Bitcoin Forum
November 16, 2018, 07:31:21 PM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Ponzi scheme?  (Read 3082 times)
draaglom
Newbie
*
Offline Offline

Activity: 7
Merit: 0


View Profile
May 01, 2011, 08:58:49 PM
 #21

The "honest" side of mining is that you are providing a service to the users of bitcoin - you are helping the currency to become more secure and more widely available, and getting paid (in bitcoins) for this. This doesn't account for much of mining's insane profitability though - that bit is because it is a huge bubble (if you are pessimistic) or because lots of people predict it will be the/a very important currency in the future (optimistic).
Creating a Bitcoin client that fully implements the network protocol is extremely difficult. Bitcoin Core and some of its derivatives are the only known safe implementations of full nodes. Some other projects attempt to compete, but it is not recommended to use such software for anything serious. (Lightweight clients like Electrum and Bither are OK.)
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 2786
Merit: 1106



View Profile
May 01, 2011, 09:01:24 PM
 #22

Tell your dad that bitcoin is the way of the future!

Put a watt meter on your mining rig and tell him you will pay him for the electricity it uses.

Bitcoin is not illegal. Tell him to let you succeed or fail on your own terms in life, how else will you learn?

You will look like a genius when they are worth $1,000 each.

ploum
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250



View Profile WWW
May 02, 2011, 06:56:10 AM
 #23

Tell your dad that bitcoin is the way of the future!

Well, I would advice him to believe his dad instead of a bunch of lifeless anonymous spending their time on a forum. Seriously, it's very very hard to tell the difference between foolish people and visionary people. We take the risk because we are adult, we have the right to do what we want with our money that we earn. He can't. He's 16 and, statistically, have less experience in life which means he could be fooled easily.

(Some 16 people are obviously smarter than some 50 people but that's not the point here)

Blog posts about Bitcoin - 1KdRBbhjo72CqKTrFsQed6s9NMrvwvrUkq
epii
Full Member
***
Offline Offline

Activity: 210
Merit: 100



View Profile
May 02, 2011, 06:59:57 AM
 #24

+1 ploum, let's give the guy practical advice rather than ideological and idealistic advice.  This isn't worth creating some major dissent in his family, and if he doesn't play it carefully, he might not have the opportunity to get involved with Bitcoin at all.
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 2786
Merit: 1106



View Profile
May 02, 2011, 07:36:11 AM
 #25

Tell your dad that bitcoin is the way of the future!

Well, I would advice him to believe his dad instead of a bunch of lifeless anonymous spending their time on a forum. Seriously, it's very very hard to tell the difference between foolish people and visionary people. We take the risk because we are adult, we have the right to do what we want with our money that we earn. He can't. He's 16 and, statistically, have less experience in life which means he could be fooled easily.

(Some 16 people are obviously smarter than some 50 people but that's not the point here)

16 is old enough to go to war and die in most countries ... don't be so damn patronising to the guy.

If he misses this chance at bitcoin and spends the rest of his life scraping and scrimping to get by are you going to be sending him welfare checks ploum?

You'll be responsible for stifling ambition and vision, how sad is that? (What exempts you from the lifeless anonymous on internet label anyway?)

Listen to your heart kid, do lots of reading and damn the torpedos!

You got this far, figure out why mining is good or bad and go for it .... just between you and me, if your dad can not see the potential in bitcoin he is just about an idiot.

Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!