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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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lophie
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April 01, 2013, 10:17:34 PM |
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That is just cheap to attack Bitcoin like that. You need time to explain it to them properly. don't judge a book by the cover. Pun intended for Fiat. We all know how this one went!
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Will take me a while to climb up again, But where is a will, there is a way...
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kiba
Legendary
 Offline
Activity: 980
Merit: 1014
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April 01, 2013, 10:25:51 PM |
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DATE NEEDED!
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Quantus
Legendary
Offline
Activity: 883
Merit: 1005
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April 01, 2013, 10:33:32 PM |
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What a hack job.
>My IT department doesn't trust it.
>Some one could hack the network, no wait counterfeit them.
>US government will come in and shut it down.
> Drug dealers
> at least the guy on the left said he was intrigued.
>The guy on the right must be spoon fed and dressed every day and then drove to work. I'm sure he has to be supervised while he shits. He sounds like he was born with a butt plug up his ass and a silver spoon in his mouth. What a dumb ass.
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(I am a 1MB block supporter who thinks all users should be using Full-Node clients) Avoid the XT shills, they only want to destroy bitcoin, their hubris and greed will destroy us. Know your adversary https://www.youtube.com/watch?v=BKorP55Aqvg |
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mike938
Newbie
Offline
Activity: 18
Merit: 0
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April 01, 2013, 10:39:41 PM |
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Did they really say it went up 20-40% in the last month or was I hearing the guy wrong? Seems y'know..a bit understated when it was closer to 180%?
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ShadowOfHarbringer
Legendary
Offline
Activity: 1470
Merit: 1005
Bringing Legendary Har® to you since 1952
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April 01, 2013, 10:42:40 PM |
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ARRRRRRGHHHHH !!
BAD DATE !
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Zomdifros
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April 01, 2013, 11:23:28 PM |
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That is the guy that owns https://www.expensify.com/ and for someone that is just a user of bitcoin he did great! That is why they picked him to talk cause he isn't spoke person for bitcoin at all. I think he did a great job, and I think its awesome that we have entrepreneurs and successful people championing the idea of exploring alternatives like bitcoin. Agreed, he did very well. Although it's a shame he didn't recommend the other guy to get a new IT department because it is obviously filled with idiots. |
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kiba
Legendary
Offline
Activity: 980
Merit: 1014
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April 01, 2013, 11:26:08 PM |
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DATE NEEDED!
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TraderTimm
Legendary
Offline
Activity: 2408
Merit: 1121
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April 01, 2013, 11:27:22 PM |
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Watching that CNBC video was like watching someone's grandpa operate a smartphone for the first time. Other than the guy who was using bitcoins, the other two had zero clue - nor did they exhibit the slightest understanding of their topic. In other words, typical 'journalism' on CNBC.
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fortitudinem multis - catenum regit omnia
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The-Real-Link
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April 01, 2013, 11:27:35 PM |
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Yeah the Expensify gentleman did great. Too bad the pompus investor type dude wouldn't let him finish.
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Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits
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thefiniteidea
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April 01, 2013, 11:42:04 PM |
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"  I hear you say that, but that doesn't make it true."  hahahahahaaaaa... that was great. |
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xcsler
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April 01, 2013, 11:55:13 PM |
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Good news- this piece in my mind does not fall into the "Epic Fail" category!
I think the Expensify guy and the other guy had enough positive things to say to put doubt into Pento's argument, and at the very least, have Bitcoin enter the subconscious of CNBC viewers. Perhaps when these same viewers notice bitcoin's higher price a few months from now they will revisit the issue much like many of us did before accepting its merits. This is another early salvo into the mainstream media which can only help increase Bitcoin's exposure.
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kiba
Legendary
Offline
Activity: 980
Merit: 1014
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April 02, 2013, 12:50:51 AM |
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DATE!!!!!!!!!!!!! IT NEEDS DATE!!!!!!!!!
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teknomunk
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April 02, 2013, 01:13:46 AM |
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DATE!!!!!!!!!!!!! IT NEEDS DATE!!!!!!!!!
I know, it's bugging me as well.... Will the OP please change the article title to "2012-04-01 - CNBC covereage april 1st"? |
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jasinlee
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April 02, 2013, 01:30:02 AM |
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I emailed that pentos whatever guy on his site to inform him of what lmgtfy can do to improve his perceived IQ.
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kjlimo
Legendary
Offline
Activity: 2086
Merit: 1031
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April 02, 2013, 05:00:09 AM |
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" I hear you say that, but that doesn't make it true." hahahahahaaaaa... that was great. My favorite part! I never realized how wrong information on CNBC could be... I always thought tv shows had correct information, but I guess TV is just like the internet... Does anyone frickin know what they are talking about in this world??? Gah, people are so dumb... I can only imagine what I say wrong, too. However, I try to think & research before I speak. Also, I'm willing to learn; however, I don't think that my nice conversations would make for good TV. So I guess I have to keep that in mind, too. People like the controversy! Holy shitballs, we are all gonna be rich after the next wave of money is sunk into BTC! Woot! |
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Dusty
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April 02, 2013, 07:10:25 AM |
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The guy speaking about bitcoin: They are not rare and they are very much destractable /facepalm |
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ShadowOfHarbringer
Legendary
Offline
Activity: 1470
Merit: 1005
Bringing Legendary Har® to you since 1952
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April 02, 2013, 07:30:03 AM |
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DATE!!!!!!!!!!!!! IT NEEDS DATE!!!!!!!!!
Kiba, can't you simply get Title Moderating privileges ? That would save everybody a lot of time and stress... |
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cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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April 02, 2013, 11:19:18 AM |
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"I have and IT department and they would very much not trust this."
Reminds me of "The IT Crowd."
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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jasinlee
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April 02, 2013, 01:19:52 PM |
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I’m not against Bitcoins. I just don’t think the government will allow them to replace dollars and they are far inferior to gold as a store of wealth. Would you rather give your grandchildren a bag full of gold coins or a laptop? I actually think you just misunderstood exactly what bitcoins are, it is impossible as in a statistical chance of 2^256 of a single counterfeit (its called a collision) to occur. And you were saying the IT people would not trust it, which is silly if they know any math. If the encryption for bitcoin is ever broken (which it will not be) then all banks, passwords, and just about anything encrypted you can think of will no longer work either so money will have no value anyway. And as for bags of gold. I would rather my children be capable of supporting themselves, even a barter system would be better than what we have in place currently. And gold plated tungsten never had much appeal to us either. If bitcoins were to replace the dollar, our country would just start using it, and there would not be any worries of counterfeiting anymore, or the gov deciding to inflate/deflate the currency since there is a set amount of bitcoins possible (21 million) that can ever be printed. The funny part is I dont even use bitcoin, I use litecoin, but the principles are similar. And litecoin last night broke the 2$ all time high https://btc-e.com/exchange/ltc_usd so its not that difficult to see how much everyone values the dollar or gold both of which have not had great track records. < My 4 am email I wrote to him while half asleep and sick (got a bad headcold right now). Most people mistakenly trust fiat currency produced by banks. The few that don’t trust government own gold and other PMs. Bitcoin, et al, is a fad for geeks and the general public will never trust it or understand it. and that is a shame because it is far superior to paper money. Michael Pento President: Pento Portfolio Strategies www.pentoport.commpento@pentoport.comO (732) 772-9500 M (732) 213-1295 Keep an eye on the news, your opinion may change in the next few months. < Me Hope you’re correct. My apologies if I said anything wrong, I was hopped up on the cough syrup and still am. |
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