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Random Encounters => Everything Else => Topic started by: Brandonazz on June 06, 2011, 01:50:38 pm

Title: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 06, 2011, 01:50:38 pm
I'm going to assume that most of you already know about bitcoins (https://secure.wikimedia.org/wikipedia/en/wiki/Bitcoin), since they've been known around the interwebs for months, and over the last few weeks have been getting a lot of media attention (https://encrypted.google.com/search?q=bitcoins&hl=en&client=firefox-a&hs=Of3&rls=org.mozilla:en-US:official&tbm=nws&prmd=ivnsufd&ei=SRvsTdD6L6rk0QG6vezGAQ&start=0&sa=N&biw=1680&bih=894). The reason I'm starting this thread is because the value of a single bitcoin (BTC) hit $19.00 yesterday (as of when I first wrote this, now two days ago). Two months ago, each was worth about $1.00. They can be cashed out through any number of exchangers (e.g. Mt. Gox) or used to purchase stuff from a handful of sites that accept it as payment.

Bitcoins are generated in 50 BTC blocks, which are created by running "mining" utilities. These utilities serve to verify bitcoin transactions, meaning that the system is completely decentralized; the currency is regulated and managed by software. The generation of bitcoins is not infinite, though, there is a set number that cannot be passed, and as that number is approached by the generation of blocks by mining utilities, the chance of discovering a block decreases, approaching zero.

Early adopters figured out that GPUs are much more efficient at mining than CPUs. ATI cards especially excel at the task. (My card is nvidia, and mines five to ten times slower than a comparable ATI card.) As a result, there are utilities released that are fairly easy to set up and run to generate bitcoins. There are also groups or pools where many different miners contribute to finding blocks, which are split automatically among the participants according to their contribution. I'm in such a pool, and with my crappy nvidia make five to ten bitcents each day by running the utility in the background.

Bitcoins are sent and received to randomized addresses - using your bitcoin client or 'wallet,' you can generate any amount and use separate ones for each transaction. Wallets are localized to a computer. Computer dies, bitcoins gone. You can always keep them in an online account, like those on the trading sites I mentioned before.

Just generated a new receiving address:

1H5Tx8sNt4EwabCvFX3GAQkzAm8AdGdb7w

Boom. If you opened your wallet, clicked send bitcoins, put that in and an amount, I'd receive some moments later. Beside that, I would see the number of verifications slowly creep up, reaching a certain number before I can actually make use of them, to guarantee that no amount of bitcoins is played with to be counted twice.

If you want to mine bitcoins, the best way to do it is in a pool. Otherwise, anything less than a very powerful rig would take months to find a single block.

This is the one that I use: http://mining.bitcoin.cz/

1. Download the bitcoin wallet software. It is one of the files on the right side of the main page (http://www.bitcoin.org/).
2. Download GUIMiner (http://forum.bitcoin.org/?topic=3878.0). It's the only mining utility that doesn't require you to use command lines to run it, and is fairly intuitive.

Quote from: GUIminer, How to Use
Extract and instead of running "poclbm.exe" (which runs the command line version), run "guiminer.exe". If you have OpenCL set up correctly this should launch the GUI. If you get an error about OpenCL, you need to install an OpenCL package from your GPU vendor. For AMD/ATI cards you can get OpenCL here (http://developer.amd.com/gpu/AMDAPPSDK/downloads/Pages/default.aspx).

3. Sign up on a pool (slush's pool (http://mining.bitcoin.cz/)) and make a new 'worker' on your user page once you've registered and given a wallet address.
4. Change your threshold on your user page to something smaller (mine is 0.2), so that you receive more frequent dispensation.
5. Start up GUIminer and set it up like this:

(http://i262.photobucket.com/albums/ii120/Brandonazz/gui-1.png)

6. Hit "start mining." Eventually, a rate should appear in the bottom right in terms of hash/s, and your number of contributed shares will climb up on the left.
7. Check your page on the pool site to make sure you are gradually accruing bitcoins.
8. ???
9. PROFIT!!!

EDIT: No it's not some kind of stupid scam or plot or shady scheme. It's a bit of code invented by a nerd that's a super cool digital currency. <_<
Title: Re: Bitcoin Information & How-To Guide
Post by: Luminar on June 06, 2011, 02:06:02 pm
Not (http://en.wikipedia.org/wiki/Beenz) worth (http://en.wikipedia.org/wiki/Flooz.com) it. (http://en.wikipedia.org/wiki/InternetCash.com)
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 06, 2011, 02:07:21 pm
Bitcoin isn't a company. Nobody runs it.

I doubt you even read the post.
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on June 06, 2011, 02:11:00 pm
Yeah, this is more like an experiment in online economics. I don't see anything wrong with it.
Title: Re: Bitcoin Information & How-To Guide
Post by: munchkin5 on June 06, 2011, 02:25:59 pm
Got mine set up, it's almost like money for nothing.
Title: Re: Bitcoin Information & How-To Guide
Post by: Person21 on June 06, 2011, 02:26:45 pm
Other than the fact that the default client made my CPU run hot, and my graphics card isn't new enough to pull off mining, then there's no problem with this.
Title: Re: Bitcoin Information & How-To Guide
Post by: munchkin5 on June 06, 2011, 02:28:27 pm
It looks like there's no point in mining with your CPU anyway, too slow.

Also, does anyone know if there's a place you can exchange this stuff for sterling?
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 06, 2011, 02:28:58 pm
Sterling like... silver?
Title: Re: Bitcoin Information & How-To Guide
Post by: munchkin5 on June 06, 2011, 02:30:50 pm
Pounds sterling, i.e british money.

Doesn't matter anyway, i found one already.
Title: Re: Bitcoin Information & How-To Guide
Post by: Person21 on June 06, 2011, 02:32:37 pm
By the way, seeing as Bitcoins suddenly getting lots of media attention, can I buy anything other than drugs and money with them yet?
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on June 06, 2011, 02:33:37 pm
I think some online retailers accept them.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 06, 2011, 02:41:22 pm
I had a link to a list of such retailers in the first post, but I didn't want to help Gec contrive an excuse to move the thread again.

There's a list on the bitcoin wiki.
Title: Re: Bitcoin Information & How-To Guide
Post by: Luminar on June 06, 2011, 02:51:06 pm
It costs more on your average electricity bill than you get paid mining these things. You're better off seeing if your local council allows grants to install a wind turbine on your house to cut the bills down or something.
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on June 06, 2011, 02:55:26 pm
It strikes me that the mining is just a starup thing. once enough of these virtual dubloons are in circulation they will only allow more to be created as and when the need arises.
Title: Re: Bitcoin Information & How-To Guide
Post by: Person21 on June 06, 2011, 03:04:25 pm
It strikes me that the mining is just a starup thing. once enough of these virtual dubloons are in circulation they will only allow more to be created as and when the need arises.

Pretty sure I remember reading that they don't plan on adding more, and just relying on the fact that one bitcoin is dividable
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 06, 2011, 03:06:31 pm
Yeah. The rate of discovery of new coins decreases logarithmically as you approach 23,000,000 I think.
Title: Re: Bitcoin Information & How-To Guide
Post by: emmet on June 06, 2011, 03:15:09 pm
Anyone know where I can find OpenCL for Nvidia? I have to fill out some developer application to get it from them officially, and the miner says I need it.
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on June 06, 2011, 03:39:30 pm
Isn't the only real reason you need these is to buy drugs off the internet? (ie, The Silk Road?) (Google News it if you don't know)

Brandon...
Title: Re: Bitcoin Information & How-To Guide
Post by: emmet on June 06, 2011, 03:42:52 pm
Yeah yeah Brandon's a druggy old news.
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on June 06, 2011, 03:43:30 pm
That part was a joke.

But... really...

Thats like... their main purpose right now.
Title: Re: Bitcoin Information & How-To Guide
Post by: emmet on June 06, 2011, 03:45:13 pm
That, and sitting on them until they're worth more, apparently.

But if they catch on, they'll obviously get more popular.
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on June 06, 2011, 03:48:19 pm
That, and sitting on them until they're worth more, apparently.

But if they catch on, they'll obviously get more popular.

Then it's just a... stock that has absolutely no value in anything other than to sell?
Title: Re: Bitcoin Information & How-To Guide
Post by: /lurk on June 06, 2011, 03:53:50 pm
That, and sitting on them until they're worth more, apparently.

But if they catch on, they'll obviously get more popular.

Then it's just a... stock that has absolutely no value in anything other than to sell?

Yes.

Invest in gold or silver instead.
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on June 06, 2011, 04:06:05 pm
Gold and silver are real though...
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 06, 2011, 04:17:05 pm
And you can't mine gold and sil-

Uh.
Title: Re: Bitcoin Information & How-To Guide
Post by: Clayface on June 06, 2011, 11:37:54 pm
it ate up memory from my hard drive for some reason,
and doesn't seem my graphics card can even handle it as it says there is no device for open__
not openGL, but openXX 2 other letters, i don't remember what they are, and don't feel like trying to run the program again to see what it is
Title: Re: Bitcoin Information & How-To Guide
Post by: sgore on June 07, 2011, 12:21:02 am
That, and sitting on them until they're worth more, apparently.

But if they catch on, they'll obviously get more popular.

Then it's just a... stock that has absolutely no value in anything other than to sell?

eropS, you're not supposed to question things you see on the internet.
You are supposed to invest in them past the point of reason and then be outraged when the bubble bursts.
Title: Re: Bitcoin Information & How-To Guide
Post by: dndfreak on June 07, 2011, 12:34:59 am
It's only investing if you're losing productivity because your comp can't handle the multitasking >.>  Otherwise you've lost nothing.
Title: Re: Bitcoin Information & How-To Guide
Post by: Clayface on June 07, 2011, 01:12:05 am
except the higher energy cost
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on June 07, 2011, 07:15:11 am
And the money you used to buy the coins.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 07, 2011, 08:44:20 am
You don't have to buy any coins  ¨_¨
Title: Re: Bitcoin Information & How-To Guide
Post by: sgore on June 07, 2011, 09:11:04 am
True, but anyone who exchanges actual goods for the currency is making an investment of sorts. Not actually saying this'll lead to some kind of drastic bubble burst, but it's just something to keep in mind.
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on June 07, 2011, 10:34:59 am
You don't buy the coins.
Title: Re: Bitcoin Information & How-To Guide
Post by: Gungnir on June 07, 2011, 12:26:47 pm
When you buy things with the coins, the person you're buying the things from is buying the coins.

Beats me as to why anyone would want to buy them...but hey, whatever.
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on June 07, 2011, 12:44:13 pm
Because they might potentially have value in the future.
Title: Re: Bitcoin Information & How-To Guide
Post by: Person21 on June 07, 2011, 01:33:19 pm
And because of that, you can buy things with them now. Giving them value now.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on June 07, 2011, 02:52:11 pm
What's the exchange rate for bitcoins to tulip bulbs?
Title: Re: Bitcoin Information & How-To Guide
Post by: munchkin5 on June 07, 2011, 03:23:50 pm
About 1 BTC : 103.5 TuBu

 
Title: Re: Bitcoin Information & How-To Guide
Post by: dndfreak on June 07, 2011, 03:25:20 pm
How about for heroin?

Just curious.
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on June 07, 2011, 03:26:53 pm
Go to the silk road.

No, really.

There is an ACTUAL conversion rate for that.
Title: Re: Bitcoin Information & How-To Guide
Post by: Person21 on June 07, 2011, 03:36:46 pm
There's a conversion rate between a currency and a good?!

Really?!
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 07, 2011, 04:39:59 pm
OH. MY. GOD.

PS - Stop talking about drugs guys. It's against the rules.

EDIT: 1BTC = $23.00
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 07, 2011, 11:05:05 pm
Twenty-eight.
Title: Re: Bitcoin Information & How-To Guide
Post by: GroxGlitch on June 10, 2011, 12:31:58 pm
Uh....isn't this, I dunno, illegal or something?
I'm pretty sure this violates some form of law in some country, being able to exchange these for real money when they themselves are obtainable without spending money?
Title: Re: Bitcoin Information & How-To Guide
Post by: munchkin5 on June 10, 2011, 12:33:30 pm
That sort of thing is not illegal in any country.
Title: Re: Bitcoin Information & How-To Guide
Post by: /lurk on June 10, 2011, 12:41:04 pm
Of course it is. If you turn them into real money you're committing tax fraud at the very least.

It just doesn't break any laws that anyone cares about yet.
Title: Re: Bitcoin Information & How-To Guide
Post by: GroxGlitch on June 10, 2011, 12:41:38 pm
Yeah...
I still can't get into this...
If I used my laptops's ****ty Graphics Chipset, it'd probably explode or something.
I don't even really have a proper "video card" persay.
Title: Re: Bitcoin Information & How-To Guide
Post by: munchkin5 on June 10, 2011, 12:45:17 pm
Of course it is. If you turn them into real money you're committing tax fraud at the very least.

It just doesn't break any laws that anyone cares about yet.

Only if you don't declare your earnings.
Title: Re: Bitcoin Information & How-To Guide
Post by: emmet on June 10, 2011, 12:45:55 pm
...being able to exchange these for real money when they themselves are obtainable without spending money?

You think selling things you make is illegal?
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 11, 2011, 04:28:50 pm
Guys look!

http://bitcoincharts.com/markets/

Downward spiral of death! :D
Title: Re: Bitcoin Information & How-To Guide
Post by: sgore on June 11, 2011, 08:26:24 pm
And so then yes the bubble burst.
As the story goes.

Hope nobody invested too much in this.
Title: Re: Bitcoin Information & How-To Guide
Post by: Luminar on June 11, 2011, 08:54:07 pm
I kind of did say this right in the second post, you know...
Title: Re: Bitcoin Information & How-To Guide
Post by: martyk on June 11, 2011, 10:07:42 pm
Science clear states that the more people know about something, the less it's worth.

I am almost certain science said this.

Therefore, by this logic, the only posibilty for the lately sucesfull Bitcoin was to crash,

Powered by science!
Title: Re: Bitcoin Information & How-To Guide
Post by: MetallicDragon on June 12, 2011, 12:43:41 pm
Aaannd the price bounced back up to double what it was yesterday.
Title: Re: Bitcoin Information & How-To Guide
Post by: sgore on June 12, 2011, 01:00:40 pm
<.<

>.>

Does that mean there's still time for me to get in on this thing?
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 12, 2011, 03:02:57 pm
But sgore:

And so then yes the bubble burst.
As the story goes.

Hope nobody invested too much in this.

Why would you do that?
Title: Re: Bitcoin Information & How-To Guide
Post by: sgore on June 12, 2011, 04:00:38 pm
I don't know who that man is. I don't know what you are talking about. It is all lies.

Until this thing goes sour again. Then, yes, that is me.

(...In all seriousness I still think this is a bit of a bad idea for the long term. The currency is only worth as much in real money/goods as people are willing to exchange for it, and if enough people exchange a lot of real life goods for bitcoins, when the value of said coins goes down, I'm still concerned it's an investment that'll end up burning them badly. In the meantime, if you want to go about getting them via the free methods already mentioned, there's relatively little harm in that.)
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 12, 2011, 09:29:01 pm
$23!

Ride the rollercoaster, folks.
Title: Re: Bitcoin Information & How-To Guide
Post by: PatMan33 on June 15, 2011, 10:22:51 am
Watermelon Coffee (http://arstechnica.com/tech-policy/news/2011/06/bitcoin-the-decentralized-virtual-currencyrisky-currency-500000-bitcoin-heist-raises-questions.ars)

Looks like Bitcoin got jacked up.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 15, 2011, 11:28:22 am
I wonder how that happened.

And I want to know how to do it.
Title: Re: Bitcoin Information & How-To Guide
Post by: emmet on June 15, 2011, 11:31:25 am
Panic! Panic!

Sell sell sell!
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 15, 2011, 11:46:05 am
Actually it's barely moved for a couple of days now.
Title: Re: Bitcoin Information & How-To Guide
Post by: PatMan33 on June 17, 2011, 10:21:10 am
More good news! (http://arstechnica.com/security/news/2011/06/new-malware-steals-your-bitcoin.ars)

Not.
Title: Re: Bitcoin Information & How-To Guide
Post by: PatMan33 on June 19, 2011, 11:19:03 pm
Guess what? (http://arstechnica.com/tech-policy/news/2011/06/bitcoin-price-plummets-on-compromised-exchange.ars)

I guess the first big test of a currency aside from early adoption is overcoming the flood of scammers that crop up once the ball gets rolling a bit.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on June 20, 2011, 02:03:43 pm
Yeah, thankfully the site locked up for a while and rolled back all of the transactions.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on December 05, 2013, 10:38:16 pm
I TOLD YOU! I TOLD YOU ALL!

Not (http://en.wikipedia.org/wiki/Beenz) worth (http://en.wikipedia.org/wiki/Flooz.com) it. (http://en.wikipedia.org/wiki/InternetCash.com)
That, and sitting on them until they're worth more, apparently.

But if they catch on, they'll obviously get more popular.

Then it's just a... stock that has absolutely no value in anything other than to sell?

Yes.

Invest in gold or silver instead.

ESPECIALLY YOU!

Disclaimer: I never actually said you should invest heavily in bitcoins; I merely provided you with tools and information.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on December 05, 2013, 10:47:36 pm
Totally not worth it.  Exchange rate is down to just $870.  Absolute garbage.

http://www.businessweek.com/articles/2013-12-05/bitcoins-volatility-problem-why-todays-sell-off-wont-be-the-last

http://www.pbs.org/newshour/businessdesk/2013/12/its-no-bubble-why-we-should-al.html
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on December 05, 2013, 11:22:32 pm
Man if only younger me was more prudent haha
Title: Re: Bitcoin Information & How-To Guide
Post by: Gungnir on December 06, 2013, 12:34:09 am
Bitcoin and netflix. The two big missed investments that really seem to stick out to me.

Oh well. At least I didn't invest in hulu. (is hulu even public?)
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on December 06, 2013, 12:38:01 am
Hey does anyone know anyone who'd be interested in buying Blockbuster Video stock?

No reason really, just asking for a friend. >______>
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on December 06, 2013, 01:11:35 am
The last time I saw a Blockbuster, I was watching South Park.

(I can't remember the last time I saw a real one)
Title: Re: Bitcoin Information & How-To Guide
Post by: PatMan33 on December 06, 2013, 07:05:25 am
Pretty sure I mined like, five or six bitcoins.

Are they worth anything? And are they still on my account thingy?
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on December 06, 2013, 07:37:13 am
If you still have them they're only worth like 4 grand?

Pssh.
Title: Re: Bitcoin Information & How-To Guide
Post by: PatMan33 on December 06, 2013, 08:21:21 pm
Interesting...
Title: Re: Bitcoin Information & How-To Guide
Post by: emmet on December 06, 2013, 11:49:49 pm
You should still have them if you have your details, they don't go away or anything.

But don't sell now, the price is dropping a lot. At their peak this week, they were worth $1,200 apiece.
Title: Re: Bitcoin Information & How-To Guide
Post by: PatMan33 on December 07, 2013, 09:54:36 am
At their peak this week

How volatile is this market exactly?
Title: Re: Bitcoin Information & How-To Guide
Post by: emmet on December 07, 2013, 10:33:49 am
Pretty volatile!

It stayed around $1000ish for a few days.

It's rising back towards it at the moment, though.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on December 07, 2013, 03:48:27 pm
How volatile is this market exactly?

Here is the closing price of every day for the last year. The blue band is a Donchian channel (https://en.wikipedia.org/wiki/Donchian_channel), which represents the range of transaction values at that time.

(http://i.imgur.com/y3MPmKt.png)

Logarithmic scale:

(http://i.imgur.com/ignO7Iz.png)

From an article (http://bitcoinmagazine.com/6543/bitcoin-volatility-analysis/) in August.

(http://i.imgur.com/FhWsHz7.png)
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on December 07, 2013, 10:53:19 pm
So after seeing all the news stories about bitcoin recently and after bugging Brandon about it for weeks, I finally have bitcoin mining set up.  I'm not trying to actually make money on this stuff, I just wanted to have some amount of bitcoin to make it more interesting to watch the prices go nuts.  I really have no idea what I'm doing, but if this site is correct:

http://bitcoin.web-share.nl/

I may have .001 bitcoins in a few weeks.  So basically it's functioning as Cookie Clicker, but it might cough up a quarter every now and then.
Title: Re: Bitcoin Information & How-To Guide
Post by: Didero on December 08, 2013, 02:54:09 am
From what I've read (which was admittedly a few months ago) mining for bitcoins isn't really worth it, since it costs more in electricity than you can make from the mining.
Seems like a good way to turn your computer into a room heater though :P
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on December 08, 2013, 10:02:13 am
I'm not trying to make money.  I just wanted a unit of bitcoin, however small it is, to make watching the prices fluctuate wildly more interesting.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on March 03, 2014, 02:36:54 pm
So how big of a deal was that Mt. Grox crash the other day?  I saw tons of articles proclaiming it to be the end of bitcoin, but they were mostly from business or finance sources that probably want to see it fail.

And for the record, I gave up on the mining thing months ago.
Title: Re: Bitcoin Information & How-To Guide
Post by: PatMan33 on March 03, 2014, 09:03:15 pm
Montezuma has declared war!!
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on March 03, 2014, 09:27:58 pm
Magic the Gathering Online Exchange

MtGOX

Mt.GOX

Mt. Gox

Mt. Grox

It's like telephone except in real life
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on March 04, 2014, 03:07:18 am
I guess everyone is going to be backing *ugh* Dogecoin now after it got used to fund the Jamaican bobsled team.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on March 04, 2014, 03:01:20 pm
I wonder how hard it is to mine those.  Or do you dig them up?  Have a litter of Dogecoins?
Title: Re: Bitcoin Information & How-To Guide
Post by: Krakow Sam on March 04, 2014, 03:50:30 pm
Iunno, probably very similar to bitcoins.

Title: Re: Bitcoin Information & How-To Guide
Post by: emmet on March 04, 2014, 04:11:55 pm
yup, the same
Title: Re: Bitcoin Information & How-To Guide
Post by: Slinky on March 05, 2014, 10:32:11 am
Is Mt. Grox the mountain at the center of the galaxy?
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on March 05, 2014, 04:19:22 pm
I vote for the next cryptocurrency exchange to be called the Aggro Crag.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on December 11, 2017, 08:16:25 pm
WE DIDN'T LISTEN
Title: Re: Bitcoin Information & How-To Guide
Post by: Plank of Wood on December 11, 2017, 09:23:52 pm
Yeah every time bitcoin being worth a bajillion now is mentioned I think of this thread.

But the bitcoin bubble popping is inevitable. Once the vast majority of bitcoins are owned by a few investors, as the trend appears to be going, the fact that they are based on just speculation and functionally are worthless are going ruin it. Maybe that won't happen in the next few years or maybe it will and maybe we all still have time to get filthy rich off of it, but that's what is eventually going to happen.
Title: Re: Bitcoin Information & How-To Guide
Post by: sgore on December 11, 2017, 09:51:18 pm
I tried mining Dogecoin once until I released I had no idea what I was doing or what mining was or what Dogecoin was even supposed to be.

Apparently they are sending it to the moon. (http://www.dogecoinonthemoon.com/list.php)
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on December 11, 2017, 10:21:50 pm
We live in interesting times.

I agree that bitcoin's a bubble, I'm just curious what the ceiling will be.  I assumed it had peaked when it hit $1,200.  It's at what, $16,000 now?  It'll also be interesting to see what happens once it stabilizes, burst bubble or not.  I also keep hearing that the blockchain concept is useful for... something.  Not sure what, exactly.
Title: Re: Bitcoin Information & How-To Guide
Post by: Plank of Wood on December 11, 2017, 10:29:24 pm
The real power play is to short bitcoin right now and wait until 2020 when it's worth three cents.
Title: Re: Bitcoin Information & How-To Guide
Post by: martyk on December 17, 2017, 09:31:44 pm
If there's one thing I've learned is that Bitcoin will keep rising in price exponentially forever and there will be no consequences for this.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on December 18, 2017, 08:25:08 am
You just got hired by a hedge fund.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on December 18, 2017, 07:55:45 pm
Wasn't there an Ed, Edd and Eddy episode about this?  Nothing but up?
Title: Re: Bitcoin Information & How-To Guide
Post by: eropS on December 19, 2017, 09:54:18 am
Yes. That show was amazing

And i wonder if anyone got rich in those first few threads, munch seemed pretty stoked on it haha

Still have none. MAybe i should, meh
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on December 21, 2017, 07:38:45 pm
My parents let me know that there was a Big Bang Theory episode about bitcoin. Iím quite convinced now that the bubble burst is coming soon.
Title: Re: Bitcoin Information & How-To Guide
Post by: Haseri on December 21, 2017, 11:48:37 pm
Boy I hope the short nerdy one gets busted for hiring a hitman to take out the preying mantis.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on December 22, 2017, 07:46:28 am
Huh. And it looks like bitcoin is down about 30% today.
Title: Re: Bitcoin Information & How-To Guide
Post by: Plank of Wood on December 22, 2017, 10:04:19 am
LOL
Title: Re: Bitcoin Information & How-To Guide
Post by: Ultimatum on December 23, 2017, 01:12:14 pm
Wow
Title: Re: Bitcoin Information & How-To Guide
Post by: sgore on January 09, 2018, 02:03:40 pm
Everything else aside, given the extent to which serious people in the finance world are talking about Bitcoin now, I kind of wish it had a sillier name.

Pizzacoin is a thing.
https://twitter.com/thepizzacoin?lang=en

We could all be using the term Pizzacoin right now instead of Bitcoin, but here we are.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on January 10, 2018, 07:47:58 pm
Just you wait, dogecoin is making a comeback any day now.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on January 11, 2018, 05:40:51 am
Planet Money did an episode about lost bitcoins.

https://www.npr.org/sections/money/2018/01/05/576087864/episode-816-bitcoin-losers

I cri evrytim
Title: Re: Bitcoin Information & How-To Guide
Post by: sgore on January 12, 2018, 10:35:54 am
I didn't mean to but I ended up listening to that whole episode and it was actually quite informative.
Thank you Brandon!

Also, I was looking back through the thread:
Pounds sterling, i.e british money.

Doesn't matter anyway, i found one already.

I think it's worth noting, Munchkin is the only forum member who explicitly said he found a whole bitcoin back in 2011 and then he disappeared in November of that year.
I am not saying these things are related, but these things are definitely related.
Title: Re: Bitcoin Information & How-To Guide
Post by: Inkling on January 16, 2018, 08:50:34 pm
He probably used it for synthetic peyote or something years ago.
Title: Re: Bitcoin Information & How-To Guide
Post by: Brandonazz on January 20, 2018, 01:38:48 pm
Probably.