Welcome to the Free Talk Live bulletin board system!
This board is closed to new users and new posts.  Thank you to all our great mods and users over the years.  Details here.
185859 Posts in 9829 Topics by 1371 Members
Latest Member: cjt26
Home Help
+  The Free Talk Live BBS
|-+  Free Talk Live
| |-+  General
| | |-+  Bitcoin
Pages: [1] 2 3 ... 13   Go Down

Author Topic: Bitcoin  (Read 63937 times)

0 Members and 1 Guest are viewing this topic.

Lothar

  • Offline Offline
  • Posts: 255
    • View Profile
Bitcoin
« on: June 07, 2010, 04:29:16 PM »

Anarchir & John Shaw inspired me...

Bitcoin.  I think I understand it.  I'm intrigued.  Anyone use it?  Is there anyone out there who could describe it in layman's terms?
Logged

atomiccat

  • FTL AMPlifier
  • *
  • Offline Offline
  • Posts: 1142
  • Anarchy will Reign when pigs fly... Look a pig!
    • View Profile
Re: Bitcoin
« Reply #1 on: June 07, 2010, 04:49:40 PM »

http://www.bitcoin.org/faq

You let them use your CPU power in exchange for bitcoins? then buy stuff with them from merchants I guess

or buy them

"Our maximum exchange per request is currently 2500 BTC or $10 LR USD

Our minimum exchange per request is currently 250 BTC or $1 LR USD"

only services available are Money exchange services and web hosting pretty much, and 1 game

http://www.bitcoin.org/trade

anarchir

  • Extraordinaire
  • Offline Offline
  • Posts: 5103
  • No victim, no crime.
    • View Profile
    • Prepared Security
Re: Bitcoin
« Reply #2 on: June 07, 2010, 04:58:51 PM »

This interesting. I'm not sure how it works exactly upon scanning but I'll have a look at it later (gotta head to work :P).
Logged
Good people disobey bad laws.
PreparedSecurity.com - Modern security and preparedness for the 21st century.
 [img width= height= alt=Prepared Security]http://www.prepareddesign.com/uploads/4/4/3/6/4436847/1636340_orig.png[/img]

alaric89

  • Guest
Re: Bitcoin
« Reply #3 on: June 07, 2010, 05:06:10 PM »

Is this a way of rewarding the more productive on the internet, while encouraging productive internet use in others by using information and bandwidth as "currency"?
Logged

Terror Australis

  • Bitcoin Evangelist
  • FTL AMPlifier
  • *
  • Offline Offline
  • Posts: 1181
  • People cannot be coerced into freedom.
    • View Profile
    • Bitcoin
Re: Bitcoin
« Reply #4 on: June 08, 2010, 02:44:08 AM »

Anarchir & John Shaw inspired me...

Bitcoin.  I think I understand it.  I'm intrigued.  Anyone use it?  Is there anyone out there who could describe it in layman's terms?

It is a currency that governments can't control.Instead of a monetary system based on a central bank swindle it is distributed across peer to peer networks as "nodes".If you have ever heard of TOR (the onion router) it makes it impossible for the feds to track transactions.It uses pgp encryption to manage the transaction http://www.pgpi.org/doc/pgpintro/ .If this takes off the state will lose control of the monetary system,unless they stop all electricity generation and make us live in caves.

« Last Edit: June 08, 2010, 02:51:47 AM by Terror Australis »
Logged
User generated content + bitcoin = http://witcoin.com

anarchir

  • Extraordinaire
  • Offline Offline
  • Posts: 5103
  • No victim, no crime.
    • View Profile
    • Prepared Security
Re: Bitcoin
« Reply #5 on: June 08, 2010, 02:49:56 AM »

Anarchir & John Shaw inspired me...

Bitcoin.  I think I understand it.  I'm intrigued.  Anyone use it?  Is there anyone out there who could describe it in layman's terms?

It is a currency that governments can't control.Instead of a monetary system based on a central bank swindle it is distributed across peer to peer networks as "nodes".If you have ever heard of TOR (the onion router) it makes it impossible for the feds to track transactions.



Explain further please...
Logged
Good people disobey bad laws.
PreparedSecurity.com - Modern security and preparedness for the 21st century.
 [img width= height= alt=Prepared Security]http://www.prepareddesign.com/uploads/4/4/3/6/4436847/1636340_orig.png[/img]

Terror Australis

  • Bitcoin Evangelist
  • FTL AMPlifier
  • *
  • Offline Offline
  • Posts: 1181
  • People cannot be coerced into freedom.
    • View Profile
    • Bitcoin
Re: Bitcoin
« Reply #6 on: June 08, 2010, 02:52:51 AM »

Anarchir & John Shaw inspired me...

Bitcoin.  I think I understand it.  I'm intrigued.  Anyone use it?  Is there anyone out there who could describe it in layman's terms?

It is a currency that governments can't control.Instead of a monetary system based on a central bank swindle it is distributed across peer to peer networks as "nodes".If you have ever heard of TOR (the onion router) it makes it impossible for the feds to track transactions.



Explain further please...
sorry i was modifying what i wrote.
It is a currency that governments can't control.Instead of a monetary system based on a central bank swindle it is distributed across peer to peer networks as "nodes".If you have ever heard of TOR (the onion router) it makes it impossible for the feds to track transactions.It uses pgp encryption to manage the transaction http://www.pgpi.org/doc/pgpintro/  .If this takes off the state will lose control of the monetary system,unless they stop all electricity generation and make us live in caves.
Logged
User generated content + bitcoin = http://witcoin.com

Terror Australis

  • Bitcoin Evangelist
  • FTL AMPlifier
  • *
  • Offline Offline
  • Posts: 1181
  • People cannot be coerced into freedom.
    • View Profile
    • Bitcoin
Re: Bitcoin
« Reply #7 on: June 08, 2010, 02:56:50 AM »

Think of it like this.....the current money supply is printed at the federal reserve and sent out to banks.Under bitcoin every bank now has its own printing press.....making it impossible for the federal reserve to corner the production.It is open source money supply and therefore stealing your money through inflation is impossible.
« Last Edit: June 08, 2010, 02:59:21 AM by Terror Australis »
Logged
User generated content + bitcoin = http://witcoin.com

davann

  • Guest
Re: Bitcoin
« Reply #8 on: June 08, 2010, 01:20:48 PM »

Think of it like this.....the current money supply is printed at the federal reserve and sent out to banks.Under bitcoin every bank now has its own printing press.....making it impossible for the federal reserve to corner the production.It is open source money supply and therefore stealing your money through inflation is impossible.

I don't get it. How is currency created? As in, how do I earn bitcoins? Also, what can I use earned bitcoins for? What is available for purchase. From what I understand, money requires a nearly universal acceptance of it value to be classified as currency. Screwing the current system seems kinda like putting the cart before the horse.
Logged

atomiccat

  • FTL AMPlifier
  • *
  • Offline Offline
  • Posts: 1142
  • Anarchy will Reign when pigs fly... Look a pig!
    • View Profile
Re: Bitcoin
« Reply #9 on: June 08, 2010, 04:48:59 PM »

you can buy Bitcoins with USD or Generate coins by letting them use your PC processing power, in which you get very very lttle bitcoins this way, so the bitcoins are based on CPU cycles I guess, and there are a few places that accept bitcoins but not many, if people in Keene started using it to transfer money around and buy and sell it might be useful, and people Using TOR use bitcoins to buy and sell illegal items.

And if you believe bit coins is a good idea it could be a alternative way of protecting against inflation

Lothar

  • Offline Offline
  • Posts: 255
    • View Profile
Re: Bitcoin
« Reply #10 on: February 13, 2011, 10:59:11 AM »

I've intended to look into this further since I first heard about it... until I noticed this http://www.freetalklive.com/content/bitcoin_now_worth_more_us_dollar.  So now, finally, I decided to at least download the client, and start selling cycles.  I left my computer/bitcoin running overnight wondering if I'd wake up and see .01, or more, Bitcoin balance.  Still 0, at this point.  Anyone have any experience w/Bitcoin to share?

A while ago I saw a schedule describing how Bitcoins would be released into the market.  Perhaps this is one of the points after the current batch have been generated, and before the next batch begins?
« Last Edit: February 13, 2011, 12:31:12 PM by Lothar »
Logged

Turd Ferguson

  • Opportunist Extraordinaire
  • Global Moderator
  • *****
  • Offline Offline
  • Posts: 4085
    • View Profile
    • https://twitter.com/#!/realmikequick
Re: Bitcoin
« Reply #11 on: February 13, 2011, 02:32:31 PM »

Yeah, I tried it just for giggles. Left it running for almost 2 days just to see how much it generated. Not a single cent yet.

At that rate, you might get 25 cents by the year 2020..............sweet!!!
Logged
Some peoples idea of hell is having to mind their own business.

Riddler

  • Guest
Re: Bitcoin
« Reply #12 on: February 13, 2011, 02:46:57 PM »

nigga takes cash

take the rest of your shit to the curb
Logged

Turd Ferguson

  • Opportunist Extraordinaire
  • Global Moderator
  • *****
  • Offline Offline
  • Posts: 4085
    • View Profile
    • https://twitter.com/#!/realmikequick
Re: Bitcoin
« Reply #13 on: February 13, 2011, 03:03:50 PM »

nigga takes cash

take the rest of your shit to the curb

Oh come on gringo!! I trade you my seester!!!
Logged
Some peoples idea of hell is having to mind their own business.

Lothar

  • Offline Offline
  • Posts: 255
    • View Profile
Re: Bitcoin
« Reply #14 on: February 13, 2011, 03:40:53 PM »

I just had a conversation with someone about any/all encryption in general.  The basic point was this; don't believe that anything is private, or secure.  US military, and therefore likely other intel agencies, have the ability to crack anything, and "in not much time", too.
« Last Edit: February 13, 2011, 03:42:31 PM by Lothar »
Logged
Pages: [1] 2 3 ... 13   Go Up
+  The Free Talk Live BBS
|-+  Free Talk Live
| |-+  General
| | |-+  Bitcoin

// ]]>

Page created in 0.169 seconds with 32 queries.