• Log InLog In
  • Register
Liquid`
Team Liquid Liquipedia
EDT 06:52
CEST 12:52
KST 19:52
  • Home
  • Forum
  • Calendar
  • Streams
  • Liquipedia
  • Features
  • Store
  • EPT
  • TL+
  • StarCraft 2
  • Brood War
  • Smash
  • Heroes
  • Counter-Strike
  • Overwatch
  • Liquibet
  • Fantasy StarCraft
  • TLPD
  • StarCraft 2
  • Brood War
  • Blogs
Forum Sidebar
Events/Features
News
Featured News
[ASL19] Finals Recap: Standing Tall9HomeStory Cup 27 - Info & Preview18Classic wins Code S Season 2 (2025)16Code S RO4 & Finals Preview: herO, Rogue, Classic, GuMiho0TL Team Map Contest #5: Presented by Monster Energy6
Community News
Flash Announces Hiatus From ASL50Weekly Cups (June 23-29): Reynor in world title form?12FEL Cracov 2025 (July 27) - $8000 live event16Esports World Cup 2025 - Final Player Roster16Weekly Cups (June 16-22): Clem strikes back1
StarCraft 2
General
How does the number of casters affect your enjoyment of esports? The GOAT ranking of GOAT rankings The SCII GOAT: A statistical Evaluation Statistics for vetoed/disliked maps Esports World Cup 2025 - Final Player Roster
Tourneys
https://www.facebook.com/MiracleSheetsOnline/ RSL: Revival, a new crowdfunded tournament series [GSL 2025] Code S: Season 2 - Semi Finals & Finals $5,100+ SEL Season 2 Championship (SC: Evo) FEL Cracov 2025 (July 27) - $8000 live event
Strategy
How did i lose this ZvP, whats the proper response Simple Questions Simple Answers
Custom Maps
[UMS] Zillion Zerglings
External Content
Mutation # 480 Moths to the Flame Mutation # 479 Worn Out Welcome Mutation # 478 Instant Karma Mutation # 477 Slow and Steady
Brood War
General
Player “Jedi” cheat on CSL Unit and Spell Similarities Help: rep cant save Flash Announces Hiatus From ASL BGH Auto Balance -> http://bghmmr.eu/
Tourneys
[Megathread] Daily Proleagues Small VOD Thread 2.0 [BSL20] GosuLeague RO16 - Tue & Wed 20:00+CET The Casual Games of the Week Thread
Strategy
Simple Questions, Simple Answers I am doing this better than progamers do.
Other Games
General Games
Stormgate/Frost Giant Megathread Nintendo Switch Thread Path of Exile What do you want from future RTS games? Beyond All Reason
Dota 2
Official 'what is Dota anymore' discussion
League of Legends
Heroes of the Storm
Simple Questions, Simple Answers Heroes of the Storm 2.0
Hearthstone
Heroes of StarCraft mini-set
TL Mafia
TL Mafia Community Thread Vanilla Mini Mafia
Community
General
US Politics Mega-thread Russo-Ukrainian War Thread Things Aren’t Peaceful in Palestine Trading/Investing Thread The Games Industry And ATVI
Fan Clubs
SKT1 Classic Fan Club! Maru Fan Club
Media & Entertainment
Anime Discussion Thread [Manga] One Piece [\m/] Heavy Metal Thread
Sports
2024 - 2025 Football Thread NBA General Discussion Formula 1 Discussion TeamLiquid Health and Fitness Initiative For 2023 NHL Playoffs 2024
World Cup 2022
Tech Support
Computer Build, Upgrade & Buying Resource Thread
TL Community
Blogs
Culture Clash in Video Games…
TrAiDoS
from making sc maps to makin…
Husyelt
Blog #2
tankgirl
StarCraft improvement
iopq
Trip to the Zoo
micronesia
Customize Sidebar...

Website Feedback

Closed Threads



Active: 653 users

Bitcoin discussion thread

Forum Index > General Forum
Post a Reply
1 2 3 4 5 69 70 71 Next
scDeluX
Profile Blog Joined October 2007
Canada1341 Posts
April 18 2013 15:05 GMT
#1
What is a bitcoin?

Bitcoin is a decentralized digital currency. It does not rely on a central server to process transactions or store funds.

Why is bitcoin appealing?

Because it cut downs the middle-man. No banks, no fee (or very negligible ones). It is also unregulated, meaning that you can buy, sell and own bitcoins regardless of your age and country.

What can it do for me and teamliquid?

Bitcoin can be a wonderful tool for gaming communities like Teamliquid. It makes it easy to donate small amounts of money to anyone. Example would be donating to your favourite streamer, tipping someone for helping you out or organizing tournaments like sc2btc.

Where can I get bitcoins?

The fastest and cheapest way is localbitcoin. If you don't want to go that route you will have to register and deposit in a currency exchange, just like stocks.

When I look at the charts the prices seem so volatile, what gives?

Recent media coverage, euro prices, cyprus crisis, finances speculators etc.. have took the prices on a real rollercoaster. It is an highly volatile and risky market. However merchants can protect themselves using services like bitpay. Users can also protect themselves by trading their bitcoin for their favourite currency on exchanges.

Concerns
Since it's all virtual it's susceptible to hacking and other type of attacks. It happened once in 2011 and could happens again. Countries can also vote new laws that would change the game. I invite you to read this : Concerns


List of bitcoin related website :


Official wiki
official forums
Market prices

I would love to see teamliquid accept bitcoin donation and accept it as a payment method in it's store. I think it's perfect because of the international user base of all ages. You can see an example of the fees you save here.

This thread is mean to be a discussion for fellow enthusiast, newbie and skeptics. I welcome any questioning and criticisms
Brood War is forever
KillerSOS
Profile Blog Joined July 2010
United States4207 Posts
April 18 2013 15:08 GMT
#2
I don't think Bitcoin is useful as a real method of payment yet. I for one wouldn't accept it from anyone.
Millitron
Profile Blog Joined August 2010
United States2611 Posts
April 18 2013 15:12 GMT
#3
I love the idea of Bitcoin. Anything that hurts the Fed is good in my eyes.
Who called in the fleet?
scDeluX
Profile Blog Joined October 2007
Canada1341 Posts
Last Edited: 2013-04-18 15:14:55
April 18 2013 15:14 GMT
#4
On April 19 2013 00:08 KillerSOS wrote:
I don't think Bitcoin is useful as a real method of payment yet. I for one wouldn't accept it from anyone.


What do you think of services like bitpay? (Implying that you are a merchant)

Doesn't USD dollars with theses fees is as real as it gets?

Brood War is forever
zdfgucker
Profile Joined August 2011
China594 Posts
April 18 2013 15:22 GMT
#5
http://www.nytimes.com/2013/04/15/opinion/krugman-the-antisocial-network.html?_r=0

I think Krugman put it best, we don't need Bitcoin. Money only is worth something because we trust it's worth something and therefor accept it as a form of payment, credit, and so on. Try paying your groceries with Bitcoins and see what happens.

It's a gimmick, a toy, that you can play around for a while and some people probably made some good money off of Bitcoins. If they are smart, they don't gamble, though, and change it back to USD, EUR or whatever currency they prefer.
fLDm
Kimaker
Profile Blog Joined July 2009
United States2131 Posts
Last Edited: 2013-04-18 15:26:35
April 18 2013 15:22 GMT
#6
I would recommend zerohedge.com for anyone who really wants Bitcoin information.

Very heated debate typically, and the articles tend to be dense with financial language, but if you can wade through it you should get a good idea. Basically, these guys had the Bitcoin bubble predicted with a surprising amount of accuracy on top of being WAY ahead of the game in terms of financial information in general.

That being said, I strongly recommend that people without much financial know-how look into bitcoin (at least academically) as it will invariably lead to better understanding of what money is, how it's manipulated by Central Banks, and how detached our financial systems in the West are from reality.

Frightening actually.
On April 19 2013 00:22 zdfgucker wrote:
http://www.nytimes.com/2013/04/15/opinion/krugman-the-antisocial-network.html?_r=0

I think Krugman put it best, we don't need Bitcoin. Money only is worth something because we trust it's worth something and therefor accept it as a form of payment, credit, and so on. Try paying your groceries with Bitcoins and see what happens.

It's a gimmick, a toy, that you can play around for a while and some people probably made some good money off of Bitcoins. If they are smart, they don't gamble, though, and change it back to USD, EUR or whatever currency they prefer.

And you don't think the dollar or the Euro aren't equally "toys" detached from anything remotely imposed by natural scarcity? It's just a bigger game.

It's in the vested interest of the current money issuers (Central Banks) to stomp competition out (bitcoin). Really, they both function on the same premise and neither one is intrinsically superior to the other seeing as (in the case of the United States) the Federal Reserve is privately owned anyway.
Entusman #54 (-_-) ||"Gold is for the Mistress-Silver for the Maid-Copper for the craftsman cunning in his trade. "Good!" said the Baron, sitting in his hall, But Iron — Cold Iron — is master of them all|| "Optimism is Cowardice."- Oswald Spengler
ThomasjServo
Profile Blog Joined May 2012
15244 Posts
April 18 2013 15:25 GMT
#7
On April 19 2013 00:14 scDeluX wrote:
Show nested quote +
On April 19 2013 00:08 KillerSOS wrote:
I don't think Bitcoin is useful as a real method of payment yet. I for one wouldn't accept it from anyone.


What do you think of services like bitpay? (Implying that you are a merchant)

Doesn't USD dollars with theses fees is as real as it gets?




That chart and the video are interesting to me from a fraud perspective, I work in fraud prevention so to me it is only a matter of time before this system gets figured out. So according to that video, for digital products as it specifies, I am paying with Bitcoin and only am required to provide an email address, I can only provide an email address for things like e giftcards and mobilize that giftcard to a rechargeable visa or other products as soon as I can, getting real cash.

I am not 100% on how the system works yet, still sifting through the site, but this is really an interesting product considering my profession.
c0ldfusion
Profile Joined October 2010
United States8293 Posts
April 18 2013 15:28 GMT
#8
Are any of you guys miners? Trying to get a sense of the computation power it takes to mine them.
sob3k
Profile Blog Joined August 2009
United States7572 Posts
April 18 2013 15:33 GMT
#9
On April 19 2013 00:28 c0ldfusion wrote:
Are any of you guys miners? Trying to get a sense of the computation power it takes to mine them.


you basically can't mine them anymore without specialized equipment (power will cost more than the profit)
In Hungry Hungry Hippos there are no such constraints—one can constantly attempt to collect marbles with one’s hippo, limited only by one’s hippo-levering capabilities.
KillerSOS
Profile Blog Joined July 2010
United States4207 Posts
April 18 2013 15:34 GMT
#10
On April 19 2013 00:28 c0ldfusion wrote:
Are any of you guys miners? Trying to get a sense of the computation power it takes to mine them.


If you aren't going to invest in the ASIC mining hardware I wouldn't bother trying to mine tbh.

http://www.butterflylabs.com/ is a good example of what will be required in the near future.
Marradron
Profile Blog Joined January 2009
Netherlands1586 Posts
Last Edited: 2013-04-18 15:37:15
April 18 2013 15:34 GMT
#11
Bitcoins is a bit like a pyramid scheme. The ones that benefit most by it becoming popular are the early adopters. They made a shitload of bitcoins in the time it was easy to mine them. They are the ones that benefit from a high demand/price of bitcoins. Although the general idea of the coin is good, with the way it was set up, I will not use it.
Juddas
Profile Joined January 2011
768 Posts
April 18 2013 15:38 GMT
#12
I have been following BTC for a couple of months I guess, since it was around ~52 USD, and it has been a very exciting road so far. I didn't invest any at the time, due to lack of capital at the moment, but I certainly wish I had because they got up to 220 USD very rapidly. However, the prices have been going a bit crazy lately, and I think that, more than anything is what's hampering the bitcoin. It's very difficult to accept as a retailer until it stabilizes, and it can't stabilize until more retailers start accepting them. Will be lots of fun to watch though. Very exciting stuff
DropBear
Profile Blog Joined January 2011
Australia4351 Posts
April 18 2013 15:41 GMT
#13
Some guy offered me a bitcoin for one of my TF2 items and I had no idea wtf he was talking about. Obviously I didn't take it. While I have nothing to add, I guess that this thread helped me know what they are now... kinda?
Sucker for nostalgia
Hitch-22
Profile Blog Joined February 2013
Canada753 Posts
April 18 2013 15:41 GMT
#14
Reminds me of "credits" for some reason in the Sci Fi universes.
"We all let our sword do the talking for us once in awhile I guess" - Bregor, the legendary critical striker and critical misser who triple crits 2 horses with 1 arrow but lands 3 1's in a row
sob3k
Profile Blog Joined August 2009
United States7572 Posts
Last Edited: 2013-04-18 15:43:18
April 18 2013 15:42 GMT
#15
On April 19 2013 00:34 Marradron wrote:
Bitcoins is a bit like a pyramid scheme. The ones that benefit most by it becoming popular are the early adopters. They made a shitload of bitcoins in the time it was easy to mine them. They are the ones that benefit from a high demand/price of bitcoins. Although the general idea of the coin is good, with the way it was set up, I will not use it.


Basically every new technology is a pyramid scheme by that definition. No shit when something becomes valuable the people who acquired it when it was considered worthless make bank. When Thog found you could burn the coal deposit in his cave he got pretty popular, doesn't mean anything about the value of coal as a fuel.
In Hungry Hungry Hippos there are no such constraints—one can constantly attempt to collect marbles with one’s hippo, limited only by one’s hippo-levering capabilities.
Kimaker
Profile Blog Joined July 2009
United States2131 Posts
Last Edited: 2013-04-18 15:50:36
April 18 2013 15:42 GMT
#16
On April 19 2013 00:34 Marradron wrote:
Bitcoins is a bit like a pyramid scheme. The ones that benefit most by it becoming popular are the early adopters. They made a shitload of bitcoins in the time it was easy to mine them. They are the ones that benefit from a high demand/price of bitcoins. Although the general idea of the coin is good, with the way it was set I will not use it.

100% agree.

However, this is only because Bitcoin is a limited release currency and people are not used to having to subdivide their currency as opposed to simply inflating it in order to match growing production and consumption.


The truth is, Bitcoin is just as reliable (arguably more so because it IS limited release) than most of the major currencies utilized today. The only thing which makes the major currencies more desirable is subjective dispersion and use. Institutionally and intrinsically, there is nothing which makes either the USD or the EURO superior forms of currency. Just more people use them.

Edit: Essentially the only thing keeping me from jumping on with Bitcoin is human interaction's as they currently stand. Seeing as currency issuers (Central Banks) are, and have been, engaged in currency wars for the last few decades, throwing more competitors into the ring probably won't go over so well with most of these institutions. I expect one of two things to happen (though I'm leaning towards the first):

1. They unite to manipulate the markets to the best of their ability to maintain their financial "Phenotypical" hegemony and crush Bitcoin if it appears to be catching on. (To not do this sets a bad precedent and undermines their integrity and decades of convincing people that only central banks can be trusted to print currency).

Or...


2. One of the Central Banking entities decides to "Go Nuclear" and prop up Bitcoin and use it as a Cats Paw against the other Banks. I find this highly unlikely as it sets a non-profitable precedent for the Global Banking Community. This option would be the equivalent of actual Nuclear war during the Cold War without any considerations for MAD.
Entusman #54 (-_-) ||"Gold is for the Mistress-Silver for the Maid-Copper for the craftsman cunning in his trade. "Good!" said the Baron, sitting in his hall, But Iron — Cold Iron — is master of them all|| "Optimism is Cowardice."- Oswald Spengler
Superouman
Profile Blog Joined August 2007
France2195 Posts
April 18 2013 15:47 GMT
#17
Hah, finally this thread has been made. I was really surprised nobody did it after the craze of the previous weeks.
Search "[SO]" on B.net to find all my maps ||| Cloud Kingdom / Turbo Cruise '84 / Bone Temple / Eternal Empire / Zen / Purity and Industry / Golden Wall / Fortitude / Beckett Industries / Waterfall
c0ldfusion
Profile Joined October 2010
United States8293 Posts
April 18 2013 15:47 GMT
#18
On April 19 2013 00:34 KillerSOS wrote:
Show nested quote +
On April 19 2013 00:28 c0ldfusion wrote:
Are any of you guys miners? Trying to get a sense of the computation power it takes to mine them.


If you aren't going to invest in the ASIC mining hardware I wouldn't bother trying to mine tbh.

http://www.butterflylabs.com/ is a good example of what will be required in the near future.


Thanks. That's certainly interesting. Could you comment a bit more on the algorithm though? It's surprising to me that you'd need specialized hardware to do it. Strange that a firm would be selling these instead of running a mining operation themselves.
Cynry
Profile Blog Joined August 2010
810 Posts
April 18 2013 15:47 GMT
#19
I've been reading about those a year or so ago, seemed a very good idea at the time (like someone else said, anything that can hurt central banks...).
But, reading more about it recently, I don't really see the difference between that and any other "polluted" form of money.
I mean, right now, popularity is going up, so is value, and the cycle goes on. What will prevent that kind of money from suffering the same fate as any other bubble that puts value on nothing ?
Made me think that the issue with these bubbles, is that we value stuff on how the value of said stuff goes. So, rising means more, stagnating means everybody freaks out because it's not rising anymore, and then starts the fall. Is that anywhere near correct ? I don't know much about economics...
nadafanboy42
Profile Joined August 2009
Netherlands209 Posts
April 18 2013 15:47 GMT
#20
On April 19 2013 00:22 Kimaker wrote:
I would recommend zerohedge.com for anyone who really wants Bitcoin information.

Very heated debate typically, and the articles tend to be dense with financial language, but if you can wade through it you should get a good idea. Basically, these guys had the Bitcoin bubble predicted with a surprising amount of accuracy on top of being WAY ahead of the game in terms of financial information in general.

That being said, I strongly recommend that people without much financial know-how look into bitcoin (at least academically) as it will invariably lead to better understanding of what money is, how it's manipulated by Central Banks, and how detached our financial systems in the West are from reality.

Frightening actually.
Show nested quote +
On April 19 2013 00:22 zdfgucker wrote:
http://www.nytimes.com/2013/04/15/opinion/krugman-the-antisocial-network.html?_r=0

I think Krugman put it best, we don't need Bitcoin. Money only is worth something because we trust it's worth something and therefor accept it as a form of payment, credit, and so on. Try paying your groceries with Bitcoins and see what happens.

It's a gimmick, a toy, that you can play around for a while and some people probably made some good money off of Bitcoins. If they are smart, they don't gamble, though, and change it back to USD, EUR or whatever currency they prefer.

And you don't think the dollar or the Euro aren't equally "toys" detached from anything remotely imposed by natural scarcity? It's just a bigger game.

It's in the vested interest of the current money issuers (Central Banks) to stomp competition out (bitcoin). Really, they both function on the same premise and neither one is intrinsically superior to the other seeing as (in the case of the United States) the Federal Reserve is privately owned anyway.


One of the problems as Krugman pointed out is that one of the major benefits of paper money was to replace a currency (gold) which required sizeable infrastructure to produce, with a currency (paper) that required almost none, thus freeing up that infrastructure to produce other things. Bitcoin is doing the reverse, returning to a currency that (as time goes on) requires sizeable infrastructure to produce.

But what it really all comes down to is that all value is subjective. What a person is willing to pay for something is always based entirely on their subjective opinion on what they need or want. No currency or even a return to barter economy is going to change that.
NaDa/Jaedong/Liquid-Fanboy
1 2 3 4 5 69 70 71 Next
Please log in or register to reply.
Live Events Refresh
RSL Revival
10:00
Season 1: Playoffs Day 2
herO vs SHIN
Reynor vs Cure
Tasteless776
3DClanTV 90
LiquipediaDiscussion
[ Submit Event ]
Live Streams
Refresh
StarCraft 2
Crank 1470
Tasteless 776
Harstem 155
IndyStarCraft 134
Rex 120
StarCraft: Brood War
Calm 9425
firebathero 6453
Rain 4906
Horang2 1572
Jaedong 1467
Larva 584
Pusan 484
actioN 394
BeSt 299
Leta 275
[ Show more ]
EffOrt 170
Light 145
Mini 142
ToSsGirL 130
Rush 122
Hyun 108
PianO 80
Mong 55
JulyZerg 42
Mind 41
JYJ39
Killer 37
Backho 24
NaDa 22
HiyA 21
sSak 17
Sharp 17
Sacsri 13
zelot 12
Shinee 11
Snow 9
Movie 7
IntoTheRainbow 7
SilentControl 5
Bale 4
hero 4
Barracks 3
Dota 2
XcaliburYe760
XaKoH 408
420jenkins305
League of Legends
JimRising 337
Counter-Strike
shoxiejesuss872
Stewie2K558
allub254
Other Games
DeMusliM412
Pyrionflax242
ArmadaUGS93
rGuardiaN53
Lowko34
Organizations
StarCraft 2
ComeBackTV 548
IntoTheiNu 37
Blizzard YouTube
StarCraft: Brood War
BSLTrovo
sctven
[ Show 13 non-featured ]
StarCraft 2
• Berry_CruncH265
• AfreecaTV YouTube
• intothetv
• Kozan
• IndyKCrew
• LaughNgamezSOOP
• Migwel
• sooper7s
StarCraft: Brood War
• iopq 1
• BSLYoutube
• STPLYoutube
• ZZZeroYoutube
League of Legends
• Stunt468
Upcoming Events
OSC
2h 8m
WardiTV European League
5h 8m
Scarlett vs Percival
Jumy vs ArT
YoungYakov vs Shameless
uThermal vs Fjant
Nicoract vs goblin
Harstem vs Gerald
FEL
5h 8m
Big Brain Bouts
5h 8m
Korean StarCraft League
16h 8m
CranKy Ducklings
23h 8m
RSL Revival
23h 8m
FEL
1d 5h
RSL Revival
1d 23h
FEL
2 days
[ Show More ]
BSL: ProLeague
2 days
Dewalt vs Bonyth
Replay Cast
3 days
Sparkling Tuna Cup
3 days
The PondCast
4 days
Replay Cast
5 days
RSL Revival
5 days
Replay Cast
6 days
RSL Revival
6 days
Liquipedia Results

Completed

Proleague 2025-06-28
HSC XXVII
Heroes 10 EU

Ongoing

JPL Season 2
BSL 2v2 Season 3
BSL Season 20
Acropolis #3
KCM Race Survival 2025 Season 2
CSL 17: 2025 SUMMER
Copa Latinoamericana 4
Championship of Russia 2025
RSL Revival: Season 1
Murky Cup #2
BLAST.tv Austin Major 2025
ESL Impact League Season 7
IEM Dallas 2025
PGL Astana 2025
Asian Champions League '25
BLAST Rivals Spring 2025
MESA Nomadic Masters
CCT Season 2 Global Finals
IEM Melbourne 2025

Upcoming

2025 ACS Season 2: Qualifier
CSLPRO Last Chance 2025
2025 ACS Season 2
CSLPRO Chat StarLAN 3
K-Championship
uThermal 2v2 Main Event
SEL Season 2 Championship
FEL Cracov 2025
Esports World Cup 2025
StarSeries Fall 2025
FISSURE Playground #2
BLAST Open Fall 2025
BLAST Open Fall Qual
Esports World Cup 2025
BLAST Bounty Fall 2025
BLAST Bounty Fall Qual
IEM Cologne 2025
FISSURE Playground #1
TLPD

1. ByuN
2. TY
3. Dark
4. Solar
5. Stats
6. Nerchio
7. sOs
8. soO
9. INnoVation
10. Elazer
1. Rain
2. Flash
3. EffOrt
4. Last
5. Bisu
6. Soulkey
7. Mini
8. Sharp
Sidebar Settings...

Advertising | Privacy Policy | Terms Of Use | Contact Us

Original banner artwork: Jim Warren
The contents of this webpage are copyright © 2025 TLnet. All Rights Reserved.