Bitcoin discussion and news

Discussion in 'world politics, current affairs and news' started by camouflage, Dec 25, 2010.

  1. mauvais

    mauvais change has become unavoidable

    If energy cost more, the number of 'found' Bitcoins thus far would be reduced, but since a given amount has no actual utility, it wouldn't necessarily affect price. Specifically making Chinese energy cost more would shift the balance of power within the system, and it's hard to say what that would do.
    bimble likes this.
  2. joustmaster

    joustmaster offcumdun

  3. mauvais

    mauvais change has become unavoidable

    Why not? Not had my caffeine yet so not thinking very hard.
  4. bimble

    bimble noisy but small

    Why not? Without all that chinese electricity you think the rate of mining would be the same just not 3/4 of it happening in China?
  5. joustmaster

    joustmaster offcumdun

    Sorry - don't mean to be short... Busy morning.
    A block is found every ten mins or so, regardless of the effort put in
  6. mauvais

    mauvais change has become unavoidable

    Oh yeah, good point.
  7. littlebabyjesus

    littlebabyjesus one of Maxwell's demons

    The target is adjusted very 14 days, no? So there can be temporary reduction in block release if there is a sudden reduction in mining.
  8. gosub

    gosub ~#

  9. Ranbay

    Ranbay The same rules apply

    Here we go :)
  10. Yossarian

    Yossarian free shrugs

    This depressing post does more to explain the bitcoin bubble than anything else I've read.

    The world is changing in unpleasant ways - full-time jobs with benefits like paid holidays are disappearing at the same time that homes are becoming unaffordable. Food prices are going up and will continue to go up as climate change accelerates, and government benefits are being cut back year by year - unless things turn around fast, many of us are facing the prospect of grinding out our old age wondering how to afford our next meal in a society where many others are living lives of luxury.

    So when something like bitcoin comes along, looking like "free money" and a shortcut away from worries, people are going to jump on board, and some will invest money they can't afford - and most of them will lose it. The people who might do OK out of this are big investors and the people who run sites like Coinbase, it's new technology but it looks to me like it's going to end up as the same old story of the rich getting richer and the poor getting poorer.
  11. J Ed

    J Ed Follow Back Pro Expropriation

    Hopefully he's on a wind up.
  12. cupid_stunt

    cupid_stunt Dyslexic King Cnut the Great.

    It's a bit of a roller coaster ride.

    Bitcoin slump sees trades suspended
  13. copliker

    copliker ...

  14. The Fornicator

    The Fornicator Well-Known Member

    Thanks for this. I stopped at 8x my starting stake for Christmas, and cashed in a £few grand. Looks pretty.
  15. beesonthewhatnow

    beesonthewhatnow going deaf for a living

    It’s just fucking tulips, have people lost their fucking minds or what :confused:
  16. The Fornicator

    The Fornicator Well-Known Member

    Not having experienced this before, it is interesting to see that almost everyone who isn't in the game is so poo-faced and focused entirely on the final moment.

    It's as if there isn't months and years when anyone with sense withdraws their original stake, converts a portion of new gains to fiat regularly, and knows the point will probably come when the ride is over.

    I don't know if it's the same for most people - though I guess it is; if it is a bubble and it does burst it really doesn't matter; the money has already been made.

    In other words, for most people this isn't an irrational choice, it is a strategy, and it is a lot of fun.
  17. planetgeli

    planetgeli There's no future in England's dreaming

    For those ‘years’ you speak of, BC was nothing but a way for people to buy drugs with what they thought was untraceability. The last year in which it has gone mental on the market has been driven by investors far bigger than you, if what you claim is even true.

    Haven’t you noticed the vast array of stories from people saying “if only I hadn’t bought that eighth of weed I’d be a millionaire by now”? These stories far, far outstrip your supposed gamble of a few K.

    And the few times I’ve had substantial wins by beating the bookies (in my case) I have, for some reason, never felt the need to justify my winnings by going on and on about it on a message board. It makes me doubt your veracity.
    imposs1904, NoXion and phillm like this.
  18. The Fornicator

    The Fornicator Well-Known Member

    I thought what I was dong was responding to the collective narrative on this message board about what a terrible thing it all was i.e. offering a different perspective. Not to mention what an awful person I was - i.e. personal criticism - for participating, never mind the [middle class] lifestyle choices of some of those choosing to judge me.

    You can doubt, or judge, how you see fit. It seems very much part of the way on here. And heaven forbid someone offers another pov - it's like something attacking the collective immune system
  19. bimble

    bimble noisy but small

    I really don't think that sounds like a convincing portrayal of how how 'most people' who stuck their money into bitcoin recently are likely to feel. You said you got two months behind on rent to buy into this in late August? Would you do the same now?
    For me it was definitely an irrational choice, no more of a strategy than say buying a lottery ticket (which tbf I don't do).
    Terry Manners likes this.
  20. The Fornicator

    The Fornicator Well-Known Member

    Would I do it now? Are you kidding - it's a perfect time to buy; it's $13300 as I write. It will be $20000 + in January. At that point you can take your stake out and have fun.
  21. bimble

    bimble noisy but small

    What makes you think that ??
    NoXion likes this.
  22. littlebabyjesus

    littlebabyjesus one of Maxwell's demons

    Fuck off
  23. butchersapron

    butchersapron blood on the walls

    The merging of the threads has worked very well - one lot of pro-bitcoin speculators from one thread showing exactly why the pro-bitcoin cultists on the other one were wrong about bitcoin being or ever possibly being money. And both ignoring the energy implications. Well, it's beyond implications now isn't it?
    seventh bullet, mather and Signal 11 like this.
  24. alcopop

    alcopop Well-Known Member

    The people who made money are happy.

    The people who didn’t are bitter.
  25. The Fornicator

    The Fornicator Well-Known Member

    How do you think China is doing apropos its Paris Climate Accord targets?

    You'll know about Spinning Jenny's and the Luddite movement, I'm sure.
  26. Ranbay

    Ranbay The same rules apply

    BTC always dips in Jan, might be $2000 at the end... but not for a while.
  27. NoXion

    NoXion Eat leaden death, demon...

    The original Luddites were against being put out of work, not against technology, you know that right?
    Terry Manners and seventh bullet like this.
  28. phillm

    phillm Trolling through Life (TM)

    Turns out it was a hoax ...if you have profits TAKE THEM NOW befor it all goes pffff and dissapears up it's own satoshi-shaped arse...

    The Bitcoin Hoax | HuffPost
  29. keybored

    keybored ㋛̶̶̵̙̜̝̖̝̭̎̀̔̌̕

    Top research.
  30. phillm

    phillm Trolling through Life (TM)

    maybe he needs to sweat the detail a bit more - but in essence it "feels truer" than 50 k bitcoin by June....or soemthing similar
    Terry Manners likes this.

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