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Isn't 1.2GH/s complete crap? If I remember right I get over 60 on my single computer. |
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AvolitionJoin Date: 2011-04-20
Post Count: 708 |
@Necro
One does not simply make a bitcoin account
@Trappings
I think you're thinking of Mh/s. There's 1,000 Mh/s in 1 Gh/s. I get around 1240Mh/s with all 3 of my miners running at once. |
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lombardo2Join Date: 2008-11-30
Post Count: 1603 |
Yes, it's used on illegal sites on tor net such as silk road, but there are a couple of pages that accept bitcoins for legal things... |
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lombardo2Join Date: 2008-11-30
Post Count: 1603 |
Bitcoin doesn't need an intermediary, you just send the money directly. That's why it is used to buy illegal things |
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GigsD4XJoin Date: 2008-06-06
Post Count: 3794 |
You can't mine for bitcoins with a normal computer, silly! There are people who dedicate themselves to mining bitcoins, and even mine in groups! Some even make their own bitcoin-mining-specialized computers! |
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@pokelover
tldr; your ad hominem arguments make you a d**che.
"I refuse to even acknowledge it as a currency. People try and use it as one, but it doesn't make it one. If you go around trading scissors for everything, does that make scissors a currency? Absolutely not. "
Absolutely Yes. Look up the definition of currency. Currency is an accepted medium of exchange.
'Bitcoin is terrible, it is not revolutionary, and it is not ahead of its time."
What makes it revolutionary is the fact that it's decentralized - there is no controlling authority.
Your "libertarian drug user" prejudices prevent you from seeing that bit coins, despite some failings, represent a novel and very interesting recent social/political/economical development. Bitcoin may not win the day, but some nation independent, distributed currency variant will eventually rise as a global force. |
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Going at your post from the bottom first and then in random order because I want to get certain things out of the way before others:
"Bitcoin may not win the day, but some nation independent, distributed currency variant will eventually rise as a global force."
I disagree. Fiat currency regulated by individual nations will not fall to a decentralized currency - governments will not allow it. The closest we'll get to that is the Euro, which is still centralized and regulated by the EU within the Eurozone. It's not tied to individual nations, but it isn't accepted everywhere or decentralized. And not only will governments not allow it, businesses won't either. Local fiat currencies are far better for their interests than a global decentralized currency. The problem with a global currency is that if there's economic turmoil in one part of the world with it, the entire world is thus dragged into economic downfall whether it likes it or not because they're all tied to the currency. As soon as the currency gets depreciated, everyone is affected by it. In contrast, local fiat currencies are not usually affected by how other currencies are doing. If the British Pound were all of a sudden to halve in worth, the world might see a bit of a problem, but largely other currencies shouldn't be too horribly affected. If Bitcoins were a global force and mainly used by people, depreciation would be devastating to the world. This is the entire reason local fiat currencies still exist: so you don't fail because another country is. Sure, you can make the argument that if a larger country becomes economically devastated, a good deal of the world might feel the impact, but they'd find a way to recover their own currencies relatively easily and perhaps help the larger country out. With a decentralized global currency? The economy crashes, but there's no regulation, no local fiat currencies to stabilize, nothing to fall back on. The economy just crashes, and you have to hope for the best. By the time it would become popular, all the Bitcoins would probably be mined, so more cannot be introduced into the system. Bitcoins could be held as a monopoly by the few (which it largely appears to be heading towards, with miners appearing to be holding a monopoly on production and those interested in profit holding the monopoly collectively as they sell their Bitcoins to each other and buy them from miners) and, because it is decentralized and unregulated, no one could do anything about it.
tl;dr: Decentralization and deregulation are the exact reason why it will fail. Governments will say no and businesses will say no because it's not in the interests of either.
Also, the definition of currency is not an accepted medium of exchange. It is: "A system of money in general use in a particular country."
"What makes it revolutionary is the fact that it's decentralized - there is no controlling authority."
But that's not revolutionary, as I stated before. Ripple did it first. It was never popular, but it still did it 4 years before Bitcoin did. A definition of revolutionary is: "markedly new or introducing radical change." Bitcoin was 4 years late to the party, though I will give it credit for at least gaining a bit of attention. |
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AvolitionJoin Date: 2011-04-20
Post Count: 708 |
I already said this up there ^^ and I'll say it again: people who think Bitcoin is a threat, or replacement, to the US dollar is silly.
I think it would be a fun idea to ponder and to play with, (hence me asking what would be wrong with it), but I know it's not a reality due to people like you.
Bitcoin is a perfect online currency for times when, for example, people realize how horrible PayPal is.
Bitcoin was not meant to lead a nation |
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AvolitionJoin Date: 2011-04-20
Post Count: 708 |
I don't know poke, BTC has been raising substantially... It's at a high of $7.2 right now, and I remember a high of $4.9 a few months ago. |
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geicogekoJoin Date: 2010-04-27
Post Count: 2727 |
It used to be at 27 something when the silk road was threatened. |
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AvolitionJoin Date: 2011-04-20
Post Count: 708 |
oyus, 30 dollar btcs were the days |
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AvolitionJoin Date: 2011-04-20
Post Count: 708 |
"HEY GUYS BITCOIN WILL FAIL"
6 months later
bitcoin peaking $13 high
lol pokelover
gg no re |
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WowgnomesJoin Date: 2009-09-27
Post Count: 26255 |
I have a stash of bitcoins. |
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1waffle1Join Date: 2007-10-16
Post Count: 16381 |
@trapping that's your screen refresh rate. he's talking about the speed of his processor. |
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fliboysJoin Date: 2010-03-26
Post Count: 5559 |
Pfft.
Bitcoins? Bartering?
I'll give you 13 beaver pelts for that bottle of stupid you've got going over there. |
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One of the major reasons why the value a bitcoin dropped was because one of the bitcoin exchange sites was hacked and hundreds of thousands of dollars worth of bitcoins were stolen. |
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zxv12Join Date: 2009-07-18
Post Count: 286 |
If it's free money you're looking for, run a currency trading bot on XE. |
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AvolitionJoin Date: 2011-04-20
Post Count: 708 |
$45 a coin and rising
darn pokelover, you got mee |
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RiderjJoin Date: 2011-08-15
Post Count: 1534 |
Why bump? |
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I've been mining Bitcoins for a month now... I'm also trying Namecoins and Litecoins.... But, I like cgminer for Litecoins and GUIminer for Bitcoins. My favorite pool sharing is PPS and not PP[L]NS. Those arent any good for my computers. BTW, if you get a lot fo BTC, can you send some to 1J9YHPvoqEpcxPqyMonzyZ9x6LXbgj58ae and if you use LTC, perhaps send some to LPY2FDV69utTDTA82j2wyfDuorPZkHs4B1 ? I really am a newbie at LTC and BTC, but I can try and help you out, too. I'm glad I FINALLY found someone else who uses Bitcoin! It is really awesome! [Sorry for bumping this, but I thought he might find this if I did].
P.S. Don't hate me for bumping this post, I've been looking for someone else who uses BTC for a LONG time... |
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