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2jew4u
Stranger
Registered: 04/07/11
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Bitcoin
#14569467 - 06/06/11 01:33 PM (12 years, 7 months ago) |
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So if sites like Silk road or what not are closed down- will bitcoins still be valuable?
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Bitcoin [Re: 2jew4u]
#14569546 - 06/06/11 01:53 PM (12 years, 7 months ago) |
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and therein lies the inherent risk.
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ChuangTzu
starvingphysicist



Registered: 09/04/02
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Re: Bitcoin [Re: 2jew4u]
#14569622 - 06/06/11 02:11 PM (12 years, 7 months ago) |
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I'm trying to think of a way "they" could shut it down. It wouldn't be easy.
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
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what's the difference between bitcoin and any other currency, CHangTzu? Why would "they" shut it down?
U expect it to go viral?
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
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Re: Bitcoin [Re: memes]
#14569815 - 06/06/11 03:02 PM (12 years, 7 months ago) |
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nvm, realized in pub thread that bitcoins would obviously be used to buy drugz!
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ChuangTzu
starvingphysicist



Registered: 09/04/02
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Re: Bitcoin [Re: memes]
#14580634 - 06/08/11 04:19 PM (12 years, 7 months ago) |
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Quote:
meams said: what's the difference between bitcoin and any other currency, CHangTzu? Why would "they" shut it down?
U expect it to go viral?
I'm not talking about shutting down bitcoin itself, though the issue of "they" shutting down alternate currencies is interesting, because it does seem to happen. The OP and I were talking about a website which serves as a marketplace on the Tor network. Since illegal shit is often sold on this website, it's conceivable that "they" might want to shut it down at some point. Since the site is only accessible through Tor, this wouldn't be easy.
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saxx
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Re: Bitcoin [Re: memes] 1
#14580737 - 06/08/11 04:40 PM (12 years, 7 months ago) |
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Quote:
meams said: what's the difference between bitcoin and any other currency, CHangTzu? Why would "they" shut it down?
U expect it to go viral?
I'm glad you don't know shit about bit coins, or grammar.
-------------------- sucking dick for drink tickets at the free bar at my cousin's bat mitzvah zappateer said: I'm not wasting time at school. I'm gaining hella knowledge and life experience, not trying to use my degree for financial gain.
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whiteelephant
Nod Scene

Registered: 07/16/10
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Quote:
ChuangTzu said: The OP and I were talking about a website which serves as a marketplace on the Tor network. Since illegal shit is often sold on this website, it's conceivable that "they" might want to shut it down at some point. Since the site is only accessible through Tor, this wouldn't be easy.
Not only would it be extremely difficult, it is really just futile anyway.
Remember what happened with the Pirate Bay raids. They were "shut down" and news articles flew up stating victory over the pirates, and then the site went back online days later on another server. There are servers all over the globe now, just to make sure it stays online.
Places like Silk Road can exist by these same methods and are generally kept much more quiet. If it gets shut down and the demand still exists for such a place, someone else will build one.
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Beck180
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Registered: 10/06/19
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Re: Bitcoin [Re: 2jew4u]
#26264853 - 10/20/19 07:54 AM (4 years, 3 months ago) |
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My concern is that Bitcoin is reliant on the fact that there are people willing to put in the cpu cycles to mine for the possibility of more bitcoin. When I looked, albeit a few years back, there were a finite amount of coins, some concern about how large miners were close to a point where they could guarantee results and push out the smaller players, and the easy money is gone. When it becomes cost prohibitive to mine, cycles go offline, the ability to process transactions dies, and the money can't move- making it worthless.
That said, people are making good money in it. I guess as long you as you view it as a game of musical chairs, you will be fine.
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Bitcoin [Re: 2jew4u] 3
#26264887 - 10/20/19 08:12 AM (4 years, 3 months ago) |
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Quote:
2jew4u said:
06/06/11 09:33 PM (8 years, 4 months ago) will bitcoins still be valuable?
06/06/11 bitcoins
-------------------- Omnicyclion.org higher knowledge starts here
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Quote:
Beck180 said: My concern is that Bitcoin is reliant on the fact that there are people willing to put in the cpu cycles to mine for the possibility of more bitcoin. When I looked, albeit a few years back, there were a finite amount of coins, some concern about how large miners were close to a point where they could guarantee results and push out the smaller players, and the easy money is gone. When it becomes cost prohibitive to mine, cycles go offline, the ability to process transactions dies, and the money can't move- making it worthless.
The network should adapt to adequately compensate miners via transaction fees once all coins have been mined. There are also new phones coming into production like the HTC Exodus 1s that incorporate the ability to run a full bitcoin node on the device. As computing power becomes ever more ubiquitous, it should be reasonable to expect that the prevalence of your average user being able to run a node will continue to increase, thereby keeping the technology secure.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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High Night Expanse
Vast Embrace ♬

Registered: 11/07/18
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Re: Bitcoin [Re: Asante]
#26314269 - 11/11/19 05:28 PM (4 years, 2 months ago) |
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Quote:
Asante said:
Quote:
2jew4u said:
06/06/11 09:33 PM (8 years, 4 months ago) will bitcoins still be valuable?
06/06/11 bitcoins

Seriously. Slap those kids & tell them to hold.
.....
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