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Bitcoin currency

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  • Bitcoin currency

    Bitcoin= virtual currency called bitcoin that is untraceable and un-hackable
    Story here - L019: Bitcoin P2P Currency: The Most Dangerous Project We've Ever Seen - Launch -

    Like the "fuck the establishment" ideal behind it. Well thought through and will be interesting to see how this plays out, trying not to be pessimistic.
    "Democracy means simply the bludgeoning of the people by the people for the people"

  • #2
    Little be dramatic in places but nice find. Will be interesting to see how it developes - i am not rushing out and buy a bunch of bitcoins however.


    • #3
      Way overdramatic. I'm guessing it's been written by people who have been mining bitcoins and are trying to pump & dump to make a profit.

      What all the predictions fail to take into account is that people are essentially lazy. Currently there is no overwhelming reason for people to start using bitcoin, so people will keep doing what they do now.
      Originally posted by The Wolf
      That's thirty minutes away. I'll be there in ten.


      • #4

        Until you can actually use bitcoins for things you actually want I think it will mostly be a power nerd venture.
        "Democracy means simply the bludgeoning of the people by the people for the people"


        • #5
          Currently there are 6M coins at $6.70 each for a total economy of about $40M. Bitcoin speculation and hoarding will also cause a massive spike in bitcoin value. For example, if 10M people find out about bitcoins in the next year and want to buy $100 worth, $1B will be infused into the bitcoin economy.
          Sounds a bit like insider trading to me... Thinly veiled "This shit is about to break huge, so smart people will stock up now... hint hint".

          Also, if you're running a two-drive RAID-1, are your bitcoins worth half as much, or twice?

          *EDIT* Just read up on it properly... it's a very interesting idea... I'll be following it, but not getting involved...
          Last edited by Dragunov-21; 20-05-2011, 09:47 AM.
          Originally posted by Dragunov-21
          If you want me to answer a question, I want you to ask one that doesn't put words in my mouth that were never there.