oh okay. so how does this part work
The Bitcoin solution uses cryptography and an open transaction register. Whenever you spend a Bitcoin, you cryptographically sign a statement saying that you have transferred the coin to a new owner and you identify the new owner by their public crypto key. Whenever they need to spend the coin, the new owner uses his private key to sign it over to some further owner. As soon as a transaction takes place, the recipient (who has a very strong incentive to ensure that you don't spend the coin twice) publishes the transaction to the global Bitcoin network. Now every Bitcoin user has incontrovertible evidence that the coin has been spent, and users won't accept that coin from anyone but the new owner.
― british sb power (dayo), Thursday, 9 June 2011 00:06 (thirteen years ago) link
I was totally going to buy a couple of these on a whim, but I had to sign up to some kind of paypal knockoff site, and put in my bank account details, now I have to wait for their stuff to go through, etc. blech
― unmetalled world (wk), Thursday, 9 June 2011 00:54 (thirteen years ago) link
whenever you buy say some acid from wavygravy, you tell the world using your digital signature that you are giving wavygravy five bucks,so now everyone knows that wavygravy has five more dollars and you have five less dollars, I think that's how it works.
― Philip Nunez, Thursday, 9 June 2011 00:59 (thirteen years ago) link
how do you tell the world? who keeps a record of this?
― british sb power (dayo), Thursday, 9 June 2011 01:05 (thirteen years ago) link
guys...I have an idea...what if we monetized suggest bans
― british sb power (dayo), Thursday, 9 June 2011 01:10 (thirteen years ago) link
so wikipedia sez they use a p2p distributed database to keep track of transactions. seems that if somebody found some way to hack this system then they'd be in business
― british sb power (dayo), Thursday, 9 June 2011 01:12 (thirteen years ago) link
Forget piracy, U.S. government is going after Bitcoin
― got a whole lotta gloves (snoball), Thursday, 9 June 2011 07:06 (thirteen years ago) link
I believe it!
0.07759571 BTC
― Latham Green, Thursday, 9 June 2011 15:32 (thirteen years ago) link
Balance: 0.07990394 BTCcome one 0.080000!!!
― Latham Green, Friday, 10 June 2011 12:56 (thirteen years ago) link
BTUs from GPUs exceeding BTCs...
― got a whole lotta gloves (snoball), Friday, 10 June 2011 13:12 (thirteen years ago) link
http://www.dailytech.com/article.aspx?newsid=21877
― iatee, Monday, 13 June 2011 18:28 (thirteen years ago) link
thanks for the link!
― coffeetripperspillerslyricmakeruppers (Latham Green), Monday, 13 June 2011 18:37 (thirteen years ago) link
Turning ur Bitcoins into Butthurtcoins...
― wtf is wrong with people? (snoball), Monday, 13 June 2011 18:39 (thirteen years ago) link
it would have been gr8 if you bought alot and sold at peak - perfect! TOTAL VICTYRY!I WON ALL!
― coffeetripperspillerslyricmakeruppers (Latham Green), Monday, 13 June 2011 18:44 (thirteen years ago) link
Wasn't this basically one of the plot threads in Cryptonomicon?
― Shart Shaped Box (Phil D.), Monday, 13 June 2011 18:58 (thirteen years ago) link
that dream has come troo
― coffeetripperspillerslyricmakeruppers (Latham Green), Monday, 13 June 2011 19:00 (thirteen years ago) link
Balance: 0.08853843 BTC
― coffeetripperspillerslyricmakeruppers (Latham Green), Monday, 13 June 2011 19:15 (thirteen years ago) link
What machine are you mining on Latham, and how long since you started?
― ...wow! (Le Bateau Ivre), Monday, 13 June 2011 19:36 (thirteen years ago) link
just using bitcoinplus.com for a few weeks
― coffeetripperspillerslyricmakeruppers (Latham Green), Monday, 13 June 2011 19:42 (thirteen years ago) link
The user known as "allinvain" is a long-time contributor to the Bitcoin forums. He says he's been mining Bitcoins for over a year, and had amassed a fortune of 25,000 BTC. This was a modest sum a few months ago, when Bitcoins were worth pennies, but over the last two months the value of a Bitcoin skyrocketed to around $20, which means 25,000 BTC would have been worth half a million dollars. "I remember watching the price like a hawk," he wrote.
And then disaster struck. "I just woke up to see a very large chunk of my bitcoin balance gone," he wrote. "Needles [sic] to say I feel like I have lost faith in bitcoin." He speculated that a Windows security flaw may have allowed the culprit to gain access to his digital wallet. "I feel like killing myself now," he said.
― coffeetripperspillerslyricmakeruppers (Latham Green), Wednesday, 15 June 2011 20:18 (thirteen years ago) link
wow the payout amount just went way down - good thing I was an early adopter!
― coffeetripperspillerslyricmakeruppers (Latham Green), Wednesday, 15 June 2011 20:24 (thirteen years ago) link
Balance: 0.09034359 BTC
― coffeetripperspillerslyricmakeruppers (Latham Green), Friday, 17 June 2011 16:32 (thirteen years ago) link
psyched for .01 party
― i love the smell of facepalm in the morning (ledge), Friday, 17 June 2011 16:33 (thirteen years ago) link
.1 duh
― i love the smell of facepalm in the morning (ledge), Friday, 17 June 2011 16:34 (thirteen years ago) link
BIT DIM EHEAVEN!!!!!!!
― coffeetripperspillerslyricmakeruppers (Latham Green), Friday, 17 June 2011 16:34 (thirteen years ago) link
Not sure which quote is more depressing, tbh:
"Needles to say"
or
"I feel like killing myself now"
― jon /via/ chi 2.0, Friday, 17 June 2011 16:35 (thirteen years ago) link
Are we sure this isn't Morrissey?
― wtf is wrong with people? (snoball), Friday, 17 June 2011 17:44 (thirteen years ago) link
http://www.doobybrain.com/wp-content/uploads/2010/05/i-hate-myself-mug.jpg
― coffeetripperspillerslyricmakeruppers (Latham Green), Friday, 17 June 2011 18:01 (thirteen years ago) link
Bitcoin value plummets as main exchange is hacked
Inside the Mega-Hack of Bitcoin: the Full Story
― 美国有很多丰富的傻瓜 (Sanpaku), Tuesday, 21 June 2011 18:56 (thirteen years ago) link
oh nooes!still it sounds like it was the exchange that was hacked, not the actual cryptography of the bitcoin
― coffeetripperspillerslyricmakeruppers (Latham Green), Tuesday, 21 June 2011 19:01 (thirteen years ago) link
love it
― iatee, Tuesday, 21 June 2011 19:10 (thirteen years ago) link
Yeah, although wasn't MtGox the only game in town for turning bitcoins into $?
Seems like a) nobody trusts it any longer and b) it's even easier than people feared to crash the value of bitcoins, especially with some early adopters out there holding huge sums.
― stet, Tuesday, 21 June 2011 19:11 (thirteen years ago) link
I think the main usefulness of it will be not having to turn it into $
― coffeetripperspillerslyricmakeruppers (Latham Green), Tuesday, 21 June 2011 19:13 (thirteen years ago) link
There are other exchange places for turning bitcoins into $, but none is as big as Mt GoX was. Also, this entire story is making me laugh so much because it made me realise that this currency was mainly being traded on what used to be a Magic: the Gathering exchange website (Magic:the Gathering online Xchange = Mt GoX).
― Jibe, Tuesday, 21 June 2011 19:26 (thirteen years ago) link
always knew magic cards were going to be the eventual world currency
― iatee, Tuesday, 21 June 2011 19:27 (thirteen years ago) link
hope I can find my old shivan
http://hanlepedia.wikia.com/wiki/Bitcoins
― coffeetripperspillerslyricmakeruppers (Latham Green), Tuesday, 21 June 2011 19:30 (thirteen years ago) link
― Jibe, Tuesday, June 21, 2011 3:26 PM (1 minute ago) Bookmark Suggest Ban Permalink
this explains so much
― ☂ (max), Tuesday, 21 June 2011 19:31 (thirteen years ago) link
Hanlepedia! An encyclopedia you can trust! :-)
― ...wow! (Le Bateau Ivre), Tuesday, 21 June 2011 19:31 (thirteen years ago) link
lol, I was wondering what mt. gox meant.
― Ktulu says, I've come to hate my body (wk), Tuesday, 21 June 2011 19:32 (thirteen years ago) link
I just thought it was a mountain
― iatee, Tuesday, 21 June 2011 19:38 (thirteen years ago) link
its the future of the internet
― coffeetripperspillerslyricmakeruppers (Latham Green), Tuesday, 21 June 2011 19:39 (thirteen years ago) link
http://www.coolstuffinc.com/images/Products/mtg%20art/Fourth/Land%20Tax.jpg
^^^hacker probably looks like this
― iatee, Tuesday, 21 June 2011 19:47 (thirteen years ago) link
Somehow I doubt it ;)
― ...wow! (Le Bateau Ivre), Tuesday, 21 June 2011 19:47 (thirteen years ago) link
god dammit
― iatee, Tuesday, 21 June 2011 19:48 (thirteen years ago) link
http://gatherer.wizards.com/Handlers/Image.ashx?multiverseid=1624&type=card
who took all the monopoly money!
― coffeetripperspillerslyricmakeruppers (Latham Green), Tuesday, 21 June 2011 19:53 (thirteen years ago) link
http://www.screwthestatusquo.com/storage/post-images/letters/monopoly%20guy.gif?__SQUARESPACE_CACHEVERSION=1273091093189Come to think of it, he kind of looks a lot like the 1u1z5ec guy
― wtf is wrong with people? (snoball), Tuesday, 21 June 2011 19:55 (thirteen years ago) link
I always try to steal money when I play monopoly - wait until people look away then grab some 500$ s
― coffeetripperspillerslyricmakeruppers (Latham Green), Tuesday, 21 June 2011 19:56 (thirteen years ago) link
I did that with my little brother all the time when I was a kid
― iatee, Tuesday, 21 June 2011 19:56 (thirteen years ago) link