Posted on 01/21/2014 7:03:00 AM PST by Errant
I have used CoinMKT and have removed my coins from the website. The software is buggy. I tried to make allowances for the overwhelming amount of new accounts but they seem a little slow on the uptake. They are nice fellas and I hope one day they get it together. Sounds like they’re moving in the right direction.
Tom Vaughan
I am praying the Feds step in. Attempts to eliminate Bitcoin will be futile. A negative announcement will drive the price down and I will be ready.
The price will recover just as it did with the Chinese announcement. Bitcoin will Honey Badger right through because it cares not what any government thinks.
You could put 500 of the worlds most powerful supercomputers side by side and it won’t put a dent in the hashing power of the Bitcoin network.
“When the fiat-issuing governments start seeing it as a threat, they’ll do what they can to shut it down, including propaganda and sabotage.”
I believe all fiat currency issuing governments, but particularly ours and the EU, are letting it roll as a proof of concept. They would eventually prefer a digital currency that allows them to tax every transaction. When that day comes, they will jealously guard their territory.
... but that’s just my opinion.
I thought about that was well.
If bitcoin works, they could just step in with gov’t guns behind them and just take it over.
Significant step towards “no one may buy or sell without the mark”.
HaHa! I was just looking at that. If Bitcoin were bombs China would have a huge hole in the middle!
What kind of backing does bitcoin have or is it a fiat currency, too?
No problemo, I was just trying to understand where I went wrong. That's not a bad idea you have. Most mining software is geared to utilized the maximum horsepower that a CPU or GPU is capable of. It can even damage and overheat components if not properly set and for sure not allow much other processing to take place. Mining is very resource intensive.
There are Trojans that mine secretly when your away or without the owner's knowledge, so they must work something like a SETI@home application does and without consuming so many resources that the owner would suspect something was up.
A minining pool is a great idea. I'd certainly consider switching my little miner over to a FR Pool. I've never ran a pool, but there must be money/bitcoins/altcoins to be made, or there wouldn't be any Pools. It might help offset FR's equipment costs. Not sure how the owners and operators of FR feel about Bitcoin though. And its certainly understandable that they would at the very least have reservations, considering some of the controversial subjects already discussed here of course.
Maybe well see an option in the future to make donations to FR using Bitcoin, and them maybe not. lol
Good idea on the software, sorry I wasn't of more help. :)
It is a fiat currency too.
The only difference is that there is no central government manipulating it.
Thanks bro, Keep it up with the BTC stuff.
stocks and Bit coins and other investments are a very emotional issue as you have proven.
I will repeat that Bitcoin is as risky as HELL for the reasons I stated.. But our govt and others are as well.
What is amazing to me is that we perceive Bitcoin to have less risk than dollars in our govt. And it is in my opinion. It tells me there is NO Faith and credit in the dollar from many people.
My “faith and credit” was a sarcasm comment if you read the whole thing.
I am a student of history and “but this time it is different” doesn’t fly with me. If people will believe global warming, they will believe bitcoin and tulips.
Bit coin is pure speculation (lottery ticket)but it is being sold as a medium of exchange.
This is an article published by Marc Andreessen. Mr Andreessen is a technological visionary and the inventor of Netscape among other things. You would not be sitting at your computer surfing the internet without this man.
To concentrate on the price of Bitcoin or the speculation around the digital currency is to completely miss the point. Please read this article to try and wrap your mind around the paradigm shift that is taking place as we communicate. Bitcoin the protocol is in my opinion( not just mine) the greatest breakthrough in computer science history and is going to free people like nothing else has ever done. The network effect is global and when the adoption takes off it will be nothing the world has ever seen.
A lot of people have tried to dismiss Bitcoin as techie unicorn money but I attribute that attitude to ignorance. To compare this to the global warming scam is embarrassing. If you don’t understand something it’s okay to say so.
Please read Mr. Andreessen’s statement and perhaps we can talk some more.
http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/?_php=true&_type=blogs&_r=0
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