Bitcoins

Satoshi

citricsquid wrote: »

when I was a teenager I made some websites in my bedroom that went on to make millions, it's not impossible for valuable things to come from a dumb kid in a bedroom, regardless of their supposed "worth".

I am not well up on computers but there is this crypto currency software making program even someone like me could make a crypto currency in about 3 days and issue millions of units to people to try and get them being used.

I would make only 20million of them so its more rare than bitcoin and called it, Fastcoin.

If anyone here wants to promote it I will give you a few thousand of them for free. they will be worth million each soon you will see.

csm888

Satoshi wrote: »

I am not well up on computers but there is this crypto currency software making program even someone like me could make a crypto currency in about 3 days and issue millions of units to people to try and get them being used.

I would make only 20million of them so its more rare than bitcoin and called it, Fastcoin.

If anyone here wants to promote it I will give you a few thousand of them for free. they will be worth million each soon you will see.

You can also get a colour laser printer some nice paper and print your own bank notes. It doesn't mean anything unless someone recognises they represent value.

BoracicLint

Satoshi wrote: »

I am not well up on computers but there is this crypto currency software making program even someone like me could make a crypto currency in about 3 days and issue millions of units to people to try and get them being used.

I would make only 20million of them so its more rare than bitcoin and called it, Fastcoin.

If anyone here wants to promote it I will give you a few thousand of them for free. they will be worth million each soon you will see.

You're too late...Fastcoin already exists believe it or not! With a market cap of £1.3M too!

Satoshi

A few will get something for nothing and the rest will get nothing for something. Crypto is nothing, there is nothing there. I may sound like a hypocrite because I do not believe in crypto but I am buying it in the dips because I want to be in the crowd of a few getting something for nothing. But I know it is a risk. At sometime in the future there will be a rush from intangible (fiat/crypto) into tangible like gold and silver bullion.

BoracicLint

It's a shame, cryptocurrency in itself is a revolutionary concept, one which could change the way we conduct transactions forever, but there are far too many Bitcoin imitations now polluting the landscape that are nothing more than Ponzi schemes.

I genuinely believe that cryptocurrencies are here to stay, but the credibility of all of these coins, including Bitcoin is now at stake as speculation far outweighs those with real faith in the adoption of Bitcoin as a viable alternative currency.

I'm starting to doubt if society is ready and capable of a utopian system of exchange like Bitcoin.

hankkosovo

Does anyone know if I can buy bitcoin with GBP from crypto-trade?

BoracicLint

hankkosovo wrote: »

Does anyone know if I can buy bitcoin with GBP from crypto-trade?

I've not used crypto-trade before, but it looks a lot like BTC-e which is another exchange I use. I think you have to source the Bitcoin elsewhere like localbitcoins, which I have found very straightforward. Then just send them to your prefferred wallet from there

Satoshi

What a waste of energy mining for virtual units of currency. The world is in an energy crisis we are looking at a huge deficit going forward and after Fukushima the entire world wants to turn their back on nuclear generation. And after super typhoons and the worst natural disasters the world hates fossil fuel power generation which many are blaming for increases of natural disasters. Why are all these powerful computers around the world using up large amounts of power to solve blocks of problems said to have been created by Satoshi Nakamoto to try and make people think these virtual units of currency as the same as money gold and silver which need actual mining which also uses lots of energy. This almost infinitely complex mathematical block solving, that all this energy is being used for (wasted on) is just a charade to deceive people into thinking bitcoins are similar to gold and silver, but on top of all that power being wasted not producing anything even more power has to be given by the miners to run all the bitcoin systems around the world. The entire thing is a waste of energy as well as being very unstable and open to limitless problems that could make bitcoin go to its intrinsic value of nothing.

BoracicLint

Satoshi wrote: »

What a waste of energy mining for virtual units of currency. The world is in an energy crisis we are looking at a huge deficit going forward and after Fukushima the entire world wants to turn their back on nuclear generation. And after super typhoons and the worst natural disasters the world hates fossil fuel power generation which many are blaming for increases of natural disasters. Why are all these powerful computers around the world using up large amounts of power to solve blocks of problems said to have been created by Satoshi Nakamoto to try and make people think these virtual units of currency as the same as money gold and silver which need actual mining which also uses lots of energy. This almost infinitely complex mathematical block solving, that all this energy is being used for (wasted on) is just a charade to deceive people into thinking bitcoins are similar to gold and silver, but on top of all that power being wasted not producing anything even more power has to be given by the miners to run all the bitcoin systems around the world. The entire thing is a waste of energy as well as being very unstable and open to limitless problems that could make bitcoin go to its intrinsic value of nothing.

Have you read about Primecoin? This supposedly addresses this issue in that mining is used to discover Cunningham Chain prime numbers which have uses in other cryptography fields. It's still a colossal waste of energy though, I agree.

Satoshi

BoracicLint wrote: »

Have you read about Primecoin? This supposedly addresses this issue in that mining is used to discover Cunningham Chain prime numbers which have uses in other cryptography fields. It's still a colossal waste of energy though, I agree.

Primecoin sounds great but what does this add to mankind? Even if al these prime numbers were discovered how does it benefit mankind?