Bitcoin Forum
April 16, 2014, 08:34:05 PM *
News: ♦♦ A bug in OpenSSL, used by Bitcoin-Qt/Bitcoin Core, could allow your bitcoins to be stolen. Immediately updating Bitcoin Core to 0.9.1 is required in some cases, especially if you're using 0.9.0. Download. More info.
The same bug also affected the forum. Changing your forum password is recommended.
 
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1021  Bitcoin / Bitcoin Discussion / Re: Wrapping your head around Bitcoin (a guide) on: February 14, 2013, 05:39:44 PM
A 51% attack on the network could reverse transactions.

As far as I understand how Bitcoin works this is false.

What could happen is they could get unconfirmed as blocks in which they were confirmed become orphaned but they'd still be valid and pending for confirmation. This of course exposes some of those transaction to a double spend attack but it doesn't reverse them.
1022  Bitcoin / Bitcoin Discussion / Re: Wrapping your head around Bitcoin (a guide) on: February 14, 2013, 05:13:58 PM
Use this video for getting people to understand cryptography: http://www.youtube.com/watch?v=G2_Q9FoD-oQ
1023  Bitcoin / Bitcoin Discussion / Re: France Is Planning To Prohibit Cash Payments Over 1,000 on: February 14, 2013, 03:33:19 PM
It's almost like they're intentionally trying to drive people into Bitcoin's arms.
1024  Bitcoin / Bitcoin Discussion / Re: Wrapping your head around Bitcoin (a guide) on: February 14, 2013, 03:31:06 PM
Bitcoin has value because you can cash out to USD.
I think you have that backwards.
You can cash bitcoin out to USD, because it has value.

Bingo.
1025  Bitcoin / Bitcoin Discussion / Re: Wrapping your head around Bitcoin (a guide) on: February 14, 2013, 01:58:53 PM
Nice writeup Smiley

I noticed this typo: Bitcoin simply ignores those who don't follow it's its rules

Gah.. I hate it when I miss mistakes like that Tongue
1026  Bitcoin / Bitcoin Discussion / Wrapping your head around Bitcoin (a guide) on: February 14, 2013, 12:39:25 PM
I decided to write up a guide to help people grasp what roughly Bitcoin is and why roughly it works and why it is valued and used in a layman friendly way.

Feel free to download, copy, edit, share, do what ever with it. The only request I have is that if you spot a typo or a grammar error to please let me know so I can correct it. Thanks!

https://docs.google.com/file/d/0B6bqlVfJOOWsRHphT3E1NmVXUjQ/edit?usp=sharing  (reading time ~10min)


EDIT: Here's a slightly updated black and white version if that is what you prefer: https://docs.google.com/file/d/0B6bqlVfJOOWsZUxtUGU2cUpHd0E/edit?usp=sharing
1027  Bitcoin / Bitcoin Discussion / MOVED: Overnight Bitcoin price correction on: February 14, 2013, 11:03:15 AM
This topic has been moved to Speculation.

https://bitcointalk.org/index.php?topic=143974.0
1028  Bitcoin / Bitcoin Discussion / MOVED: Bitfinex hacked? on: February 14, 2013, 01:52:14 AM
This topic has been moved to Service Discussion.

https://bitcointalk.org/index.php?topic=143869.0
1029  Bitcoin / Bitcoin Discussion / MOVED: Could a btc exchange stabilize the price if it wanted? on: February 14, 2013, 01:51:00 AM
This topic has been moved to Speculation.

https://bitcointalk.org/index.php?topic=143895.0
1030  Economy / Economics / Re: How economy grow with a deflationary currency? on: February 13, 2013, 04:25:58 PM
A company may be worth a 100 bitcoins today, and after growing, it may be worth 90 bitcoins next year. It has still grown, becausr these 90 coins can buy more stuff.
But.. assume there are two people,
One person setup a company, worked his butt off and after a year, his company "grew" from 100 btc to 90 btc.
Another person saved his 100 btc, lay on the beach everyday, he still have 100 btc after a year.
What's wrong with this picture?  

Nothing. Savers, i.e. people who purposefully underconsume their wealth are suppose to be left with more than those who consume more. Also in your little story you forget that the company may now be worth 90 BTC but it could be earning 20BTC in yearly profits.
1031  Bitcoin / Bitcoin Discussion / MOVED: dear roger ver: what do you think of alt. blockchains? on: February 13, 2013, 04:23:25 PM
This topic has been moved to Alternate cryptocurrencies.

https://bitcointalk.org/index.php?topic=143812.0
1032  Bitcoin / Bitcoin Discussion / MOVED: Idea for a gambling game - Satoshifactor Game on: February 13, 2013, 04:22:18 PM
This topic has been moved to Gambling.

https://bitcointalk.org/index.php?topic=143801.0
1033  Bitcoin / Bitcoin Discussion / MOVED: 21 Million Heart on: February 13, 2013, 10:49:35 AM
This topic has been moved to Off-topic.

https://bitcointalk.org/index.php?topic=143747.0
1034  Bitcoin / Bitcoin Discussion / MOVED: How to buy apples with bitcoin on: February 13, 2013, 10:48:59 AM
This topic has been moved to Economics.

https://bitcointalk.org/index.php?topic=143718.0
1035  Bitcoin / Bitcoin Discussion / MOVED: Telecom services that may be very useful on: February 13, 2013, 10:47:33 AM
This topic has been moved to Off-topic.

https://bitcointalk.org/index.php?topic=143754.0
1036  Bitcoin / Bitcoin Discussion / MOVED: coinbase.com sending unconfirmed? Huge risk? on: February 13, 2013, 10:45:16 AM
This topic has been moved to Service Discussion.

https://bitcointalk.org/index.php?topic=143715.0
1037  Bitcoin / Bitcoin Discussion / MOVED: Ask http://www.pozible.com to have bitcoin on: February 13, 2013, 10:44:09 AM
This topic has been moved to Project Development.

https://bitcointalk.org/index.php?topic=143737.0
1038  Bitcoin / Bitcoin Discussion / MOVED: Predicing btc to fiat stabilization ? on: February 13, 2013, 10:43:53 AM
This topic has been moved to Economics.

https://bitcointalk.org/index.php?topic=143731.0
1039  Bitcoin / Bitcoin Discussion / Re: Wikipedia's yearly donation campaign; Time to accept Bitcoins? on: February 13, 2013, 01:27:46 AM

This is silly.  Stop harassing them guys.  I'm pretty sure it's counter-productive.

It's harassment to send them money after they asked for it?
1040  Economy / Economics / MOVED: Where is the damn correction??? on: February 13, 2013, 12:20:03 AM
This topic has been moved to Speculation.

https://bitcointalk.org/index.php?topic=143353.0
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