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 ... 7 8 [9] 10 11 ... 13   Go Down

Author Topic: Bitcoin  (Read 62207 times)

0 Members and 1 Guest are viewing this topic.

error

  • AMP Call-In Line Provider
  • FTL Crew
  • *****
  • Offline Offline
  • Posts: 3340
  • Department of Homeland Stupidity
    • View Profile
    • Department of Homeland Stupidity
Re: Bitcoin
« Reply #120 on: June 16, 2011, 12:20:41 PM »

Ahhh, 18th century thinking in the 21st century world. I wonder what Adam Smith or Murray Rothbard would have thought of the Internet.
Logged

dalebert

  • Blasphemor
  • FTL Creative Team
  • *****
  • Offline Offline
  • Posts: 6622
    • View Profile
    • Flaming Freedom
Re: Bitcoin
« Reply #121 on: June 16, 2011, 12:59:44 PM »

The Internet has no intrinsic value.  It's just bits.

sillyperson

  • Offline Offline
  • Posts: 5196
  • Free the Mallocs!
    • View Profile
    • NH Liberty Alliance
Re: Bitcoin
« Reply #122 on: June 16, 2011, 03:53:45 PM »

The Internet has no intrinsic value.  It's just bits.
Ever been to a data farm, boy?
It's a hell of a lot of physical assets, paid for by people who want to buy services that, before computers, would have been "magic"

I see the intrinsic value here:


I see no intrinsic value in the number below, despite its fascinating mathematical qualities:
170141183460469231731687303715884105727

Level 20 Anklebiter

  • Small, but deadly
  • Offline Offline
  • Posts: 2069
    • View Profile
Re: Bitcoin
« Reply #123 on: June 16, 2011, 06:55:39 PM »

Bitcoin has a weakness: the wallets themselves. It's been discussed before by the developers that this is a big issue, so I suspect they'll either offer tools to encrypt or to store the wallets securely. Until then, I'd say steer clear of bitcoin. Also, where the hell are the big vendors at that support it? Oh wait, they don't exist, so it's not worth it as a service either. Sorry, for being a jerk about this, but lets be realistic: it's a neat exercise in a distributed monetization system, but it is not (nor ever will be) a replacement for cold hard cash (preferably the shiny yellow kind).
Logged
I hear thunder but there's no rain, this kind of thunder breaks walls and window pane

freeAgent

  • pwn*
  • FTL AMPlifier
  • *
  • Offline Offline
  • Posts: 3660
    • View Profile
Re: Bitcoin
« Reply #124 on: June 16, 2011, 11:53:21 PM »

When the value of a currency, or any asset for that matter, is changing wildly as bitcoin has been, it's a red flag...especially when it's relatively new and untested.  You can hardly consider bitcoin a medium of exchange when the value is changing so much.  It's more of an investment, and that investment is backed by nothing except the network of machines participating in the bitcoin system.  There are no physical assets, and unlike USD, there are no guns forcing anyone to accept bitcoin.  Once the value stabilizes, I'll be more comfortable using bitcoin but for now it is far too volatile.
Logged

anarchir

  • Extraordinaire
  • Offline Offline
  • Posts: 5103
  • No victim, no crime.
    • View Profile
    • Prepared Security
Re: Bitcoin
« Reply #125 on: June 17, 2011, 01:10:02 AM »

Also, in an attempt to lighten the tone on this subject -



You read to much reddit/4chan
artoftrolling.memebase.com
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]

sillyperson

  • Offline Offline
  • Posts: 5196
  • Free the Mallocs!
    • View Profile
    • NH Liberty Alliance
Re: Bitcoin
« Reply #126 on: June 17, 2011, 12:30:27 PM »

Bitcoin would be a bad idea even if it were implemented well.
Unfortunately, however....


http://it.slashdot.org/story/11/06/17/141228/Trojan-Goes-After-Bitcoins

http://it.slashdot.org/comments.pl?sid=2247736&cid=36474542
Quote
I always thought that the actual money file was encrypted, and could have an arbitrary name. You know, like a truecrypt volume file. Then I find out it's by default a text file hanging out on your computer. Fine and dandy if you have 100% control over your computer at all times, but we all know that's never the case. And judging by the passwords people use, it will be easy to brute force most passwords.

Somehow, I think bitcoin is going to flame out in a rash of digital thievery when criminals realize that it is easier to steal someone's bitcoin file than it is to mine it or even look for credit card info.

sillyperson

  • Offline Offline
  • Posts: 5196
  • Free the Mallocs!
    • View Profile
    • NH Liberty Alliance
Re: Bitcoin
« Reply #127 on: June 20, 2011, 08:02:28 AM »

http://www.schiffradio.com/
Quote
Today's guest is Donald Norman, co-founder of Bitcoin Consultancy, on why an online digital currency is the monetary system of the future. Peter is looking forward to your calls on politics, finance, and the economy.

SHOW HOURS: Weekdays, 10am-noon ET

alaric89

  • Offline Offline
  • Posts: 1842
    • View Profile
Re: Bitcoin
« Reply #128 on: June 20, 2011, 03:12:57 PM »

John Shaw

  • Global Moderator
  • *****
  • Offline Offline
  • Posts: 17244
    • View Profile
    • Think Twice Productions
Re: Bitcoin
« Reply #129 on: June 20, 2011, 03:22:11 PM »

I told you guys to buy silver. 8)

*Looks over at some silver*

Nods sagely.
Logged
"btw its not a claim. Its documented fact."

Sam Gunn (since nobody got Admiral Naismith)

  • A Cut Above The Rest
  • Offline Offline
  • Posts: 8299
  • If government is the answer, the question is stupi
    • View Profile
Re: Bitcoin
« Reply #130 on: June 20, 2011, 03:34:29 PM »

I told you guys to buy silver. 8)

*Looks over at some silver*

Nods sagely.
And I also was a doubter.
Logged
"Do not throw rocks at people with guns." —Hastings' Third Law
"Income tax returns are the most imaginative fiction being written today." —Herman Wouk 

"If you want total security, go to prison. There you're fed, clothed, given medical care and so on. The only thing lacking... is freedom." - Dwight D. Eisenhower

Turd Ferguson

  • Opportunist Extraordinaire
  • Global Moderator
  • *****
  • Offline Offline
  • Posts: 4085
    • View Profile
    • https://twitter.com/#!/realmikequick
Re: Bitcoin
« Reply #131 on: June 20, 2011, 05:43:55 PM »

http://gizmodo.com/5813039/theres-a-virus-that-will-steal-all-your-bitcoins :shock:
I told you guys to buy silver. 8)

See, now they cant even track the stolen bitcoins down and return them to their rightful owners because they are just floating around the inter-t00bs. I wonder, does each bitcoin have its own individually identifiable serial number or something like that? Can they cancel the stolen ones out somehow, or make new replacements for those stolen ones?................... what a mess.

Just more evidence of how much nothing the bitcoin is.
Logged
Some peoples idea of hell is having to mind their own business.

anarchir

  • Extraordinaire
  • Offline Offline
  • Posts: 5103
  • No victim, no crime.
    • View Profile
    • Prepared Security
Re: Bitcoin
« Reply #132 on: June 20, 2011, 10:02:53 PM »

http://gizmodo.com/5813039/theres-a-virus-that-will-steal-all-your-bitcoins :shock:
I told you guys to buy silver. 8)

See, now they cant even track the stolen bitcoins down and return them to their rightful owners because they are just floating around the inter-t00bs. I wonder, does each bitcoin have its own individually identifiable serial number or something like that? Can they cancel the stolen ones out somehow, or make new replacements for those stolen ones?................... what a mess.

Just more evidence of how much nothing the bitcoin is.

If they can manipulate it so much, well how can they NOT have eventual corruption.
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]

Turd Ferguson

  • Opportunist Extraordinaire
  • Global Moderator
  • *****
  • Offline Offline
  • Posts: 4085
    • View Profile
    • https://twitter.com/#!/realmikequick
Re: Bitcoin
« Reply #133 on: June 20, 2011, 10:53:27 PM »

http://gizmodo.com/5813039/theres-a-virus-that-will-steal-all-your-bitcoins :shock:
I told you guys to buy silver. 8)

See, now they cant even track the stolen bitcoins down and return them to their rightful owners because they are just floating around the inter-t00bs. I wonder, does each bitcoin have its own individually identifiable serial number or something like that? Can they cancel the stolen ones out somehow, or make new replacements for those stolen ones?................... what a mess.

Just more evidence of how much nothing the bitcoin is.

If they can manipulate it so much, well how can they NOT have eventual corruption.


yeah, I guess thats the catch isnt it.
Logged
Some peoples idea of hell is having to mind their own business.

sillyperson

  • Offline Offline
  • Posts: 5196
  • Free the Mallocs!
    • View Profile
    • NH Liberty Alliance
Re: Bitcoin
« Reply #134 on: June 21, 2011, 07:08:21 AM »

On the Peter Schiff interview the Bitcoing guy (Donald Norman) kept saying over & over that he wanted more regulation for Bitcoins.

You people using these things are going to get screwed in every possible way.
Pages: 1 ... 7 8 [9] 10 11 ... 13   Go Up
+  The Free Talk Live BBS
|-+  Free Talk Live
| |-+  General
| | |-+  Bitcoin

// ]]>

Page created in 0.052 seconds with 34 queries.