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Forum - Someone please explain: what are Bitcoins and why are we talking about them?
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| Muertos | Posted: Jun 14, 2011 - 10:44 |
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 Paid Disinformation Blogger Level: 14 CS Original | I've caught on that whoever is into these things seems to suffer the currency-is-evil, collapse-porn, anti-Fed CT'ism common to Zeitgeist, Desteni and such, but what else do I need to know? I'm too lazy to Google or Wikipedia this, and besides I want to hear your guys'/gals' take on this anyway. | |||||
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| Agent Matt | Posted: Jun 14, 2011 - 10:46 |
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 Genuine American Monster Level: 70 CS Original | Seems like a Ponzi scheme that targets anarchists and libertardians. | |||||
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| anticultist | Posted: Jun 14, 2011 - 10:48 |
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 Brainwashing you for money Level: 15 CS Original | Its exactly what you said above, only its a peer to peer currency 'invented out of thin air' without the attributes of being traceable by the establishment. So in essence you pay for them with real world cash, then use them to trade with fellow bit coin users outside the current economic framework of the monetary system. They also have little use in the real world other than among other people who value them, such as other bit coin users. Essentially they are a made up payment method for internet geeks who want to trade and buy things which they want no financial records of. Though how they pay one another and the transactions of them are unknown to me as of now. | |||||
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| Muertos | Posted: Jun 14, 2011 - 10:51 |
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Paid Disinformation Blogger Level: 14 CS Original | So it's a form of money laundering for anti-currency nerds. OK, thanks, it's clear now. Yes, seems like libertardians would be attracted to this like flies to shyte. | |||||
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| CyborgJesus | Posted: Jun 14, 2011 - 10:57 |
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 Level: 6 CS Original | It's a digital currency that can be traded on a P2P-basis w/o banks or merchants. The number of coins is capped at 21M, so you have a number of fiat money-haters trying to stock up on BTC right now. They'll probably lose their money pretty quickly, the important question is whether serious people will stay interested in BTC long enough. If so, there's an opportunity to make a lot of money, if not, there's one to lose some. | |||||
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| Agent Matt | Posted: Jun 14, 2011 - 11:00 |
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Genuine American Monster Level: 70 CS Original | There are already reports of people being hacked and losing all of their Bitcoins, I seriously doubt anyone who isn't a crank will stay interested in this stupid crap. | |||||
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| Muertos | Posted: Jun 14, 2011 - 11:29 |
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Paid Disinformation Blogger Level: 14 CS Original | I agree, it seems completely retarded. It seems like play money to me. | |||||
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| CyborgJesus | Posted: Jun 14, 2011 - 11:49 |
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Level: 6 CS Original | If you're serious about funneling money, you're probably not leaving your wallet unencrypted on your main machine. Just sayin'. | |||||
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| domokato | Posted: Jun 14, 2011 - 12:07 |
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 Level: 4 CS Original | An acquaintance told me facebook wanted to get into bitcoins, or something. In retrospect, she sounded kind of like a CT... a hot one tho. Those are forgivable | |||||
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| JimJesus | Posted: Jun 14, 2011 - 12:15 |
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 Bacon Pancakes! Making Bacon Pancakes, take some Bacon and I'll put it in a Pancake! Bacon Pancakes that's what it's gonna make...Bacon Pancaaaaaake!! ♪ Level: 3 | Here's the thing with BitCoins: They can be used to launder money, but you will leave a public paper trail and you will be caught. Because every single BitCoin transaction is put on a public log for all to see. There are people who watch these logs for counterfeiters. Ether way, all an investigator would have to do is open the log and search for your number They are very unstable, and in time will fail. Paper monies are backed by law, commodity monies are backed by something tangible or useable in other ways, BitCoins are just a bunch of cyrpto-nonsense in a file. I've been on the fence about this for a couple weeks and have been begging the supporters for some rational to why I should use it and still have yet to get a satisfactory answer. So I got off the fence. Fuck BitCoin. Not all libertarians/an-caps buy into this junk, especially the economic junkies (yes, even monetarist libertarians have been bashing this as well) Also it's not a pyramid scheme, it's a pump and dump scheme. I think this last weekend showed that to be the case. | |||||
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