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Economy / Speculation / Re: Bitcoin and ASIC dilemma
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on: June 24, 2013, 11:55:40 PM
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Do you use windows xp as well?
Do you use windows 8?  I am actually on Dos, still using fiat  I'm using this computer:  and still using Gold and Silver coins  well, you see, that can still be used to count everything in decimal unit, we still use decimal unit |
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264
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Economy / Speculation / Re: Bitcoin and ASIC dilemma
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on: June 24, 2013, 10:37:28 PM
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If SHA256 being useless ,then all bank accounts are naked.....the world's finance system will be destroyed...
If you do not know what SHA256 it is , you should not write this topic.
My topic is not about SHA256, you are not getting it. This topic is about how and if the continuous investments (millions $?) from various actors could slow bitcoin technology and innovation, and how this can influence the price. Do you think in 10 year we will still use SHA256 and the same technologies we use everyday? Sure! To make it even simpler for you: My dad is still using windows xp, this doesn't mean he knows how to use a computer, he only knows how to use windows xp. Do you use windows xp as well? |
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265
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Economy / Speculation / Bitcoin and ASIC dilemma
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on: June 24, 2013, 04:46:25 PM
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Do you think the millions invested in ASIC technology will affect Bitcoin technology in the future? Let's say tomorrow the dev team decide that SHA256 is not enough, and they want to implement a fantastic new algorithm (take this for granted, it's Speculation after all) making ASIC a nice piece of bitcoin history. What's going to happen? Probably BFL will ship everything in a week, but I mean, apart from that? Do you think ASIC miners will ignore it and they will continue to mine on the original chain keeping bitcoin alive? What's going to happen to the price? Please no troll/offtopic, I really want to understand what people think about this  |
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266
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Bitcoin / Bitcoin Discussion / Re: Bitcoin is under attack - here's how to fight it
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on: June 24, 2013, 01:34:21 PM
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This will cause a new problem, a million little idiot currencies, but it will swamp the people trying to destroy Bitcoin, so we will have traded a potentially fatal problem for an annoyance.
nobody is trying to destroy bitcoin and if you think it's a "potentially fatal problem" then you should start to buy/mine them |
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270
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Alternate cryptocurrencies / Altcoin Discussion / Re: [ANN][DGC][FBD] Free Bank of Digitalcoin ~ Risk Averse DGC Investments
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on: June 23, 2013, 01:25:27 AM
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fenican, I will try to explain it again, anybody feel free to correct me please.
10 shareholders give 100DGC each so the bank has now 100*10=1000DGC to borrow
You pay 1BTC+0.05BTC fee for 1000DGC and you can have it back 1BTC for 100DGC for let's say, 1 week
DGC rate goes up:
You sell it on exchange because you can now get more than 1BTC
DGC rate does down within 1 week:
You can get 1BTC back from the bank
Now please explain how shareholders lose because I cannot see it, they still have 1000DGC (initial investment) + 0.05BTC
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274
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Other / Politics & Society / Re: Google has acquired a 512-bit quantum computer
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on: June 20, 2013, 02:25:08 PM
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Oh look, this thread again. https://en.bitcoin.it/wiki/Myths#Quantum_computers_would_break_Bitcoin.27s_securityI'll also mention that if Bitcoin was ever "broken" by quantum computers, then banks, governments, corporations, the NSA and the internet in general would be at risk as they all use the same algorithms as Bitcoin to encrypt data, these algorithms were originally developed by the NSA and hundreds of millions of dollars worth of research has been done by people across the globe who were trying to break them and nobody has even come close in the past 20+ years, if they were ever broken lots of things could be easily decrypted and hackers would plunder and steal everything, Bitcoin would be the least of our worries it would be complete chaos. which means that probably it's nobody's interest to break bitcoin? happy days! |
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276
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Alternate cryptocurrencies / Altcoin Discussion / Re: Merchant Looking For New Coin
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on: June 20, 2013, 12:05:40 PM
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Hi Coin Makers and community builders. I have a bespoke e-commerce solution that accepts multiple coins, due to recent events, I have space to take on a new coin. My main site is www.cryptosextoys.com you must be comfortable associating with this type of content. You can affiliate, so any sales the promotion of your coin generates will earn you 20% BTC. Your coin doesn't even have to be used, you still get paid! Site 2 is www.coingas.com where I sell steam games. You have to be on-board with both sites, I do not accept coins on one or the other. If you are interested in working with me I would love to hear from you in response or PM. Thanks for reading! Could you share what's the % of sales for each currency? That would be very helpful to understand if people really use them, which one they prefer and if there is any particular pattern (price up/down, difficulty, profitability, new introduction, etc.) |
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