TyloniusFunk
It Wandered In From the Wastes
Just curious if anyone over here as heard anything about bitcoin?
Bitcoin
- Thread starter TyloniusFunk
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It Wandered In From the Wastes
Great Ponzi scheme that bit the dust when security flaws were discovered and exploited.
You let your GPU solve something and after a set amount of solutions you get a bitcoin, the more bitcoins there are already made, the slower new ones will be added (because of mathemagics), until a maximum is reached?
I don't really know anything, a friend of mine talked about it some, he had a nice GPU at work, so he could run it all the time with no cost of his own. He made (and sold) $200 worth of bitcoins or so before the bitcoin became worth less than a cent.
Don't know if they plan or have started it up again. I'd be surprised.
You let your GPU solve something and after a set amount of solutions you get a bitcoin, the more bitcoins there are already made, the slower new ones will be added (because of mathemagics), until a maximum is reached?
I don't really know anything, a friend of mine talked about it some, he had a nice GPU at work, so he could run it all the time with no cost of his own. He made (and sold) $200 worth of bitcoins or so before the bitcoin became worth less than a cent.
Don't know if they plan or have started it up again. I'd be surprised.
What? Bitcoins is running and booming right now. Lots of people are doing it because of whatever reason... It's true that it doesn't give you a lot money anymore if you run that calculation stuff on your own, simply because there are a lot bitcoins already and it's kind of balancing itself. It is said to be very anonym / secure, because of unique ids for every transaction and because the transactions are working a bit different than normal online banking, which probably is the reason why more and more people are using it nowadays and whatever.
It's interesting to see what the outcome will be. Especially because I've heard that various people got scammed / hacked / ripped off already and you can't do anything against it, because of the anonymity of the network occurs the problem that you can't prove that it wasn't you who did this and so on, which means there is no way to prove that your story is true. Guess we will see some day if that thing explodes or if it has a real future.
It's interesting to see what the outcome will be. Especially because I've heard that various people got scammed / hacked / ripped off already and you can't do anything against it, because of the anonymity of the network occurs the problem that you can't prove that it wasn't you who did this and so on, which means there is no way to prove that your story is true. Guess we will see some day if that thing explodes or if it has a real future.
Yes, people got hacked, lost all their coins, and the value of a coin plummeted from several dollars to a cent or two, or a fraction of a cent, I can't remember. That's what the guy said, anyway. I couldn't be arsed to read the conversations he linked to where someone had told the developer of it about the security flaw, with the developer replying there was no flaw, followed by hax. This was all just one or two weeks ago, no?
rabidpulse
First time out of the vault
From what I remember from the story i read the trading value fell to almost nothing in a few minutes because of some hacking that inflated the number of coins in circulation. The owners of the bitcoin exchange stopped trading at that point. Then like in the novel "Debt of Honor" they fixed the problem and went back to trading at the pre hacked levels.
Here is link to a bbc news story about the hack and an opinion about the future of the bitcoin.
http://www.bbc.co.uk/news/technology-13857192?SThisEM
Here is link to a bbc news story about the hack and an opinion about the future of the bitcoin.
http://www.bbc.co.uk/news/technology-13857192?SThisEM