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cryptocurrency

 
Author rodzlagus
Partaker
#1 | Posted: 15 Jul 2017 01:38 
any talk about cryptocurrency here.?

Author Paul
Lead Developer
#2 | Posted: 15 Jul 2017 19:32 
It was time to talk about it when nobody trusted BitCoin could cost two thousands dollars :)
As usually, only a few "lucky men" (who knew how and were able to) got into the flow and now they are millionairs... that's mostly all about talking.

In general, if you'd like to talk about the currency, let's clarify what the currency is... It's a money system of one country in relevance to the money system of another country. If so, what is a "crypto currency"? What is this "currency" related to, one algorithm to another?..

Author Guest
#3 | Posted: 18 Jul 2017 15:22 
My thoughts are, the crypto-currency is more about making it out of the government's control. It doesnt have central institution which issues it, it's more likely a "money torrent" project.

Author Paul
Lead Developer
#4 | Posted: 23 Jul 2017 21:29 | Edited by: Paul 
It would be a great idea, but you can not skip the Government. If you pay your appartment or house service rent, incl. electricity, water and sometimes gas expences, you could never pay it in virtual currency, because Government will never accept it in their accounting. NEVER. Yes, you could pay, in virtual money, some private services which may accept it, but it ends in Government money exchange anyway.

Now let's imagine there are no countries, no governments, and no "static" currency - so everyone switches to the virtual currency. Then there will be more virtual (crypto) currencies than now there are countries. As proposed by a crypto currency, it is limited.

But think carefully, it is limited not to its own - it's limited to the human kind.

Author tekcomm
Guest
#5 | Posted: 3 Sep 2017 01:36 
Lol, Its funny that you mentioned that I am a firmware dev for asic miners and I just opened a support forum for newbs :)
I already added google CAPTCHA V2 support to the beta and I'm adding widgets for mining pools, currency exchange rates and a few other things. You can check out the forum. I just installed it tonight and write the captcha widget.

There is also a addon to the footer that gives you the current btc price.

Its a funny story 34 years ago a company called where I was programming databases and wanted us to talk to us about a new product. I was told to say that we where not interested and hang up. I hung up on Bill Gates. The owner of that company still jokes about it. I heard Billy say he expected btc to hit at least 5000 by the end of the year, sure enuff they did. Interesting fact is they are only up 26% since the dot com bust and they have a long way to go. Here what I say when people ask about crypto currency. Imagine if everyone knew every serial number on every dollar, 10 dollar,50 dollar and 100 dollar. Which since the design of btc is a peer distributed ledger it does. You eliminate counterfeiting. That is something no currency, not even gold can say :)

Here you can checkout the CAPTCHA and crypto mods here.

minerforum . biz. tm

Author Paul
Lead Developer
#6 | Posted: 4 Sep 2017 19:32 
tekcomm:
Imagine if everyone knew every serial number on every dollar, 10 dollar,50 dollar and 100 dollar. Which since the design of btc is a peer distributed ledger it does. You eliminate counterfeiting. That is something no currency, not even gold can say :)

But I guess, the serial numbers of dollar banknotes are limited? Let's say 100-dollar prints start with 2 latin letters following by some 8-digits number and ending with a latin letter. This will generate an incredible large amount of combinations, but this amount is easily calculated and definitely limited.

So, what's the sense of crypto-currency - is it about having a limited amount of combinations which are not covered by something material, and of course which are not even covered by gold? Then the dollar is already here... But at least you could touch it by fingers, at the time crypto-currency is just about imagination ;)

Thanks on your job done on re-captcha, I'll try to check it in the nearest time.

Author The Doctor
Guest
#7 | Posted: 6 Sep 2017 11:19 
one word. Counterfeiting.

So, what's the sense of crypto-currency - is it about having a limited amount of combinations which are not covered by something material, and of course which are not even covered by gold? Then the dollar is already here... But at least you could touch it by fingers, at the time crypto-currency is just about imagination ;)

You can buy gold with btc. More important its backed by something more important then gold something that the entire human race spends more time with then there family, pets. Its backed by Microsoft in the US. In China its backed by the largest seller of consumer electronics, Newegg. Also in july, the chinese goverment (allowing no withdrawals) shutdown every btc exchange for a month, to do analyses of the situation. They reopened them all after a month and announced that they were going to allow btc to be used for there stock exchange due to the ease of use.

You can argue for or against it but either way, The genie has been released from the bottle and is not going back in.

Author Paul
Lead Developer
#8 | Posted: 6 Sep 2017 12:34 
The Doctor:
You can buy gold with btc.

Ok - could you please point us to some live and real places, may be websites, which allow to exchange btc to real gold? How would it happen? Does someone need to have kind of virtual account somewhere like on the stock exchange? I mean, I'm not quite sure how a newbie could enter this world. You're right, it's like a Genie, to see him you need to "rub a lamp", not sure how to do it properly.

The Doctor:
Its backed by Microsoft in the US

Really? Never heard about it. I've searched by "what is backing bitcoin" and the very first answer was:

Wondering what bitcoin is backed by? The answer is nothing at all, but that's actually not a bad thing. Like most modern currencies bitcoin is not backed by gold or other precious commodities. In a sense, bitcoin's value is derived from our common belief that bitcoin has value.

BELIEF? You're kidding...

Author tom322
Active Member
#9 | Posted: 6 Sep 2017 18:20 | Edited by: tom322 
I don't believe in bitcoin - even if it reaches 10K, it's going to fall like a house of cards.. to zero. True - some old speculators will make a lot of money in the meantime, but these are the few; the rest are going to lose (especially if they enter the game now).. I'd rather buy canned food and water :}

Author Guest
#10 | Posted: 6 Sep 2017 21:36 
If you look deeply, millions of computers in the world are affected now by "mining" programs, the same happened years ago, but with another programs, which were sending tons of spam through various networks. Those years you didn't suspect your PC is sending spam, nowadays you may not suspect your PC is generating BTC. It's all about the same trend - *real money*. Someone rich said: OK, you lower down the power of some part of PCs in the world, I give you the money for this. You eat the electricity, you eat the power, I give you real food and goods for this. BTCs ARE Devil. This is what finally will destroy the computer world, and if it will destroy the computers, it will destroy the real world. Welcome to The End.

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