Bitcoin / Bitcoins

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  • Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. The name also refers to the open source software he designed that uses it, and the peer-to-peer network that it forms. Unlike most currencies, bitcoin does not rely on trusting any central issuer. Bitcoin uses a distributed database spread across nodes of a peer-to-peer network to journal transactions, and uses cryptography in order to provide basic security functions, such as ensuring that bitcoins can only be spent by the person who owns them, and never more than once.
    Bitcoin's design allows for anonymous ownership and transfers of value. Bitcoins can be saved on a personal computer in the form of a wallet file or kept with a third party wallet service, and in either case Bitcoins can be sent over the Internet to anyone with a Bitcoin address. Bitcoin's peer-to-peer topology and lack of central administration make it infeasible for any authority, governmental or otherwise, to manipulate the value of bitcoins or induce inflation by producing more of them.[citation needed]
    Bitcoin is one of the first implementations of a concept called 'cryptocurrency', first described in 1998 by Wei Dai on the cypherpunk mailing list.[1][citation needed]

    http://en.wikipedia.org/wiki/Bitcoin

    http://launch.is/blog/l019-bitcoin-p2p-c­urrency-the-most-dangerous-project-weve-­ev.html

    Read. Ponder. Discuss.

  • It sounds like bullshit to me.

    If God had meant us to have cybercurrency, he wouldn't have invented The Multi-coloured Swap Shop.

  • So I should try and get a refund on my £10k of bitcoins?

  • I'll give you a Scalextric, Ker-plunk and a tug in the bushes for your bitcoins.

  • Two tugs?

  • Two tugs?

  • One tug, put I'll throw in a bum poke.

  • anyone use this? been mining for several days now

  • I wanted to try Silk Road out, but I fear I lack the internet savvy to make sure I'm properly anonymous before I start scoring kilos of fishscale from the internet.

  • lol perhaps you should keep those sort of comments out of the public domain :)

  • anyone use this? been mining for several days now

    As far as I can tell now the cost of mining exceeds the worth of the mined coins so it's a waste of time. Best bet is to try some speculative buying and hope they go up in price. I bought a couple of hundred pounds worth a while back at $8 they hit almost $15 a couple of weeks ago before coming back down again. Cash out or purchase what you need when they top out and you can end up getting stuff for free

    Also they are constantly being hacked, the exchanges are know for their poor security so whatever you do don't leave coins lying around in them. Transfer to your own secure wallet or to a place you trust not to go bust/dissapear with them

  • lol perhaps you should keep those sort of comments out of the public domain :)

    That's exactly what I mean.

  • You a right to fear your lack of internet savvy then to say you want to buy coke off a dodgy website in a public domain is pretty foolish :)

  • You a right to fear your lack of internet savvy then to say you want to buy coke off a dodgy website in a public domain is pretty foolish :)

    Coke???

    I just want some fish scales for my natural remedies.

    What are you on about?

  • so is there a good site anyone recommends to buy BC's?

  • Nope.
    Both Intersago and Mtgox had the plug pulled on them by UK banks.
    No one seems to know why Barclays stopped accepting payments for Mt Gox. I expect it is the government putting pressure on them in an attempt to crush Bitcoin

    You can still use MtGox if you are prepared to pay the fees to wire money to Tokyo or into a Polish bank account but IMO it's more hassle than it's worth :(

  • I'dguess the same as Intersango, basically SOCA are investigating them in relation to a certain ebayesque site for illicit substances

  • Ah is that what it is. Wankers

  • There are people in London who accept cash for bitcoin

  • Are they scammers?

  • AAAAAAAAAAAAAAAAAAAAGGGGGGHHHHH I have just spent ALL evening trying to buy bitcoin and I am no closer than when I started. Is there a logical easy way or should I just give up.

  • Have you installed a Wallet etc? This might help, apologies if you're past that stage and are still having problems - http://howtobuybitcoins.com/

  • ah it's cool, sorted. Bitbargain

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Bitcoin / Bitcoins

Posted by Avatar for hippy @hippy

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