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Author Topic: Bitcoin - the currency of the internet.  (Read 27012 times)

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Offline TravisE

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Re: Bitcoin - the currency of the internet.
« Reply #60 on: December 02, 2013, 11:43:40 am »
Basically, to change a fundamental part of the Bitcoin protocol, you'd need most people to switch to it. It requires more than half the entire hashing (computing) power of the entire Bitcoin network to invalidate the current block chain and replace it with something that works a bit differently. The larger the Bitcoin network grows and the more mining that's done, the less practical this becomes. Even right now, doing that would require an insanely huge amount of resources. Otherwise, the majority of clients run by everyone will simply reject and ignore foreign blocks.
« Last Edit: December 02, 2013, 11:44:51 am by TravisE »
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Offline DJ Omnimaga

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Re: Bitcoin - the currency of the internet.
« Reply #61 on: December 02, 2013, 11:47:20 am »
Oh right, so I also assume that this would make hacking bitcoin pretty much impossible (fortunately)?
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Offline Sorunome

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Re: Bitcoin - the currency of the internet.
« Reply #62 on: December 02, 2013, 11:49:17 am »
Yes, the more people mine bitcoins, the more secure it gets :)
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Offline willrandship

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Re: Bitcoin - the currency of the internet.
« Reply #63 on: December 02, 2013, 04:00:38 pm »
If you just want a different bitcoin-like system, though, without replacing bitcoin, you just have to start a new block chain. That process is only necessary for major bitcoin-specific changes.
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Offline annoyingcalc

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Re: Bitcoin - the currency of the internet.
« Reply #64 on: December 02, 2013, 05:17:53 pm »
« Last Edit: December 02, 2013, 05:18:10 pm by annoyingcalc »
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Offline Sorunome

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Re: Bitcoin - the currency of the internet.
« Reply #65 on: December 03, 2013, 05:55:25 am »
Oh, that was in the UK? I thought that was in the US, read about it a few days ago :P
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Offline Streetwalrus

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Re: Bitcoin - the currency of the internet.
« Reply #66 on: December 03, 2013, 12:36:25 pm »
O.O I'd be so pissed of if it happened to me.
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Offline TheMachine02

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Re: Bitcoin - the currency of the internet.
« Reply #67 on: December 03, 2013, 12:37:17 pm »
I guess you became crazy  :P   * WWWHHHHHYYYYYYY  I'VE DONE THAT *
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Offline Sorunome

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Re: Bitcoin - the currency of the internet.
« Reply #68 on: December 07, 2013, 06:06:04 am »
is this the crash? They went below 600 and are right now at like 730, but stilll..... :P
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Offline ruler501

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Re: Bitcoin - the currency of the internet.
« Reply #69 on: December 09, 2013, 01:35:40 am »
The prices are starting to go back up(which my wallet is really appreciating)

Do any of you do altcoins? I mine anoncoin with my GPU/CPU when I'm not playing games on my desktop(currently get about 470-520kH/s). I have earned about 4.1 coins with it so far though fees will take .3 of those off.
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Offline Keoni29

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Re: Bitcoin - the currency of the internet.
« Reply #70 on: December 09, 2013, 04:07:21 am »
Wow anoncoin are just $6 each at the moment. If these get as popular as bitcoin it might be a good idea to invest now!
http://coinplorer.com/ANC
On the other hand. It peaked 4 december at $12, so it's quite unstable. You need to sell fast if you think the time is right!
« Last Edit: December 09, 2013, 04:08:42 am by Keoni29 »
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Offline Sorunome

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Re: Bitcoin - the currency of the internet.
« Reply #71 on: December 09, 2013, 08:02:21 am »
if we just knew in adnaved which coins will turn out good :P
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Offline Keoni29

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Re: Bitcoin - the currency of the internet.
« Reply #72 on: December 09, 2013, 10:25:49 am »

Stock photo of someone with a crystal ball. Looks more like a soapbubble. Maybe it is symbolic and he is analyzing the global economy.
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Offline TravisE

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Re: Bitcoin - the currency of the internet.
« Reply #73 on: December 09, 2013, 01:54:55 pm »
I'm mining Litecoin and holding onto some Peercoins. PPC seems like it has a lot of promise—it has some interesting concepts that are much different from Bitcoin's. Instead of having to mine it, you can gain extra by holding on to coins for a long time. It's like keeping them in a bank and accumulating interest.
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Offline DJ Omnimaga

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Re: Bitcoin - the currency of the internet.
« Reply #74 on: December 09, 2013, 04:23:26 pm »
Quote from: Keoni29 on December 09, 2013, 04:07:21 am
Wow anoncoin are just $6 each at the moment. If these get as popular as bitcoin it might be a good idea to invest now!
http://coinplorer.com/ANC
On the other hand. It peaked 4 december at $12, so it's quite unstable. You need to sell fast if you think the time is right!
Page doesn't load. Good idea to invest indeed.  ::)
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