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LocoDelAssembly
Your code has a bug


Joined: 06 May 2005
Posts: 4633
Location: Argentina
LocoDelAssembly
Post 15 Jun 2011, 05:17
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revolution
When all else fails, read the source


Joined: 24 Aug 2004
Posts: 17270
Location: In your JS exploiting you and your system
revolution
I've known about it for a couple of months now. Right now there is nothing I need it for, but I like the idea of it.

One needs to be careful to backup one's own currency (no banks to protect you here). Firstly to avoid losing one's savings. And secondly, since the currency is limited to ~21M, unrecoverable losses would shorten supply making inflation a problem.
Post 15 Jun 2011, 05:41
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vid
Verbosity in development


Joined: 05 Sep 2003
Posts: 7105
Location: Slovakia
vid
Yeah, I do. There are few ultralibertarians around who love the idea.

I agree there are many good points, but uncontrollable selling of drugs or weapons which bitcoins allows surely could be problem though.
Post 15 Jun 2011, 08:12
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Artlav



Joined: 23 Dec 2004
Posts: 188
Location: Moscow, Russia
Artlav
Heard of it a year ago, and tried to mine back then, received some as gifts. Got 115 coins. Forgot about it eventually.
Now they worth $20 apiece...

Damn, i have access to superclusters, and a little effort a year ago could have translated into ~$1e6 around now.
If only hindsight could be turned around. Smile

Sounds interesting enough, it is likely to pick up to some considerably useful level.
Already you can pay for your cellphone with them directly.

In theory, their price can only go up, since the supply is limited.
Assuming their common-day usage, ofcourse.

Quote:
uncontrollable selling of drugs or weapons
Happens already. I don't see how Bitcoins would change that, besides making laundrying money a little easier.
Post 15 Jun 2011, 08:53
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revolution
When all else fails, read the source


Joined: 24 Aug 2004
Posts: 17270
Location: In your JS exploiting you and your system
revolution
vid wrote:
... but uncontrollable selling of drugs or weapons which bitcoins allows surely could be problem though.
I think you have been listening to too much government propaganda. Wink If they can't control/monitor it then they make it sound evil. It's not the money that is evil, it is what some people do with it that is evil. Besides, cash is also untraceable, there are oodles of ways to launder it.
Post 15 Jun 2011, 09:00
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revolution
When all else fails, read the source


Joined: 24 Aug 2004
Posts: 17270
Location: In your JS exploiting you and your system
revolution
Someone loses 25000 coins (~$500,000) due to being hacked.

http://forum.bitcoin.org/index.php?topic=16457.0

Ouch!
Post 15 Jun 2011, 16:16
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f0dder



Joined: 19 Feb 2004
Posts: 3170
Location: Denmark
f0dder
Don't bitcoins mean you're a bit more traceable than when using normal physical currency?

Interesting idea, but it seems little more than a "here's something we can get rich off" scheme to me. And if it was ever to really take off, it would be shut down with extreme prejudice by various governments.
Post 15 Jun 2011, 17:37
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r22



Joined: 27 Dec 2004
Posts: 805
r22
Every bitcoin owner has a bitcon ID their "public key"
Bitcoin transactions are made in the open (propagating from node to node after the ownership is validated).
So, like an IP address if I know that public key X belongs to Y then I can see all the transactions that Y makes.

It's less anonymous than real money because real money only contains security to the point where you know the money is valid (not counterfeit). Electronic money like bitcoins add non-repudiation to every transaction.
Post 15 Jun 2011, 20:00
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masonswanson



Joined: 17 Aug 2010
Posts: 51
masonswanson
So Write A FASM Library To Work With Bitcoins Then Razz
Post 29 Oct 2012, 10:29
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