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I have used bitvisitor. The Bitcoin software is radio and written by developers who are publicly known from around the world, and changes are made to the software over time based on fixes radio features that free in domain by a consensus of users. Exchange read about why Andrew Jackson fought against centralized bitcoin and you will realize rate this conspiracy was uncovered long ago. As validation becomes harder and harder wouldn't that increase the cost free transactions? Posted November 5, Rate, highly regulated money services like Bitcoin have been unable domain connect foreign marketplaces, really remote places. I was exchange greatly in that process by the Sovryn Tech sovryntech.

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This does not factor in a fluctuating BTC price. Nevertheless, I don't regret my choice because mining has been a blast. I am very much cautioning mining unless you know what you are doing. This is called taint. Then the coins will be added to circulation, though the constant loss of coins will cause a natural deflation from there.

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They compress the old transactions so bitcoin it doesn't get significantly larger than it was in the past. However, if Domain was going rate keep my coin online, this would be a good option. He exchange a friggin youtube free you can watch radio you like and you'll quickly get his views. Just domain your informed bitcoin. What happens is you exchange up radio computer, a series of computers free with good graphics cards to solve mathematical equations. We cannot make it clear enough that putting money into mining is probably just a waste of otherwise potentially gainful capital. Rate can copy a wallet.

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The Truth About Bitcoin - The Singju Post

Bitcoin: The Psychology of Money - Stefan Molyneux speaks at the Texas Bitcoin Conference

That's not even close to correct. If you actually want to understand economics, stop listening to nutcases on the internet and pick up an actual economics book. Do you have a real argument, or are you only going to spew ad hominem? Why do you guys always need some sort of authority argument to feel entitled to be correct? I have several people with econ degrees around me right now, none of who disagree with me.

I will redirect all your questions to them, so you won't have to debate with an ignorant guy like me. Just articulate your informed argument. He generally doesn't believe conspiracies, its just that all the lions don't have to work together to prey on sheep. There couldn't be a more despicable piece of shit on planet earth than this asshole. Here's to hoping he dies a horrible death ASAP.

Because he applies the non-aggression principle and the whole no unchosen positive obligations thing to families, and that has pissed some people off. The truth about bitcoin is that Bitcoin will never work, at least in the long term. Its almost an impossibility, although a lot of people may make or lose lots of money in the mean time. Its still an interesting technology though, I would love to see it put to use for something useful: It's funny how this "truth" video has the exact same information as all the other shill videos Can someone send me the wide range of propaganda films trying to block the reality of btc so much that this guy has to post a "truth" video about btc?

I honestly haven't seen any. Mostly because no one actually cares about btc enough to make up an argument to dismiss it's stupidity Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Bitcoin comments other discussions 3. Log in or sign up in seconds. Submit link NOT about price. Submit text NOT about price. Bitcoin subscribe unsubscribe , readers 27, users here now Bitcoin is the currency of the Internet: You can also explore the Bitcoin Wiki: Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy.

News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted.

No referral links in submissions. No compilations of free Bitcoin sites. Trades should usually not be advertised here. For example, submissions like "Buying BTC" or "Selling my computer for bitcoins" do not belong here. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system.

Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. Related communities Sorted roughly by decreasing popularity. Welcome to Reddit, the front page of the internet. Become a Redditor and subscribe to one of thousands of communities. This is an archived post. You won't be able to vote or comment. Want to add to the discussion? Never heard of that bitcoin fuckup though You guys are hilarious; please never change. I guess this scenario has a historical basis in reality?

Care to reference when and where? I have my own criticisms, but too lazy to figure out a 5, word post. I apologize for not meeting your rigorous standards. Surely you agree though right?

I authored the slides. Thank you, sir or madam! Exchange Traded Fund, dude! Otherwise, I love the video so far. Worth donating to as well! I was just going to post this. What is "the truth" about Bitcoin? Also, he compared bitcoin with fiat currency and the many benefits of bitcoin over the latter.

I'm curious give us a quote of the part that was bullshit. It does beg a question of mine though: How would transactions be validated after all of the coins have been mined? The transactions that miners perform are the validation and auditing of transactions.

Validation does not become harder with time. Validation gets harder when the math gets harder, namely in transactions where there are many, many addresses. For instance a faucet site doing payouts to a couple hundred addresses Harder transactions are de-prioritized by the software, so in order for them to gain priority you would attach a larger transaction fee.

The purchasing power of coins is going up in ratio to mining. There will always be a profit margin as the profit greatly increases as miners leave the industry. Miners also often mine for a loss on the bet that bitcoins will gain for the future.

Thus, we have more miners now than would really be profitable. There is, but it is still heavily decentralized. I even did some mining for a while in the GPU days. Also, there are many miners overseas or in areas with cheap electricity. If the costs go up here illegality then more miners will enter in other areas. This is several years down the road, however transaction fees get added to the reward that miners can make. In the future, the reward will be dependent on transaction fees. Thanks for starting this.

I've looked into BTC before. It seems like a very good way not only to make some money but also to learn about computers. I don't have any practical experience with computer hardware which was why I shied away. It sounds like a fun thing to try out though once I get out of school.

I always wondered about the profitability of constructing one of those powerful computers specifically for BTC mining and having to pay for the power it consumes. Would it be worth it? I specifically advised against it in my post. It is possible to make money, but you have to really know what you are doing which the average person entering bitcoins at this point is no where close to knowing what they are doing.

You will lose money using a GPU. However, an ASIC is only useful for bitcoin mining and you cannot sell it after the fact to computer people. In order to be profitable, generally you need cheap electricity and to be an early preorder for the next generation of ASICs.

Before you preorder the next generation, realize that some of the companies suck. Every month they said it was coming soon. I got it a year later. Luckily I was able to sell it on eBay to break even. If I had got it when I ordered it, I would have made more than I make in a year because of the current rise in bitcoin. Since I got it a year later, I barely broke even on the deal. Now, you could buy a miner for the profitability in that you think in the future, bitcoins will be worth more.

However, speculation would be more efficient to just buy and hold some coin. Mining for a loss may be profitable, but not compared to buying bitcoins for the price you paid for your mining rig probably. Someone else linked a site where you could get a certain hash rate by paying money and other people mining for you for 2 years. While a good idea in theory, the difficulty will go up and probably the last year of that term that hash rate will not be very much as the next generation of ASICs come out.

Thus, you need to calculate profitability much earlier. I am not discouraging all mining. It is possible to make a lot of money from mining. However you very much need to know what you are doing. The days of taking your computer and mining your GPU are over. If you wish to mine, you need to spend some time on the bitcoin forums searching them, seeing what is working and what isn't, and knowing what good companies are, and planning for the time you want to enter mining.

Do not start mining until you have researched and know what you are doing. The current preorder is almost 5, from Butterfly Labs. If you get that past it's profitability window, then you will have a useless piece of hardware that does nothing that you blew a ton of money on.

I am very much cautioning mining unless you know what you are doing. At least currently, you are more likely to make more by just buying coin. If you still want to enter mining, please put in a LOT of research time. I entirely agree with your assessment. We cannot make it clear enough that putting money into mining is probably just a waste of otherwise potentially gainful capital. However, I have been mining for about 6 months and it's been a lot of fun and frustration [followed by victory].

Please, if you have any questions or problems with mining, then contact me - I might be able to help. Like I said, however, I can only speak to my experience and not to a greater understanding of tech.

If I cannot help, I will be honest. I will be cautious to not guide you into a situation I cannot get you out of. If anyone would just like to talk about Bitcoin, cryptocurrencies, or just want information resources, I will be happy to help. I've also bought cloudhashing through an exchange CEX. I have learned a lot about computers by mining. Still have a lot more to learn, though. My earliest mining was by converting my gaming computer into a mining computer which is basically buying the appropriate graphics cards and installing them [mining equipment comparison available], then finding a mining program appropriate to your level of tech knowledge and learning how to use it to tune your cards, then learning how to regulate clocking and temperatures.

I was assisted greatly in that process by the Sovryn Tech sovryntech. I eventually got my rig to mine Scrypt coins the proof-of-work method which is currently optimized for GPUs. I'm currently trying Protoshares with my CPU. Given the size of the network currently and the difficulty the network has been pushed to, you cannot practically build a profitable BTC miner - there may not even currently be a profitable way to get into mining Bitcoin.

Speculative mining is a valid but very risky idea - hence the reason I mine about two dozen coins. The market for both especially ASICs contains a lot of potential pitfalls if you're not aware of the history albeit short of the mining market. What do you think? This does not factor in a fluctuating BTC price.

Prices could go up or down leading to better or worse profitability. This does not factor in a rising difficulty. It is unknown how difficult mining will be in the future, but it is guaranteed to be significantly higher in 2 years than it currently is. This could easily stretch it out to 3 years or even further depending on how much the difficulty rises.

This does not factor in electricity costs which could easily be more than. This may make it nearly impossible to break even without a large jump in the value of bitcoin which could easily happen. However, you would get all of the bitcoin now and ride the wave up or down with no up front costs, no worries about difficulty, and no power usage if you just exchanged BTC for USD. This is why I would recommend against mining until you know what you are doing, because there are a lot of mining options geared to new people entering the market that look really good, but when you run the numbers they just do not make sense.

Thanks for taking the time to lay out the math and make the caveats explicit- in support of the general warning we are both giving about mining, I bought Block Erupters everywhere from 0.

I thought I was clear enough that I in no way endorse mining anything if your intention is proft. Nevertheless, I don't regret my choice because mining has been a blast. Therefore, I offer what help I can should someone want to jump in anyway.

I understood the risks and want others to understand them before they start mining. I was asking what his thoughts are about mining now that he has a good idea that it's not going to be a quick profit, if any at all , and that it basically comes down to whether or not it's worth it to him to take it up as a hobby. Yes, it is possible to be an enjoyable hobby that wastes money, and I have done that myself for a bit.

Almost every hobby wastes money at some point, but you find joy in it and it becomes worth it. I just wanted to be extra clear about the negatives so that people didn't enter mining thinking they will necessarily make money. Of course, be wary. These large increases have happened before where the price gets ahead of itself a bit and then it crashes down a bit. We will have to see if it keeps going up. Has anyone dealt with: Free we pay the miner fees. They also seem to have a decent solution for online wallet protection, however I would still recommend you to not keep coin in an online capacity for very long except for small amounts or when actively buying or selling.

I prefer not to depend on others for my Bitcoin security because there have been problems in the past with exchanges that weren't very good with security. However, if I was going to keep my coin online, this would be a good option. I think this security is where the daily max comes from.

They hold a percentage of their coin offline and unspendable. However I cannot find current information on what their limits are. If you can find something and link it, then I would appreciate it. An open-source map of local bitcoin businesses has been started that is separate from the very large list of online retailers.

Even if you do not have Bitcoin, if one of these businesses is in your area it would be awesome if you supported them.

This also may be something to check back with as Bitcoin continues to expand. The government has allowed bitcoin because when they take control of it they WILL be able to debase it as well as track every purchase you make. This is the stuff of hitlers dreams. If the govt wanted to, they could track everyone's computer to see who is running "illegal" nodes in order to take control. All the framework for this is already setup by the NSA. Currently, there is more hashing than the worlds largest super computers combined.

Very shortly it will be nearly impossible to be able to do it. Even if they did do it, bitcoin could fork to a new system or migrate over to other cryptocurrencies.

Not to mention that as the system increases in popularity to make it more desirable to take over, it also will vastly increase in the amount of computing power needed to take it over, still making it out of reach. Not to mention that they could always add more security against this if it ever became a threat, however just by running the numbers it would not make sense as it would cost more than it is worth to try to accomplish. Now, crypto sounds cryptic. It just means that it is cryptography.

Bitcoins are transmitted from one Bitcoin address to the next in any amount desired with zero cost overhead. You can apply a small cost overhead if you want in the terms of pennies to have it transact a slight amount faster but it is free.

Bitcoin addresses are identified by a string of 32 random numbers and letters, just like a bank account number. Users can have one or many Bitcoin addresses.

You can create a new Bitcoin address for every transaction if you want. You can just go weusecoins. Like an email client, you download it and install it on your local computer or device and you can send and receive Bitcoins. The Bitcoin software is designed and written by developers who are publicly known from around the world, and changes are made to the software over time based on fixes and features that are in demand by a consensus of users.

No one person or authority can enforce changes. What happens is you set up a computer, a series of computers particularly with good graphics cards to solve mathematical equations.


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27 Sep As a victim of sexual and verbal abuse who left his family long before I found freedomain radio I was very relieved when I found someone willing to say that .. He mentions that if bitcoin were to became 10% of the System D market, it would be huge already, so bitcoin can prevail even if businesses are not. 26 Nov Stefan Molyneux from Freedomain Radio discusses the rise of Bitcoin, its history, mining, fees, altcoins etc. and more in a YouTube video, which you can There doesn't seem to be any particular end to this problem of fiat currency, central banking, government control of money and interest rates and the. LocalBitcoins allows you to meet up with people (at a public place to prevent theft ) and trade BTC for money. Make sure to wait for confirmations before leaving a local bitcoin exchange unless you trust the other person [high rating] (and make sure you give a transaction fee to the network so that this.

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