8/21000_bitcoin_cash_out/)
TL/DR: Early adopter decides that it's a good time to cash out the over 21,000 bitcoins he's mined and posts about it on the internet.
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http://allthingsd.com/20131212/bitcoins-biggest-bet-andreessen-horowitz-leads-25-million-investment-in-coinbase/
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If you had bought bitcoins when I started this thread you would have a 900% gain today. :sdeek:
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If you had bought bitcoins when I started this thread you would have a 900% gain today. :sdeek:
Well that's terrible timing on my part! Was just discussing bitcoins with some of my tech-savvy buds and I couldn't believe how much they're "worth".
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If you had bought bitcoins when I started this thread you would have a 900% gain today. :sdeek:
7 months ago I wanted to take the gE reserves and buy bitcoins and Saul and KK made fun of me. :sad:
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If you had bought bitcoins when I started this thread you would have a 900% gain today. :sdeek:
7 months ago I wanted to take the gE reserves and buy bitcoins and Saul and KK made fun of me. :sad:
we could've thrown Tom one hell of a 50th :frown: