What Are Bitcoins?

Conspirator
User avatar
Posts: 7832
Joined: Thu Jul 30, 2009 9:19 pm

PostThu Sep 08, 2011 1:55 pm » by Harbin


adamo21 wrote:Dude, are you really coming to a website that promotes self-education in one of the most important aspects of humanity, and ask a stupid question? A 30 second google search would produce thousands of duplicate stupid ass fucking questions just like this one.

You're an idiot, if you cant figure out what bitcoin is, good luck with 9/11 and the black technology. noob.


Way to make friends and influence people. :flop:
Image
Image
Antiwar.com

Conspirator
User avatar
Posts: 4140
Joined: Sun Jan 31, 2010 2:30 pm

PostThu Sep 08, 2011 1:59 pm » by Aragajag


masterhunter wrote:Thanks aragajag, you have been very helpful. I think ill give this a shot. I just saw on Mt.Gox you can get almost $7 a coin. Is it direct deposited into your bank account or does Mt.Gox write a check and mail it to you?


Ease of movement between currencies is getting better by the month.
You can go direct but double check on your country to be sure, in Aust I can get out ozzie dollars direct.
I really recommend reading lots first, you need to decide whether to keep you wallet on your hard drive or leave it all on the exchange or what ever you choose suits.
Its early days with it and many improvements are needed to go mainstream, like cash you have to know what you are doing with it. You dont leave your wallet on a park bench and expect to find it 2hrs later, research security first is my opinion then you will pick up other info you need.
Image
'Gee, I wish we had one of them Doomsday Machines, Stainsey..' General "Buck" Turgidson

Initiate
User avatar
Posts: 307
Joined: Thu Apr 19, 2012 8:07 pm

PostFri Sep 09, 2011 9:52 pm » by FullDisclosure


adamo21 wrote:Dude, are you really coming to a website that promotes self-education in one of the most important aspects of humanity, and ask a stupid question? A 30 second google search would produce thousands of duplicate stupid ass fucking questions just like this one.

You're an idiot, if you cant figure out what bitcoin is, good luck with 9/11 and the black technology. noob.

Bitcoins are very complex and even the extensive Wikipedia article leaves more questions than answers.
http://en.wikipedia.org/wiki/Bitcoin

So basically Bitcoins are "generated" out of nothing via complex cryptographic algorithms using your computer's video card processor, and when a successful block is computed it is sent to a botnet run database and propagated to all the other databases.


malogg wrote:bitcoins are a con whoever is burning your comps up and your electricity is not using it for anything good DOH its turning your comp over at top end ripping the shit out of it and what for a few coins that are on a screen you can trade them for more coins or useless crap but really all these comps all over are not just cracking codes for mining bitcoins they are for something sinister mayb even evil.

Maybe true if it was not an open source project, but since the source code can be reverse engineered it is unlikely they could hide malicious code. The code does put your computer's graphic processor into overdrive and will cause your computer to use more electricity.

See: https://sourceforge.net/projects/bitcoi ... in-0.3.24/


Check this site for some intense mining rigs: http://www.bitcoinminer.com/



Upload to Disclose.tv




Image
I try not to troll, but sometimes people just fucking deserve it.

Writer
Posts: 11
Joined: Fri Dec 27, 2013 4:07 am

PostSun Dec 29, 2013 1:42 pm » by Doctor of ?


Ok smart people, explain to me what bit coins derive their value from. What use is the algorithm that it run to anyone, all I see is electricity being used. What am I missing?

Conspirator
User avatar
Posts: 4140
Joined: Sun Jan 31, 2010 2:30 pm

PostMon Dec 30, 2013 3:11 am » by Aragajag


Doctor of ? wrote:Ok smart people, explain to me what bit coins derive their value from. What use is the algorithm that it run to anyone, all I see is electricity being used. What am I missing?


Have a look at todays price, you have missed a lot. http://btccharts.com/
Image
'Gee, I wish we had one of them Doomsday Machines, Stainsey..' General "Buck" Turgidson

Initiate
Posts: 839
Joined: Fri May 21, 2010 1:15 am

PostMon Dec 30, 2013 3:51 pm » by Umbrex


Malogg wrote:prove me wrong anyone?


speaking like a religious man :D

Initiate
Posts: 839
Joined: Fri May 21, 2010 1:15 am

PostMon Dec 30, 2013 3:52 pm » by Umbrex


Doctor of ? wrote:Ok smart people, explain to me what bit coins derive their value from. What use is the algorithm that it run to anyone, all I see is electricity being used. What am I missing?


its a fiat currency. it is backed by belief in value, like every other monetary unit except the saudis


Previous

Visit Disclose.tv on Facebook