Bitcoin
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- dbloc0
also is the value still rising?
- twooh0
$1-million Heist. Be safe. Be secure.
http://gizmodo.com/1-million-hei…
- formed0
This is all fascinating to me...#1 - that it exists, gotta love competition and #2 - that anyone puts any money in this.
I do like the possibilities for influencing the future. What Wells Fargo charges me for a repetitive wire is absurd (and they doubled it about 2 years ago). BUT I do like that I am insured and the verification process is substantial.
Cheers to those with the balls to gamble like this. I have enough concern about the stock market!
- dbloc0
I guess I don't fully understand how Bitcoin works. In the article above it says "Don't store your Bitcoin on the internet". I thought they all just resided in digital Bitcoin banks online...can Bitcoins be stored locally on your computer?
- sublocked0
^ dbloc dude that's the original way they're SUPPOSED to be stored. In a wallet file with the original Bitcoin-QT program..... smh
- sublocked0
Repost for NOOBS like dbloc
- ukit20
@dbloc - the way it works (my simplified understanding anyway :) a record of every transaction is recorded into a database file called the blockchain. This is downloaded and distributed by Bitcoin users similar to how you download torrents, so nothing has to be stored in a central location.
- ukit20
So there's really nothing to store on the internet or anywhere else except for the key to your wallet - Bitcoins don't actually exist in any form other than being recorded in this file that everyone downloads part of.
- formed0
I am with dbloc...I've read numerous articles and I keep coming to the same conclusion...what's to stop a sophisticated group from either controlling it (I've read that this is entirely possible, almost probable), a group inflating prices via hype, and someone simply hacking the system.
No one is responsible for anything, so, theoretically, someone could take everything, all $9billion.
What is to prevent that besides this "algorithm", which, as we know, nothing is impervious to hacking or manipulation.
I do like the change of transactions and bypassing banks fees. That, I think, is a great side effect (or "competition").
- dbloc0
Ok, so I have a guy that wants to pay for a horrible logo/jingle package with bitcoins. Does this mean if the current value is $782 / 1 Bitcoin, then he owes me less than 1 bitcoin?
- twooh0
BTC, NMC, and LTC all rising. Mgox reporting all time high ~$940. May reach $1,000 by tonight.
- inteliboy0
Okay.... so is this the up and up? Or are we expecting it to drop again? It's almost impossible to predict bitcoin - unprecedented.
- CableStudios0
$1528 next Fibonacci
- CableStudios0
Worth a watch
- zaq0
- 20020
Liquidity.