- 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: Installed my first bitcoin miner...
Posted on 2/27/13 at 4:56 pm to Lsut81
Posted on 2/27/13 at 4:56 pm to Lsut81
quote:
what if everyone decides to exchange out their bitcoins for USD's at one given time
if there were an abundance of sell orders on the exchanges, I imagine the price would drop tremendously and quickly
quote:
But what is stopping these individuals from making up millions for themselves and cashing out after all of you minions invest money into the system?
No one can "make up" bitcoins. They can mine them, but that takes a great amount of resources (i.e. value for value).
The protocol prevent the creation of new bitcoins, and if attempted would simply be rejected by the network. As I've mentioned before, forks of the bitcoin blockchain can be created by they would essentially be a new currency.
3
Posted on 2/27/13 at 4:58 pm to WikiTiger
quote:
No one can "make up" bitcoins.
This has yet to be proven......
This post was edited on 2/27/13 at 4:58 pm
Posted on 2/27/13 at 4:58 pm to WikiTiger
quote:
They can mine them, but that takes a great amount of resources
So the creators put X number of bitcoins into the program and that is it, forever?
Posted on 2/27/13 at 4:59 pm to WikiTiger
quote:
forks of the bitcoin blockchain
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News