Holy shit if you're not jokin. :|
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The Doomsday Cult of Bitcoin
- Thread starter Black Mamba
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That's... interesting. Do you have any examples of this? Cause yeah, holy shit if true.
What?
Baraka in the White House
2-Terms of Kombat
Between the starry-eyed Libertarian true believers and the neurotic day traders bitcoin's friends are its own worst enemies.
Uber Entertainment is the first company to my immediate knowledge to give this concept a shot. Basically, you ran a mining program and they gave you virtual items for Super Monday Night Combat. It was unsuccessful because Uber stopped supporting the game.
Here's a link about their partnership with the Bitcoin start up, CoinLab:
http://pool.coinlab.com/partners
CoinLab exists to make deals like this within gaming with other companies. Only, moving forward these mining operations will be built directly within the client, running in the background. The goal is to make money from gamers who will never put money into the F2P game they're currently playing That's the best public example I can give at the moment.
Edit: Coinlab is also partnered with Wurm online: http://pool.coinlab.com/partners/wurm
The person who told me about all this said that the developer he works for is currently in early development on a first-person battle arena gameit's own mining program built into it. They would like to keep it private, although they've had discussions with CoinLab about using their services too.
This is interesting, and something I never understood. Who is in charge of the currency? Who controls its emission? What exactly is bitcoin mining?
Can Crusher
Banned
500 million $ heist?
Why am I laughing so hard?
Why am I laughing so hard?
way more
Member
Then the complex equations used to mine coins has to grow with the availability of processors out there? Is it that easy to just make equations harder to solve?
Cosmo Clock 21
Banned
Mr. Luchador
Member
That's my thoughts too. 'Earns' a few coins at the start which are worth zero, the more people 'buy in' to the madness the more value the coins gain and the harder it becomes for others to earn coins.
It's perfection.
The Technomancer
card-carrying scientician
Because they wanted to make money. At the end of the day the inherent conflict between wanting BitCoin to succeed as a currency and wanting to use BitCoin as a personal investment did a lot of damage I think
actually it's returned to average already:
I don't understand how one of the mildest and fastest crash event in bitcoin's history has brought on so many "it's doomed" articles.
These articles should've been in much greater quantity when it crashed 50% and took forever to recover and when it could almost literally only be used to buy drugs.
I don't understand how one of the mildest and fastest crash event in bitcoin's history has brought on so many "it's doomed" articles.
These articles should've been in much greater quantity when it crashed 50% and took forever to recover and when it could almost literally only be used to buy drugs.
Cult-like is pretty accurate. The only person that I know personally that has mentioned Bitcoin also constantly posts conspiracy theories. He goes on about GMO's, Growing your own food (which seems pretty cool at times), other various truther conspiracies, the free market this the free market that.
Fury Sense
Member
Whether mass changed is effected by bitcoin or something else, the demand for its benefits are undeniable. It's decentralized, fast, cheap, and worldwide. These are things our ever globalizing economy increasingly desires. I'm completely confident that bitcoin isn't going to fizzle out without contributing to some major changes in the financial landscape.
Anyone who's lost money in bitcoin has only themselves to blame.
Anyone who's lost money in bitcoin has only themselves to blame.
HamPster PamPster
Member
So that's how the gaming side works
This is how I see it. I guess that makes me "moderate" or something. I just think it's novel in enough ways to be worthwhile, though I acknowledge all the insanity around it (from both the blind-loving and blind-skeptic sides)
spandexmonkey
Banned
This is beautiful. It really paints a picture.
POWERSPHERE
Banned
anything where 1 coin is equal to hundreds of dollars is pretty silly
Ugh.
Cosmo Clock 21
Banned
Because having one dollar equal to a thousand Korean won is a completely different scenario.
All currency is fiat currency.
Interestingly though, if someone robs my bank, I still get my money back. If someone steals my credit or debit card, I still get my money back. If someone robs my bitcoin wallet.. it's gone. Government backing of banks is a good thing.
outunderthestars
Banned
Honest question from someone who doesn't fully understand bitcoin: How is it better suited for the internet age than existing currency? My money is already digital. I sometimes go six months or more without having any physical currency in my possession.
This has to be one of the most idiotic posts in a bitcoin thread I've seen.
Interestingly though, none of that is neccesarily true.
LIke most things in life, the right answer is somewhere in the middle. Is Bitcoin the end all be all to currency? Absolutely not. Does it have use and value? Yes, of course. Its a 100% anonymous way to transfer wealth from one party to another. That has a huge value..mainly for transactions you wish to keep the government out of. Some people fail to recognize that Bitcoin is really only about anonymity, not much else.
Oh, mass bitcoin theft and transactions can be reversed? Do tell.
lol this is a joke post right?
It's not even truly anonymous.
The company doesn't even deal with bitcoins currently... Linking her to bitcoins in a major way has been quite the leap being made by a lof of media outlets it seems.
Well, there's a limit on the amount of money the governments protected, but he's not that far off.
I've noticed how people who believe in these sort of things always speak so passionately, and it does nothing but drive everyone else away. I've never once read:
"Hello. While it's commendable to be working so hard towards your own livlihood, there are several oft-overlooked indicators that you may want to consider. Unfortunately, there is mounting evidence that chemtrails and GMOs only work for your disinterest; programs funded by your local government. For more information on this evidence, please consult your local sun god."
No, it's only high-octane calls of ignorance, death, and their own superiority. Perhaps this energy in inherent in their fringeness, but it wouldn't hurt to be nice every once in a while. These are the guys who are going to bring down the government and create an eternal utopia, surely they have time for a little courtesy.
"Hello. While it's commendable to be working so hard towards your own livlihood, there are several oft-overlooked indicators that you may want to consider. Unfortunately, there is mounting evidence that chemtrails and GMOs only work for your disinterest; programs funded by your local government. For more information on this evidence, please consult your local sun god."
No, it's only high-octane calls of ignorance, death, and their own superiority. Perhaps this energy in inherent in their fringeness, but it wouldn't hurt to be nice every once in a while. These are the guys who are going to bring down the government and create an eternal utopia, surely they have time for a little courtesy.
balladofwindfishes
Member
>90% of the population of the entire world will probably never reach that cap, so to the vast majority of people, their money is entirely safe in a bank.
I should. Missed them while typing, thanks. I'm not directing any of that towards you or even Bitcoin. Indeed I think some fundamentals of it will be lasting and essential for the future. I'm really just talking about the example quotes, as well as the spillover from Unsolved Mysteries and Above Top Secret that you sometimes see.
But that money isn't realll, mannnn. The government can, like, generate more of it out of nothing. Bitcoins on the other ha- Oh.
In all seriousness I'm not completely skeptical of Bitcoin and other cryptocurrencies. I'm not about to pour my life savings into them, but they definitely have some innovative features that will probably wind up having a long-term impact.
Baraka in the White House
2-Terms of Kombat
How much is freedom worth to you?
"Bitcoin, at the moment, is in a slump, with a community that has become its own parody
The Bitcoin masses, judging by their behavior on forums, have no actual interest in science, technology or even objective reality when it interferes with their market position."
Goddamn that ether. Haven't seen a better description yet.
The idea is great, although pretty flawed. Kind of surprised people invested their entire lives into this with such glaring flaws.
Goddamn that ether. Haven't seen a better description yet.
Truly a currency we can believe in. Why centralize or protect it when this can't happen?
The idea is great, although pretty flawed. Kind of surprised people invested their entire lives into this with such glaring flaws.
The calculations aren't really that complex at all.
soul creator
Member
so what you're saying is that the PS4 is both cheaper than the Xbox One and worth more than Xbox One
amazing
Wolfgunblood Garopa
Member
I do wonder how and why people have the time and energy to waste on bitcoin. I guess it's a hobby, but if making money is the goal... there is so many better and more efficient ways to do that, and maybe even be productive in the process.
I don't understand, elaborate please? Unless you're saying that it isn't anonymous in the sense that nothing in the world is truly anonymous.
Calling it a pyramid scheme doesn't make the slightest bit of sense.
cooljeanius
Member
Wow, way to completely misunderstand that quote. If Jesus had wanted to say, "Don't pay your taxes," he would've just said so, because in context, that was what he was being asked, but instead he used that opportunity to make an argument for the separation of church and state. It's amazing what lengths Republicans will go to mis-read the Bible just to try to reconcile their many conflicting beliefs.
Darth Sonik
we need more FPS games
How much does it cost to mine?
Lets say I spend a couple grand on my dedicated mining system, & have it eating electricity at full capacity 24/7, what kind of bitcoin return could I expect per month? per year?
Am I likely to be spending more on electricity than I make mining?
Lets say I spend a couple grand on my dedicated mining system, & have it eating electricity at full capacity 24/7, what kind of bitcoin return could I expect per month? per year?
Am I likely to be spending more on electricity than I make mining?
You could pick some hardware and use a calculator to get a very rough idea:
http://www.butterflylabs.com/
http://www.bitcoinx.com/profit/
But there's a LOT the calculator doesn't account for. The "difficulty" changes over time, the actual price of bitcoins fluctuates, etc.
EDIT: Like KHarvey said, Bitcoin is a little too big and powerful for a home-based mining operation to make much money. A lot of the heavy lifting for Bitcoin is now being done in huge mining farms dedicated to that purpose.
Buying your own hardware is still viable for younger currencies like Dogecoin and Litecoin, at least for now. I've also heard of people getting in early to mine some of the dozens of new cryptocurrencies that pop up every week, then trading them for Doge or Lite.
It doesn't make financial sense for an individual to mine bitcoin anymore I don't believe. There are so many specialized systems used to do nothing but mine bitcoins that the difficulty is such it won't be profitable on a small scale.
The whole process is super interesting though if you like that sort of thing, so look into others like litecoin or dogecoin if you want to learn how it works.
http://anonymity-in-bitcoin.blogspot.com/2011/07/bitcoin-is-not-anonymous.html
It's quite the read.
Basically, through casual usage it's only pseudo-anonymous at best.
You'd probably make about 5 bucks a year.
Infinity. We must raise the bitcoin debt ceiling to preserve our prosperity.
And_Gignac
Member
The article, like some people here, are caricaturing most bitcoin users.
Almost no one believes in it as a currency, it is more like gambling and a lot of people have become rich thanks to it.
Hard to "feel bad" for those who were smart enough to invest early on it.
Bitcoin jealously is a thing I guess.
Almost no one believes in it as a currency, it is more like gambling and a lot of people have become rich thanks to it.
Hard to "feel bad" for those who were smart enough to invest early on it.
Bitcoin jealously is a thing I guess.
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