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old Re: Bitcoin will fall

DannyDeth
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It is money. I might have someone willing to buy all my points for a few euros. Everything is money, remember that money is simply used as a substitute for other items in trading. It simply makes it more convenient.

old Re: Bitcoin will fall

palomino
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Just that the whole USD to euro to USD thing makes sense because all of that is usable. While USD to bitcoin is currency to a virtual commodity that leads nowhere at all. Except silkroad.
@user oxytamine: Seriously, Nick, you've bought lots of them at $200, didn't you.

old Re: Bitcoin will fall

Uglynator
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user palomino has written
Bitcoins are accepted in 0 countries.


Technicalls, Bitcoins are accepted in every country with a working internet connection. You can buy stuff on the internet, you know.

old Re: Bitcoin will fall

palomino
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user Uglynator has written
user palomino has written
Bitcoins are accepted in 0 countries.


Technicalls, Bitcoins are accepted in every country with a working internet connection. You can buy stuff on the internet, you know.

Amazon accepts bitcoins? Didn't know that. In all seriousness, does it?

old Re: Bitcoin will fall

DannyDeth
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It accepts USD, which can be converted from Bitcoins. Therefore, they accept bitcoins. You arrest the criminal mastermind as well as the guys that pulled off the heist, indirect connections are still connections.

old Re: Bitcoin will fall

DannyDeth
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Unless I have a misunderstanding of the word, no, it is not. It is factual information that you seem to miss.

old Re: Bitcoin will fall

oxytamine
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user palomino has written
@user oxytamine: Seriously, Nick, you've bought lots of them at $200, didn't you.

No, dude, I don't have any bitcoins. I just know that such system can never fall, at least in the closest future.

old Re: Bitcoin will fall

palomino
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@user oxytamine: It doesn't stand on anything. It isn't even a currency unless you're buying drugs, it's like a little token you're investing in, like gold. Just that gold is very real. While bitcoins are a virtual commodity. If you say that they can be sold for dollars, so can shares. You still can't buy things with shares, stocks, whatever.
Sorry about the 4chan comment though, thought you were Factis.

old Re: Bitcoin will fall

KimKat
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I'm assuming that the BTC will fall aswell. Although I do have a assumption that the currency value will be on the rise in some time period after the currency drops in value which in some cases leads to inflation, when the money has no value anymore. I hope that doesn't happen, then this idea would be for nothing. Which it doesn't seem to be ment for in the first place. In the Netherlands and the USA especially the currency is kind of worth alot, I've done some research on that. In Sweden for example it's pretty much equally worth, but the bitcoin currency is slightly above by 100 pennies or (ören) more.

I heard on the news that Cyprus has placed a ATM that's ment for exchange of Bitcoins or Euroes. In closer speculation it sounds very unrealistic but it's no doubt a fun idea. If you've seen the Wiki about this currency you will laugh I'm sure. It's a cryptographic currency that simply relies on good hardware, if you don't got that hardware it'll be really difficult to earn bitcoins. So the people who can draw benefit from this new currency and this new way of making bitcoins that they can later exchange for money legally. There's really just people with good computer specs who will be the real winners in this case, that's kind of low in my opinion but I guess it's kind of fair. Because that makes it difficult to make money, but those who have got the hardware for it really would've deserved to bitcoin mine profit since they've invested in hardware which in Sweden for instance costs a fortune really. Judging from it that way it seems quite fair in a way, it damages or slows their GPU prior to usage and the bitcoin miners earn their bitcoins as they progress on mining blocks and afterwards they would be able to exchange the BTC in Steam for games and such things.

I personally don't recommend anyone to try bitcoin mining on computers with low specs, I'm recommending you that. I personally don't mine because my specs are in the middle (Intel CORE i5 vPro) but it's not as good as a computer with i7 or greater. I have no proper GPU which is compatible with the bitcoin mining applications that come with bitcoin. But I admire the idea of having a new currency that relies on computational power and good hardware for the most part. That's just how I look at it, but this opens alot of doors to people who really want to make some money. It takes time though, so have patience if you are a bitcoin miner. I'm for this currency if it does any good, if it fails I don't have any words to say.

old Re: Bitcoin will fall

panteraxox
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user palomino has written
user panteraxox has written
capitalism at its best.

Capitalism = free market. Not gambling with imaginary stuff. Educate yourself.


i feel sorry for ur ignorance. Currency trading is pretty much gambling. the more information u know about the deck (an unpredictable market) the more probability you have for profit. You lay in your couch behind ur pc all day smoking pot thinking how good it is to live in a "free" market while people in Africa are starving because of agricultural subsidies of global corporations and billions of people across the 3rd world countries work day just to export everything to the 1st world. There is nothing "free" about capitalism at all. its taking what you can and fucking everybody else over because at the end of the day.. nobody really gives a shit.

user KimKat has written
I personally don't recommend anyone to try bitcoin mining on computers with low specs, I'm recommending you that. I personally don't mine because my specs are in the middle (Intel CORE i5 vPro) but it's not as good as a computer with i7 or greater. I have no proper GPU which is compatible with the bitcoin mining applications that come with bitcoin. But I admire the idea of having a new currency that relies on computational power and good hardware for the most part. That's just how I look at it, but this opens alot of doors to people who really want to make some money. It takes time though, so have patience if you are a bitcoin miner. I'm for this currency if it does any good, if it fails I don't have any words to say.


lol, your gonna need alot more then a crappy core i5 with integrated graphics to mine out the potential power supply expenses.

also bitcoin just dropped $200 in 2 days.
edited 1×, last 12.04.13 09:29:07 am

old Re: Bitcoin will fall

palomino
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@user Uglynator: Subsidies and monopolies are against the principles of free market. The fact that those exist means there is no capitalism yet.

old Re: Bitcoin will fall

DannyDeth
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user palomino has written
@user DannyDeth: According to that logic bread is as much a currency as USD is.


It is. Currency does not exist, it is just made up. We give value to the things we want to. FFS it's basic thinking. It was invented so that a chicken farmer can trade his eggs for something that will be of value to everyone. It is just another item.

old Re: Bitcoin will fall

palomino
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@user DannyDeth: Just that now a "currency" is a very real thing.

Bitcoins are like stocks. People invest in them. And just like in the US during the 20's, when a lot of people start to sell stocks their value decreases. The same is with bitcoins. FFS it's basic thinking.
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