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Title: What is Bitcoin? Post by: BIT-Sharon on November 11, 2014, 02:08:28 AM What is Bitcoin? Essentially, like HTTP or Bittorrent, it is a protocol based on Internet and an invention of genius, which makes unthinkable things possible.
In real life, it is said to be a government-free utopia, and also a big revolution in human history of economy; besides, it is regarded as the technological creation of genius and an open-source software with many defections; furthermore, it is used to be a tool of investment or speculation, and be regarded as the untouchable rat poison as well. Due to different background and views of problem, each one has different understanding of Bitcoin. Gates said it was a technological work, while Munger said it was an untouchable rat poison. In some way, what they speak about can be justified. My only hope is that everyone won’t say Bitcoin a fraud. Don’t you think it illiterate to say so? Title: Re: What is Bitcoin? Post by: TinaK on November 11, 2014, 02:20:35 AM do you think rat poison stronger than fraud?
BTW, Bitcoin is seen as a technological fraud in China, sad Title: Re: What is Bitcoin? Post by: BIT-Sharon on November 11, 2014, 02:22:57 AM Do you think money is more important than life? ;D
Title: Re: What is Bitcoin? Post by: bluemountain on November 11, 2014, 02:55:04 AM The thing about bitcoin is that it is "backed" by the security of the network which is something that is very new to the "financial community" and it is very hard to quantify the value of this security
Title: Re: What is Bitcoin? Post by: lihuajkl on November 11, 2014, 09:15:32 AM You can go to the official website bitcoin.org, which explains bitcoin from different angle in detail.
Title: Re: What is Bitcoin? Post by: fiddelingones on November 11, 2014, 09:24:24 AM You summed it up nicely. Bitcoin haters preffer saying ponzi instead of fraud though
Title: Re: What is Bitcoin? Post by: Etanllah on November 11, 2014, 02:32:23 PM I don't get how some people can think Bitcoin is a fraud when it's becoming more and more accepted every day. Look at all the companies that are accepting Bitcoin....they are accepting it for a reason.
Title: Re: What is Bitcoin? Post by: Meuh6879 on November 11, 2014, 02:44:47 PM Gov. is not for the MONEY ... they must ask the people to do change.
Actually, Gov. control MONEY ... and they don"t ask to the people ... they kill the people with debt. https://www.youtube.com/watch?v=joITmEr4SjY Title: Re: What is Bitcoin? Post by: Beliathon on November 11, 2014, 02:46:30 PM Bitcoin is the foundation upon which we will build a bankster-free future.
Title: Re: What is Bitcoin? Post by: NeuroticFish on November 11, 2014, 02:56:49 PM Bitcoin is a technological wow. As simple as that.
Yes, it is also a coin, which has a value (which is not clear yet how big or small it is because of insufficient use). Yes, it is associated with scams, fraud and illegal activities because it is still new and there are no regulations for it. But it is a technology which will be used in a lot of fields soon - directly as it is, or somewhat adapted. |