because it is a fake currency that is not backed by anything, nor is it tangible. They say it will be limited to 21 million bitcoins, but awhile back bitcoins were valued at .005 cents, so 20 bitcoins to make a penny. Now bitcoins are around $17-18 each? These type of sites are always improving and there will be a new fad or improved version of this type of site that people will flock too. The people that started this or got in early have made a shit ton of cash and at some point current/future members are going to get left holding the bag. Also i believe its expensive as shit to get yourself up to a decent mining rate, read people spend anywhere from $2500 to $10000 on their server farms/upgrades to try to earn more money + your electric bill will suck when your computer is running 24 hrs a day, 7 days a week at a high level.
You know more than I do. What the hell is bit mining? I downloaded the program on their site and it's just running. They say it's solving some mathematical problem. Do you know what any of this means? When it solves the problem you get a block and then the coins are split between everyone.
The client is basically running mathematical functions, looking for hash values that match the target difficulty of the network.
It's like a digital lottery, if your bitcoin client wins, you get 50 bitcoins. But it really secures the network.
Pretty funny, I posted about bitcoins in Feb when bitcoins were under $1 each. It got marked as spam/scam and moved to site promo forum: http://www.therxforum.com/showthread.php?t=830165
Now they are worth over 14$ each...Some scam - it really is amazing stuff and perfect for sportsbetting.
It's like a digital lottery, if your bitcoin client wins, you get 50 bitcoins. But it really secures the network.
Pretty funny, I posted about bitcoins in Feb when bitcoins were under $1 each. It got marked as spam/scam and moved to site promo forum: http://www.therxforum.com/showthread.php?t=830165
Now they are worth over 14$ each...Some scam - it really is amazing stuff and perfect for sportsbetting.
I don't know about bitcoin mining but I would think bitcoins could replace Neteller as they are under no obligation to report anything to any government. Just transfer some money to a bitcoin bank and transfer bitcoins to a sportsbook for credit (if they started accepting bitcoins as payment).
It is a money system outside international banking.
It is a money system outside international banking.
glad i didn't listen to ya before getting some back in Feb at less than $1 apiece - good try though.
QL is right. It's something so outside the normal money/banking system - there is no central authority to shut down, be it neteller or a poker site. Most people can't wrap their heads around it. They have tried to shut down torrents of music and movies for years, it's just not possible.
People want to know about this and you're not being very helpful, especially repeating yourself.
Tulip mania or tulipomaniahttp://en.wikipedia.org/wiki/Dutch_language was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed.
