Bitcoin
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- yurimon0
in the torrent community they say bitcoins are anonymous. I'm trying to figure out how is it anonymous to use bitcoins?
example to use with a proxy service.
like this one, https://airvpn.org/
- ukit20
How to Buy Bitcoins Anonymously
- scarabin0
actually, i just found out silk road "tumbles" your money while it's in escrow, before your funds are released to a seller– adding a bunch of fake transactions to the coin so the transaction can't be linked to you.
- section_0140
Someone at our company (on Windows) got a virus today that setup bitcoin mining on the machine. Apparently it was a whore to remove.
- Hombre_Lobo0
Can someone please explain this bitcoin business?
I've no idea about it :/Like, usually with the gold standard, in the old days, currency represented a percentage of a physical asset like gold or silver etc. How does bitcoin have any genuine value?
- scarabin0
like gold, it's got rarity built-in. only so many are created at a time, and that amount halves every four years until the year 2140, when no more will be produced
(there will be 21,000,000 btc in circulation at that point)
- There was a time when people thought using paper as money was crazy because it had no valueyurimon
- It still has no value and inflation is an invisible tax. Its an abstraction of energy and time of your laboryurimon
- so is gold, which is only valuable because there's only so much of itscarabin
- it's value also lies in its utilityscarabin
- scarabin0
you can get a fake identity (social security and passport documents, credit cards also available)...
get hopped up on drugs...
and go on a shooting rampage
... just another day on the dark web
- Hombre_Lobo0
Thanks scara!
but it has no intrinsic value? How is its value... For lack of a better word... Enforced?Is it just accepted that it has value? And people agree to it?
- "And people agree to it?"
Yep.sikma - honestly i don't know shit about economics..l, i just know it works and if everyone believes it works, it worksscarabin
- i do know that nobody would be buying all this illegal shit with actual dollars because it's so traceable... bitcoins are super easy to launder so they're valuable in that regard at the very leastscarabin
- easy to launder so they're valuable in that regard at the very leastscarabin
- still an element of trust involved.yurimon
- "And people agree to it?"
- ukit20
http://p2pfoundation.net/bitcoin…
Satoshi writes:
"It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust.
The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.A generation ago, multi-user time-sharing computer systems had a similar problem. Before strong encryption, users had to rely on password protection to secure their files, placing trust in the system administrator to keep their information private. Privacy could always be overridden by the admin based on his judgment call weighing the principle of privacy against other concerns, or at the behest of his superiors. Then strong encryption became available to the masses, and trust was no longer required. Data could be secured in a way that was physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter what.
It’s time we had the same thing for money. With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.
One of the fundamental building blocks for such a system is digital signatures. A digital coin contains the public key of its owner. To transfer it, the owner signs the coin together with the public key of the next owner. Anyone can check the signatures to verify the chain of ownership. It works well to secure ownership, but leaves one big problem unsolved: double-spending. Any owner could try to re-spend an already spent coin by signing it again to another owner. The usual solution is for a trusted company with a central database to check for double-spending, but that just gets back to the trust model. In its central position, the company can override the users, and the fees needed to support the company make micropayments impractical.
Bitcoin’s solution is to use a peer-to-peer network to check for double-spending. In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. It takes advantage of the nature of information being easy to spread but hard to stifle. For details on how it works, see the design paper here at http://www.bitcoin.org/bitcoin.p….
The result is a distributed system with no single point of failure. Users hold the crypto keys to their own money and transact directly with each other, with the help of the P2P network to check for double-spending."
- ukit20
Hmmm...whats this all about
- yurimon0
Liberty Reserve Shut Down For Money Laundering
Not so much Liberty going on lately.
- ukit20
Feds in NY charge 7 in $6B digital currency money-laundering case
- yurimon0
Not So Anonymous: Bitcoin Exchange Mt. Gox Tightens Identity Requirement
- lvl_130
so basically anything skirting US law=get fucked.
don't own any bitcoin, but curious as to how this will all unfold. i'm assuming it will go up in flames as far as any US transaction/money trade will go on.
i guess only time will tell.
- Yup, especially if threatens control of the empire. Banking is the ultimate control system of everyoneyurimon
- albums0
First Bitcoin Baby Is Brought Into The World At California Clinic
http://elitedaily.com/news/world…
- McGurk0
You can't just challenge the entire macro economic system and expect that it will go un-noticed or un-taxed. It's childish to think that there could ever be a new standard of currency derived solely from some sociological experiment without repercussion.
Data will certainly be the currency of the future (and very likely already is), but not in this way. You wonder why governments and big business are tracking your every move? Simple... they want to know which way the fish are swimming that day, so they can cast their nets accordingly.
Every time you argue over which smart phone is better, or which OS is the best or even which super market is "coolest" to shop at, they win. They don't give a shit which one you chose, so long as collectively a higher percentage of you chose one way over the other.
The economy has been rigged since it's inception, and it will stay that way because it works. Even if by some miracle the world decides this digital "coin" is it's new banner under which to march; they will only use the same proven tactics to take them from you.
If you want to change the way the world works, then tear it to the foundation. Don't be content to just graffiti it's walls with Dickbutt...
- http://i.imgur.com/J…albums
- best ending to a somewhat serious post I've ever read.capn_ron
- adolescent and demonstrative of non-comprehension of the topic at handuuuuuu
- albums0
Beware of Bitcoin ETF: Winklevoss Plan Raises Big Questions
http://finance.yahoo.com/blogs/b…
- yurimon0
DAS Bitcoin is Recognized as “Legal Tender” in Germany