Posted on 10/28/2013 8:51:48 PM PDT by Errant
The world's first Bitcoin ATM will be ready for use this week at a coffee shop in Vancouver, Canada. Created by Las Vegas based Robocoin, the new ATM in Vancouver will allow users to turn bitcoins directly into Canadian dollars, or turn Canadian dollars into bitcoins. As The Telegraph reports, the ATM first scans the user's palm to ensure security and transfers are limited to CAD$3,000 per day. Until now, the currency existed only on the web but the introduction of these ATMs brings bitcoin-as-cash usage closer.
(Excerpt) Read more at zerohedge.com ...
Do 8 BitCoins make a ByteCoin?
The U.S government will destroy bitcoin before it gets too big.
Hmmm...now WHY up in the microscopic gold-mining town of Chicken, Alaska did the stormtroopers of SEVEN FEDERAL AGENCIES descend, with long, insane claims of human smuggling and environmental disaster...?
I mean WHY REALLY??
And there you shall find your answer regarding whether or not the authorities LIKE bitcoin.
“And in that area (technology) he (Obama) seems a near-illiterate, if not a big boob.”
Not so fast! What about his health care ....
never mind. He’s a boob.
I’m pretty sure they don’t like Bitcoin. But I’m curious why you believe that has something to do with Chicken Alaska? There are lots of smalltime independent mining operations in Alaska.
If someone can create a near-inflation free currency that isn’t controlled by politicians, that’d be great and possibly suicide.
what the eff is bitcoin
Notice how Revenue grew from $1.75 Trillion in 2003 to $2.5 Trillion in 2007 after those Evil Bush Tax Rate Cuts for the Rich were implemented.
How can that be, the Libs blame those Evil Bush Tax Rate Cuts for everything?
Great point! No truth to be found in a Lib.
so, what if the government decides to task a million computers to bitcoin mining? Wouldn’t that be a simple way to destroy the system?
No, over half of the total number of bitcoins possible (22 million) have already been mined. As more are found, it takes more and more processing to find those remaining. Currently a ASCI miner with the ability to do 60 Giga Hashes a second, would need two weeks find a single bit coin. The difficulty level is going up another 21% to 471,986,837 in about 8 days.
The meaning of that totally eludes me. lol
Sorry, basically it takes a huge amount of processing power now to “mine” bitcoins. :-)
http://www.zerohedge.com/news/2013-10-28/guest-post-culture-ignorance-part-i
Thank you.
You don’t think that bitcoins will go “poof” into the ether at some point? Along with all thin-air fiat currencies, ETFs etc?
I prefer PMs, physical, in possession. Or real estate, or other physical assets.
The rest are pretty soap bubbles floating on the air, for shorter or longer times before they pop.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.