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Author Topic: What is Bitcoin in 15 Seconds  (Read 2591 times)
cdnbcguy
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July 26, 2012, 10:37:01 PM
 #21

Bitcoin is an Internet currency that is spread around the world and is under no central authority so it cannot be sued out of existence ala Napster or seized by the armed men of the state like Megaupload, yet is still incorruptible because it uses only proven technology to secure itself.

It's source code is open and has been inspected by hundreds of computer professionals and found almost perfect. The small bugs discovered are long fixed.

Bitcoin is not doing to replace the American Dollar, but it is proof of concept that the future of money is bitcoin-like and on the net. Fiat currency under a central bank is over.

The Fed is dead. Not today and tomorrow, but it's doomed.

Annona ad! Please keep in mind that there is nothing wrong with Bitcoin itself. All it's scandals are caused by wonky websites and sleazy people exploiting it. The light attracts bugs.

When all this bullshit drys up and blows away, Bitcoin will be stronger than ever.
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nedbert9
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July 26, 2012, 10:54:06 PM
 #22




Bitcoin.  It makes me fiat.  Please use it.

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July 27, 2012, 01:37:25 AM
 #23

Just received this email from my wife:

"I have been trying to explain bit-coins to Caryn and I realized I have no real understanding of what they are."



Hah!  My wife told me nearly the same thing when she tried to explain it to her mom.
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July 27, 2012, 05:58:12 AM
 #24

Bitcoin is the worlds first real electronic money. Not a number in a private bank, saying how much the owe you.

Bitcoins - Because we should not pay to use our money
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July 27, 2012, 11:08:21 AM
 #25

Just received this email from my wife:

"I have been trying to explain bit-coins to Caryn and I realized I have no real understanding of what they are."



Hah!  My wife told me nearly the same thing when she tried to explain it to her mom.

Hmmm I thought I nailed it in my post, do you not think so? Bitcoin - the first completely transparent self-governing digital currency?

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
ErebusBat
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July 27, 2012, 02:22:40 PM
 #26

Bruno:

This is a very good thing to do... get us to start thinking.  I am having lunch with my father in a few days to explain bitcoins to him.  He is very much the skeptic/non-technologist so thinking this through is very helpful.

Also I think that Serith made a very good point about people not understanding 'cryptography' or the other underlying technologies.  I honestly believe that a majority of the US population believes what they see on CSI and that the cops can just pop in a CD and decrypt anything.  Given this assumption alone it may be wise to steer clear of that conversion to begin with.

Also having different presentations/maps ready for different audiences would be great.

Thanks for making me 'put this on paper' so-to-speak.

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July 27, 2012, 03:13:25 PM
 #27

it's MAGIC INTERNET MONEY.

https://bitcointalk.org/index.php?topic=94883.0
beckspace
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July 27, 2012, 04:16:24 PM
 #28

Bitcoin is an open protocol of internet money.
With just a computer and a free program you can generate as many pseudonymous "swiss bank accounts" as you want.
Highly divisible AND inflation proof. Public and decentralized.
Secure by military-level SHA encryption. No back doors.

It's the future of money. Instead of paper, you guard a precious string of text that nobody but YOU has access. You can print it, store in a digital file or memorize seeds.


Not 15 seconds, though.

You guys have really come up with somethin'
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July 27, 2012, 05:08:48 PM
 #29

Bruno:

This is a very good thing to do... get us to start thinking.  I am having lunch with my father in a few days to explain bitcoins to him.  He is very much the skeptic/non-technologist so thinking this through is very helpful.

Also I think that Serith made a very good point about people not understanding 'cryptography' or the other underlying technologies.  I honestly believe that a majority of the US population believes what they see on CSI and that the cops can just pop in a CD and decrypt anything.  Given this assumption alone it may be wise to steer clear of that conversion to begin with.

Also having different presentations/maps ready for different audiences would be great.

Thanks for making me 'put this on paper' so-to-speak.

Thank you, ErebusBat. Please take a moment to view, or re-view if that's the case, the following video of which has be linked to several times by me and others on this forum: http://www.youtube.com/watch?v=qp0HIF3SfI4. Keep in mind this thread and its ideas while viewing said video.

~Bruno~
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July 27, 2012, 06:00:02 PM
 #30

Bitcoin is a decentralized currency which can be transferred all over the world. This is done by computers all over the world that are running software to "mine" bitcoins and provide the infrastructure for the currency.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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