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What the **** is a bitcoin ?
show user profile  FX
I've been asked to design a case for a bitcoin mining machine...can anyone tell me what the fuck a bitcoin is ??...the more I read the less I know :/...I don't need this knowledge to make the case btw, just wish I'd never Googled it now.

Is it like a fronat?






read 818 times
9/22/2014 11:33:17 AM (last edit: 9/22/2014 11:33:17 AM)
show user profile  nemo
it is a monetary fronat.

cheers
nemo out



read 808 times
9/22/2014 11:44:12 AM (last edit: 9/22/2014 11:44:12 AM)
show user profile  BishBashRoss
At it's core, it's a decentralised ledger that uses proof of work and cryptography to solve the Byzantine generals problem and allow for trustless transfer of value.

Any clearer? ;)

Khan Academy has a good series of videos that explains it in a clear and concise way.


https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-what-is-it





read 805 times
9/22/2014 11:51:13 AM (last edit: 9/22/2014 11:51:13 AM)
show user profile  FX

Cheers Ross....I'll wait for the hangover to clear before watching those :/

I asked a few people in the bar last night, and though they knew what it was no-one could explain it, they all tried but gave up.
read 801 times
9/22/2014 12:07:26 PM (last edit: 9/22/2014 12:11:01 PM)
show user profile  BishBashRoss
Ha! Yeah, it's a lot to take in but a pretty fascinating topic if you ask me. :)





read 795 times
9/22/2014 12:15:21 PM (last edit: 9/22/2014 12:15:21 PM)
show user profile  FX
lol, yeah they all got exited about it, just couldn't put it into words, quite funny really, they ended up as confused as me after trying to explain it.

"Bitcoins? yeah they are great....ermmm it's an errrm , well it's like ...erm no....ermmmm"
read 792 times
9/22/2014 12:17:56 PM (last edit: 9/22/2014 12:21:25 PM)
show user profile  Nik Clark
Bitcoins - What I tip your mum with after a web cam show.

Can also bw used to buy stuff at some places apparently.

I prefer Dogecoin.


Click here to send me an emailClick here to visit my websiteClick here to visit my photo gallery on Flickr

read 788 times
9/22/2014 12:25:21 PM (last edit: 9/22/2014 12:25:33 PM)
show user profile  FX
You pay my mum to watch you masturbate ?....wow....I need to have words, wondered why she spends so long on the laptop. :)








read 770 times
9/22/2014 1:17:46 PM (last edit: 9/22/2014 1:17:46 PM)
show user profile  herfst1
It's the future.

Interesting story: have you heard about the dude who paid $3million in bitcoins for some pizzas? True story, was a few years ago and, as a test, he wondered if he could get someone to make a pizza and deliver it to him for 40 bitcoins. Anyway he got a fair few pizzas delivered and eventually had to stop the offer. A few years later bitcoin's stocks went through the roof and it worked out that he had equivalent spent $3 million on this test.
read 767 times
9/22/2014 1:29:32 PM (last edit: 9/22/2014 1:29:32 PM)
show user profile  FX
No but someone told me something similar about a guy who threw his old hard drives away containing his coins, then discovered they were worth a few million, and he spent a few weeks at the dump trying to find them..not sure of the outcome...nuts :)

edit: This...
http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site


read 765 times
9/22/2014 1:35:57 PM (last edit: 9/22/2014 1:37:47 PM)
show user profile  jareu



He who says it cannot be done is interrupting the man doing it.

read 759 times
9/22/2014 1:42:10 PM (last edit: 9/22/2014 1:42:10 PM)
show user profile  BishBashRoss
@ Herfst

I think it was like 10000 bitcoins. :)





read 756 times
9/22/2014 1:44:17 PM (last edit: 9/22/2014 1:44:17 PM)
show user profile  herfst1
Yeah, it's been a while since I read that story, so I'm fuzzy on the numbers, but at the time the 40 bitcoins would have been worth around $10-15US. I'm surprised he got up to 10,000 bitcoins spent, that's a hell of a lot of pizza. Then again I believe this went on for a few years before he stopped paying out.
read 752 times
9/22/2014 1:59:14 PM (last edit: 9/22/2014 1:59:14 PM)
show user profile  BishBashRoss
When it happened 10000 bitcoins was worth 25 dollars. The story kept getting repeated as the price went up and the number became more absurd.





read 749 times
9/22/2014 2:08:40 PM (last edit: 9/22/2014 2:08:40 PM)
show user profile  herfst1
Ah, okay. Bloody chinese whispers. Still...
read 746 times
9/22/2014 2:12:26 PM (last edit: 9/22/2014 2:12:45 PM)
 
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