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Fixing Double Spending: Why Bitcoin is Revolutionary
Coin Desk ^ | 18 January, 2014 | John Henderson

Posted on 01/18/2014 9:17:00 AM PST by Errant

There are many reasons to be excited about bitcoin: it could enable totally new business and technology models; it resembles the Internet in the early ‘90s in the sense that it is a network that no one owns and everyone can contribute to; it could revolutionise legal concepts of ownership; it could disrupt the payments industry; and it could even become a huge tax haven. It could also flop.

(Excerpt) Read more at coindesk.com ...


TOPICS:
KEYWORDS: 51; advertizement; bitcoin; bsartcle; bsarticle; crypto; propaganda; protocol
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To: knarf
"algore is SO pissed ... HE thought of carbon credits first..."

Actually no it was not him...

It was the Enron goobers who came up with it first.

21 posted on 01/18/2014 11:49:01 AM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: E. Pluribus Unum

Anything the big-government/big-corporate crony-fascist complex can’t control is good.
/////////
but isn’t bitcoin controlled by the chinese?


22 posted on 01/18/2014 11:55:09 AM PST by ckilmer
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To: E. Pluribus Unum
"Anything the big-government/big-corporate crony-fascist complex can't control is good. "

But how can they tax and/or profit from it? And thus, sadly they combined to destroy it. And it was so, and the Darkness prevailed and there was much weeping and gnashing of teeth throughout the land.

23 posted on 01/18/2014 11:58:00 AM PST by I am Richard Brandon (center)
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To: nascarnation

Especially when you consider only data from about February of ‘13 to the end of October is shown.


24 posted on 01/18/2014 11:59:44 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: alloysteel

I think I’ll stick with gold and silver. :-)


25 posted on 01/18/2014 12:04:39 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Georgia Girl 2
I think I’ll stick with gold and silver. :-)

And diamonds I'd bet! ;)

26 posted on 01/18/2014 12:08:13 PM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

FYI: Bitcoin hash rate today is almost 5 times what is was just on Oct 31 as shown by the chart above.


27 posted on 01/18/2014 12:17:58 PM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

When the SHTF diamonds will not be a girls best friend. :-)


28 posted on 01/18/2014 12:24:12 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Errant
FYI: Bitcoin hash rate today is almost 5 times what is was just on Oct 31 as shown by the chart above.

WTH is a "hash rate"?

29 posted on 01/18/2014 12:35:50 PM PST by JimRed (Excise the cancer before it kills us; feed & water the Tree of Liberty! TERM LIMITS NOW & FOREVER!)
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To: JimRed

A “hash” is a term used to refer to an encrypted string. A “hash rate” is a term used in Bitcoin vernacular to quantify processing capability. It refers to the number of hashes that can be processed per second. For example, an AMD 7970 GPU (a top-end graphics card) can process about 600 SHA-256 (type of encryption) encrypted Mh/s (Mega hashes per second) while consuming about 0.3 Kwhs of electricy. Then there are ASIC processors which can now process 60 Gh/s (Giga hashes per second) using about the same amount of electricity.


30 posted on 01/18/2014 12:54:43 PM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: knarf
Why should I learn a new language to understand a fantasy ?

It's not a new language -- it's English.

Occasionally, you might want to learn some new English words, though. Things change. If you don't know the new words and the concepts they represent, you won't be able to make a sound judgement about the changes.

You may well be right about the Principal's new grading scheme; you may well be wrong about BitCoin.

31 posted on 01/18/2014 4:18:34 PM PST by BfloGuy ( Even the opponents of Socialism are dominated by socialist ideas.)
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To: Errant

Max Keiser on RT is all over this bitcoin business - he loves it - but today he was talking about some Chromcoin something or other - color-coded coins based on bitcoins - sounds suspiciously like mortgage derivatives to me - pretty soon everything’s so sliced and diced and traunched that people become unsure of what anything’s worth anymore - and we know what happened when that took over with mortgage derivatives......


32 posted on 01/18/2014 9:25:00 PM PST by Intolerant in NJ
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To: Intolerant in NJ
I don't know about Max Keiser sometimes... lol The market/exchanges seem to be doing a good job of Bitcoin price discovery. Don't worry too much about people becoming unsure due to schemes tied to Bitcoin.

There is a guy in Utah who also created a metallic coin tied to Bitcoin. He got a nasty letter from one of the government agencies and had to scale back his operation - a lot.

33 posted on 01/19/2014 8:22:13 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Intolerant in NJ
Is this what you were referring to?

Bitcoin 2.0, aka Ultra Coin: Bitcoin's Derivative Layer That Allows The Virtual To Control Real Things

34 posted on 01/19/2014 9:46:32 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

I don’t know about Max Keiser most of the time - but this was the segment I saw - like those Max was talking about, I’m still trying to get my mind around Bitcoins 1.0 - once that happens, I’ll work on understanding the derivatives - thanks for the link.....


35 posted on 01/19/2014 8:55:21 PM PST by Intolerant in NJ
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To: Errant

bookmark


36 posted on 01/20/2014 4:08:00 AM PST by Democrat_media (Obama ordered IRS to rig 2012 election and must resign)
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