Thursday, March 3, 2011

BITCOINS!!! best thing since GOLD trading

WHAT IS A BITCOIN?!?!
Bitcoin design that I favor!!


WIKISAYS:
Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. The name also refers to the open source software he designed that uses it, and the peer-to-peer network that it forms. Unlike most currencies, bitcoin does not rely on trusting any central issuer. Bitcoin uses a distributed database spread across nodes of a peer-to-peer network to journal transactions, and uses cryptography in order to provide basic security functions, such as ensuring that bitcoins can only be spent by the person who owns them, and never more than once.
Bitcoin's design allows for anonymous ownership and transfers of value. Bitcoins can be saved on a personal computer in the form of a wallet file or, kept with a third party wallet service, and in either case, can be sent over the Internet to anyone with a Bitcoin address. Bitcoin's peer-to-peer topology and lack of central administration make it infeasible for any governmental authority, or anyone else, to manipulate the value of bitcoins or induce inflation by producing more of them.
Bitcoin is one of the first implementations of a concept called cryptocurrency, first described in 1998 by Wei Dai on the cypherpunks mailing list.

BITCOIN VIDEO SAYS:


CHRISFRANKOSAYS:
This is the best thing since gold trading!!! In 24 hours the cost of a BTC went from $1.00 to $1.60 USD. Whats cool is mining for BTC's is easy as hell, you just turn the computer on and become basically your own federal reserve, mind you, you are making BTC's at the same rate as everyone else, which is a very very very slow process that gets even slower every time certain quotas are met. To get started trading bitcoins today you can go to MyBitCoin.com sign up and receive a payment address that will look like this "1BzSWA5mN7r2ZDn61VTvHzzUePqGrFEMmg". BUT i recommend actually downloading the bitcoin software from http://www.bitcoin.org/ and start mining your own bitcoins. =] FEELSGOODMAN. Down with central banking!

To get your first few bitcoins you can go to http://freebitcoins.appspot.com/ and put in your new payment address that you generated from one of the two methods above. You will earn a bitnickel for doing it!! Please show some love and send a bitcent my way brother.

Support Me with a BITCOIN and please SHARE THIS WITH EVERYONE!!!
   1BzSWA5mN7r2ZDn61VTvHzzUePqGrFEMmg

15 comments:

  1. thats pretty cool. but gold farmers will be abusing it

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  2. This is different. Wonder if it will gain popularity enough to actually be able to compete with other world currencies.

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  3. I've heard of egold, people use it for online investing.

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  4. I would love to see this take off and become something widely used, but the idea has about 1000 years of entrenched money interests to compete with. But hey, we've seen the internet do other previously thought impossible things too huh?

    Interesting stuff, I will be following from here on out!

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  5. very interesting! cool idea

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  6. Is this for some sort of online game?

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  7. tried this a couple of weeks ago. bad idea: my cpu could fry an egg

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  8. Just wait for Bitcoin fraud...

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  9. hey ryan, cpu mining is kind of pointless, gpu mining though is lucrative

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  10. nothing like good ol' paper money that you can hold to me...

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  11. alexander but the paper money is worthless

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  12. You mention these have a dollar value, but can you even convert them to dollars? I'm interested, but have no idea what the purpose is!

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