I was just googling around and I found some IT guy for a high school that installed it on all the computers so he has his own private mining farm. GENIUS!!!
Any bitcoiners out there?
- Thread starter cloneluke80
- Start date
Shhhh don't tell anyone but I am secretly putting it on a few computers at work... or trying to anyway
so whats the path to get this currency so DDOS attacks cant affect markets?
Also what about open coin?
What about the outrageous time it takes to close trades?
I love the idea, but currencies that are this speculative will not go big time...its not a stock....
Also what about open coin?
What about the outrageous time it takes to close trades?
I love the idea, but currencies that are this speculative will not go big time...its not a stock....
Cyclonepride
Thought Police
Hard to say. As far as central banks/governments are concerned, a threat to their currency is a threat to their economy, and therefore a matter of national security. When national security is invoked, things like laws go out the window.
At that point, they could set up 5000 people full time to gather these things up, and then dump them on the market for $.05. Or they could just slowly buy them up with printed money, and then dump them. As I said before, if it poses a threat to the currency devaluation that central banks are hell bent on doing, then they will find a way to take it down, make it illegal, make it unstable, or whatever it takes.
I love following BitCoin and find the phenomenon fascinating as a competitor to centralized, government controlled currencies, but I believe the price of it is basically pure speculation. Also, since the currency has a fixed supply, I can't see how the currency can ever have a stable price which will limit its adoption on any sort of wide scale.
Cyclonepride
Thought Police
A fixed supply is more conducive to stability, but as I said, if it poses a real threat to the ability of central banks to create money out of thin air, it will be destabilized.
after looking at this some more this morning i still think it is far too complicated of a system to work large-scale. the US dollar, even though many are mad about the world right now, is still the leading currency for worldwide commerce. 75% of countries will accept it as payment for goods and services. adding in bitcoins as a formal (or informal currency only further separates those with tech skills and those without it. "bit mining"? c'mon.
Do I ever think the USD will get replaced? No. Do I think virtual currency will become more popular than fiat money? Yes.
Cyclonepride
Thought Police
I do, if we continue printing willy nilly. China and Russia are already lining up trading partners (the most recent is China/Australia) to trade in yuan.
That guy shows up later in the thread I think. He has thousands and thousands of bitcoins. He doesn't care
Yeah cause the yuan is perfect... puhlease... they artificially peg that thing to the dollar, its not even a freely traded currency...
Cyclonepride
Thought Police
It's not perfect. No fiat currency is. And the manipulation is widespread throughout the world. I'm just saying the world is looking for options so that we can't export our inflation through our rampant devaluation. But they have to do so slowly so that they don't hurt their own interests in the process.
Cyclonepride
Thought Police
I agree that something needs to become a safe haven against central bank interventions. I just don't know what could possibly stand up to powerful nations with truly unlimited resources. The gold market is the traditional safe haven, and that is being jacked with ceaselessly to make it unattractive.
this may be the first gen virtual currency, kind of like continental currency led to the US dollar eventually...
