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FogHelmut posted:I still don't understand how generating an integer becomes a money. Is it like some retarded smug ironic thing "well the US dollar isn't based on anything?"
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| # ? May 26, 2012 22:33 |
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| # ? May 23, 2013 06:06 |
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Fortuitous Bumble posted:As far as I understand they're not really anonymous either since the bitcoin transactions are all traceable and they still have to be converted back to real money at some point. So even if you want to use them to deal drugs or hire a hitman or buy child porn you still have to go through the same sort of money laundering strategies you would with any other currency. Then again, I can't recall any of the big Bitcoin thieves ever getting caught, so it seems to be anonymous enough.
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| # ? May 26, 2012 22:34 |
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Akbar posted:"฿1 COIN: This is a solid brass coin. Each 1-bitcoin coin is about 1.125inch (28.6mm) in diameter (just bigger than a US quarter but smaller than a half-dollar) and weighs a quarter ounce. I like to tip with them." Not gonna lie, I want a ton of those brass bit coins in various denominations. I could use them as slammers, paperweights, monopoly money, to represent gold in a variety of RPGs, I could finally level out the drat table with one, leave them as tips after bad service. Man, there's a ton of things I can do with them. If I can get them for pennies on the dollar, I'll buy a hundred.
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| # ? May 26, 2012 22:35 |
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ymgve posted:Then again, I can't recall any of the big Bitcoin thieves ever getting caught, so it seems to be anonymous enough. I think this is more because no official law enforcement agency gives a poo poo about Bitcoins.
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| # ? May 26, 2012 22:49 |
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7thBatallion posted:Not gonna lie, I want a ton of those brass bit coins in various denominations. I could use them as slammers, paperweights, monopoly money, to represent gold in a variety of RPGs, I could finally level out the drat table with one, leave them as tips after bad service. Man, there's a ton of things I can do with them. If I can get them for pennies on the dollar, I'll buy a hundred. Put one in your butt to have the first buttcoin in existence. All future buttcoins would be e: had to fix something there. IRQ fucked around with this message at May 26, 2012 around 22:51 |
| # ? May 26, 2012 22:49 |
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If I understand correctly, a bitcoin transaction involves telling every other bitcoin user that X money has just changed hands: So won't the amount of traffic required to track transactions scale by the square of the size of the bitcoin community? i.e. if we have 1000 people who each do one trade a day, the network would need to inform 1000 members about 1000 transfers which would take one million messages. If we have a million people who each do a trade, wouldn't we be talking about 10^12 messages now? Or am I misunderstanding something? Earlier in the thread was a mention that all bitcoin owners have a database covering every bitcoin transaction. If somehow this currency took off and a billion people were using it for multiple transactions a day, would all bitcoin owners have giant terabyte-size datasets sitting on their hard drives?
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| # ? May 26, 2012 23:00 |
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You're entirely correct. It doesn't scale in its current form. That there's relatively few transactions is actually a blessing. You don't want to be around when the network becomes too large for its own good. (The database is now something like 1GB in size)
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| # ? May 26, 2012 23:04 |
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AuMaestro posted:The important part is that they are 'earning' this money not by working, but by virtue of owning something. That is infinitely preferable to these people to the point that they aren't even bothered if they aren't ultimately making a real profit. Hey man gently caress this concept of 'work', the fascists in charge and their bigotry towards a living wage is why my Mom had to get me this tricked-out SLI setup
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| # ? May 26, 2012 23:05 |
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Air is lava! posted:Bitcoins where the best thing on this forum in 2011. Did you miss the penis eating and consuming discharge threads? This is turning into a banner year I'd say.
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| # ? May 26, 2012 23:07 |
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Air is lava! posted:Bitcoins where the best thing on this forum in 2011. Really, they were the high points of July-August, although bitcoin made a bit of a comeback. The Libertopia thread tried to reach the same heights of entertainment as Malatora, but frankly there just wasn't enough insane source material for us. Still great, though.
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| # ? May 26, 2012 23:09 |
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So do you need a kickass machine to bitcoin mine or will any lovely machine do the trick? If it's as easy as running a program when nothing else is happening, I'll do it just to get some metal coins to gently caress around with.
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| # ? May 26, 2012 23:26 |
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7thBatallion posted:So do you need a kickass machine to bitcoin mine or will any lovely machine do the trick? If it's as easy as running a program when nothing else is happening, I'll do it just to get some metal coins to gently caress around with. As someone said earlier, your best chance is probably to steal someone else's.
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| # ? May 26, 2012 23:31 |
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Yeah Funyuns posted:I don't understand how he got heatstroke. I know very little about the bitmining process, and my only exposure to it was selling my 5850 for $400 in the early stages of bitcoin. Do you have to monitor the progress in order to attain delicious bitcoins? Could he not leave the room? You don't have to monitor anything, he got it while he was sleeping because the four computers he was using were in his room and the weather got warmer one night and his room heated up enough to give him heatstroke. The moral here is don't run four computers in your bedroom like an idiot.
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| # ? May 26, 2012 23:34 |
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Nessus posted:I am no bitcoinologist due to my lack of the moral fiber needed to truly understand Ron Paul's message, but I believe it became progressively harder every time someone pooped out a buttcoin. At this point last year, a reliable buttcoin output required a major rig of specially built graphics-card racks. It has probably gone down from them, but I would not expect to mill out too many internet currencies. So my Windows CE v3.1 Jornada on dial up won't do the trick? Is it a crime to steal virtual money? Will Ron Paul come to my house and beat me to death with Atlas Shrugged?
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| # ? May 26, 2012 23:35 |
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I hope the next Obsidian-made Fallout game has a Bitcap mining rig somewhere in it, preferably in with a crowd of brain-damaged ghouls
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| # ? May 26, 2012 23:40 |
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Nessus posted:I am no bitcoinologist due to my lack of the moral fiber needed to truly understand Ron Paul's message, but I believe it became progressively harder every time someone pooped out a buttcoin. At this point last year, a reliable buttcoin output required a major rig of specially built graphics-card racks. It has probably gone down from them, but I would not expect to mill out too many internet currencies. Not only that, but the system is designed to prevent inflation through artificial scarcity by distributing a fixed amount of Bitcoins between all miners over any period of time. As people devote more processor usage to mining Bitcoins, the base mining difficulty goes up, and miners then need to progressively raise their total computing power in a vicious cycle if they want to maintain their Bitcoin "income." Ironically enough, the more graphics cards that these idiots purchase for mining, the less return they get on their investments due to their soaring power bills. Zotwoz fucked around with this message at May 26, 2012 around 23:54 |
| # ? May 26, 2012 23:52 |
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I don't think that's ironic, I imagine it's seen as a feature. Early adopters got lots of 'money' easily and without difficulty and are now the ones with the lion's share; new arrivals provide largely a secondary market.
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| # ? May 27, 2012 00:08 |
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ymgve posted:Mintchip is a retarded idea that relies on no one breaking into their protected chips. You can make protected chips--for example, see the Cryptocard tokens (http://www.cryptocard.com/en/authen...-series-tokens/ and others), which embed the hardware in epoxy resin. You'll have a hell of a time separating the tiny wires and ICs out of the blob of epoxy, and if you disconnect power the keys will be wiped. I can't find any examples of the Cryptocard tokens being physically hacked; instead, security has been circumvented through social engineering. Presumably it would be a hell of a lot easier to point a gun at somebody and say, "Transfer your Canadian buttcoins to this account" than to try and dissect such hardware.
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| # ? May 27, 2012 00:12 |
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Now i find myself very curious on what happened to our friends Bruce and Ed. Bruce's twitter feed has been silent for a while now and their Only One TV site hasn't been updated in some time.
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| # ? May 27, 2012 00:21 |
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Duck_King posted:You mean this one? I love this goddamned clip. Hahahahahahahahaha jesus ONLY ONE TV ONLY ONE TV mumbling, feedback, "Try it again. Make sure you cli" THE BITCOIN SHOW "Ed?" THE BITCOIN SHOW ONLY OTHE BITCOIN SHOW "Ed?" "Ed?" "Ed?" "Are you on Skype?" "Can you hang up now and come in here?" ONLY ONE TV
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| # ? May 27, 2012 00:27 |
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The Bitcoin thread last year was really fun.gnarlyhotep posted:I think this is more because no official law enforcement agency gives a poo poo about Bitcoins. Wired posted an article earlier this month, FBI Fears Bitcoin’s Popularity with Criminals: quote:The FBI sees the anonymous Bitcoin payment network as an alarming haven for money laundering and other criminal activity — including as a tool for hackers to rip off fellow Bitcoin users.
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| # ? May 27, 2012 00:37 |
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I was thinking of updating the Bitcoin Rap but it seems like too much goofy has gone on for me to keep track of.
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| # ? May 27, 2012 00:43 |
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So what you're saying is that at the moment it is completely legal to steal buttcoins from people?
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| # ? May 27, 2012 00:46 |
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phosdex posted:Wired posted an article earlier this month, FBI Fears Bitcoin’s Popularity with Criminals: I was talking about law enforcement agencies giving a poo poo about some libertardian's buttcoins being stolen. I can understand their concern with money laundering.
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| # ? May 27, 2012 00:53 |
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7thBatallion posted:So what you're saying is that at the moment it is completely legal to steal buttcoins from people? In order for it to be a theft, it would have to legally be declared a currency. If it's declared a currency then it's subject to all sorts of wonderful laws and regulations that would basically destroy it.
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| # ? May 27, 2012 00:55 |
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God I fucking love Diablo 3 gold, it even paid for this shitty title
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ThaGrandCow posted:In order for it to be a theft, it would have to legally be declared a currency. No offense, but what the christ are you talking about.
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| # ? May 27, 2012 01:00 |
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7thBatallion posted:So what you're saying is that at the moment it is completely legal to steal buttcoins from people?
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| # ? May 27, 2012 01:00 |
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ThaGrandCow posted:In order for it to be a theft, it would have to legally be declared a currency. If it's only theft if it's legally declared a currency, I'm gonna go help myself to some TV's down at the nearest Best Buy. Or pirate every movie I can get my hands on. You can steal things digitally just the same as you could by breaking into a place. (Police have actually investigated thefts of high-value MMO items, at least in certain countries, so it's completely possible to steal digital things) Fake edit: Or am I mixing that up with the guy that got stabbed over some Lineage II items? I may be confused. Ugly In The Morning fucked around with this message at May 27, 2012 around 01:15 |
| # ? May 27, 2012 01:10 |
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Despite all the lolbertarian crap, BitCoins are actually quite useful for purchasing things anonymously. I doubt Silk Road could exist without them, and for that alone I support their existence.
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| # ? May 27, 2012 01:15 |
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Today is the 1 year anniversary of Buttcoin.org Even though I've stopped updating it I will never forget the glory of bitcoins  This was always my favorite video http://www.youtube.com/watch?v=OjV3wdXDHDk
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| # ? May 27, 2012 01:16 |
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This may be a little off-topic, but can someone explain the difference between the free-market, Bitcoin-run libertarian paradise and a war torn African nation? I mean both have little to no government support, businesses of all types can settle in without much consequence, and most disputes - whether food-related, property related, or money related - are dealt with amongst the tribes/communities without much government interference. I mean it sounds about the same, right? You better bootstrap yourself to success, Motombo, or else your gonna' end up dead either by bullet, disease, or starvation. The free market wills it.
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| # ? May 27, 2012 01:18 |
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gnarlyhotep posted:I think this is more because no official law enforcement agency gives a poo poo about Bitcoins. What kind of bitcoin user would stoop to asking the nanny state to help him recover his stolen bitcoins?
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| # ? May 27, 2012 01:19 |
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Ashenai posted:No offense, but what the christ are you talking about. What he said is dumb but do you really think any police department in the world is going to care that someone stole your WoW gold?
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| # ? May 27, 2012 01:21 |
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Vienna Circlejerk posted:What kind of bitcoin user would stoop to asking the nanny state to help him recover his stolen bitcoins? What you said is clever but I know you're trying to trick me. They don't have to ask the nanny state for help when they have the BITCOIN POLICE!
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| # ? May 27, 2012 01:24 |
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Duck_King posted:You mean this one? I love this goddamned clip. For some reason all of the bitcoin show episodes are still up on their website. Here's the absolute trainwreck of an episode where we convinced Bruce to bring Atom and Atlas on as guests: http://onlyonetv.com/2011/06/the-bi...ow-episode-015/ I couldn't find the picture of the time we caused Bruce's phone to vibrate off his chair, though. Truly our greatest moment.
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| # ? May 27, 2012 01:25 |
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Stealing a high value online item is at least kind of a theft - you can go, OK, it's like if someone stole the computer disk of your business records. Bitcoin is just e-money fun bucks. They'd have to demonstrate it was an actual thing. Nunez posted:This may be a little off-topic, but can someone explain the difference between the free-market, Bitcoin-run libertarian paradise and a war torn African nation?
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| # ? May 27, 2012 01:25 |
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Bitcoins are the nerd's version of bearer bonds.
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| # ? May 27, 2012 01:27 |
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IRQ posted:What he said is dumb but do you really think any police department in the world is going to care that someone stole your WoW gold? Civil suits will still get the job done, if you're willing to put in a little leg work. quote:I mean both have little to no government support, businesses of all types can settle in without much consequence, and most disputes - whether food-related, property related, or money related - are dealt with amongst the tribes/communities without much government interference. I can see why some people may prefer that, not sure why that's a bad thing.
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| # ? May 27, 2012 01:28 |
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Good Citizen posted:I couldn't find the picture of the time we caused Bruce's phone to vibrate off his chair, though. Truly our greatest moment. Cosbycoin will ALWAYS be the greatest moment. When's the next bitcoin conference anyways?
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| # ? May 27, 2012 01:30 |
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| # ? May 23, 2013 06:06 |
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Traxxus posted:I can see why some people may prefer that, not sure why that's a bad thing. And are willing to do whatever is necessary to stay in a community.
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| # ? May 27, 2012 01:32 |
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