Bitcoin
Litecoin
Dogecoin
Darkcoin
and etc?
I'm just curious.
:zombie: http://en.wikipedia.org/wiki/Cryptocurrency
Litecoin
Dogecoin
Darkcoin
and etc?
I'm just curious.
:zombie: http://en.wikipedia.org/wiki/Cryptocurrency
Is anyone here into Cryptocurrency?
- Thread starter SocialNumb
- Start date
ForHerDeadEyes
Señor Member
BearOnGuitar
Member
LeSedna
Mat or Mateo
got interested too late. I should have taken it seriously years ago considering how the bubble exploded.
Lucky bastard.
Can't be all that useless.
http://www.washingtonpost.com/blogs...nascar-will-race-in-the-sprint-cup-at-sonoma/
The dogecoin meme community sent this guy to nascar.
I've been collecting all kinds just incase we get another bitcoin.
http://www.abc.net.au/news/2014-06-...ase-new-rules-on-bitcoin-transactions/5511624
More and more places are starting to take them too. There is even cryptocoin ATM's. :zombie:
~BURNY~
Member
- Apr 20, 2005
- 5,091
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AD Chaos
MGTOW
- Aug 3, 2009
- 1,602
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Cryptocurrencies sound like a better alternative to fiat money..
..until you realize they're Ponzi schemes. Even more so than fiat money.
http://www.youtube.com/playlist?list=PLNK_isA40yp3U_xMFW4Fu9Pn3_KR_b9zx
..until you realize they're Ponzi schemes. Even more so than fiat money.
http://www.youtube.com/playlist?list=PLNK_isA40yp3U_xMFW4Fu9Pn3_KR_b9zx
Last edited by a moderator:
He's Dead, Jim
Member
I'm going to go ahead and not use disappearing internet currency from Magic: The Gathering Online Exchange (Mt. Gox)
AD Chaos
MGTOW
- Aug 3, 2009
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Loren Littlejohn
Lover of all boobage.
TBH I don't know enough about it to have an opinion. I know it's not a good idea to throw around money on something you don't understand though.
Also: How the fuck do you even spend it OR cash it in?
Also: How the fuck do you even spend it OR cash it in?
He's Dead, Jim
Member
Despite all the money people waste on the stock market, most reasonable people will say that the value of a stock is represented in its price. That is to say, you can almost never "beat the market" by purchasing a cheap stock and having the price shoot up later. That may happen, but on average, you will neither lose nor gain more money in the stock market than you put in, because enough people have thought about this stuff for a long enough time that, on balance, X dollars = X dollars at the end of the day, taking interest rates and whatever else into account. In other words, gambling is a bad idea.
BitCoin fanatics suggest that, in addition to being a unit of exchange, it's an asset that will gain value over time, which means that the law I just described applies to it. Along with the wholesale disappearance of Mt. Gox, I would suggest that BitCoin is eventually going to lose its value enough that the money people put in equals the money they get out- or worse, it will lose value as an investment. It's stupid to gamble on the stock market (that's why mutual funds exist), and it's stupid to play currency arbitrage with money that was invented by a bunch of internet nerds and not a responsible central bank.
There are all sorts of horror stories about complete nincompoops who have done precisely this. A couple of months ago on reddit I saw a guy who admitted to spending his sister's inheritance money gambling on BitCoin.
Flow Of Time
Member
- Oct 6, 2012
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The simplest way I can explain it is: It's like cracking a code/encryption, only they call them "blocks". You join a "pool" to get it done faster. More computers all cracking the code/encryption the faster it gets done. The "block" then rewards you with the coin/s and is divided among everyone involved.
Hope that made sense.
Hope that made sense.
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