How exactly is the supply of bitcoins increased?

We know the federa reserve prints more when more is needed. We know precious metals are physical assets pulled from the ground... You say bitcoins are mined?.. Uhh no. I think they just issue more when needed but it's more transparent? And perhaps not as often?

Sorry I am afraid you obviously know nothing about bitcoin if you think they are not mined and are issued freely as an when. Bitcoin has a market cap of 21million coins and it is mined not issued by a central authority, maybe try reading a little before you think then type.

I know bitcoins are bits of code so to speak, "mined" or created by running staggering amounts of bitcoin transaction data, thereby underpinning the creation of more bitcoins but I cant get away from the feeling that it's major value at this time is for off the radar shopping, and of course the bitcoin dealers. I wonder how much of the transaction data relates just to bitcoin dealing.

Hey I aint dishing it by the way, my knowledge is limited to what I read on Wiki. http://en.wikipedia.org/wiki/Bitcoin I'm interested in it though and I shall continue to follow it's career. Will this be the one that rules the planet by 2140 when they stop mining :?:.

Minining might stopbhefore 2140, the hashing power added to the network increases difficulty of mining, every 4 years the block reward is halved, eventually it may be so difficult to mine the last coins may never be brought to light, just as we may never mine all the gold on the planet, the more gold mined the more difficult it is to find.

If you have any questions about btc please ask and I will do my best to answer them, be that online or face to face enjoying a spliff, i am by no means an expert but i have more experience and understanding than most.

Also in regard to btc transactions in terms of buying things, its the same as gold, you cant just walk into a albert heijn and spend gold.

the majority if gold transactions are in regard to investment, I would say the same for btc at the moment

elasticband wrote:
If you have any questions about btc please ask and I will do my best to answer them, be that online or face to face enjoying a spliff, i am by no means an expert but i have more experience and understanding than most.


Oh you mean how you told me to think and read before I post? Fuck off. Chances are I've forgot more than you know. I havnt read up on bitcoin because you can't put it in my hand THEREFOR its NOT mind. Just because they devised a way to slowly trickle out artificial/digital currency in seemingly honest way doesn't mean as much if it can't be put in my hand. You have knowledge but do you have wisdom?

A bird in the hand is worth 2 in a bush.

Bitcoin is an alternative to centeral banks. Despite its flaws that is good and it did break the mold. A key piece to ever evolving history. I'm on your side so don't take it all to serious guy.

Time to smoke one :mrgreen:

Oh you mean how you told me to think and read before I post? Fuck off.




forum member 1

My original posts may have come of as condescending, but sadly both of your posts was full of misinformed trash slating something i am quite interested in. I don't care if you trust or like bitcoin, i care about people being highly misinformed.

Thank you for admitting when you are wrong though, it takes a big person to publicly do so!

the whole bitcoin thing seems hella dodgy to me. i mean, i know it's "legit" right, but the fact they can fluctuate in value as a "cyber-currency" just don't sit will with me. and everyone automatically assumes your doing something shady if you have them because of the anonymity and the fact that silk road utilizes them; i wouldn't want to convert them into cash deposits into my real bank in case somebody started watching my activity....but i wouldn't want them in the first place anyway!

/paranoia

well in your terms, gold, silver and any other finite resource that fluctuates in value does not sit well with you.
gold hit an all time high of about 1900$ per troy ounce, then dropped in value to about 1400$.

anyone who bought a kilo of gold at the high and is still holding has lost $17500.

Did you know that several years ago, one british pound would exchange to 1.4 euro, today it will only exchange into 1.17....... see a growing trend here?

In regard to bitcoins offerings of anonymity, every bitcoin transaction is logged in the blockchain and can be traced to it's end point esentially. every other tangible currency offers certain means of anonymity for cash in hand transactions, just cause you can buy drugs with bitcoin does not make them shady, this would also make all government currency shady, people have been buying drugs and laundering money with dollar forever.

it is much more transparent than the currencies issued by goverments.

also, it's not really a cyber currency. Currencies are not mined, they are minted by centralized authorities, bitcoin is more of a digital finite resource which is mined, a bit like the miners of the old days that set out west in search of gold!

Aside from the troll, it hasn't taken up that much space on the thread.  It's also easier to keep it all in one place.  However, I don't anticipate the shop requiring many more news updates.  The price can only drop so many times.



I really thought I was going to be able to maintain that 24 hour turnaround, but there were 3 *huge* orders after I put out the coupons.  I didn't think that many would use them, but I also didn't factor in that I gave out over 8,000 coupons.  Aside from the 3 huge orders, there would still be a decent inventory on hand, and I already had a new order with friedcat being made.  Hopefully it's only temporary.


It's a mixture of both.  I personally want more users on PPLNS because I'd rather take 3% with minimal/no risk than 7.5% and have months where I lose money and other months where I hit a jackpot.  It also eliminates a significant number of database inserts/updates by simply piggybacking the reward system on the already existing PPLNS tables.

I'm parting out my purple 240sx, ka24. I'm keeping engine. Will be taking offers on parts. Everything is for sale including wheels.

Car jack is like new, only used a few times.

913-200-1331

Not sure which bumper that is though.

This is the same user that got away with the same scam yesterday a few times.  He tried me (and failed) as well.  Yesterday he was using the ID sucraM, but he's still using the same phone number (bold and underlined in the quote).  Here are the posts discussing it:

https://bitcointalk.org/index.php?topic=86012.msg2966477#msg2966477

https://bitcointalk.org/index.php?topic=277744.0