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Author Topic: 2012-10-16 - Bitcoin Challenges Authority-backed Real World Cash  (Read 727 times)
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October 16, 2012, 03:23:47 PM

Ok, what was announced as an "in-dept discussion on Bitcoin" turns out a short, factually flawed article of virtual currencies as means of in-game payment for online games. Positive in tone but full of FAIL (fail meter shows: "Over 9000"). Pls journalists: Cover Bitcoin, but do your homework!

What we see is Facebook's soaring returns demonstrated by a growth rate of 300% in 2012 for an estimated Facebook Credits revenue of $4 billion.

I doubt that $4 billion was due to their credits. If you follow the link from the article, one can see that techcrunch misunderstood how revenue is generated and according to the chart provided only 1410$ ( Huh) in revenue have been generated in 2012. All very questionable.

What follows is the very first open-source Bitcoin client, Bitcoind. How it works: Imagine the Bitcoind client is your wallet and Bitcoin addresses, which are human-readable strings of numbers and letters is your bank note. Between two clients, you can send the 33 readable strings as payment for some goods or services.

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users can generate satoshis (the currency) offline


Outlets to obtain satosis, [sic]


With that said, it's only a matter of time before Bitcoin transforms into an official means for digital monetary exchange that challenges real world hard cash.
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