Bitcoins - Nubblies.net Forums

f3lix · 06-05-2011, 01:37 PM

I first saw this today. It's an online P2P currency used internationally, created in 2009. There is a lengthy wikipedia entry on it and Yahoo mentioned its 200,000% increase in value since its creation.

DJ FC · 06-05-2011, 02:10 PM

I have 100.

I think there is a guy in my office with tens of thousands.

ninjaface · 06-05-2011, 02:39 PM

Quote:

Originally Posted by DJ FC

I have 100.

What do you use it for?

Would it be a suitable replacement for paypal?

DJ FC · 06-05-2011, 03:12 PM

It's more like a replacement for the dollar.

ninjaface · 06-05-2011, 03:31 PM

Can Bitcoin be used in a brick and mortar store? Or is it just meant for online use?

DJ FC · 06-05-2011, 03:33 PM

No major retailers accept them yet.

f3lix · 06-05-2011, 04:28 PM

I might want my DJI bet to be paid in bitcoins

DJ FC · 06-06-2011, 12:55 AM

We bet in dollars.

I also own bitcoinbank.com

bauer5152 · 06-17-2011, 10:10 PM

Quote:

Originally Posted by DJ FC

I have 100.

I think there is a guy in my office with tens of thousands.

I also think so.

f3lix · 06-17-2011, 10:26 PM

first

DJ FC · 06-18-2011, 05:04 AM

Let's talk more about bitcoins though. You guys should get involved.

I'm currently mining bitcoins with a friend. Together we have 4 computers with a total of 10 graphics cards pumping the shit out of bitcoins. We generate 5-10 bitcoins per day.

Mr. Blonde · 06-18-2011, 05:23 AM

^ explain that please. One can acquire bitcoins without money? What?

DJ FC · 06-18-2011, 07:28 AM

There will only ever be something like 21 million bitcoins. That numbe is fxed. But they're still being handed out, and you can aggressively try to get as many as possible.

Mr. Blonde · 06-18-2011, 08:13 AM

This is very relevant to my interests. However, i'm semi drunk and need to head out now.

I would be very appreciative if you could maybe post some links about bitcoins and tell me why I should be interested? Do you think they will have a high value in the future? I can only imagine that is the case, if you're accumulating them.

f3lix · 06-18-2011, 08:59 AM

Their value is increasing rapidly, but I don't understand much about them beyond that.

THEINCREDIBLEdork · 06-18-2011, 09:58 AM

It's a ponzi scheme.

thekremlin · 06-18-2011, 10:00 AM

Here is my understanding, which may be off in a few details, FC is much more into it than me and can probably explain it much better.

Bitcoins are a fiat currency whose transactions are completely electronic and anonymous. As of right now, there are a limited number of goods that can be purchased with bitcoins, but that shouldn't be too shocking. There are a few sites where you can purchase sex toys or drugs with bitcoins, for example. Also you may recall several months ago that paypal refused to transfer money to Julian Assange. You could have donated bitcoins to him very easily.

There is a large and high-volume market where you can buy or sell bitcoins. The price has been extremely volatile. Around six months ago, they were trading for less than a penny, in the past few weeks they have traded over $30, have recently dipped to $17.

Bitcoin Charts / Markets

Because of the anonymity, it might be attractive to criminal enterprises. For example, a drug producer might move a chunk of dollars into bitcoins... that would certainly increase the value.

Unlike every other currency in the world, there is a maximum number of bitcoins that will be allowed to exist. Like FC said, around 21 million. There are currently less than that, and you are currently able to generate, or "mine" them. Basically, the many transactions involved in maintaining the currency require a lot of computing power. So people can lend their computers to the bitcoin, whatever, master server, and their computers help process the transactions. In return, bitcoins are generated. So in the beginning, you could just leave your computer on overnight and generate some bitcoins. It has since become a little harder to do as the value of bitcoins has risen, so more people are trying to mine, and we slowly approach the limit of whatever, 21 million bitcoins. But smart people have figured out ways to build "rigs" to mine bitcoins.

If you think bitcoins are going to become a mainstream currency, then the fact that there will never be more than 21 million means the value should be considerably higher. There is a greater chance that the thing never really takes off and the value goes to 0. It really just depends on what you think the probability of the two events are. I'm not a believer from this price, but from a certain price I would be buying them, so I clearly don't think the idea is totally bunk.

Dent · 06-18-2011, 10:19 AM

Bitcoins are getting exponentially harder to mine.

If you visit the hidden wiki (using tor) you can use them to buy drugs and the like, It's meant to be harder to trace bitcoins than a real currency. FC probably has enough to hire a hitman.

Here's an online miner if anyone wants to see what it is without having to install anything, but there are other programs which utilise your graphics card better
Generate Bitcoin - Bitcoin Plus

And here's a list of companies that accept bitcoins, not sure how up to date it is
https://en.bitcoin.it/wiki/Trade

I doubt it's worth buying any new hardware to make money, seems most of the internet is a little late to the party.

also, lulz.
Miner Who Reported Brain Damage Tells All | Bitcoin Mining Accidents

THEINCREDIBLEdork · 06-18-2011, 10:59 AM

how do you access the hidden wiki? pm me if necessary.

Dent · 06-18-2011, 11:11 AM

http ://kjpjvjzj7jkjij2jvj5jajgjwjtj3j5. onion/wiki/index.php/Main_Page

use a program called TOR https://www.torproject.org/, don't head straight to the CP.
remove the j's.

DJ FC · 06-18-2011, 02:46 PM

Dent I've been trying to do this for a while and can't seem to get it to work. I have tor up and running through firefox, but still don't know how to access .onion files. Can you help?

Edit: Never mind. Hidden wiki works.

But if you can help me get into Silk Road I'd still appreciate it.

Dent · 06-18-2011, 02:57 PM

Silk Road was taken down a few days ago, if you look through the hidden wiki you'll find other dealers though.

AcTivE · 06-19-2011, 09:06 PM

When I first read this--I wasn't paying very close attention.

I read it as a PSP currency (playstation currency) ....

Yea..this is def really awesome, and I had no idea it existed. ....though, its popped up recently on other places I visit.

yea... i def have some really solid ideas 4 generating, and 'obtaining' these coins.. I'm going to go crazy w/this..

vaga1220 * · 06-19-2011, 09:12 PM

This time... This time I'm sure you'll make money!

Mr. Blonde · 06-19-2011, 10:42 PM

God dammit guys now look what you did.

06-05-2011, 01:37 PM	#1 (permalink)
f3lix Gangnam Style Join Date: Oct 2003 Location: DH's Massage Parlor Posts: 6,383 Internets: 213510	Bitcoins I first saw this today. It's an online P2P currency used internationally, created in 2009. There is a lengthy wikipedia entry on it and Yahoo mentioned its 200,000% increase in value since its creation.

06-05-2011, 02:10 PM	#2 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	I have 100. I think there is a guy in my office with tens of thousands.
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

06-05-2011, 03:12 PM	#4 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	It's more like a replacement for the dollar.
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

06-05-2011, 03:33 PM	#6 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	No major retailers accept them yet.
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

06-06-2011, 12:55 AM	#8 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	We bet in dollars. I also own bitcoinbank.com
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

06-05-2011, 03:31 PM	#5 (permalink)
ninjaface Level 20 Holothetan Join Date: Dec 2002 Location: Space Posts: 5,245 Internets: 210144	Can Bitcoin be used in a brick and mortar store? Or is it just meant for online use?

06-05-2011, 04:28 PM	#7 (permalink)
f3lix Gangnam Style Join Date: Oct 2003 Location: DH's Massage Parlor Posts: 6,383 Internets: 213510	I might want my DJI bet to be paid in bitcoins

06-17-2011, 10:26 PM	#10 (permalink)
f3lix Gangnam Style Join Date: Oct 2003 Location: DH's Massage Parlor Posts: 6,383 Internets: 213510	first

06-18-2011, 05:04 AM	#11 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	Let's talk more about bitcoins though. You guys should get involved. I'm currently mining bitcoins with a friend. Together we have 4 computers with a total of 10 graphics cards pumping the shit out of bitcoins. We generate 5-10 bitcoins per day.
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

06-18-2011, 05:23 AM	#12 (permalink)
Mr. Blonde Spice Master Join Date: Jan 2004 Posts: 17,969 Internets: 278288	^ explain that please. One can acquire bitcoins without money? What?

06-18-2011, 07:28 AM	#13 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	There will only ever be something like 21 million bitcoins. That numbe is fxed. But they're still being handed out, and you can aggressively try to get as many as possible.
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

06-18-2011, 08:13 AM	#14 (permalink)
Mr. Blonde Spice Master Join Date: Jan 2004 Posts: 17,969 Internets: 278288	This is very relevant to my interests. However, i'm semi drunk and need to head out now. I would be very appreciative if you could maybe post some links about bitcoins and tell me why I should be interested? Do you think they will have a high value in the future? I can only imagine that is the case, if you're accumulating them.

06-18-2011, 08:59 AM	#15 (permalink)
f3lix Gangnam Style Join Date: Oct 2003 Location: DH's Massage Parlor Posts: 6,383 Internets: 213510	Their value is increasing rapidly, but I don't understand much about them beyond that.

06-18-2011, 09:58 AM	#16 (permalink)
THEINCREDIBLEdork Emperor Meow Join Date: Sep 2004 Posts: 9,316 Internets: 284585	It's a ponzi scheme.
	#YOLO

06-18-2011, 10:00 AM	#17 (permalink)
thekremlin Don't call me Shirley Join Date: Jun 2010 Location: London Posts: 3,271 Internets: 220249	Here is my understanding, which may be off in a few details, FC is much more into it than me and can probably explain it much better. Bitcoins are a fiat currency whose transactions are completely electronic and anonymous. As of right now, there are a limited number of goods that can be purchased with bitcoins, but that shouldn't be too shocking. There are a few sites where you can purchase sex toys or drugs with bitcoins, for example. Also you may recall several months ago that paypal refused to transfer money to Julian Assange. You could have donated bitcoins to him very easily. There is a large and high-volume market where you can buy or sell bitcoins. The price has been extremely volatile. Around six months ago, they were trading for less than a penny, in the past few weeks they have traded over $30, have recently dipped to $17. Bitcoin Charts / Markets Because of the anonymity, it might be attractive to criminal enterprises. For example, a drug producer might move a chunk of dollars into bitcoins... that would certainly increase the value. Unlike every other currency in the world, there is a maximum number of bitcoins that will be allowed to exist. Like FC said, around 21 million. There are currently less than that, and you are currently able to generate, or "mine" them. Basically, the many transactions involved in maintaining the currency require a lot of computing power. So people can lend their computers to the bitcoin, whatever, master server, and their computers help process the transactions. In return, bitcoins are generated. So in the beginning, you could just leave your computer on overnight and generate some bitcoins. It has since become a little harder to do as the value of bitcoins has risen, so more people are trying to mine, and we slowly approach the limit of whatever, 21 million bitcoins. But smart people have figured out ways to build "rigs" to mine bitcoins. If you think bitcoins are going to become a mainstream currency, then the fact that there will never be more than 21 million means the value should be considerably higher. There is a greater chance that the thing never really takes off and the value goes to 0. It really just depends on what you think the probability of the two events are. I'm not a believer from this price, but from a certain price I would be buying them, so I clearly don't think the idea is totally bunk.

06-18-2011, 10:19 AM	#18 (permalink)
Dent Lost in Hilbert Spice Join Date: Jun 2004 Location: Surrounded by knaves and fools Posts: 3,471 Internets: 174266	Bitcoins are getting exponentially harder to mine. If you visit the hidden wiki (using tor) you can use them to buy drugs and the like, It's meant to be harder to trace bitcoins than a real currency. FC probably has enough to hire a hitman. Here's an online miner if anyone wants to see what it is without having to install anything, but there are other programs which utilise your graphics card better Generate Bitcoin - Bitcoin Plus And here's a list of companies that accept bitcoins, not sure how up to date it is https://en.bitcoin.it/wiki/Trade I doubt it's worth buying any new hardware to make money, seems most of the internet is a little late to the party. also, lulz. Miner Who Reported Brain Damage Tells All \| Bitcoin Mining Accidents

06-18-2011, 10:59 AM	#19 (permalink)
THEINCREDIBLEdork Emperor Meow Join Date: Sep 2004 Posts: 9,316 Internets: 284585	how do you access the hidden wiki? pm me if necessary.
	#YOLO

06-18-2011, 11:11 AM	#20 (permalink)
Dent Lost in Hilbert Spice Join Date: Jun 2004 Location: Surrounded by knaves and fools Posts: 3,471 Internets: 174266	http ://kjpjvjzj7jkjij2jvj5jajgjwjtj3j5. onion/wiki/index.php/Main_Page use a program called TOR https://www.torproject.org/, don't head straight to the CP. remove the j's.

06-18-2011, 02:46 PM	#21 (permalink)
DJ FC MURICAN Join Date: Jul 2004 Location: Virginia Posts: 5,136 Internets: 250185	Dent I've been trying to do this for a while and can't seem to get it to work. I have tor up and running through firefox, but still don't know how to access .onion files. Can you help? Edit: Never mind. Hidden wiki works. But if you can help me get into Silk Road I'd still appreciate it.
	The basis of our governments being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.

06-18-2011, 02:57 PM	#22 (permalink)
Dent Lost in Hilbert Spice Join Date: Jun 2004 Location: Surrounded by knaves and fools Posts: 3,471 Internets: 174266	Silk Road was taken down a few days ago, if you look through the hidden wiki you'll find other dealers though.

06-19-2011, 09:06 PM	#23 (permalink)
AcTivE 1 thing leads to another. Join Date: Feb 2002 Posts: 2,012 Internets: -2654	When I first read this--I wasn't paying very close attention. I read it as a PSP currency (playstation currency) .... Yea..this is def really awesome, and I had no idea it existed. ....though, its popped up recently on other places I visit. yea... i def have some really solid ideas 4 generating, and 'obtaining' these coins.. I'm going to go crazy w/this..
	___________________ 3:o) horned creatures...wat wat ___________________

06-19-2011, 09:12 PM	#24 (permalink)
vaga1220 * *Dislikes ham Senior Member Join Date: Jul 2005 Location: HELL 666 Posts: 1,518 Internets: 60790	This time... This time I'm sure you'll make money!
	Putting the sensual in non-consensual.

06-19-2011, 10:42 PM	#25 (permalink)
Mr. Blonde Spice Master Join Date: Jan 2004 Posts: 17,969 Internets: 278288	God dammit guys now look what you did.

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