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Bitcoin P2P Currency: The Most Dangerous Project We've Ever Seen

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posted on May, 19 2011 @ 03:03 PM
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can anyone recommend a co-op miner?

looks like it will take about 5 years for me to get paid anything


also, how much does 1 btc sell for?

this is interesting! wonder how long it will last?




posted on May, 19 2011 @ 06:21 PM
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reply to post by Thermo Klein
 


Bitcoin is selling right now for between 6 and 7 USD. See this site for current quotes. Bitcoin Charts

Bitcoin is really hopping right now so the complexity is increasing. That is due to a bout 35,972 downloads this week.



posted on May, 19 2011 @ 06:36 PM
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Here is a link that explains bitcoin I think fairly well....I personally still have to study more about this....so far...I don't know what to think...I am perplexed.

en.wikipedia.org...





edit on 19-5-2011 by caladonea because: correction of link

edit on 19-5-2011 by caladonea because: (no reason given)

edit on 19-5-2011 by caladonea because: having trouble with link address



posted on May, 21 2011 @ 10:11 PM
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Here is a relevant bit of cypherpunk bitcoin information from of cryptome.org: The Bitcoin Lottery

It gives more details into the process of bitcoin mining. It is relevant to the discussion because it answers the basic question; why does it take so long to mine a bitcoin?



posted on May, 22 2011 @ 12:03 AM
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So how do does one get bitcoins? No seriously, I want to run the experiment and report the results. If I cannot come out with the value in American dollars in bitcoins as when I went in, then its just a sham that is infecting suckers online, like telephone sales people used to to to old people over the phone and through the tv.



posted on May, 22 2011 @ 02:34 AM
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posted on May, 31 2011 @ 07:14 AM
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I don't know if this is the right thread for this, but has anyone thought about the possibility that bitcoin would be an extraterestrial technology that was given to human kind at this specific moment in time?

-it appeared from nowhere
-the theory is flawless
-not much is known about the inventor

Just saying..



posted on May, 31 2011 @ 07:21 AM
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The ONLY way really to BitCoin MINE now is FPGA's. GPU's do not cut it anymore at this stage.

Go buy a FPGA card or 2 and run that 10x faster than any GPU and much less power.

You are up against FPGA miners now.

If you only have 1 or 2 GPUs, it really isn't worth it anymore.

I think FPGA cards cost about 500 to 1000 GBP.
edit on 31-5-2011 by zookey because: (no reason given)



posted on May, 31 2011 @ 10:20 AM
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''A'' buys BTCs with $, because he can."B" don't have $ or BTCs but sells something for BTCs, because he also want to buy something from "C" with BTCs.
Now, "A" don't have time to play poker and gain or lose BTCs, so he will just buy any items in BTCs if the BTC price is better then the price in $.
"B" is poor, so he sells that BTC item for less then $ price, so "A" can buy it.Now "B" can buy what he wanted in BTCs from ''C".
"C" have time to play poker or do whatever he can around the net to gain BTCs.

Soooo...we have the "A" type guys who can buy BTC with $, the "B" type guys who can sell their crap for BTCs cheaper then the price that would be on $, and the "C" type that make BTCs and sell items in BTCs OR buy cheap BTC items to resell on BTCs OR $.

Also, the "B" guys, after selling their stuff for BTCs can buy another stuff for BTCs and resell them for $, because they are poor.

I have no ideea if this BTCs will become a real currency...but if they continue to atract more and more , lets say , clients, it will be inevitable that BTCs will become a currency.

Here we have your answer how someone ("B" and "C") can buy grocery.Ofc , they will use $ but those $ will be gained by selling stuff for BTCs.
Same as a EU tourist that have euros and wanna buy a hotdog in NY.He can't buy it with euros, but he can change those euros for $
edit on 31-5-2011 by Recollector because: (no reason given)



posted on Jun, 6 2011 @ 12:28 PM
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Originally posted by Recollector
Soooo...we have the "A" type guys who can buy BTC with $, the "B" type guys who can sell their crap for BTCs cheaper then the price that would be on $, and the "C" type that make BTCs and sell items in BTCs OR buy cheap BTC items to resell on BTCs OR $.


Depends on what you want to buy I suppose. The cost of anonymity makes prices slightly higher than regular.



I have no ideea if this BTCs will become a real currency...but if they continue to atract more and more , lets say , clients, it will be inevitable that BTCs will become a currency.


It's only an internet currency so its not really "real" or physical but you can sell it for dollars/gbp/yen or whatever at one of the trading sites or just "OTC" (over the counter) to another person who is willing to send you $ for your BTC.

As of writing this, the price of one bitcoin is $18.65 usd



posted on Jun, 7 2011 @ 12:27 AM
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Originally posted by dbove
I don't know if this is the right thread for this, but has anyone thought about the possibility that bitcoin would be an extraterestrial technology that was given to human kind at this specific moment in time?

-it appeared from nowhere
-the theory is flawless
-not much is known about the inventor

Just saying..


Yes I have thought of this, I mean look at the head guy in this interview. It looks like he could throw up a vulcan hand sign at any moment. (interview starts at around 7 mins)








 
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