Newbies Hangout

[ArtemisZuna]

"KISS"--Keep It Simple, S____.
Now THAT is a principle worth exploring, especially in relation to Bitcoin...:

The real KISS of Bitcoin is that it is peer-to-peer (no third party involvement) and--because of the internet (which IS a major third party)--unlimited by distance. It is the closest "thing" to a Star Trek transporter that is currently available for transfer of money.

The non-KISS of Bitcoin is the need for the user to invoke encryption and to use electronic equipment. Attempts to simplify the user interface involve third parties and--consequentially--have resulted in the theft of encrypted wallets. Effective protection is anything BUT simple.

Of course, I have only scratched the surface, but other newbies might want to up their post count by adding their views...

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[ZodiacDragon84]

He he. Good place to run down the clock until I can post in the market. Ranch Doritos FTW!

[TeejFreeman]

Does anyone have anything exciting and fun planned for the New Years Eve Celebration?

-Teej

[ZodiacDragon84]

Does anyone have anything exciting and fun planned for the New Years Eve Celebration?

-Teej

Probably going to sleep. gotta be to work at 6am on the first. ahh the joys of being a garbage man!

[noboundaries6289]

going to 2 parties then back to the hotel with the GF. planning on a very successful weekend

[IamYou]

Anyone got any good Bitcoin miner links ?

Im sure i should be getting more than 400Mh/s with my 5970.. :/

[Cage]

hey so i am a total nube but i thought this thing was like an untracebal ebay of sorts and i am confused as to how this system works? i have been reading through posts but this computer jargin is leaving me confused...help please!

[Defkin]

hey so i am a total nube but i thought this thing was like an untracebal ebay of sorts and i am confused as to how this system works? i have been reading through posts but this computer jargin is leaving me confused...help please!

I am a newbie to bitcoin too. I'll give a simple explanation a try...

A bitcoin is a digital object that it cannot be copied to increase its value.

Think of it like a cheque. If you made many perfect copies this would not increase the value because the bank has records and will bounce all but the first one submitted.

The bank has central records to keep track of transactions. Bitcoin uses an encrypted file on a p2p network to record transactions and uses peers to verify and process these transactions. The bank uses armored truck, security guards and FBI ect. to keep their money secure. Bitcion relies solely on ultra secure encryption methods.

To receive a bitcion you send your encryption signature generated from your primary encryption key to the person sending the money. That person adds the amount along with their signature and your signature and sends it to the p2p network to be verified and processed. Once this is done that amount of money is added against your primary signature on the master record bouncing around the p2p network thus enabling you to generate money off your primary key that can be validated.

As to anonymous ebay you could in theory go to a website on via TOR and pay for something using bitcoin.

[ZodiacDragon84]

hey so i am a total nube but i thought this thing was like an untracebal ebay of sorts and i am confused as to how this system works? i have been reading through posts but this computer jargin is leaving me confused...help please!

I am a newbie to bitcoin too. I'll give a simple explanation a try...

A bitcoin is a digital object that it cannot be copied to increase its value.

Think of it like a cheque. If you made many perfect copies this would not increase the value because the bank has records and will bounce all but the first one submitted.

The bank has central records to keep track of transactions. Bitcoin uses an encrypted file on a p2p network to record transactions and uses peers to verify and process these transactions. The bank uses armored truck, security guards and FBI ect. to keep their money secure. Bitcion relies solely on ultra secure encryption methods.

To receive a bitcion you send your encryption signature generated from your primary encryption key to the person sending the money. That person adds the amount along with their signature and your signature and sends it to the p2p network to be verified and processed. Once this is done that amount of money is added against your primary signature on the master record bouncing around the p2p network thus enabling you to generate money off your primary key that can be validated.

As to anonymous ebay you could in theory go to a website on via TOR and pay for something using bitcoin.

Well said. If there are goods or services you want to find; make sure you check out this forums Marketplace.

[hardpick]

Anyone got any good Bitcoin miner links ?

Im sure i should be getting more than 400Mh/s with my 5970.. :/

try
deepbit.net

[Cage]

thanks for the help, i needed someone to break it down, this can be alittle overwhelming ...thanks again!

[Uncle Scrooge]

Make sure you have 1 miner for each gpu in the 5970.

[TheHeroMember]

Happy New Year Everyone.

[jhn2001]

Wanting to get out from Newbie status??? Hangout here.

the 4 post and 5 hours rule suxxx !! big time

[BitSlot.net]

*hanging out* 

[jhajduk]

forcing people to make useless posts and wait 4 hours is silly

[DoubleIcaras]

Being a newbie is frustrating, but atleast I can lurk the other boards while I wait.

[Patrick||Rodgers]

Being a newbie is frustrating, but atleast I can lurk the other boards while I wait.

How long does one have to wait?

[TheHeroMember]

Being a newbie is frustrating, but atleast I can lurk the other boards while I wait.

How long does one have to wait?

5 hours.

[TheHeroMember]

Does anyone have anything exciting and fun planned for the New Years Eve Celebration?

-Teej

Dip on a hot tub and bottles of beer.