Author Topic: Bitcoin and Cryptocurrency  (Read 199144 times)

Offline Alan_X

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Re: Bitcoin
« Reply #160 on: January 11, 2014, 07:15:07 am »
Whatever.

I actually offered to donate in Bitcoin (over a year ago) and I was told to go away with my funny bits.

And you never thought to convert it and actually donate in sterling? That says an awful lot about you.
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Offline Alan_X

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Re: Bitcoin
« Reply #161 on: January 11, 2014, 07:15:57 am »
I can sign a message with one of my addresses to prove ownership of my Bitcoins (well above 1000). But that would be in private messages. I'm not posting here anymore.

Cheerio.

You'll be missed.

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Offline Hinesy

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Re: Bitcoin
« Reply #162 on: January 11, 2014, 12:30:37 pm »
As I was saying to Elvis the other day, via PM of course, this bitcoin thing was developed by Lord Lucan,
but of course being on pm I can't say anymore...
Yep.

Offline The 5th Benitle

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Re: Bitcoin
« Reply #163 on: January 11, 2014, 02:15:52 pm »
As I was saying to Elvis the other day, via PM of course, this bitcoin thing was developed by Lord Lucan,
but of course being on pm I can't say anymore...
Oh, yuu.

Offline Hinesy

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Re: Bitcoin
« Reply #164 on: January 11, 2014, 03:54:16 pm »
;D
Yep.

Offline danwms

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Re: Bitcoin
« Reply #165 on: January 22, 2014, 12:50:11 pm »
For people with Android phones I have just released a new app to Google Play and if you are interested in Bitcoin it maybe one for you.

Bitcoin Tacker allows you to track the latest price and calculate how much your bitcoin is worth.

https://play.google.com/store/apps/details?id=uk.co.danwms.bitcointracker

Already working on the next release which will include a widget, alerts and charts.

Would love to hear your feedback if you have any.

Offline Barney_Rubble

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Re: Bitcoin
« Reply #166 on: February 10, 2014, 04:17:10 pm »
87:13

Offline zabadoh

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Re: Bitcoin
« Reply #167 on: February 15, 2014, 06:22:57 am »
More bad news for Bitcoin:  The 3 big exchanges, BitStamp, Mt. Gox and BTC-e, all halted withdrawals today in response to errors in implementing the exchange protocol.  BitStamp and BTC-e said they expected to be running again the next day.

About $2.7 million or 4,474 Bitcoins were allegedly stolen from Silk Road 2.0, a criminal transaction website, by exploiting the flaw.

http://venturebeat.com/2014/02/14/flaw-in-bitcoin-exchange-shutdowns-2-7-million-theft-is-the-end-coming/
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Offline Alan_X

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Re: Bitcoin
« Reply #168 on: February 15, 2014, 08:19:47 am »
http://www.businessinsider.com/mtgox-statement-on-withdrawals-2014-2

l0l

This bit of the statement:

Quote
We believe this can be addressed by using a different hash for transaction trackingpurposes. While the network will continue to use the current hash for the purpose of inclusion in each block's Merkle Tree, the new hash's purpose will be to track a given transaction and can be computed and indexed by hashing the exact signed string via SHA256 (in the same way transactions are currently hashed).

Read more: http://www.businessinsider.com/mtgox-statement-on-withdrawals-2014-2#ixzz2tN7Kbu00

...is interesting, as it highlights the essential geekiness of bitcoin and the article as a whole shows that despite all the bullshit, bitcoin is no different to any other currency and relies on trust. 

Of course there are all sorts of algorithms and technology involved behind the scenes in normal banking and possibly there may even be 'merkle trees' involved somewhere, but when RBS and Natwest had problems with cash withdrawals from cash points no one gave a fuck about the technical explanation they just expected it to work.
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Offline Barney_Rubble

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Re: Bitcoin
« Reply #169 on: February 15, 2014, 08:13:18 pm »
It's different things to different people.

For some it's an anonymous way to buy illegal stuff online. Is it fuck anonymous.

For others it's an alternative method of online payment which will rock the world's financial institutions to their very foundations etc.

And yet others see it simply as a get-rich-quick scheme.

I think it's interesting and it or something similar will probably come into widespread use somewhere down the line, but right now it's so open to abuse and manipulation and seems to be getting hacked and attacked on a daily basis that I'll avoid it like the plague.

« Last Edit: February 15, 2014, 08:15:14 pm by Barney_Rubble »
87:13

Offline Tomo!

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Re: Bitcoin
« Reply #170 on: February 15, 2014, 10:01:10 pm »

Silk Road 2 has been hacked (or ripped off by the guy running it) to the tune of £1.6 millions worth of bitcoins.


http://www.bbc.co.uk/news/technology-26187725
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Re: Bitcoin
« Reply #171 on: February 16, 2014, 12:23:00 pm »
It's different things to different people.

For some it's an anonymous way to buy illegal stuff online. Is it fuck anonymous.

For others it's an alternative method of online payment which will rock the world's financial institutions to their very foundations etc.

And yet others see it simply as a get-rich-quick scheme.

I think it's interesting and it or something similar will probably come into widespread use somewhere down the line, but right now it's so open to abuse and manipulation and seems to be getting hacked and attacked on a daily basis that I'll avoid it like the plague.



Is it a lot more anonymous than any other method of payment, and if you know what you're doing you can make yourself almost impossible to track.

I agree with your other points, I think people such as muyuu give Bitcoins a bad reputation. If you head on other to Bitcointalk forums and read through the 'economic' forum it is a lot of the same, people thinking they're share brokers and that they have insight into the market. I'm not denying there are some people who actually know their shit but the fact is it is not being treated as currency at all.

I think as a technology it is fascinating, I'm currently starting a Bitcoin business as part of my dissertation/final year project. Nothing major just easy purchasing of Bitcoins without the hassle of using exchange websites etc. But I must say there is a huge amount to it, and the security side of things is a big concern for me, as you say it is open for abuse - and many Bitcoin websites will be subject to hack attempts, it's inevitable.

I'll be keeping as much Bitcoin on paper as I can, which seems backwards for a digital currency. But right now it's the smart way to keep your coins safe.

Not entirely sure what the future will hold for it, I'd like for it to burst and take a few years to become more established and safe - much like the dotcom bubble. At the moment no one can honestly say they know shit about anything, it is a complete unknown.

:D

Offline masch

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Re: Bitcoin
« Reply #172 on: February 18, 2014, 11:57:32 am »
^^ What security properties of Bitcoin are you worried about?  Seems to me that the main threat is trusting other people with your coins---it's amateur hour out there in terms of online storage, exchanges etc.  You also need to be careful with wallet software; the type of public key crypto (ECC) used by the Bitcoin protocol is very susceptible to biased random number generation.  Afaik there's been attacks where people have managed to steal btc by attacking a wallets rng.  Somewhere out there will be a trusted list of good software.

This malleability thing is also fairly interesting, even disregarding Mt. Gox.

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Offline Bird Bird Bird The Bird Is The Word

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Re: Bitcoin
« Reply #174 on: February 19, 2014, 10:10:08 pm »




Stay away from bitcoin, negative momentum ahoy.

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Re: Bitcoin
« Reply #175 on: February 21, 2014, 12:54:22 am »
Football without fans is nothing.

We've won 18 titles, 5 European Cups, 7 FA Cups, but today must be the greatest victory of all.

Offline zabadoh

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Re: Bitcoin
« Reply #176 on: February 25, 2014, 07:43:45 am »
Mt. Gox has shut down, probably permanently.  Allegedly 744,000 Bitcoins are missing and have been missing for years.  This is about 6 percent of the 12 million Bitcoins in existence.

http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?_r=0
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Offline The 5th Benitle

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Re: Bitcoin
« Reply #177 on: March 10, 2014, 08:53:09 pm »
Alex Salmond claims Scotland will adopt bitcoin


Scotland’s First Minister Alex Salmond has insisted an independent Scotland would adopt bitcoin as its currency if the UK government continues to refuse access to sterling



Salmond told reporters he wasn’t sure he even wanted to use sterling any more, insisting that he’d heard good things about bitcoin and its ability to make financial transactions easier.
He told those gathered, “Scotland will be the first nation in the world to adopt bitcoin as its main currency, a move that will almost certainly see investors flock to our shores.”
“So to those sceptics who said I had no Plan B when it comes to Scotland’s currency, I say ‘Ha!’”
“I have weighed up my options and decided that no-one can tell me I can’t have bitcoin, so it’s definitely the best currency there is.”
“Sterling is definitely overrated anyway, and I didn’t really want it in the first place and anyone who says I did is lying.”
“Oh yes they are.”


Scotland’s currency options

Scottish residents have welcomed the announcement, claiming that the adoption of bitcoin as their legal tender will make everything seem cheaper.

Glaswegian Simon Williams told us, “I think paying 0.008 bitcoins for a pint of strong lager will definitely make it seem much cheaper, right?”
“I mean, 0.008 is much less than three-fifty. I’ve only got a grade C at GCSE Maths, but even I can see that.”
“Plus, if Alex Salmond says it’s right for Scotland, then it must be right for Scotland.”
“Look, as long as they take bitcoin at the off licence then I’m happy with it."



http://newsthump.com/2014/03/10/alex-salmond-claims-scotland-will-adopt-bitcoin/

Offline Joff

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Re: Bitcoin
« Reply #178 on: March 11, 2014, 08:26:29 am »
Just purchased a £1600 bitcoin mining rig with a mate. Leccy is going to be £1350 a year. Gonna strap in and enjoy the ride. If the worst comes to the worst I'll sell the hardware in a year to minimise the loss.
Nah.

Offline Hinesy

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Re: Bitcoin
« Reply #179 on: March 11, 2014, 09:06:31 am »
Alex Salmond claims Scotland will adopt bitcoin


Scotland’s First Minister Alex Salmond has insisted an independent Scotland would adopt bitcoin as its currency if the UK government continues to refuse access to sterling



Salmond told reporters he wasn’t sure he even wanted to use sterling any more, insisting that he’d heard good things about bitcoin and its ability to make financial transactions easier.
He told those gathered, “Scotland will be the first nation in the world to adopt bitcoin as its main currency, a move that will almost certainly see investors flock to our shores.”
“So to those sceptics who said I had no Plan B when it comes to Scotland’s currency, I say ‘Ha!’”
“I have weighed up my options and decided that no-one can tell me I can’t have bitcoin, so it’s definitely the best currency there is.”
“Sterling is definitely overrated anyway, and I didn’t really want it in the first place and anyone who says I did is lying.”
“Oh yes they are.”


Scotland’s currency options

Scottish residents have welcomed the announcement, claiming that the adoption of bitcoin as their legal tender will make everything seem cheaper.

Glaswegian Simon Williams told us, “I think paying 0.008 bitcoins for a pint of strong lager will definitely make it seem much cheaper, right?”
“I mean, 0.008 is much less than three-fifty. I’ve only got a grade C at GCSE Maths, but even I can see that.”
“Plus, if Alex Salmond says it’s right for Scotland, then it must be right for Scotland.”
“Look, as long as they take bitcoin at the off licence then I’m happy with it."



http://newsthump.com/2014/03/10/alex-salmond-claims-scotland-will-adopt-bitcoin/


;D
Yep.

Online Kashinoda

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Re: Bitcoin
« Reply #180 on: March 18, 2014, 01:11:20 pm »
Just had an amusing realisation, lost 22 Bitcoins a while ago and couldn't for the life of me recover the wallet. Would be worth $13,200 now ;D
:D

Offline danwms

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Re: Bitcoin
« Reply #181 on: April 4, 2014, 09:24:50 pm »
It was typical. Spent a while making an app to keep up to date with Bitcoin prices.
Released it and then a week later it all kicked off with mt.gox and I lost all my Bitcoin.

Anyway if anyone still has any, I have updated the app now so it works with a number of exchanges other than mt.Gox.

https://play.google.com/store/apps/details?id=uk.co.danwms.bitcointracker

Offline Euskadi

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Re: Bitcoin
« Reply #182 on: June 30, 2014, 04:35:45 pm »
;D  Mate of mine and me are the same, everyone swears we are brothers when we're out. He calls me slaphead, I call him slaphead, so when I see him I go "slap" and he replies "slap. People be looking and thinking what the f**k are these 2 on  ;D
but he's a blue nose, so he's a c*nt
 
as per "Slaphead" on the 10th May 2018

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Offline conman

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Re: Bitcoin
« Reply #184 on: December 12, 2015, 03:40:49 pm »


New Clues Suggest Craig Wright, Suspected Bitcoin Creator, May Be a Hoaxer


WHEN WIRED NAMED Craig Wright Tuesday as the most likely suspect to be Satoshi Nakamoto, the mysterious creator of bitcoin, we laid out two possibilities that outweighed any others: “Either Wright invented bitcoin, or he’s a brilliant hoaxer who very badly wants us to believe he did.” Three days later, new clues point to that second, strange scenario.

In mid-November, WIRED began receiving leaked material from a source close to Wright, including emails, transcripts, a trust agreement, and much more. It seemed to show a mountain of evidence that Wright, a computer security researcher and entrepreneur, had conceived of the cryptocurrency that would become bitcoin, released it with the help of his friend and confidant Dave Kleiman, and run a collection of computers to generate the more than one million coins believed to be held by Satoshi Nakamoto. (Separately, Gizmodo received its own overlapping but distinct collection of documents from a source it described as a hacker, who may or may not be the same as ours.) Those leaks led us to other independent evidence: three posts on Wright’s blog hinted at bitcoin’s creation and launch, a document on an accounting firm’s website showed Wright invested a suspiciously large sum of bitcoins into one of his companies, and another of his firms claimed ownership of two cryptocurrency-related supercomputers that were listed in the official Top 500 list of the world’s most powerful.

Since then, however, three new inconsistencies have cast doubt on that evidence, and added weight to the “hoax” side of the scale:

Wright’s company Cloudcroft had claimed to own two supercomputers, one of which it said was built by computer-maker SGI. But in an email to WIRED, (and as reported earlier by ZDNet) SGI says that “Cloudcroft has never been an SGI customer and SGI has no relationship with Cloudcroft CEO Craig Steven Wright.” The supercomputer-ranking organization Top500, which had listed two of Wright’s computers as some of the fastest in the world—one as high as 15th place earlier this year—declined to comment on how they’d verified Wright’s entries.
Wright had listed two PhDs on his since-deleted LinkedIn page, one from Charles Sturt University in Bathurst, Australia, in computer science. But that university now tells Forbes that it never gave Wright any PhDs, although it granted him three master’s degrees in related fields: Networking and Systems Administration, Management (Information Technology), and Information Systems Security.
An analysis of two PGP public keys attributed to Wright but also linked to Satoshi Nakamoto—one in our story and one in Gizmodo’s—show that they were likely created more recently than the documents in which we found them. Vice’s Motherboard site came to that conclusion based on the keys’ length and types of cipher suites they used, compared with another, known public key for Satoshi Nakamoto.
That final piece of evidence in particular resonates with something we pointed out in our original story: Wright seemed to planting breadcrumbs that would lead us to his theoretical secret identity. In fact, we’d already spotted that the three posts in Wright’s now-deleted blog that seemed to reveal his bitcoin work had been backdated or edited after the fact to insert that evidence; the clues were all missing in archived versions of the posts from 2013. Combined with our other apparently solid evidence, however, we wavered on whether the backdated posts were the sign of a hoax to steal Satoshi’s glory (or money), or simply the sign of a conflicted personality who may have hoped to finally receive credit for his work.

The two major holes in Wright’s resume that have come to light since, however, point to a hoaxer who may have planted clues of his purported bitcoin creation, just as he seems to have misrepresented his academic credentials and supercomputing achievements. WIRED has called Wright for comment and hasn’t heard back. In fact, Wright hasn’t responded to any of our emails since the week before WIRED and Gizmodo’s stories, and on Friday the email addresses where we’d previously contacted him bounced back our messages.

If Wright is in fact faking the clues connecting him to bitcoin’s creation, plenty of questions remain. Our archived copies of the blog posts showed that their backdated changes had begun in March 2014 at the latest, meaning that any hoax would have to be a long con more than 20 months old. And the accounting firm McGrathNicol continues to host a liquidation report for one of Wright’s companies on its website showing that he invested $23 million in bitcoin in the company in 2013. At the time of the company’s incorporation, that would have represented 1.5 percent of all bitcoins, an intriguingly large amount for an unknown player.

Wright’s colleague Ian Grigg, a financial cryptographer whom Wright has cited as writing a paper that helped inspire Wright’s bitcoin work, wrote Wednesday on Twitter that he’d learned Wright had been hacked and extorted for money, and that the extortionist had given documents to the media (presumably meaning WIRED and/or Gizmodo). WIRED’s source, in addition to providing us with documents, also ranted about Wright’s character and made potentially damaging and unproven accusations that we declined to print, a seeming indication that it was not Wright himself. But the posts to Wright’s blog as well as his non-denial of writing those posts when we asked him about them last week show that any hoax would require Wright’s own involvement. To plausibly fit into a hoax theory, it seems all that alleged extortion, hacking, leaking, and venomous criticism would have to be part of Wright’s own plan.

On Wednesday, the Australian Federal Police searched Wright’s home and office in Australia in relation to a tax issue, but the AFP refused to comment on the nature of the investigation except to say that it’s “unrelated to recent media reporting regarding the digital currency Bitcoin.” The Australian Tax Office declined to comment as well.

If Wright isn’t Satoshi Nakamoto, but is hoping to take credit for bitcoin anyway, he would have had to expect that his glory would be shortlived. On Thursday, one message was already sent to a Bitcoin development mailing list from a known Satoshi Nakamoto email address reading “I am not Craig Wright. We are all Satoshi.” That email lacked the PGP signature from Satoshi’s private key that would have made it more credible, and came from the wrong IP address. Even the mailing list’s moderator dismissed it as easily spoofed.

But if the real Satoshi Nakamoto is alive and does indeed still possess his PGP private key, he could easily dash off a similar but unforgeable note to discredit any pretender. Satoshi’s signature would prove that whoever wrote the message possessed that unique, secret key.

No such signed message has appeared yet. For the moment, that leaves Craig Wright’s story as another unresolved twist in the Nakamoto mystery.

http://www.wired.com/2015/12/new-clues-suggest-satoshi-suspect-craig-wright-may-be-a-hoaxer

Offline conman

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Re: Bitcoin
« Reply #185 on: December 12, 2015, 03:41:39 pm »
Does anyone here have any bitcoins?

Online Kashinoda

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Re: Bitcoin
« Reply #186 on: December 12, 2015, 04:15:21 pm »
Use them all the time, don't keep hold of them though... though they're not really volatile anymore.



After the buzz has died down, it turns out Bitcoin is here to stay. Are there still those who think this is a Pyramid scheme :D?

Bitcoin Transactions per month

« Last Edit: December 12, 2015, 04:19:58 pm by Kashinoda »
:D

Offline Twelfth Man

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Re: Bitcoin
« Reply #187 on: December 12, 2015, 04:36:53 pm »
I want to buy some. Guide to sites and wallet etc?
The courts, the rich, the powerful or those in authority never lie. It has been dealt with 'by the courts' nothing to see here run along.

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Re: Bitcoin
« Reply #188 on: December 12, 2015, 05:05:40 pm »
I want to buy some. Guide to sites and wallet etc?

I use kraken, very straightforward, but you will need to provide personal details. Some people prefer to buy them anonymously.

https://www.kraken.com/

Offline Twelfth Man

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Re: Bitcoin
« Reply #189 on: December 12, 2015, 05:10:07 pm »
I use kraken, very straightforward, but you will need to provide personal details. Some people prefer to buy them anonymously.

https://www.kraken.com/
Cheers, would need to be anon...
The courts, the rich, the powerful or those in authority never lie. It has been dealt with 'by the courts' nothing to see here run along.

Offline CraigDS

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Re: Bitcoin
« Reply #190 on: December 12, 2015, 05:10:47 pm »
Does anyone here have any bitcoins?

Very very annoyingly I heard of them fairly early on and had so much going on I just sort of passed on the idea. Had I even just got in with a handful back then they'd of been worth a fortune now.

From memory at the time they were about $0.10 each. In last month they've been as high as $504 each. $100 worth back then would be over $500k at that value!

Offline AndyMuller

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Re: Bitcoin
« Reply #191 on: December 12, 2015, 05:11:22 pm »
I'm interested in this but don't understand how it works and how to make money from it?

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Re: Bitcoin
« Reply #192 on: December 12, 2015, 05:21:21 pm »

Online Kashinoda

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Re: Bitcoin
« Reply #193 on: December 12, 2015, 05:23:29 pm »
I'm interested in this but don't understand how it works and how to make money from it?

It's not a thing to make money with, it's a digital currency.
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Re: Bitcoin
« Reply #194 on: December 12, 2015, 06:10:17 pm »
It's not a thing to make money with, it's a digital currency.

People trade currency to make money
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Re: Bitcoin
« Reply #195 on: December 12, 2015, 10:10:37 pm »
It's not a thing to make money with, it's a digital currency.
Its both really due to its volatility

Offline Alan_X

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Re: Bitcoin
« Reply #196 on: December 12, 2015, 11:47:57 pm »
After the buzz has died down, it turns out Bitcoin is here to stay. Are there still those who think this is a Pyramid scheme :D?


It's not a ponzi scheme but the fact that early adopters have made a killing stinks for something that was lauded as breaking the dominance of the traditional banks. There are a whole load of bitcoin millionaires who have done fuck all apart from speculating early - they haven't made anything, they haven't added anything to the intellectual, technological or artistic net worth of the human race.

Obviously it's valuable to speculators and to certain people who don't want their payments to be traceable but for most it's an irrelevance. 6 billion dollars worth of bitcoins in circulation compared to $1.4 trillion in circulation and a gross world product of 78 trillion.
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Offline conman

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Re: Bitcoin
« Reply #197 on: December 13, 2015, 12:29:06 am »
It's not a ponzi scheme but the fact that early adopters have made a killing stinks for something that was lauded as breaking the dominance of the traditional banks. There are a whole load of bitcoin millionaires who have done fuck all apart from speculating early - they haven't made anything, they haven't added anything to the intellectual, technological or artistic net worth of the human race.

Obviously it's valuable to speculators and to certain people who don't want their payments to be traceable but for most it's an irrelevance. 6 billion dollars worth of bitcoins in circulation compared to $1.4 trillion in circulation and a gross world product of 78 trillion.
I think it's closer to 20 billion dollars now, but yea it's just a small player right now. Advancements in technology is rapid, so it's definitely something to keep an eye on, and it;s not unsurmountable that it could rapidly grow. Imagine the impact of Amazon, Google, Alibaba & Apple adopting Bitcoin for instance. You could imagine a giant growth in adoption rates and value.

Bitcoin payments for the most part are traceable, as people use exchanges to transfer money rather than original methods which require more technical expertise.
Cash is the most untraceable form of money transfer & some specialised centralised payment processors.

It is not likely to be a threat to currencies for some time. It's also more of a layer than a standalone currency, at least for now. although you can imagine some less advantaged countries may use it, countries which don't want to be tied to the dollar or Euro.

Bitcoin is a more credible alternative to Credit Cards, Western Union and Paypal, and has serious advantages and disadvantages too.

For instance, it cannot give loans like a credit card companies can.
It cannot offer insurance on money either.
The transactions are instantaneous & there are no merchant fees. So paying for goods is cheaper.
Transferring money abroad is a hell of alot cheaper too. Western Union and similar companies charge between 5% & 10% to transfer cash, which can be a hell of a lot of money and this market is huge!

People should look beyond what the newspapers say, as it's a so much more than a reportedly untraceable, alternative currency.

« Last Edit: December 13, 2015, 08:04:04 pm by conman »

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Re: Bitcoin
« Reply #198 on: December 13, 2015, 01:58:40 am »
Bitcoin is a more credible alternative to Credit Cards...

That's a bold statement. For example, I'm in New York at the moment and I've used my credit card to pay for the hotel bill, for meals, cash advances, store purchases, rail tickets. How exactly would bitcoin be a more credible alternative?
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Re: Bitcoin
« Reply #199 on: December 13, 2015, 09:28:48 am »
I agree, Alan.

I've been interested in blockchains and how they work (as it is a hot topic in my work), so was looking around for some introduction videos. By way of that, I came across one about the process of trying to buy and sell a Bitcoin using a Bitcoin ATM. It looked so convoluted and expensive with big (6%) fees being charged to both buy and sell. I was pretty skeptical about Bitcoin before watching that but after... Eeek.