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Thread: Bitcoin?

  1. #1
    Bird Dog Bird Dog's Avatar
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    Bitcoin?

    Does any one here own any and why?
    When you lie down with dogs, you're going to get fleas....


    Quote Originally Posted by vraiblonde View Post
    How is it that you don't see how crazy you sound when you do this?

  2. #2
    INGSOC GURPS's Avatar
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    Nope ....
    Weíre tempted to suggest a conspiracy here ó but itís just liberals agreeing yet again that conservatives have hidden, evil motives, because modern liberals simply canít conceive of any other reason to disagree with the liberal consensus.

  3. #3
    Registered User
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    I thought about jumping in fairly early, but passed because I didn't want to spend cash on the coins and it had passed the point when you could reasonably expect to mine coins without buying purpose built equipment or running high-end video cards 24/7.

    At this point I wouldn't bother, as the blockchain increases the number of simultaneous transactions continues to lower and the cost per transaction increases. Pretty soon it will cost a ton just to bribe people to actually run your transactions.

    It was a good proof of concept, but something newer/better will have to replace it before long.

    Too bad it won't be Dodgecoin (someone gave me like 10k of those).

  4. #4
    Don't currently have any BTC, but have had plenty in the past when I was mining on a cluster of GPU-enabled HPC machines. BTC itself is long-outdated. Transactions take too long and if you're still mining, it's not very energy-efficient.

    I like NEM and Ripple currencies, the latter of which has been courting central banks around the world to evangelize. We'll see how it goes.

  5. #5
    professional daydreamer mAlice's Avatar
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    In a SHTF scenario, bitcoin will not be any more accessible than your bank account.
    Je suis prest

  6. #6
    INGSOC GURPS's Avatar
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    '$300m in cryptocurrency' accidentally lost forever due to bug

    More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports.

    Unlike most cryptocurrency hacks, however, the money wasn’t deliberately taken: it was effectively destroyed by accident. The lost money was in the form of Ether, the tradable currency that fuels the Ethereum distributed app platform, and was kept in digital multi-signature wallets built by a developer called Parity. These wallets require more than one user to enter their key before funds can be transferred.

    On Tuesday Parity revealed that, while fixing a bug that let hackers steal $32m out of few multi-signature wallets, it had inadvertently left a second flaw in its systems that allowed one user to become the sole owner of every single multi-signature wallet.

    The user, “devops199”, triggered the flaw apparently by accident. When they realised what they had done, they attempted to undo the damage by deleting the code which had transferred ownership of the funds. Rather than returning the money, however, that simply locked all the funds in those multisignature wallets permanently, with no way to access them.

    “This means that currently no funds can be moved out of the multi-sig wallets,” Parity says in a security advisory.

    Effectively, a user accidentally stole hundreds of wallets simultaneously, and then set them on fire in a panic while trying to give them back.

    “We are analysing the situation and will release an update with further details shortly,” Parity told users.

    https://www.theguardian.com/technolo...olen-bug-ether
    Weíre tempted to suggest a conspiracy here ó but itís just liberals agreeing yet again that conservatives have hidden, evil motives, because modern liberals simply canít conceive of any other reason to disagree with the liberal consensus.

  7. #7
    INGSOC GURPS's Avatar
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    Quote Originally Posted by mAlice View Post
    In a SHTF scenario, bitcoin will not be any more accessible than your bank account.
    yeah when the lights go out, your BitCoin is just as accessible
    Weíre tempted to suggest a conspiracy here ó but itís just liberals agreeing yet again that conservatives have hidden, evil motives, because modern liberals simply canít conceive of any other reason to disagree with the liberal consensus.

  8. #8
    professional daydreamer mAlice's Avatar
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    Sofia

    Je suis prest

  9. #9
    Quote Originally Posted by GURPS View Post
    '$300m in cryptocurrency' accidentally lost forever due to bug

    More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports.

    Unlike most cryptocurrency hacks, however, the money wasn’t deliberately taken: it was effectively destroyed by accident. The lost money was in the form of Ether, the tradable currency that fuels the Ethereum distributed app platform, and was kept in digital multi-signature wallets built by a developer called Parity. These wallets require more than one user to enter their key before funds can be transferred.

    On Tuesday Parity revealed that, while fixing a bug that let hackers steal $32m out of few multi-signature wallets, it had inadvertently left a second flaw in its systems that allowed one user to become the sole owner of every single multi-signature wallet.

    The user, “devops199”, triggered the flaw apparently by accident. When they realised what they had done, they attempted to undo the damage by deleting the code which had transferred ownership of the funds. Rather than returning the money, however, that simply locked all the funds in those multisignature wallets permanently, with no way to access them.

    “This means that currently no funds can be moved out of the multi-sig wallets,” Parity says in a security advisory.

    Effectively, a user accidentally stole hundreds of wallets simultaneously, and then set them on fire in a panic while trying to give them back.

    “We are analysing the situation and will release an update with further details shortly,” Parity told users.

    https://www.theguardian.com/technolo...olen-bug-ether
    This is not a problem with BTC per se, it's a problem with wallets. The BTC aren't lost forever, it can be fixed with a hard fork -- probably already has been fixed. This is discussed in more detail on /r/ethereum on Reddit.

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