evolutionpep
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Bitcoins
- Thread starter evolutionpep
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evolutionpep
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Here is a good guy to deal with if you want to buy or sell your coins. Private and a good guy. I have done business with him.
? Topic: Bitcoins!!
? Topic: Bitcoins!!
evolutionpep
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good time to buy!!!
evolutionpep
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fastcashforcoins
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for all your bitcoin needs, feel free to check out my site. i offer a 100% anonymous, secured buying process. website is invite only, you will need an access code to gain entry. look forward to working with you guys 
Access Code
send me a message for the access code if you are interested in seeing what kind of service i provide
Access Code
send me a message for the access code if you are interested in seeing what kind of service i provide
Bitcoin tumbles after China crackdown
The price of a Bitcoin slumped Wednesday after China's largest exchange for the virtual currency said it would stop accepting deposits in yuan ? China's local currency.
The much-ballyhooed Bitcoin currency has lost more than half its value since hitting records above $1,100 at the end of November. On Wednesday, the price of a Bitcoin fell 18% to $558 and traded as low as $422.50 earlier in the day, according to an index run by CoinDesk, a website focused on digital currencies.
http://www.usatoday.com/story/money/markets/2013/12/18/bitcoin-price/4107831/
The price of a Bitcoin slumped Wednesday after China's largest exchange for the virtual currency said it would stop accepting deposits in yuan ? China's local currency.
The much-ballyhooed Bitcoin currency has lost more than half its value since hitting records above $1,100 at the end of November. On Wednesday, the price of a Bitcoin fell 18% to $558 and traded as low as $422.50 earlier in the day, according to an index run by CoinDesk, a website focused on digital currencies.
http://www.usatoday.com/story/money/markets/2013/12/18/bitcoin-price/4107831/
evolutionpep
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Id say thisbis a short term blip in the big picture. There not shutting this thing down any time soon. People see real value in this. Mostly because governments cant create more of it.
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evolutionpep
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evolutionpep
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Click on my link in the first post. Pretty much breaks everything down brother!
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Where is real money made? In the mind! Thats where...
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evolutionpep
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I read through most of the site. I understand how bitcoins are used as a currency. But I don't understand where they come from or how they are created.
I understand that I can obtain bc by accepting them or paying for or exchanging for them. But what if I want to create or mine my own. How does this happen? I know there are mining machines and mining pools, but where do they come from? How are they mined from the cyber-universe?
lol, I want in. I want some bc. Only, I don't want to buy them, I want to be the one issuing them or collecting a fee on the exchange.
evolutionpep
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evolutionpep
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You are absolutely right. Until it finds a true value it's going to be hard to become a currency. However money can still be made. Nows the time to buy!
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I think this is a "bandwagon" situation. When something new is introduced to the market it is met with resistance. . Then yoy have early adoptors. Then influencers. When they get onboard the masses start jumping on and you get crazy runups. Like what happened recently. It will calm down once the speculators get off the cart.
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fastcashforcoins
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so basically "mining" is the process of a computer (or more commonly now, multiple computers aka mining pools) creating and solving increasingly difficult math algorithms.
the entire bitcoin infrastructure basically is nothing more than letters and numbers in very complex math equations. everytime a bitcoin transaction takes place it is added into that equation, and verified by other computers and users.
bitcoins are rewarded to miners under an equation equating out to the efficiency of which the miners computer is able to create and solve those math algorithms, and confirm purchases made by other users.
it used to be 1 computer with a powerful processor and video card could mine several coins per day. but now that the bitcoin community has grown so exponentially, the equations being created and solved and the number of transactions being confirmed requires way more computing power than any one or 2 computers can provide.. at least wih any productivity or profit that is.
there are sites u can buy dedicated mining computers from, if you want to mine your own coins. but by yourself only expect to be harvesting .00000000000001 coins per day or sometjing crazy like that. joining a mining pool or investing in several super computers is a more lucrative approach.
dont quote me on the specifics, but i just tried giving u a general picture of the bitcoin experience. feel free to ask me any questions u might have
evolutionpep
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Great point
evolutionpep
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Awesome stuff right here!
I like the idea, it's very intriguing and has lots of potential. But there also appears to be a lot of risk.
The issue I'm struggling with is the originating supply. From what I understand, the person or group 'Satoshi Nakamoto' created this system and decided to only release 21 mil bitcoins. If what I've read is correct, about 12 mil have been mined, released or created thus far.
All of this is fine. But I don't like that I don't know who this guy or group is. Supposedly he holds over 1 mil bitcoins. What stops this guy/group from releasing 21 Billion bitcoins instead of 21 million. What stops him from cashing out with in insane amount of money after this takes off and crashes the market, or the market is later proven to be diluted.
The above makes this very risky and volatile.
The issue I'm struggling with is the originating supply. From what I understand, the person or group 'Satoshi Nakamoto' created this system and decided to only release 21 mil bitcoins. If what I've read is correct, about 12 mil have been mined, released or created thus far.
All of this is fine. But I don't like that I don't know who this guy or group is. Supposedly he holds over 1 mil bitcoins. What stops this guy/group from releasing 21 Billion bitcoins instead of 21 million. What stops him from cashing out with in insane amount of money after this takes off and crashes the market, or the market is later proven to be diluted.
The above makes this very risky and volatile.
fastcashforcoins
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well you are right, that technically bitcoins leave a trail. 'technically...' but heres the thing, the only actual information that is available, is that Bitcoin Address A sent bitcoins to Bitcoin Address B. there is no way of telling who address A is, or who address B is. and actually, thats where the benefit of purchasing bitcoins from a third party (such as myself) is. you are not Address A. you dont have an Address. do you get what im saying? i welcome every bit of skepticism, and would be shocked if people didnt have doubts moving forward into still such an uncharted and unprecedented part of the interenet.
would be more than happy to talk to you in PM if you have any questions. im here to keep you guys safe, and answer any question
fastcashforcoins
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my personal opinion, now is a great time to buy. and ill tell you why, when the price went from just over $100, to nearly $1500 in little over 30 days it was because it hit the news finally. in a way not associated with the Silke road or money laundering or the 'deep web' etc. it was presented in a way that shows the advantage of using bitcoins as a means of transactions.
then the US senate approved of it. then the Chinese gov't approved.
but when the chinese gov't started regulating the SHIT out of bitcoins what happend was all the people in china who bought (lots of people in china by the way lol) decided to sell. so the market was flooded with bitcoins. its a supply and demand market.
now the situation we find ourselves in is the cost per coin has droppped. but think about this too, its time for christmas. tax season is approaching. the majority of the population doesnt have loads of extra money. so a lot of people are 'cutting their losses' and cashihng out their coins. calling it a year so to speak. but after the holidays, and the beginning of the new fiscal year... people are going to invest, and they are going to invest alot. this is my prediction.
fastcashforcoins
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by nature of design, Satoshi would only have been able to accumulate bitcoins legitimately and in the same process as everyone else. there is no way to manipulate the process. every transaction is verified by the network, and actually this is a peice of information people dont usually know... but in order for my bitcoins to be sent to you (for example) the transfer is checked, rechecked, and checked again hundreds of times. this ensures there are no double spendings, no counterfeits, etc etc. (for the actual bitcoins to arrive tho, the network only requires 3 to 5 confirmations. but they all get confirmed eventually by all relevant nodes aka computers)
lets say hypothetically speaking Satoshi does infact have over 1 million bitcoins. which is completely possible, since he was the first to know about this. he can not single handedly do anything to the market except for sell all his coins. which weould do nothing but make a sudden drop in value due to the immediate flow of coins. (supply and demand) here's why he cant effect the actual structure... for any change to be made to the system, or any new features added or removed, the modification has to be approved by 51% of bitcoin holders. meaning for 1 person to have any effect on bitcoins he would need to own over 6million bitcoins if there are 12 million already in circulation. impossible.
Is there some sort of central computer system or massive pool of bitcoin servers that everyone (and their mining computers) are connecting or interacting with? I mean, for anything to be connected with or transferred to/from remotely is has to exist somewhere for the system/users/miners/etc to access.
What happens when this system crashes and there are no records or trails to point to or prove ones ownership of said bitcoins that now seemingly don't exist, can't be verified or are invisible. I understand that you can safely store bitcoins offline in a digital wallet. But without a system to interact with and verify coins, they don't exist.
So it seems there would HAVE to be some primary or centralized equipment involved here. AND, if there are guys smart enough to design this system, they're certainly smart enough to mess with, crash, or corrupt it.
Once again, I'm interested in bitcoins, but still need a better 'virtual' grasp.
What happens when this system crashes and there are no records or trails to point to or prove ones ownership of said bitcoins that now seemingly don't exist, can't be verified or are invisible. I understand that you can safely store bitcoins offline in a digital wallet. But without a system to interact with and verify coins, they don't exist.
So it seems there would HAVE to be some primary or centralized equipment involved here. AND, if there are guys smart enough to design this system, they're certainly smart enough to mess with, crash, or corrupt it.
Once again, I'm interested in bitcoins, but still need a better 'virtual' grasp.
I see where you're coming from let me play devils advocate for a second how is that different than our current monitary System? If you keep most of your money in the bank in the bank accidentally delete your account records where does your money go? I think it's better to look at this like investing in gold, you want to diversify your money in case something happens I would never suggest you put your money into bitcoins that would be foolish.
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evolutionpep
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I love a good game of Risk!