joustmaster
offcumdun
illegal stuff
Bitcoin discussion and news
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grit
an ugly force for good
spawnofsatan
Down by the river
camouflage
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Gambling and that silk road site. I noticed some pretty good deals on the silk road site. Didn't buy anything but if I were minded to try mescalin right now... fuckit if I were minded toward an 8th right now I prolly would but not sure about postal delivery on that sort of thing.
spawnofsatan
Down by the river
Have you used silk road before, heard mixed reviews? Was a member of the farmers market, but the prices were daft.
joustmaster
offcumdun
The constantly changing exchange rate is causing a lot of juggling on silkroad. Buying and selling
grit
an ugly force for good
Its down at the moment.
camouflage
gaslit at scale.
No I've not used the site yet as I've been behaving myself.
The prices were daft as in really really cheep right? If I were a farmer, I would have sold that cheaply too, and yesterday would have found my takings peak in value. Today btc is 1 to 1.80, but in the long run theres far to go yet.
The prices were daft as in really really cheep right? If I were a farmer, I would have sold that cheaply too, and yesterday would have found my takings peak in value. Today btc is 1 to 1.80, but in the long run theres far to go yet.
camouflage
gaslit at scale.
No it's not, I'll pm you a link if I can find it...
spawnofsatan
Down by the river
No, the prices for UK sent smokeables were extremely high. Made the usual MoM's look cheap.
camouflage
gaslit at scale.
Foolish strategy in my opinion. IF I were a grower I'd undercut all those fools right now. As silkroad and gamblings sites increase in popularity the demand for bitcoin goes up, not to mention as difficulty goes up miners are investing more an more in capital expenditure which in my opinion stiffens up the price floor.
It's all terribly instructive.
skyscraper101
0891 50 50 50
You generate bit coins using a free application called a bit coin minermining requires a certain amount of work
for each block of coins
How many people, really, are likely to bother getting enthused with all that ambiguity going on? How is this that much different to the failed web currency beenz which despite the original hype during the dot com bubble era basically failed because it was too complicated, not enough people participated, and you could just use, well, real money to buy things instead. Likewise if I want to send money to someone I could just use paypal.
grit
an ugly force for good
Everything looks extremely expensive.
grit
an ugly force for good
How many people, really, are likely to bother getting enthused with all that ambiguity going on? How is this that much different to the failed web currency beenz which despite the original hype during the dot com bubble era basically failed because it was too complicated, not enough people participated, and you could just use, well, real money to buy things instead. Likewise if I want to send money to someone I could just use paypal.
The defining difference between something like beenz or any other "egold" currency is that this is a distributed model. No one single entity owns/controls it.
Corax
Luke 5:16
Don't you think it would be of benefit to microbusinesses, developing world start-ups/subsistence enterprises etc though?
skyscraper101
0891 50 50 50
Amazing. Sign me up now.
grit
an ugly force for good
Pretty much the exact same response from someone, anywhere in the world, who cant use paypal/Wu/Bank/whatever (and without the fees).
Its not being positioned to replace currency being used in the street.
skyscraper101
0891 50 50 50
Right, so paypal, which basically just let's you send money to anyone with an email address and only requires you to create a username/password, and input your bank details to get going, is more complicated than installing some kind of app which does a kind of 'virtual mining' which then gets you some virtual money which is then only earned after the app has done (in their words) 'a certain amount of work' and then which is 'adjusted by the network' (whatever that means)?
spawnofsatan
Down by the river
Paypal charges fees unless you send as a gift, plus accounts are closely watched, which isn't good if you are using it for products which aren't legal.
grit
an ugly force for good
No, while the currency is being introduced this mining is essentially bootstrapping it. Any machine connected, processes transactions on behalf of other users in return an amount of coins are deposited randomly to the machine (this is a variable that is calculated based on several market variables). The amount of coins increases or decreases depending on the amount of nodes in the network, regulating inflation and deflation to keep it stable.
There is a hard (arbitrary) cap of 21 million "coins". However if the network continued to grow past that a coin is divisible by up to 8 places.
Starting out the idea would be people exchanging their local currency into bitcoins to do secure, anonymous and free money transfers to anyone online. This would be done to a view to where, if critical mass is reached regarding its popularity, that the penetration of bitcoins would enter other realms ( the end game being ATMs I guess)
Its also protected against some third party trying to seize your funds or any sort of counterfeiting.
skyscraper101
0891 50 50 50
Even the way you explain it, honourable though its intentions are, makes it seem like a complicated thing to get into, and the seizable majority of people just aren't going to get it unless its made as simple as a credit card transaction. I hope I'm wrong though, more competition for the banks is not a bad thing, and no fees surely would be its biggest selling point. But it will need major retailers on board if it's going to get a foothold in online commerce. Not an easy task.
grit
an ugly force for good
Bingo!
Yup, you are absolutely correct there is currently a high barrier to entry. It needs to be simplified and abstracted enough that it can apply to consumers (something I've been pondering for the last two days). The point is the background infrastructure has been established, its now anchored (however volatile the exchange rates) to real life currencies. The groundwork is laid, if this conversion to mass market public is done correctly we have just created a currency that is well, fair.
I dont think that ecommerce is the real target, its person to person money transfer. However it got a lot of traction in c2c, b2c wouldnt be far behind.
camouflage
gaslit at scale.
Regarding silkroad, 20BTC for an 8th, at current rates thats... 36 quid
Last time I checked the same price against the pound was very attractive indeed. I'm sure the prices will therefore come down to catch up with the growth in bitcoin value. 12BTC for an 8th seems reasonable, factoring in post and packaging etc.
Last time I checked the same price against the pound was very attractive indeed. I'm sure the prices will therefore come down to catch up with the growth in bitcoin value. 12BTC for an 8th seems reasonable, factoring in post and packaging etc.
Bitcoin is an inspired idea, but I think it's too good an idea, the ditributed model aspect. It'll be too much of an affront to the current financial system and therefore get dealt with 
^^this. Ultimately no-one will be arsed. Shame.
grit
an ugly force for good
Things have gone fucking crazy with the recent publicity, give it a bit and it will be stablE(ish)
It's a fucking brilliant idea, I really hope it succeeds
spawnofsatan
Down by the river
1 bitcoin =$3.65 on the silk road! Some dude is wanting 40 bitcoins for 1G of Afghan hash, madness!
grit
an ugly force for good
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