Meet Bitcoin Fastest growing currency in the world

[the mechanic]

Bitcoin is an unregulated, uncontrolled online currency – worth more than £500m, it's the world's fastest growing. It can be used to buy drugs, move money across the world, or get rich quick. The people behind Bitcoin speak to the Guardian's James Ball at their home in a squat in central London

[ame="https://www.youtube.com/watch?v=RQPBVOwLKcM"]https://www.youtube.com/watch?v=RQPBVOwLKcM[/ame]

The sovereign mans dream..money free from government control

I wanted to get into this last year but i always figured Bernake and Barry would find a way to demonize this or link it to terrah organizations before it got large enough to threaten the greenback.

What does HL think??

 

[Yung Yogurt]

it's cool but I been using bitcoin for like 20 years now...nikkas is late

 

[the mechanic]

it's cool but I been using bitcoin for like 20 years now...nikkas is late

20 years???


The algorithms were developed in 2009...


perhaps youre thinking of

 

[Robbie3000]

subs. We'll have to look into this before i take a dive into the deep internets.

 

[Julius Skrrvin]

all i gotta say is that thr deep web is a fukked up place

silk road

 

[The Real]

The sovereign mans dream..money free from government control

I wanted to get into this last year but i always figured Bernake and Barry would find a way to demonize this or link it to terrah organizations before it got large enough to threaten the greenback.

What does HL think??

Governments and businesses won't allow it to succeed, but if it does, then big business will swoop in and ruin its potential by operating in full predator mode without any government regulations to stop them.

 

[Hood Critic]

I'm not sure what to make of the BitCoin mania.

The real cause of the recent spike in value:

Starting from 2009 the number of Bitcoins generated every 10 minutes was roughly 50, every 210,000 generations (approximately 4 years) the creation rate drops in half (50, 25, 12.5, etc), the number of Bitcoins in circulation will never number more than 21 million...

On the other hand, the mining process seems interesting and if done correctly could turn a short term profit.

BitCoins just feel like a bubble or a threat to the financial systems who will seek to regulate them as they become tax havens and viable money laundering vehicles...or hell, both.

Either way, I think a lot people - including myself - see a means to make some quick money.

 

[Tommy Knocks]

 

[Meta Reign]

A few weeks ago congress introduced legislation (or looked into it) seeking to "regulate" virtual currencies. They're seeking to directly attack Bitcoin. Bitcoin is well protected though, it's basically impossible to regulate.

My main concern with Bitcoin is that I feel that in any real disaster, that electricity would be absent, thus making Bitcoin obsolete. Other than that, it's awesome. A true freemarket currency.

 

[Roaden Polynice]

fukk y'all, I'm converting my savings into BitCoin

Innanet money, currency of the future :dealwithit:

 

[villain]

volatile currencies aren't good currencies

 

[throughthefire]

lol if something ever happens to the bitcoin servers..you're fukked..and knowing that the 21st centruy will be all cyberwar...

 

[Brown_Pride]

Isn't all money imaginary? (or at least the value it represents.)

I'm not converting my savings just yet but might have to take a look at this.

 

[Berniewood Hogan]

YOU GUYS LIKE TO COMPLAIN ABOUT FIAT CURRENCY BUT YOU WANT TO INVEST IN DIGITAL MONEY, BROTHER? "COIN" FILES KEPT IN A WINDOWS FOLDER NEXT TO YOUR FUNNY CAT GIFS AND PORN, DUDE?

 

[Brown_Pride]

YOU GUYS LIKE TO COMPLAIN ABOUT FIAT CURRENCY BUT YOU WANT TO INVEST IN DIGITAL MONEY, BROTHER? "COIN" FILES KEPT IN A WINDOWS FOLDER NEXT TO YOUR FUNNY CAT GIFS AND PORN, DUDE?

Sure there are tons of problems with it, hacking and the such but still, this will most likely be the future...or something like it. Might as well test teh waters with a little cash see how it's gonna pan out.