I could see it happening. I somehow knew people would eventually warm up to the concept of having X money on a USB thumb drive. Convenience of fiat from a transport perspective, and out of the hands of the bankers.Quote:
Originally Posted by chad
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I could see it happening. I somehow knew people would eventually warm up to the concept of having X money on a USB thumb drive. Convenience of fiat from a transport perspective, and out of the hands of the bankers.Quote:
Originally Posted by chad
I noticed that some large retailers are now taking Paypal (Home depot). I wonder how long before retailers start taking bitcoin too?
Finally finished but the size is under 100MB, wtf took up 6GB and where did it go? Strange stuff.
Looked up data mining, wow some of these guys are seriously hooked on feeding the electric companies!
No kidding, look at some of the bitcoin mining rigs on YouTube. Some are absolutely insane. The 6GB I BELIEVE was the client verifying the blocks it was given. So it was a lot of back and forth with the p2p network.Quote:
Originally Posted by Cebu_4_2
so you take your paper money that you could be using to buy food and silver with to buy bitcoins , so what have i missed . wait i have food , land . silver , gold . all the tools i need and yet to me i dont see why i would buy bitcoins . hey guys used the paper you have now to top off the stuff you need . because the goverment will stop bitcoin and you all know this . they will not lets bitcoin take from the fed , just look at the wars we all have seen in ten years
I agree, I don't think you should "invest" in bitcoins, like you shouldn't invest in any currency.Quote:
Originally Posted by mick silver
There are three reasons you might want to buy bitcoins:
1) You see something you want to buy. Get bitcoins and buy what you want. It doesn't matter if they are $0.01 or $100 each, you just get what you need and make your purchase.
2) You want a diversified basket of money or currency in case of an emergency. So you get $500 or $1000 in bitcoins, and if you get stranded in another city/state/country, thugs steal your stuff, or whatever, you've got a few emergency dollars.
3) Speculation. This is if you are an expert on money/cryptography/banking. Or perhaps you want to gamble on something high-risk. It's just like any other speculative thing.
None of those things counts as an investment, such as food, ammo, real estate, etc. Nor is it a store of wealth like gold and silver.
Investment and wealth preservation aren't reasons you'd want bitcoins. The above three reasons, however, are why you might want them.
I just saw this interesting quote from an article I read:
http://lfb.org/today/deja-vu-all-over-again/Quote:
While fear and uncertainty spreads across the European banking sector, that fringy cybercurrency we’re hearing so much about, Bitcoin, shot up roughly 25% overnight. Maybe a 400%-plus increase YTD signifies a bubble…then again, parachutes tend to appreciate rather quickly when the plane begins to nose-dive.
Man Lists Bungalow for Bitcoins
http://l.yimg.com/bt/api/res/1.2/d10...0321_wmain.jpg
Taylor More is selling his family's bungalow with an asking price of $405,000 (that's Canadian dollars) or 5,521 Bitcoins. He would rather have the Bitcoins.The two bedroom room and one bath bungalow in Alberta, Canada, sits on 2.9 acres of land along the Crowsnest River. That part of the deal is easy to understand. Why More wants Bitcoins isn't.
"I just really believe in them and once I read my first article about them, I was hooked," said More, who is 22 and said he used to be a currency trader. "I can take control of my own money, I don't have to worry about the government stepping in and taking it and freezing my account."
Bitcoins are digital currency. One Bitcoin is equal to $72.50. There are no actual coins, but they have been growing in their use. Stores like Walmart even sell gift cards for Bitcoins.
"I have a few ventures that I am working on that involves Bitcoins and I am going to need a lot of Bitcoins to do them. I thought this might help Bitcoin gain some ground, once people see that you can actually buy a piece of property or a physical tangible thing," said More.
More would not specifically tell ABC News what he was working on, but did say, "Bitcoins are rather hard to get your hands on."
More's listing has only been up for a few days and there has yet to be an offer, but he is hoping that the media attention will help. "If someone had a partial payment in Bitcoins, I would be willing to negotiate, but I wouldn't turn down somebody who had cash," More said.
Charlie Shrem, CEO of BitInstant, a payment processor for Bitcoin exchanges and other merchants, describes the digital money as "both the currency unit and the payment system… It's as if cash had wings and it could fly."
"I think it would be great," Shrem said of More's real estate offer. "It would be a private transaction. He can sell his house to anyone in the world, it doesn't have to be from Canada, and it won't cost anything to move that money."
No matter how limited they are and how secure and independent they may be, I still see them as fiat. They are backed by nothing tangible.
Fiat?? Who is forcing you to use and conduct commerce in BitCoins?Quote:
Originally Posted by woodman
They are backed by nothing tangible? The very same thing is said about the U.S. dollar. It is both fiat (ordered by government) and is neither backed by anything tangible.
The only difference with Bitcoins is that it has a set limit, and no government can regulate it, and it is far from fiat. No one is forcing anyone to use them. It's a free market digital currency and will rise or fall on it's own merit.
Fiat is by "official decree", and is not voluntary.Quote:
Originally Posted by woodman
The price discovery method for Bitcoin is the free market law of supply and demand.
A "dollar" is worth a "dollar" because "government" says it is.
Bitcoin is different. And whether you like it or not, five years from now, some people might be kicking themselves because they didn't look more into it.
Of course, Bitcoin is not gold or silver. But dammit, it's still better than unlimited fiat currencies run by joo banksters.
You can buy a couple hundred FRNs worth of bitcoins at an appropriate time, wait, and then sell bitcoins for thousands of FRNs worth of gold and silver bullion.
What other medium has gone from $0.001 each to ~$70.00 each? Hell even bitcoin at one dollar each is still a stupendous rise.
A BACK DOOR INTO INTERNET CONTROL has finally been weaseled into by the Jews at the US Department of Treasury.
For no sooner did the Jew, Jacob Lew, take charge of the Treasury, controlling the Internet became his very first order of the day.
With his fellow Jew, Neal Wolin, Deputy Secretary of the Treasury, along with (yes, Jews) David Cohen/Daniel Glaser, Under Secretaries for Terrorism and Financial Intelligence, Lew decided that money laundering rules should apply to all Web Money…including the growing Internet trading privacy-oriented currency known as Bitcoin.
Glaser, as policy maker for “anti-money laundering,” oversees the Treasury’s Financial Crimes Enforcement Network (FinCEN) which published this past Monday a ‘guideline’ for Internet sites that use virtual currencies such as Bitcoin to comply with the Treasury’s Bank Secrecy Act.
This Jew-inspired ‘guideline’ is aimed at fitting “de-centralized virtual currencies” into the larger regulatory regime under which government-controlled currencies of all kinds are required to operate.
Morgan Peck of Tech Talk explains that the Bank Secrecy Act requires any financial institution that can be defined as a money transmitter to register with FinCEN and help detect money laundering by keeping track of its clients and reporting ’suspicious’ activity.
Those entities that facilitate the exchange of Bitcoins for fiat currency and their online clients will have to take note. Layers of Jewish-tiered bureaucracy, filing, and reporting could soon make Internet trading in virtual currencies a still-born initiative.
Jon Russell of Next Web observes that just this month, top domain registrar Namecheap decided to accept payment in Bitcoins, while Finnish software maker Sc5 last week began allowing its staff to receive parts of their salary in the currency.
Also on the radar by the Jew-run US Treasury is Facebook Credits, which serves a possible base of more than 1 billion users, as well as Kim Dot Com’s empire of file sharing followers and the popular Reddit site, both using Bitcoin for online transactions.
A further explanation of the Treasury’s ‘guideline’ is outlined by Andrew Leonard of Salon who calls the regulation initiative a “libertarian’s nightmare.” Leonard makes the point that Bitcoin isn’t just an elegant way to create money using peer-to-peer networks and cryptography. Bitcoin is a currency with an ideology.
From the beginning, Bitcoin was envisioned as a form of monetary exchange that didn’t need third-party financial institutions or central banks or even governments to validate it or back it up.
Bitcoin is the fulfillment of a libertarian dream, a currency created out of the workings of the free market, unaffiliated with any state authority, respectful and protective of user privacy and anonymity, and designed to resist inflationary pressures.
By its very nature, Bitcoin is made for people who don’t want other people to know what they are doing.
But if the Jews at Treasury have their way, all who enjoy the use of Bitcoin will soon be deprived of the privacy and anonymity they currently enjoy.
In other words, if it works and it’s good for the people, the Jews will ruin it. View Entire Story Here, Here, Here & Here.
THE DANGER of this Jew-inspired “guideline” coming out of the Jew-controlled and run US Treasury, is three-fold:
• The users of Bitcoin and other Internet currencies will no longer enjoy the privacy connected with these mediums of exchange. Big Brother Jew will be watching every transaction made.
• The Jews will have finally gotten their freedom-hating fingers into the Internet through the back door of monitoring and regulating electronic transactions.
• The Jewish encroachment of gradualism will unfold from the drapery of monetary regulation into ‘hate purchase’ regulation (books and materials the Jews fear) and then on to “hate speech” monitoring which will give the Jews TOTAL control of the Internet and the end of exposing their lies and crimes.
http://www.realjewnews.com/?p=805
like i have said they have killed million of people over paper so dont think for a second that the gov will let this go on ... thanks ee .....see post 85
So it begins.Quote:
Originally Posted by EE_
There are a lot of countries out there. Russia, china, iran, brazil, india....I'd like to see them try to shut bitcoin down in those places too. What are they going to do? go bomb bitcoin headquarters? Create a firewall around the US? Threaten to prosecute people in bankrupt european countries for using bitcoin?
It's a game of cat and mouse now. We'll see how it turns out. It's too bad for them that they have to fight this while they are in the process of dismantling and reshaping their world money system, it's kind of a vulnerable time for them. It would have been much better if they already had all these regulations in place before they did their global collapse, or even better if they already had the new system set up.
Once they make their power play and try to prosecute someone, the bitcoin community will react to fix whatever flaws come to light.
My guess is they'll take it underground. Go to darknet / deep web, and run the miners through Tor, and setup their own exchanges with Tor Hidden services. You could have the server located in the United States hosted right next to the Treasury servers in D.C. and they'd never know it.Quote:
Once they make their power play and try to prosecute someone, the bitcoin community will react to fix whatever flaws come to light.
I believe it has the potential to break the back of big Joo-ish finance and that's why they are afraid of it. If Bitcoin gets to the point of universal acceptance where it is fully exchangeable with FRNs, $CDN, Euro, Au & Ag -- there will be no stopping it.
Anyone want to start a GSUS mining pool?
They want to tax it which will dissolve it from the fact that it has a limit and doesn't print up more.
But they can only tax it in FRNs. They can't tax it in bitcoins, so they can't accumulate the bitcoins themselves.Quote:
Originally Posted by Cebu_4_2
tagged for future read.
How dangerous is Bitcoin and any other P2P money exchange?
You can tell by a number of suicided participants.
1.
"The internet activist Aaron Swartz described a similar concept"
http://en.wikipedia.org/wiki/Bitcoin
Quote:
Aaron Hillel Swartz (November 8, 1986 – January 11, 2013) was an American computer programmer, writer, political organizer and Internet activist.
Swartz was involved in the development of the web feed format RSS,[2] the organization Creative Commons,[3] the website framework web.py[4] and the social news site Reddit, in which he was an equal partner after its merger with his Infogami company.[i] Swartz also focused on sociology, civic awareness and activism.
On January 11, 2013, two years after his initial arrest, Swartz was found dead in his Crown Heights, Brooklyn apartment, where he had hanged himself.
http://en.wikipedia.org/wiki/Aaron_Swartz
Also Related:
Also Related: Len Sassaman , AnonymizerQuote:
Gene Kan (September 6, 1976 — June 29, 2002) was a British-born Chinese American peer-to-peer file-sharing programmer who was among the first programmers to produce an open-source version of the file-sharing application that implemented the Gnutella protocol. Kan worked together with Spencer Kimball on the program called "gnubile" licensed under the GNU General Public License. Kan graduated from the University of California, Berkeley in 1997 with a major in electrical engineering and computer science.
In June 2000, he formed a distributed search engine known as InfraSearch.com. Netscape co-founder Marc Andreessen was an investor in the start-up. InfraSearch was purchased by Sun Microsystems on March 6, 2001 for $12.5M USD in Sun stock options. The acquisition became part of the JXTA project at Sun. Kan joined Sun as an employee, and continued to work with the technology.
Kan was relatively well known in internet circles for a testimony he gave in July 2000 at the Senate Judiciary Committee Hearing on "Intellectual Property in the Digital Age".[1] Metallica drummer Lars Ulrich, Sony CEO Fred Ehrlich, and others also gave testimony at the hearing.
On June 29, 2002, he committed suicide. The cause of death was a single gunshot wound to the head.
http://en.wikipedia.org/wiki/Gene_Kan
Also related: Ilya ZhitomirskiyQuote:
Leonard Harris Sassaman (1980 – July 3, 2011) was an advocate for privacy, maintainer of the Mixmaster anonymous remailer code and remop (operator) of the randseed remailer.
Sassaman was employed as the security architect and senior systems engineer for Anonymizer. He was a PhD candidate at the Katholieke Universiteit Leuven in Belgium, as a researcher with the Computer Security and Industrial Cryptography (COSIC) research group, led by Bart Preneel. David Chaum and Bart Preneel were his advisors.
Sassaman was a well-known cypherpunk, cryptographer and privacy advocate. He worked for Network Associates on the PGP encryption software, was a member of the Shmoo Group, a contributor to the OpenPGP IETF working group, the GNU Privacy Guard project, and frequently appeared at technology conferences like DEF CON. Sassaman was the co-founder of CodeCon along with Bram Cohen, co-founder of the HotPETS workshop (with Roger Dingledine of Tor and Thomas Heydt-Benjamin), co-author of the Zimmermann–Sassaman key-signing protocol, and at the age of 21, was an organizer of the protests following the arrest of Russian programmer Dmitry Sklyarov.
Sassaman is reported to have died on July 3, 2011.[8] Patterson reported that her husband's death was a suicide.[9][10]
A presentation given by Kaminsky at the 2011 Black Hat Briefings revealed that a testimonial in honor of Sassaman had been permanently embedded into Bitcoin's block chain.[11]
Quote:
Ilya Zhitomirskiy (12 October 1989 – 12 November 2011)[1] was a Russian-American software developer and entrepreneur. Zhitomirskiy was a co-founder and developer of the Diaspora social network and the Diaspora free software that powers it.
On the evening of 12 November 2011, Zhitomirskiy was found dead in his San Francisco home by police responding to calls about a suspected suicide.
What is the cheapest most reliable way to exchange a few FRNs for a few Bitcoins?
Quote:
Originally Posted by cpy911
A: Get a bunch of FRN's
To help keep things in perspective.....
Quote:
Originally posted by: laszlo
May 17, 2010, 08:35:20 PM at https://bitcointalk.org/index.php?topic=137.0
I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy!
I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.
If you're interested please let me know and we can work out a deal.
Thanks,
Laszlo
http://heliacal.net/~solar/bitcoin/p...0988.small.jpgQuote:
Originally posted by: laszlo
June 12, 2010, 04:14:44 PM at https://bitcointalk.org/index.php?topic=137.0
This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds (I usually have plenty). If anyone is interested please let me know. The exchange is favorable for anyone who does it because the 2 pizzas are only about 25 dollars total, maybe 30 if you give the guy a nice tip. If you get me the upgraded extra large ones or something, I can throw in some more bitcoins, just let me know and we'll work something out.
My 1 year old daughter really enjoys pizza too! She just smears it all over her face if you give her a whole slice, but she does eventually manage to get most of it in her mouth (minus a few loose toppings of course).
As of right now, the 10,000 BTC that paid for those two pizzas in May 2010 are worth about $ 758,535.44.
An amount that could buy 2 pizzas, delivered, in May 2010 is worth more than three-quarter million dollars in today's FRNs, less than three years later.
That's some fuckin' appreciation!
https://bitcoinity.org/markets/image...6m&size=medium
Current price per bitcoin: $86.20
http://bitcoinity.org/markets
Bitcoin has far outperformed PMs for me and has been a vehicle for completely eliminating my debt. It has done in a relatively short time what these forums has promised me for years PMs would do. These same forums told me Bitcoin was a complete fools' game when I started buying it at <$1USD. Been selling all the way up and have decided to hold what I have (still a few hundred BTC). I see this thing making $1,000USD within a few years (if there still is a USD then). The upside is I still have all those PMs since Bitcoin did the work they couldn't do.
Thanks for the kick in the balls. For someone who didn't even know what a bitcoin was till a few weeks ago I feel like I missed the boat. I suppose I would feel worse if I had took a hard look at them a few years ago and decided they were a scam.
It is disturbing to watch what is going on in Cyprus and PM's are doing jack shit while bitcoin is soaring.
It has a lot to do with manipulation. Bitcoin cannot be manipulated in the same way that silver / gold have been for almost a century now. Open Source, no central issuing authority and each transaction is recorded and verified. It leaves TPTB at a disadvantage.Quote:
It is disturbing to watch what is going on in Cyprus and PM's are doing jack shit while bitcoin is soaring.
I understand why they are going up while PM's are stagnant but it doesn't really help me any. Plus I feel like buying into bitcoins now would be foolish. Normally it is wise to wait for a pullback when something has been going parabolic.
I agree, I'm a bit late in getting on the BTC train as far as buying and holding any. I only have 0.5613439 BTC and that's just been from what my graphics card has been able to "mine" in 4 months of mining. So not even a full BTC yet. lol But at current prices it's still worth just a little over 40 dollars. :)Quote:
Originally Posted by Son-of-Liberty
Something I want to add to my post here. The financial situation is only going to get worse. Europe is imploding, America is not far behind. If we as a specie are to continue. It will require a currency that has no central issuing authority. Taking away someone's ability to manipulate and control it's issuance is a HUGE bonus. Now whether Bitcoin will do that, that's the gamble, as I really have no idea. But it does have the potential. TPTB locked up gold / silver ages ago and manipulate it at will.
My gut tells me BTC's will go higher. My finances and being unemployed just won't allow me to take the risk to go with my gut.
Jesus H Ponce......if I had in bitcoins what I have in silver many American and Zionist poleticians I could buy, in the darkness of this world is good to see a shinning light somewhere in the distance.
I wonder how the Zionist bankers are planning on taking over this new trade way.
V
Regretfully, I don't have any BTC either. But you know what? We all benefit from it even if we don't have any ourselves. A successful crypto currency will drive the economy and real wealth of everybody. The only ones who lose are the banksters.
As is most always the case, I found out about it too late to really take advantage of it. Right now I have 0.09 something bitcoins, but I ordered a dedicated miner and am hoping to get a decent return.
Those are some serious machines to say the least. Gives a different meaning to 'computer porn'Quote:
Originally Posted by madfranks
Same here, I ordered my dedicated miner back in January. I keep going over their forums hoping for an update. Last I've heard the first batch has been completed and are working on testing before shipping. Sadly, I'm in batch 2 or 3, cut off between the 2 is a little grey. So not sure when I'll get mine, and what the difficulty will be by the time I get it....Quote:
Originally Posted by madfranks
because if you had bought that "electronic bit" for $60 (less than a week ago), then (today) you could turn that "electronic bit" into 3 morgans instead of the 2 that you would have been able to buy with $60 a week ago.Quote:
Originally Posted by chad
I'm personally happy for you, but I'm just now hearing this? :cool:Quote:
Originally Posted by SLV^GLD
Don't worry you'll get your 'miner' after the market has crashed, within days by the look of it...Quote:
Originally Posted by Ares
Well, that's what I was saying in the post earlier. Let's set up a GSUS pool and mine what we can before those ASIC machines are out. I have the tech ability.... and I'd even do it on my home machine [my network is slow though] but I'd like to see some interest....Quote:
Originally Posted by Ares
An addendum to my last post.I don't know if it's heavy trading or what, but my BTC wallet is on it's fourth [!!!!] day of syncing. That needs to be done before any mining can be done.
Don't worry the crypto anarchist is on your case...Quote:
Originally Posted by steyr_m