DuPz0r 5361 Report post Posted November 28, 2013 So the phrase "Bitcoin" is being chucked around the net a lot these days, and it seems to be growing momentum. I understand the concept that you let your computer solve mathematical algorithms that get sent to a large server in order to be rewarded Bitcoins that can be spent like real money or even traded for real money. But how the hell did it become an acceptable currency, and how is it not possible to just "mine" millions of bitcoins and then become rich? I guess what i'm trying to say is, how is the bitcoin made, which makes it acceptable to use as a worldwide currency? The only thing i can think of is that the bitcoin is so mathematically complex, that is requires a fair bit of computer power and electricity to mine, therefore converting your hard earn't cash into a bitcoin from the server as a payout? Fuck if i know, someone enlighten me. For those of you that don't know what a bitcoin is: And whilst i'm here, i had a random thought. Could the bitcoin become the world's most accepted currency in the future for online purchases? Share this post Link to post Share on other sites
Rob 1390 Report post Posted November 28, 2013 Not such a far out notion. I already rarely carry cash. Why not make money digital. Share this post Link to post Share on other sites
Massacre 7646 Report post Posted November 28, 2013 Meh. The feds ruined every service bitcoins used to be used for. Worthless now. Share this post Link to post Share on other sites
GunSmith 2452 Report post Posted November 28, 2013 All I know about Bitcoin is that it's the currency of choice for buying slaves/firearms/drugs on the Darknet/Deep Web, so I have the same questions you do. I hope our more knowledgeable members (*stares at Massacre*) can poast some info. Share this post Link to post Share on other sites
Massacre 7646 Report post Posted November 28, 2013 Too slow, niglet. I've already given my .00002 bitcoins on the matter. 1 Share this post Link to post Share on other sites
GunSmith 2452 Report post Posted November 28, 2013 If not valuable info, then a hearty laugh you are sure to provide. I love you. Share this post Link to post Share on other sites
DuPz0r 5361 Report post Posted November 28, 2013 Blade Runner comes to mind, when i think of bitcoins for some reason. Share this post Link to post Share on other sites
Massacre 7646 Report post Posted November 28, 2013 Don't get me all excited. If Fallout wasteland isn't a viable future, dystopian cyberpunk megacity is my next choice. It would be nice if every country with a digital presence (fuck you, yurt-dwelling, landlocked Asian countries) used a single, purely digital currency, though. 2 Share this post Link to post Share on other sites
GunSmith 2452 Report post Posted November 28, 2013 Don't get me all excited. If Fallout wasteland isn't a viable future, dystopian cyberpunk megacity is my next choice. A la Clockwork Orange? You'd fit right in. Share this post Link to post Share on other sites
DuPz0r 5361 Report post Posted November 28, 2013 http://www.youtube.com/watch?v=NU8voU4RTLQ Hopefully this is still in development. Share this post Link to post Share on other sites
ViceMan 1380 Report post Posted November 28, 2013 Never heard of it, don't intend on using it. That's my input. Share this post Link to post Share on other sites
Massacre 7646 Report post Posted November 28, 2013 http://www.youtube.com/watch?v=NU8voU4RTLQ Hopefully this is still in development. Fuck yeah. I want that splattered all over my real world. Supposedly still in development. Was following regularly, when news still flowed. Share this post Link to post Share on other sites
DuPz0r 5361 Report post Posted November 28, 2013 Never heard of it, don't intend on using it. That's my input. I use the Tor Network a lot, for my multimedia needs. So i see bitcoins on a daily bases. And Gunsmith is very much correct, in that the bitcoin is used to make illegal transactions of guns, drugs, trafficking and more, because the bitcoin is untraceable to the buyer/owner... This is another reason why i don't understand why it's becoming an acceptable method of payment. Share this post Link to post Share on other sites
gtagrl 4317 Report post Posted November 28, 2013 There's a bitcoin ATM that opened in Vancouver recently. http://www.cbc.ca/m/touch/technology/story/1.2286877 Share this post Link to post Share on other sites
Barrybran 851 Report post Posted November 28, 2013 There's a bitcoin ATM that opened in Vancouver recently. http://www.cbc.ca/m/...story/1.2286877 Fuck trying to remember that PIN! Share this post Link to post Share on other sites
Massacre 7646 Report post Posted November 28, 2013 the bitcoin is untraceable to the buyer/owner... This is another reason why i don't understand why it's becoming an acceptable method of payment. You answered your own question. It's untraceable. Once they get their hands on it, they're going to fuck it up and it's not going to be untraceable anymore. Marijuana legalization is a decent comparison. I don't want marijuana to be legalized, because the government will get involved, stuff in all the same toxic shit they added to tobacco, and ruin it. Bitcoins are the same thing. If the government - any government - gets their hands on something ubiquitous, they're going to make it into whatever they want it to be, ruining its intended purpose and spreading their own heinous corruption to a much wider market. 1 Share this post Link to post Share on other sites
DuPz0r 5361 Report post Posted November 28, 2013 I guess i did. But if they do normalize it, then there'll only be another new type of online currency, so there'll be a constant evolution of different currencies. *Imagines the future* I can imagine viewing exchange rates for online currencies alone. Bitcoin: BIT 1.0451 Pron Pennies: PRN 1727.3 Flikcoin: FLK 0.1324 CamCredit: CAM 13.54 GameRings RNG 7435.62 etc. 2 Share this post Link to post Share on other sites
Massacre 7646 Report post Posted November 28, 2013 Pron Pennies: PRN 1727.3 Snickered. Share this post Link to post Share on other sites
cuda 939 Report post Posted November 28, 2013 Dup, Bitcoin value isn't generated by electricity costs or anything like that, it's just a currency. Imagine if someone created a new country, call it Bit. Bit's official currency is Bitcoins - inside Bit you can only trade with Bitcoins. That's it really. A more interesting question would be, how did Bitcoin start the momentum? That I can't say, never really looked into it or even used it for anything. Share this post Link to post Share on other sites
Truth 429 Report post Posted November 28, 2013 I've spent some time in the Deep Web lately, very addicting. Wouldn't mind getting into Bitcoins, there's a few hitman jobs I want so I can buy more good guns. Share this post Link to post Share on other sites
Qdeathstar 1763 Report post Posted November 28, 2013 I think bitcoins arent transparent enough to be a legitmate currency I think bitcoins arent transparent enough to be a legitmate currency Share this post Link to post Share on other sites
Fido 14 27 Report post Posted November 28, 2013 The SEC is not going to let these bad boys untouched. It's a pipe dream, fellas. By the way, bitcoins are traceable. You'd have to wash them and go through other processes to make them pretty much untraceable. Share this post Link to post Share on other sites
Truth 429 Report post Posted November 29, 2013 Quote from Bitcoin.com : Bitcoin is not anonymous Some effort is required to protect your privacy with Bitcoin. All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address. However, the identity of the user behind an address remains unknown until information is revealed during a purchase or in other circumstances. This is one reason why Bitcoin addresses should only be used once. Always remember that it is your responsibility to adopt good practices in order to protect your privacy Share this post Link to post Share on other sites
Qdeathstar 1763 Report post Posted November 29, 2013 Im not even talking about their anonymity.... Im referring to the that fact that they are made readily on specific machines than can be bought.. Share this post Link to post Share on other sites
