Topic: Peeps with serious cash and banking contacts just heard about bitcoin. - page 2. (Read 3333 times)
December 30, 2011, 03:29:58 PM
Yeah I'm getting a bit tired of how 5 million coins were given out for one tenth of a cent and then the rest of us are expected to pay at least $4 for them.
December 30, 2011, 01:20:32 PM
Sweet, where can I buy Nakamuru's centralized currency? I'd like to diversify in case bitcoin doesn't work out.
December 30, 2011, 12:25:01 PM
Quote
Centralized inspection ensures that the coins are mined at a pace determined in advance. The principle of mining ensures that the currency will never suffer from inflation. The quantity of coins is limited and supervised by a central agency.
They certainly did their homework!
LOL. perhaps deception is the best way to advance our cause?
edit: Bitcoin is a centralized, closed source, inflationary fiat currency, designed to promote maximum leverage, manipulated by our glorious Fed for the purposes of enriching the 1%. did i get that right?
December 30, 2011, 12:15:19 PM
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An inflexible limit of about 21 million coins has been set, which will be reached around the year 2140.
Wow I thought it was sooner than that?
No that is right however due to halving of block rewards we will have 99% of coins minted by 2030 and 94% by 2020.
https://en.bitcoin.it/wiki/Controlled_Currency_Supply
December 30, 2011, 12:10:55 PM
Quote
An inflexible limit of about 21 million coins has been set, which will be reached around the year 2140.
Wow I thought it was sooner than that?
December 30, 2011, 12:10:40 PM
I know this isn't the most fantastic explanation of bitcoin. Unless you look at the positive vs negative adjectives in the article.
However, the question is what this ,if anything, will do to prices? Particularly with the almost hype spin (in investment for conservatives terms) on some of this stuff.
Is a fair simile for what the code does if it were to be put in fairly old school fiat terms.
Unless you look at the positive vs negative adjectives in the article.However, the question is what this ,if anything, will do to prices? Particularly with the almost hype spin (in investment for conservatives terms) on some of this stuff.
Quote
Centralized inspection ensures that the coins are mined at a pace determined in advance. The principle of mining ensures that the currency will never suffer from inflation. The quantity of coins is limited and supervised by a central agency.
Is a fair simile for what the code does if it were to be put in fairly old school fiat terms.
December 30, 2011, 12:08:54 PM
Quote
Centralized inspection ensures that the coins are mined at a pace determined in advance. The principle of mining ensures that the currency will never suffer from inflation. The quantity of coins is limited and supervised by a central agency.
They certainly did their homework!
How the hell did they get that wrong. I mean it is a cornerstone of crypto-currency.
December 30, 2011, 12:04:53 PM
Quote
Centralized inspection ensures that the coins are mined at a pace determined in advance. The principle of mining ensures that the currency will never suffer from inflation. The quantity of coins is limited and supervised by a central agency.
They certainly did their homework!
derp derp derp
edit: At least rich folks heard about it, so if it's not very correct, they'll figure it out sooner or later anyways.
December 30, 2011, 11:56:07 AM
Nakamura? They must mean satoshi
December 30, 2011, 11:44:27 AM
up, up, and away!
hey man if they're buying and not mining, they're my new best friends.
hey man if they're buying and not mining, they're my new best friends.
December 30, 2011, 11:41:23 AM
http://www.haaretz.com/weekend/magazine/money-shiny-new-coins-1.404597
I'm kind of curious to see what, if any, effect this will have on BTC prices.
I'm kind of curious to see what, if any, effect this will have on BTC prices.
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