carrots
Topic: What weird shit do people fixate on when they criticize bitcoin? - page 2. (Read 2151 times)
That is somehow must be a ponzi scheme or pyramid scheme.
Now when I talk to people, I always explain up-front that the mining payout is a side-effect of securing the block chain. The payout isn't the purpose of mining.
The initial perception is that it's somehow free money, so it must be a scam.
Now when I talk to people, I always explain up-front that the mining payout is a side-effect of securing the block chain. The payout isn't the purpose of mining.
The initial perception is that it's somehow free money, so it must be a scam.
How is intrinsic value "weird shit"?
carrots
bitcoins are backed by time or proof of work, it's the only currency to take time into account when dealing with money
The whole "OMG finding hashes is wasting computing power" argument.
Guess what jackwagons, if there wasn't any WORK required, the blockchain would be completely useless. The fact that the miners are securing MILLIONS of < Insert currency > by doing their 'useless work' doesn't even occur to these fools.
Anything worthwhile requires effort, a simplistic 'efficient' system can be gamed and exploited. It annoys me to no end that articles and glib blog posts trot out the hashing == waste thing. It's convenient, I suppose, if you don't understand bitcoin nor want to make any effort in doing so.
Guess what jackwagons, if there wasn't any WORK required, the blockchain would be completely useless. The fact that the miners are securing MILLIONS of < Insert currency > by doing their 'useless work' doesn't even occur to these fools.
Anything worthwhile requires effort, a simplistic 'efficient' system can be gamed and exploited. It annoys me to no end that articles and glib blog posts trot out the hashing == waste thing. It's convenient, I suppose, if you don't understand bitcoin nor want to make any effort in doing so.
That bitcoin is not truly anonymous because 'may attract the same attention as hydroponic cannabis farms in lofts spitting out a big red heat map'.
A friend of mine is determined that digital currency can only work if it backed by gold (or something) and has regulations exactly like the current system in alot of ways.
The regulation part is tricky, because clearly thats the only thing that saved it from the mtgox hacking.
The regulation part is tricky, because clearly thats the only thing that saved it from the mtgox hacking.
'intrinsic value'
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