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2013-01-16 03:23 30744906 Anonymous (Bitcoin.png 530x526 165kB)
i dont understand what bitcoin is
basically someone came up with an internet currency and people just use it to buy things? whats to stop the creator or a hack from duplicating trillions of bitcoins and using them to buy things?
2 min later 30744933 Anonymous
maths and p2p verification
now back to >>>/b/
2 min later 30744935 Anonymous
Sure, it's about as open to hacking as regular currency is, but like with regular currency it's regularly checked for stuff like that.
3 min later 30744961 Anonymous
>>30744935
how do you trust the creators not to dupe there bitcoins?
5 min later 30744988 Anonymous
>>30744961
There is no 'creator' or central bitcoin authority it's decentralized, the entire network is peer2peer.
7 min later 30745010 Anonymous
I don't understand what dollar is
Basically someone came up with a paper currency and people just use it to buy things? whats to stop the creator or a thief from duplicating trillions of dollars and using them to buy things?
9 min later 30745044 Anonymous
Block chains.
https://en.bitcoin.it/wiki/Block_chain
9 min later 30745045 Anonymous
>>30744961
First of all, you don't have to because creation is decentralized.
Second of all, with a traditional currency you can't (and it's killing us).
10 min later 30745054 Anonymous
>>30745010
Exactly,
Unlike paper money it's actually impossible to counterfeit though.
11 min later 30745077 Anonymous
Is there even a reported case of BitCoin counterfeiting(not someone getting their information stolen)?
Because traditional currency is counterfeited all the time.
12 min later 30745084 Anonymous
How do I mine buttcoins?
How does it work?
12 min later 30745087 Anonymous
How do you translate buttcoins into real cash moneys?
When will they appear on the forex?
12 min later 30745096 Anonymous
>>30745077
As far as I know, nope.
13 min later 30745100 Anonymous
>>30745087
google
13 min later 30745101 Anonymous
>>30745087
>How do you translate buttcoins into real cash moneys?
Find someone willing to give you money for them.
>When will they appear on the forex?
Probably never, would be a huge threat to the US Dollar and the Euro.
13 min later 30745102 Anonymous
>>30745054
>>30745010
Paper dollars are backed by the bank and gold. what the fuck are bitcoins backed by?
13 min later 30745110 Anonymous
>>30745102
Security.
13 min later 30745112 Anonymous
Why don't you guys just use cash?
14 min later 30745132 Anonymous (1358156745846.jpg 716x702 222kB)
>>30745102
>Paper dollars are backed by the bank and gold.
>paper dollar
>backed by gold
HAHAHAHAHAHA
HAHAH
HAHAHAHAHA
AHAHA
15 min later 30745147 Anonymous
OP, transactions are made in the cloud and each bitcoin can only be spent by you once.
The only way for this not to happen is for someone to fake ALL bitcoin transactions, which is a non-trivia task.
15 min later 30745151 Anonymous
>>30745087
Lots of forex traders are actively trading bitcoin as well, Bitcoins have their own exchanges such as mtgox & and campBX.
>>30745084
Used to be with your GPU, now I wouldn't even try with the advent of ASIC mining hardware you have to go that route (butterflylabs etc.)
>>30745102
>USD backed by gold
You need a history lesson
16 min later 30745156 Anonymous
What can I actually do with Bitcoins? I never saw a place where I could pay with them.
16 min later 30745163 Anonymous
>>30745102
Drug trade. Also, paper money hasn't been backed by gold for decades.
16 min later 30745164 Anonymous
>>30745101
>huge threat
Lol. Its based exactly diddly squat
16 min later 30745165 Anonymous
>>30745156
google
16 min later 30745166 Anonymous
>>30745102
>he thinks the dollar is backed by gold
haha oh wow
16 min later 30745171 Anonymous
>>30745112
I keep mashing them into the computer, but nothing happens. Any special port I need to use?
17 min later 30745173 Anonymous
>>30745166
>It is. By a certain percentage.
17 min later 30745177 Anonymous
>>30745156
They're used to buy other bitcoins, child porn, hard drugs, illegal weapons, and hitmen.
17 min later 30745183 Anonymous
>>30745173
Go try to turn your USD in for gold, let me know how that goes.
17 min later 30745187 Anonymous
>>30745177
just like the USD
18 min later 30745198 Anonymous (image.jpg 960x720 176kB)
>>30745010
No it's far worse than that. Until 1971, all US currency was backed by gold. Then tricky Dick took the US off the gold standard. The US dollar became a fiat currency. That means, it's backed by nothing. The last 40 years have been one big experiment with valueless paper money. This experiment will end in tears.
18 min later 30745206 Anonymous
>>30745187
Right. Except bitcoins can only be used to purchase those things. So anyone who uses a bitcoin, you know they do those things.
18 min later 30745211 Anonymous
>>30745173
The gold standard is no longer used by any country.
19 min later 30745213 Anonymous
>>30745206
>Except bitcoins can only be used to purchase those things
https://en.bitcoin.it/wiki/Trade
No.
19 min later 30745215 Anonymous
>>30745156
https://en.bitcoin.it/wiki/Trade
captcha: money ialraq
20 min later 30745238 Anonymous
>>30745156
This is the real 'problem' with bitcoin. There are ebay style bitcoin websites, I believe the largest is called bitmit. but most of the market seems to be for gambling / drugs (bitcoins act as 'electronic' cash in this sense, untraceable transactions).
Right now it's mostly bitcoin 'investors' because once the systems are in place that allow easy accepting / paying with bitcoin we expect it to skyrocket. I believe bitcoin is STILL undervalued.
20 min later 30745241 Anonymous
>>30745102
> what the fuck are bitcoins backed by?
CPU cycles and their attendant costs.
20 min later 30745242 Anonymous
>>30745198
Is Bitcoin truly anonymous?
Like, if I buy 2 BTC from someone and then pay 1 BTC to someone else.. would the second transaction be in any way traceable?
22 min later 30745275 Anonymous
>>30745211
Bad news for you: There is a run on central banks. No central bank trusts the others to hold its gold on reserve. Right now, countries like Germany are desperately trying to figure out how to get their gold out of the US before someone admits that the gold was already sold to someone else. Do some reading on "bullion banks" if you don't believe me.
22 min later 30745280 Anonymous
>>30745242
You can see every transaction ever made. But accounts can't be traced to you unless you say they're yours. And you can create millions of accounts per second, offline
22 min later 30745286 Anonymous
>>30745242
Yes unless you use a mixer.
https://en.bitcoin.it/wiki/Mixing_service
23 min later 30745287 Anonymous (6221866374_22c6f48e19.jpg 500x500 113kB)
The Finn who created bitcoin is a millionaire now. He's living in Hong Kong.
23 min later 30745293 Anonymous
>>30745242
Nope. Bitcoins really are anonymous. All you need (as a bitcoin spender) is the destination address, called the bitcoin wallet.
23 min later 30745298 Anonymous (1358155188781.jpg 952x534 75kB)
>>30745275
>. Right now, countries like Germany are desperately trying to figure out how to get their gold out of the US
Goodluck.
Germany:Give us our gold back, USA
USA:No.
23 min later 30745309 Anonymous
>>30745177
This is an awesome list.
23 min later 30745310 Anonymous
>>30745287
You're a fucking idiot the creator is unkown. Satoshi Nakamato is definitely not a Finn.
23 min later 30745311 Anonymous
If my hard-drive completely dies, and I reinstall a new OS on a different one, will I lose all my bitcoins? Is my address still valid? How would I get my bitcoins back?
24 min later 30745326 Anonymous
>>30745101
>Find someone willing to give you money for them.
Why would someone pay for buttcoins?
25 min later 30745331 Anonymous
>>30745310
No one really knows who created bitcoin. This is the part of the story that makes me -- even as a bitcoin backer -- really queasy. From lexical analysis and time of posting, Satoshi is most likely a native-born resident of the UK.
25 min later 30745337 Anonymous
>>30745293
Stop spreading bullshit. It's only pseudo-anonymous because there is no identity attached to each address. But if the identity is somehow connected to the address (and if that identity is found) there is no way to ensure anonmity and untraceableness without using a mixer.
25 min later 30745339 Anonymous
>>30745326
So that he can purchase drugs, CP and so on..
26 min later 30745346 Anonymous
>>30745311
If you do a backup of your wallet, nothing is lost.
"Wallet" is kind of a misnomer, it's more of a keychain, holding the keys to your accounts
26 min later 30745357 Anonymous
>>30745198
nope.jpeg.tiff
The Gold Standard was actually dropped much earlier than that. The Bretton-Woods agreement after WW2 changed the system, so that the only country that would keep the actual 1-1 gold standard would be the U.S.A, and the other countries would free-float their currency value in referenc to the U.S Dollar. What you are describing is what happened when the USA dropped the gold standard. And they actually didn't drop it altogether, they just stopped backing *all* currency with gold. They still back a fixed percentage with gold, which is why Fort Knoxx still even exists.
27 min later 30745360 Anonymous
Could I legally get rich with bitcoins somehow? Is it worth getting into this right now?
27 min later 30745363 Anonymous
>>30745242
All payments are anonymous, but we ALL can see EVERY transaction made in Bitcoins. Check out the Bitcoin Explorer website, if you don't believe me.
So, this means we know that Bitcoins are changing hands, we just don't know who the parties involved are.
27 min later 30745376 Anonymous
>>30745337
So, I should:
1. purchase some BTC with account 1
2. create account 2
3. transfer BTC from account 1 to account 2
4. use account 2 for anonymous purchases
Is this ok or did I miss anything?
28 min later 30745380 Anonymous
>>30745363
Can you see what the transaction was for? Or just the amount?
29 min later 30745389 Anonymous
What can i buy with bitcoins? A friend mentioned you can get any type drugs somehow.
29 min later 30745399 Anonymous
>>30745360
Bitcoins, like all money, is a medium of exchange.
Let's say that hyperinflation grips America and suddenly there is a flight into any currency that might be a better store of value. The value of your Bitcoins compared to USD will go up up up.
However, maybe the whole bitcoin experiment fails to gain traction, most nodes go offline, and no one cares anymore. In this case, your Bitcoins are worth approximately nothing.
Nothing is good or bad, but thinking makes it so.
30 min later 30745414 Anonymous
>>30745399
Thank you. That makes sense.
31 min later 30745422 Anonymous
>>30745363
>we ALL can see EVERY transaction made in Bitcoins
Ok, well, I didn't expect that.
So if someone really wants to he can trace you back to account 1, as I said here >>30745376
(Assuming I bought the BTC with Paypal or something.)
So I guess I'd have to produce my own BTC for real anonymity, right?
31 min later 30745424 Anonymous
>>30745399
Wow. Very eye-opening and thought-provoking. We have to believe we can do it, because we can do it. Thank you! :)
31 min later 30745425 Anonymous (image.jpg 1024x768 168kB)
>>30745380
Take a look for yourself. Here's a random transaction plucked from the bitcoin explorer website.
31 min later 30745435 Anonymous
>>30745422
>So if someone really wants to he can trace you back to account 1,
but they can't link the account to you
31 min later 30745438 Anonymous
>>30745360
If you believe they are going to be the next big thing, just go hoard a couple thousand dollars worth and watch the exchange rate.
>>30745380
only the amount, which address sent them and which address received.
32 min later 30745441 Anonymous
>>30745346
I'm having a very hard time believing it's this easy, I've never had money come easy in my life and I'm pretty skeptical.
I just signed up today and it's taking a long time to sync all the blocks, is it really as easy as just joining a mining pool, they send bitcoins to my address, then somehow (still confused as fuck with their website) get mtGox to send cash to my bank account for bitcoins?
32 min later 30745448 Anonymous
I live in the uk. Was thinking of buying 3 btc a week. Is there a chance in 5 years time they could be worth ALOT MORE than 13GBP per BTC
33 min later 30745455 Anonymous
>>30745435
If they find the guy who sold the BTC to me, yes.
So I'm relying on some random guy's security. Not good.
33 min later 30745456 Anonymous
>>30745425
All we know is that 14cZMQk89mRYQkDEj8Rn25AnGoBi5H6uer is now 25 Bitcoins richer.
33 min later 30745460 Anonymous
>>30745422
Only the sender knows it's your account. And you typically make a new address for every transaction.
33 min later 30745464 Anonymous
Can you cut bitcoins in half? Say I want to dispose of my wallet, can I delete my coins? Or do you grind the load?
34 min later 30745470 Anonymous
Install gentoo
34 min later 30745473 Anonymous
>>30745455
Why did you give your information to that guy?
34 min later 30745482 Anonymous
>>30745455
Why do you trade with someone you don't trust? I can't see a scheme where that isn't destined to fail.
35 min later 30745490 Anonymous
>>30745482
How can you trust a total stranger on the internet?
35 min later 30745499 Anonymous
>>30745464
Bitcoins are divisible to 8 digits, so the smallest denomination is 0.00000001 BTC, or one satoshi
35 min later 30745500 Anonymous
>>30745441
1. Download all blocks.
There is no step two. You can now trade in Bitcoins.
Q: Uh, but I don't have any!
A: Make them or by them.
You really are making this faaaaaar too difficult Anon. Fuck the bit mining pools. Fuck exchanges. Find a local neckbeards who will transfer you coins for money or barter or services.
36 min later 30745501 Anonymous
>>30745376
There would still be a clear trail connecting account 1 to account 2. Remember that all transactions are public and can be openly viewed on the blockchain using an explorer like www.blockchain.info. What you have to do to truly make your coins anonymous is used a mixing service.
The www.blockchain.info wallet (which I use) has a built in anonymizer (mixing service) that charges a 1.5% fee for the labor, but gets the job done great.
36 min later 30745515 Anonymous
>>30745473
I sent him money via Paypal, for example.
>>30745482
When it comes to computer/internet security, I don't trust anyone. Why should I?
I see people getting "hacked" all the time...
36 min later 30745520 Anonymous
>>30745499
Then why aren't they called bytecoins?
37 min later 30745545 Anonymous
>>30745500
But bitcoins are useless to me, I need cash, and the only reason I'm doing this is because I want to mine for them.
No chance in hell I'm findiong "local neckbeards who will transfer coins for money or services" either.
39 min later 30745566 Anonymous
>>30745515
If you want to trade with someone, you have to trust them, no matter the currency
>>30745520
Not enough puns for bytecoin
39 min later 30745569 Anonymous
Could I start a company and pay my employees in bitcoins?
How would that work in terms of taxes?
39 min later 30745580 Anonymous
>>30745515
Never use Paypal when transacting with Bitcoin for two reasons:
>Digital currency use with Paypal is against the Paypal TOS (meaning if you get fucked, they won't help you)
>High risk of charge-back fraud
Also, when transacting with someone you don't really trust either:
>Trust your gut and don't do business with them
>If you still want to go ahead with the deal, use a Bitcoin escrow service
>Make sure they have good rep either on Bitcointalk.org, bitcoin-otc, Bitmit.net, or the Bitcoin IRC channel.
39 min later 30745581 Anonymous
Is this it?
Is this where we trash traditional currency and move on to space-age "credits"?
39 min later 30745583 Anonymous (1347603450743.jpg 1280x936 472kB)
>>30745515
I trust you and everyone on /g/.
My WAN IP is 68.44.84.44, I don't have any firewall on my OS on, and I believe port 21 is open on my router.
Hack me guys.
39 min later 30745584 Anonymous
>>30745545
get a fucking job
39 min later 30745587 Anonymous
>>30745460
You don't need to. I've used the same address again and again. Who cares? If ppl see that I'm amassing a ton of BTC, they still are powerless to stop me.
40 min later 30745590 Anonymous
>>30745545
Bitcoins as of now are unprofitable.
The best way to invest would be to treat it like forex.
Everybody is selling off their FPGA and GPU rigs off. BFL and their 2nd gen ASICs will dominate the market.
40 min later 30745602 Anonymous
>>30745545
The easy money has been made, the goldrush is nearly over. The only way to potentially make easy money is to hoard bitcoin now and hope the pleb buys into them
41 min later 30745610 Anonymous
>>30745569
That's a shitload of mining to do.
Speaking of that, what if you run bitcoin miner on a supercomputer?
41 min later 30745622 Anonymous
>>30745587
Dumb. It's free and takes less than a second to generate a new address, and it could dramatically decrease your chances of getting fucked in the behind.
42 min later 30745624 Anonymous
>>30745569
Governments will probably try to outlaw Bitcoins, as they challenge legal currency laws. You could try, but you're in dangerous take-me-to-court uncharted legal territory.
42 min later 30745625 Anonymous
>>30745610
Maybe the pixar render farm, but a normal CPU intensive super-puter, I don't know.
43 min later 30745637 Anonymous
>>30745501
>What you have to do to truly make your coins anonymous is used a mixing service.
I guess that's it then.
>>30745566
>If you want to trade with someone, you have to trust them, no matter the currency
Good point. But still, acquiring BTC anonymously would be a good start.
43 min later 30745645 Anonymous
>>30745590
I don't see why this is so bad. Hoarding Bitcoins is on par with hoarding any other money, such as gold or silver.
44 min later 30745664 Anonymous
>>30745590
Yeah, shitsux. Those who got in early, minted and sat on thousands of BTC and are sitting pretty waiting for them to appreciate.
45 min later 30745682 Anonymous
My problem with bitcoins is this; what's to keep one person from owning all the bitcoins? This doesn't happen with real money.
46 min later 30745688 Anonymous
>>30745637
I would just do odd jobs or sell stuff on Bitmit.net and get paid directly in Bitcoins. You can use fake details on the site, and you don't have to deal with trading with a stranger or going to a bank to convert USD to BTC, both of which could risk your anonymity.
For bonus points, use Tor when signed in on Bitmit to protect yourself even more.
46 min later 30745689 Anonymous
>>30745310
He's a Finn. He obviously made up the name.
46 min later 30745699 Anonymous
>>30745569
If your employees and the union are ok with it, sure.
They must pay taxes of the value of what you pay them. It's hard/impossible for the government so see what you paid them (unlike bank transfers). They are probably very interested in why they seemingly work for free and have no income.
47 min later 30745709 Anonymous
>>30745689
Obviously Satoshi Nakamato's a fake name, but on what basis do you think he's Finnish?
47 min later 30745710 Anonymous
>>30745637
> acquiring BTC anonymously would be a good start
You can do this. Bitcoins are completely decentralized. All you need is someone willing to transact with you.
Visa and MasterCard are going to hate this when it becomes big.
48 min later 30745721 Anonymous
>>30745710
>Visa and MasterCard are going to hate this
they already do.
48 min later 30745727 Anonymous
Why should i even bother? I can just buy anything with regular currency, so why even use bitcoins?
49 min later 30745732 Anonymous
>>30745682
Uh, nothing. If someone can convince all other bitcoin users to send him all their money, then one user gets it all.
Do you see this happening?
49 min later 30745742 Anonymous
How long would it take to mine 1 buttcoin with my run-of-the-mill prebuilt $600 desktop?
50 min later 30745752 Anonymous
>>30745625
>mining buttcoins with the pixar render farm
my mouth is foaming at the idea
50 min later 30745755 Anonymous
>>30745727
Holy shitballs, Batman! You have a totally anonymous digital currency spendable anywhere on earth! I've been waiting since ~1993 for an Internet currency. Bitcoins are the best ones ever!
51 min later 30745763 Anonymous
>>30745583
>68.44.84.44
IP: 68.44.84.44
Decimal: 1143755820
Hostname: c-68-44-84-44.hsd1.nj.comcast.net
ISP: Comcast Cable
Organization: Comcast Cable
Country: United States
State/Region: New Jersey
City: Cape May
Latitude: 38.9834 (38° 59′ 0.24″ N)
Longitude: -74.9025 (74° 54′ 9.00″ W)
Area Code: 609
Postal Code: 08204
51 min later 30745775 Anonymous
>>30745742
Mining bitcoins is a bit like winning the lottery. To improve your odds, you throw more CPU/GPU power at it.
52 min later 30745785 Anonymous
>>30745727
Anonyminity and the ability to transfer it over the internet without paypal/credit card people freezing your account when you buy drugs or CP.
52 min later 30745790 Anonymous
>>30745742
http://www.bitcoinx.com/profit/
52 min later 30745796 Anonymous
>>30745763
>New Jersey
>2013
Yes, why move to all the great places in the world when you can move to the second-shittest place beside Detroit.
52 min later 30745797 Anonymous
drug money
52 min later 30745798 Anonymous
>>30745645
woop I forgot to include the word "mining".
Mining bitcoins is unprofitable, unless one has free electricity, and is willing to invest in >$10k+ worth of hardware, where ROI would take close to 2 years or more.
As I understand it, bitcoin is basically a true "gold standard", except bitcoins themselves don't have intrinsic value/use, but gold does (jewellery/electronics/etc.), but apart from that it's pure supply/demand and market value (i.e. true laissez faire capitalism)
53 min later 30745822 Anonymous
>>30745742
Depends on your graphics card. A good ati (which, for some reason is vastly better than an nvidia with same price), maybe 0.1 - 0.2 BTC per week. Subtract power usage and your profit margin is slim at best.
55 min later 30745844 Anonymous
>>30745822
>0.1 - 0.2 BTC per week
Are you serious? You have to mine 5 weeks to buy a gram of weed, fuck that.
55 min later 30745847 Anonymous
Huge BTC fan here with Qs:
1. Who controls the standard?
1. A. If no one controls it, how can the standard ever change or evolve or be upgraded?
55 min later 30745854 Anonymous
>>30745298
That picture is funny because Americans think it actually works like that.
56 min later 30745860 Anonymous
>>30745785
>buy drugs
So what, give them a PO box address and hope that it doesn't get confiscated?
57 min later 30745870 Anonymous
>>30745798
Exactly. Don't worry though, once the US dollar collapses followed by all the world's paper currencies, BTCs will have true competition against real money backed by gold.
58 min later 30745894 Anonymous (1347652158221.jpg 1024x768 126kB)
>>30745102
>money backed by gold
58 min later 30745898 Anonymous (image.jpg 1024x768 136kB)
ITT: Anon learns the term "opportunity costs" for the first time.
1 hours later 30745928 Anonymous
Does bitcoin mining require an internet connection? If so, how much bandwidth does it use?
1 hours later 30745929 Anonymous
>>30745844
Yeah, mining is not the primary way of getting bitcoin.
>>30745847
If you run the bitcoin program (bitcoind or bitcoin-qt), you have a small say in which transactions are accepted.
If you get an invalid transaction from a peer, you don't send it on in the network. Which transactions are considered valid depends on your version of bitcoind.
1 hours later 30745940 Anonymous
>>30745682
What I find VERY interesting is that little by little, some wallets will go lost or missing, and the coins inside them will disappear forever. Over time, the total pool of available bitcoins will decrease.
1 hours later 30745969 Anonymous
>>30745928
yes, it requires internet, but not that much.
1 hours later 30745984 Anonymous (fake gold 3.jpg 640x480 61kB)
America doesn't even have much gold left. Someone cleaned them out and made off with about 80% of it and left them with Tungsten bars with a gold coating.
1 hours later 30745991 Anonymous
>>30745969
You can't use bitcoins on an iPad. The computational power just isn't there.
1 hours later 30746014 Anonymous
>>30745984
Oh ho! A fellow Zero Hedge reader detected! Do you like Max Keiser too?
1 hours later 30746035 Anonymous
>>30745940
Bitcoin is designed to be deflationary, in order to push early userbase. That's part of what makes it so mind-bendingly dumb as a currency.
1 hours later 30746062 Anonymous
>>30745991
You can use a webwallet like blockchain.info/wallet or you can use a light-client like Electrum (Apple will not allow bitcoin clients, but Electrum runs on Android like any other python application).
1 hours later 30746073 Anonymous
this thread = COMEDY TUNGSTEN
1 hours later 30746096 Anonymous
>>30746014
Friend of mine in Hong Kong who I game with told me about this. It was in the news over there, apparently the scraped off the gold, weighed it, and then told America exactly how much real gold they were actually paid and that they can come pick up the tungsten if they want it back.
China was surprisingly cool about it.
1 hours later 30746098 Anonymous
>>30746035
Nothing's wrong with deflation. The US did amazingly well circa 1870 to 1913 in a deflationary currency.
1 hours later 30746199 Anonymous
How do I get started making bitcoins?
1 hours later 30746219 Anonymous
>>30746199
1. Download the app.
2. Enable block creation (if not on by default).
You're done!
1 hours later 30746262 Anonymous
>>30746199
>>30746219
Don't use the standard client if you just want to have a peek. It literally take about a week to start up the first time.
Use Electrum or a web wallet, much easier.
1 hours later 30746267 Anonymous
>>30746098
Except for the panics of 1873, 1884, 1890, 1893 (with unemployment rates nearly double what they hit in 2009!), 1896 with bank-to-bank 15-day rates of 125%, 1907 with a stock market crash just as intense as 2008's, and the deflation-spurred depression of 1920-1921 that saw an average 75% decline in corporate profits of the companies which even survived.
Then there's other "fun" like the massive concentration of wealth in the US that once and for all destroyed the yeoman-farmer ideal that so much of small-l libertarianism is predicated on, or the abortive attempt to corner the gold market in 1869 which temporarily spiked prices to 1950s levels.
1 hours later 30746324 Anonymous
>>30746098
Or, if you want a more modern example, look at how shit Japan's been the past 20 years. It's the best proof possible that Satoshi whatever-the-fuck is a pseudonym, no self-respecting Japanese man who's picked up any newspaper, right or left, in the past two decades would even consider trying to replicate that shit.
1 hours later 30746326 Anonymous (image.jpg 1024x664 97kB)
>>30746262
Awesome! This electrum looks really good.
1 hours later 30746330 Anonymous
>>30745171
You need a zip drive.
1 hours later 30746334 Anonymous
>>30745102
freedom
1 hours later 30746365 Anonymous
>>30746262
Well, I can leave my computer running without problem. What IS the default client?
1 hours later 30746391 Anonymous
>>30745399
Shakespeare...
really?
1 hours later 30746428 Anonymous
>>30746365
The referance client is known as bitcoind or bitcoin-qt (cli or gui, respectively). It joins the bitcoin p2p network and also keeps track of every transaction ever made (that's how it knows how much money you have).
Electrum hooks up to a slightly patched version of bitcoind, running on a public server. Everything to do with you bitcoins are still kept on your own machine, so it's not any less secure.
1 hours later 30746530 Anonymous
as an inexperienced nignog, which mining client is the best?
and their pooled network...
1 hours later 30746564 Anonymous
basically bitcoin proves the austrian school right and liberals are retards.
1 hours later 30746636 Anonymous
Wait wait, the exchange rate calculator says 1 bitcoin is equal to almost 14 USD... That can't be right
1 hours later 30746657 Anonymous
>>30746636
It's $14.48 on mtgox
1 hours later 30746722 Anonymous
>>30746657
So what is the easiest way to exchange your bitcoins for real world money? USD for example?
1 hours later 30746770 Anonymous
>>30746722
It's not really too easy, unfortunately.
Make a user on mtgox, fill in your details.
follow instructions for providing identification. They will not pay you without that.
Wait until confirmed.
Trade your bitcoin and get paid to your bank account.
2 hours later 30747376 Anonymous
how do i mine buttcoins and actually get them transfered
2 hours later 30747403 Anonymous
>>30745102
cocaine
2 hours later 30747404 Anonymous
you cant cash out buttcoins anonymously
tl;dr buttcoins are shit
2 hours later 30747520 Anonymous
>>30747376
You join a mining pool, set your payout address on the site, point your mining software at your pool, and wait
2 hours later 30747626 Anonymous
>>30747376
buttcoins are worth mining anymore since it cost more in electricity to mine the buttcoins than what the buttcoins are worth
3 hours later 30747821 Anonymous
>>30747404
you can
just find a guy on localbitcoins.com
figure out how to anonymously make the physical transaction like in a spy movie (locker at trainstation)
put on your best horsemask
meet him in a cafe and use your bitcoin-wallet on android to send him the coins
he pays with cash
...
you don't really understand how simple bitcoins actually are
3 hours later 30747830 Anonymous
>>30746722
localbitcoins.com
meet in person
ask him how he trades his coins
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