- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Bitcoin Casinos Release 2012 Earnings
Posted on 1/22/13 at 2:32 pm to I Love Bama
Posted on 1/22/13 at 2:32 pm to I Love Bama
quote:
explain it to me like I was 5
Bitcoin is a decentralized peer-to-peer digital currency.
There will only ever be 21 million bitcoins mined. A little over half of them have already been mined.
The inflation rate is cut in half every 4 years until it reaches zero.
There are no bitcoin "accounts." Bitcoin is basically just a large transaction ledger that everyone has a copy of. Your total bitcoins are calculated from that transactions ledger.
Bitcoins utilize public key cryptography. Bitcoin uses the same cryptography as banks. If you are concerned about bitcoin security, then you should also be concerned with your banks security.
Bitcoin addresses can be generated with ease. No personal information is required.
Bitcoin value is based on the basic concept of supply and demand.
Bitcoins cannot be seized or frozen by governments.
Bitcoin transactions take place with extreme quickness.
Bitcoin transaction fees are currently zero or near zero. And will likely become fractions of a US penny as time goes on.
Bitcoin transactions can be sent anywhere in the world with extreme ease.
Bitcoin has the potential to be used anonymous if the user chooses.
Ummmmmmmm, that's all I can think of off-hand.
This post was edited on 1/22/13 at 2:33 pm
6
Posted on 1/22/13 at 2:34 pm to WikiTiger
So exactly like Chuck E Cheese tokens 
Posted on 1/22/13 at 2:37 pm to WikiTiger
Posted on 1/22/13 at 3:10 pm to WikiTiger
quote:
Bitcoins cannot be seized or frozen by governments.
I would be interested in seeing someone tell a Court that. If I get a judgment against John Smith for $10k, and he has $5k worth of bit coins I am going to seize it. Since it is a form of currency, I would imagine the Court would order the debtor to transfer it to me or hold him in contempt.
Posted on 1/22/13 at 3:13 pm to WikiTiger
What is the current inflation rate?
Posted on 1/22/13 at 5:21 pm to WikiTiger
quote:
Bitcoin is a decentralized peer-to-peer digital currency.
There will only ever be 21 million bitcoins mined. A little over half of them have already been mined.
The inflation rate is cut in half every 4 years until it reaches zero.
There are no bitcoin "accounts." Bitcoin is basically just a large transaction ledger that everyone has a copy of. Your total bitcoins are calculated from that transactions ledger.
Bitcoins utilize public key cryptography. Bitcoin uses the same cryptography as banks. If you are concerned about bitcoin security, then you should also be concerned with your banks security.
Bitcoin addresses can be generated with ease. No personal information is required.
Bitcoin value is based on the basic concept of supply and demand.
Bitcoins cannot be seized or frozen by governments.
Bitcoin transactions take place with extreme quickness.
Bitcoin transaction fees are currently zero or near zero. And will likely become fractions of a US penny as time goes on.
Bitcoin transactions can be sent anywhere in the world with extreme ease.
Bitcoin has the potential to be used anonymous if the user chooses.
You must know some fricking brilliant 5 year olds.
Another question:
-The whole 'finite amount will ever be made' kind of blows my mind. I'm trying to compare bitcoins to dollars in my head and that just doesn't even sound plausible. Let's say you have some bitcoins and buy something and now you're out. Are you just forever out of bitcoins unless you sell something, since no more will be made?
Posted on 1/22/13 at 10:23 pm to WikiTiger
quote:
There will only ever be 21 million bitcoins mined. A little over half of them have already been mined.
Exactly how do you 'mine' for a digitized currency and how was it determined/decided/discovered that only 21,000,000 will ever be 'mined' and that currently a little over 50% of the 21,000,000 have been 'mined'? Also, who determined or calculated the rates of inflation of the bit coin?
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News