Bitcoins

[zerodameaon]

You already can...
Green Ave Market
Bay Area Strength and Nutrition
And these are just two examples of brick and mortar stores accepting it.

If you want to order your every day necessities online the list is pretty damn large.

EDIT: Ohh I forgot to add my personal fav.
http://www.sfnarasushi.com/

Sounds like currency to me.

[AFSil80]

I like what I've read about the bitcoin, but it just seems a little out of reach for me to use as a currency...and I'm sure with JP Morgan looking to put a patent on it, it's probably too late to do smart investing with it. I guess I'll just keep using the dollar until it crashes.

Then I'll get to activate my investments in lead, brass, and copper jacketing if you know what I mean.

[zerodameaon]

Bitcoin is not theirs to patent, they are trying to make their own version of bitcoin to cash in on this digital gold rush.
Even if they did manage to patent it I am betting the network would just shut down rather then have a bank steal ownership.

[jamg]

you can't patent bitcoin. it was invented by a japanese guy.

bitcoins are the only thing that is bought and sold in a true free market.

[zerodameaon]

Originally Posted by jamg

you can't patent bitcoin. it was invented by a japanese guy.

There is no proof he was Japanese, or proof that he ever really existed for that matter. Someone or a group of people under the pseudonym Satoshi Nakamoto created bitcoins, then disposed of the name about mid 2010. I am betting the group that made them are still out there thinking up the next thing to try and throw in the controlled markets face.

[stevenrapids]

My whole problem is that you cannot use them in hand to hand transfer? atleast not to my knowledge. Simple fact, it is a currency, no argument in that. Isn't this essentially no different than wire transfer of funds? Without the involvement of a bank and relative anominity?

[240sx .25mile]

What does mining a bit coin mean? Does your computer make them? If anyone can make them then why do they hold value?

[zerodameaon]

There are hand to hand transfers via your cellphone and a wallet you setup or you can even print a paper wallet, put the money for an item on it then give it to the guy you are buying whatever from. Its pretty cool and they are also the safest form of wallet available.

As for mining your providing your processing power to more or less keep the network going. You provide the processing power to validate transactions and find the next block(where the info for transactions is stored) in the chain and as a reward the fees that the network charges are dived out to the people responsible for keeping the network going. That is really the simplest way to put it.

[kingkilburn]

Bitcoin in a specific incarnation of an idea. Crypto currencies should never EVER be patented or centrally planned and controlled. The strength of the idea is exactly that and inherent to it.

[atom]

In the past I mined bitcoins on quad ATI GPU's. Made some G's.

I really wish I had gone full out a few years ago like some other friends had done at the time. I would have had 35k+ more in my pocket. Oh well, missed opportunity.

For most people it's not even worth mining any more (or any cryptocurrency really) since custom ASIC's have taken over. Better off just straight buying and selling.

[zerodameaon]

Ehh ASICs can only take over SHA256 crypto coins. Ones that rely on Scrypt are still very much viable to mine for the foreseeable future.

Also this just happened. Dogecoin

[atom]

Well, my original comment was more along the lines of buying hardware specifically to mine coins. TBH I haven't been following coins too closely lately so my opinion might be out of date, but I just don't see the $$$ vs. just trading coins outright.

If you have a gaming rig or something and want to mess around, I'm all for it.

[kingkilburn]

At this point the investment in equipment takes so long recoup from mining that I wouldn't bother. Unless you have a free source of power and a few thousand(like ten) burning a whole in your pocket you'd be better served investing in trading.


Or open an online business that accepts bitcoin in payment.

[Frank_Jaeger]

Originally Posted by zerodameaon

Ehh ASICs can only take over SHA256 crypto coins. Ones that rely on Scrypt are still very much viable to mine for the foreseeable future.

Also this just happened. Dogecoin

I have 4 million doges and counting. Such moon.

I also have 3 7970s and 2 6850s. I'll be getting a couple more 7950s or 7970s soon.

[sleepyS14se]

oh my god this reminds me of the Hype about "Dinars"

read- Dinar - Wikipedia, the free encyclopedia


ugghhh not another one. lol

[zerodameaon]

Originally Posted by Frank_Jaeger

I have 4 million doges and counting. Such moon.

I also have 3 7970s and 2 6850s. I'll be getting a couple more 7950s or 7970s soon.

So amaze, much dug. With a difficulty of 0 why not dig them. If they somehow gain any ground it could be a little bit of money.


Those cards are perfect for Scrypt coins. I thought about a Sapphire 6850 last night for 160 but I am afraid I will get it and it will be broken.

[coreyh]

people are already buying vehicles with bitcoins. not so sure on litecoins though.

so far the two automotive purchases were a tesla and a Gallardo (one of the last ones too)

and there are a few little boutiques near me and a little farther into l.a. that accept bitcoins. so they are making their way into the commercial sector. at least on the small scale for now.

[zerodameaon]

They were both still bought with the US dollar, the dealership never sees the bitcoins as a third party exchange converts the coin from the buyer into USD before forwarding it on to the dealership.

[coreyh]

didn't know that detail.

But that is hard for me to believe about the tesla. not saying you're wrong I just know that elon musk is all for doing everything in the modern age, hence why he got rid of dealerships, I figured he would've been all over cryptocurrency.

[zerodameaon]

It was some Lambo dealer selling both these cars and not Tesla directly who sold the Model S. Who knows though, maybe this popularity will bring the real Tesla into the game.

The Daily Dot - This 4chan user bought a Lamborghini with $200K in Bitcoin

Yeah they still have a bitcoin pay portal but its really similar to how paypal operates for buying from something like ebay UK, they convert it to pounds and the person never sees the USD you paid with.

[coreyh]

I would think. I spoke with elon briefly at the store in santa monica about his ideals and he was talking about he wanted to move the industry into the technological age. cryptocurrency would be the biggest step.

[rustys13o_0]

So I had this whole spiel about how does one get into this intangible source of barter or the newest one that causes inflation to what trusts in god, and I hit the back button... I would love to buy a lambo ooorrr soup my s13!! Well if I'm using this digital triangle at the 8th power to produce USD, doesn't that mean cash is still unsurpassable no matter how inflated it'll become? Because apparently I still have to convert bit to dollar to buy a lambo. Unless my bigot of a salesman uses bitcoin etc to barter shortly before he converts them to USD to make his house payment... With his "credit" card.

[nekrodev]

Just got my 5GH/s miner in today after like 4 months of waiting. I wish I'd been mining w/ my GPU all this time, but I just kept putting it off.

Setup and running right now. It's hard to tell how it's trending so far, only been about 20-30 mins, but it's looking pretty solid.

[zerodameaon]

My friend wants to preorder a 200gh/s mining contract for like 900 bucks. You could make a bit of money at current difficulty. It says they will not be ready to start mining till about april, by then you will be losing a significant amount of money and none of these companies ship on time. If anyone has been thinking about a contract there is a reason these guys are not mining for themselves and instead selling contracts.

[nekrodev]

Originally Posted by zerodameaon

My friend wants to preorder a 200gh/s mining contract for like 900 bucks. You could make a bit of money at current difficulty. It says they will not be ready to start mining till about april, by then you will be losing a significant amount of money and none of these companies ship on time. If anyone has been thinking about a contract there is a reason these guys are not mining for themselves and instead selling contracts.

I'm gonna run my 5 GH/s one for a month or two and make sure I can make my money back on it. If it works, I'm gonna invest in a 25 GH/s one. Anything more than that is out of my price range right now.

[shiftdrift]

http://www.theguardian.com/technolog...cryptocurrency

[Frank_Jaeger]

Buy buy buy!

[rustys13o_0]

Originally Posted by shiftdrift

Bitcoin plummets as China's largest exchange blocks new deposits | Technology | The Guardian

Thank you... I dont know the source but the comments are smart haha.

DIGITAL PYRAMID, someone is killing this virus and good. Its mocked up, stay away. It reminds me of buying an android game and buying the gems or coins to advance your way through it.. . Governments make money possible, banks fdci protect our money. I HAND currency to merchant, cash. o_0

[atom]

Originally Posted by Frank_Jaeger

Buy buy buy!

Eh, there is nothing on the horizon that looks to propel bitcoins value the way China;s interest in the currency did, so IDK about that.

[nekrodev]

Yeah, shit sucks. Average value on MtGox went down from like $650 low to $475