I must have clicked on it by accident while on piratebay for educational purposes. Everything the page says is true except the idea that you can make a profit when the last bitcoins are mined out. That's speculation. Bitcoin mining rate decreases as more coins are mined. Fewer coins are left. So it's not like the last twinkie will suddenly be made and no more. Rather, twinkie production will gradually decrease so there won't necessarily be a large spike.
TLDR, it sounds like people are trying to become intermediaries for bitcoins and are trying to make money from that.
guys, overstock just made BTC available as a payment option despite saying it would come 6 months later. it is officially LIVE. you can check out their page in-person.
On January 10 2014 03:21 Ender985 wrote: TL;DR: Not much electricity consumed by the bitcoin network at the moment.
A different story would be to estimate what would be the consumption in a few years if the hashrate keeps climbing up exponentially as it is doing now. Then we might start seeing BTC minig corps buying small nuclear powerplants for themselves lol
Cheers, sounds like a reasonable estimate. I was curious because people boasting that the bitcoin mining network is the biggest computing network in the world but then claiming there is no environmental impact doesn't really make much sense.
I was looking at the price of bitcoins on bitcoinity.org/markets, because I'm interested in buying eight centibitcoins for fun, and noticed that the price is different on the different markets (bitstamp, btce, mtgox, bitfinex). On mtgox it is 100 dollars more expensive per bitcoin than on the others. How come? What stops people from buying a lot on the others and then selling them on mtgox?
Also, has anyone else had problems creating an account on mtgox. They needed a picture of my ID but the website doesn't take the jpgs, pngs or pdfs I try to upload.
Different exchanges have a price disparity depending on how easy it is to deposit and withdraw fiat (mostly USD) in and out of them.
Mtgox is based in Japan and withdrawing internationally can take up to a couple months.
Also the verification process can take a couple weeks.
If I were you I would google "sweden bitcoin forum" and you will probably find a faster/cheaper way to buy a small amount of btc. Maybe even someone will be willing to send you some for paypal or something like that.
Alot of people think: where can i buy bitcoins and how do i get them?
True its kinda hard to act on an official exchange to buy and sell bitcoin cause you have to register and give id etc. Also with paypal you have to jump through a couple of hoops to register. this by the way is not the reason why bitcoin is considered easier then paypal.
bitcoin is easier than paypal if you already own them. just scan the address, type amount. boom -> its there. no fees. almost instantly.
Example: yesterday my brother was in a bar accepting bitcoin here in berlin. wrote me a message to send some coins on to his phone cause he had no cash. i sent it and this was instantly there. he could by a couple of beers. again: no fees, instantly and it would work around the whole world.
Another ways to get bitcoins people seem to forget sometimes
Someone owes you money who ownes bitcoin? - Get it in Bitcoin! Have a company? - Accept Bitcoins! Offer a service? - Accept Bitcoin! Sell Stuff! - Again for Bitcoin!
@Litecoin: Bigger short term potential. Long term i woulnt bet on it.
On January 13 2014 19:12 xanatas wrote: Example: yesterday my brother was in a bar accepting bitcoin here in berlin. wrote me a message to send some coins on to his phone cause he had no cash. i sent it and this was instantly there. he could by a couple of beers. again: no fees, instantly and it would work around the whole world.
While I see what you're getting at, your example with your brother is kind of esoteric and still doesn't explain why you'd use it over a traditional credit or debit card unless you simply had neither. If I'm at a bar with no cash, I still have access to the entirety of my checking account with my debit card, and if I don't have enough in my checking, I can charge a few thousand dollars with 0% interest on my credit card.
On January 13 2014 19:12 xanatas wrote: Someone owes you money who ownes bitcoin? - Get it in Bitcoin! Have a company? - Accept Bitcoins! Offer a service? - Accept Bitcoin! Sell Stuff! - Again for Bitcoin!
From a vendor's perspective, I wouldn't want to accept bitcoin due to its volatility. What's my incentive to accept a currency whose value will likely change dramatically by the time I cash it out? The only incentive I can think of is faith in an updward trend of the currency's value. Or in the rare circumstance where a customer has no other means of purchasing the product other than through bitcoin.
I know I'm oversimplifying things a bit, but I simply don't see the need for bitcoin when dealing with typical merchants, and I imagine that there is almost always a more convenient and business-friendly method of payment under normal circumstances.
From a vendor's perspective, I wouldn't want to accept bitcoin due to its volatility. What's my incentive to accept a currency whose value will likely change dramatically by the time I cash it out? The only incentive I can think of is faith in an updward trend of the currency's value. Or in the rare circumstance where a customer has no other means of purchasing the product other than through bitcoin.
Of course you wouldn't want to hold bitcoin as a business. Fortunately, Merchants don't have to hold bitcoin, they use services like bitpay so consumers can spend their bitcoin and the merchant gets fiat. The more this is put into practice, and the more widespread bitcoin becomes across the supply chain, the more bitcoin will be used/spent instead of converted. If that happens, well you'd better hope you have some bitcoin.
How much of the Bitcoin hype is going to get extinguished after this becomes publicized? Do you think some of the companies that were pioneering the "We accept Bitcoins" fad are going to remove that option?
There is no vice president of Bitcoin. They are prosecuting a by now rather unimportant Bitcoin exchange.
Very good overview over Bitcoin:
The first half hour won't be terribly new to anyone who is familiar with Bitcoin, but the expert uses interesting approaches to explain Bitcoin. The second half is an excellent outlook to the yet unexplored potential of the Bitcoin network, namely scripted transactions. Highly recommended.
Can someone please explain the process of mining bitcoin. I know its the method of introducing new "currency" into the system but I don't understand how it works in relation to "blocks".
On January 29 2014 14:50 FreedomMurder wrote: Can someone please explain the process of mining bitcoin. I know its the method of introducing new "currency" into the system but I don't understand how it works in relation to "blocks".
EPT
