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Old 03-26-2011, 06:17 PM   #1
Guaranano

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Default Bitcoin: A paradigm-shift technology?
I thought about posting this a month or so ago. Several sties (including LessWrong) accept them currency as a donation.
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Old 03-27-2011, 10:04 AM   #2
luffyplayaz

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Isn't there something in the Bible warning agains this?
wtf
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Old 03-27-2011, 05:03 PM   #3
rfceicizgm

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And the LORD said, Behold, the people is one, and they have all one language; and this they begin to do: and now nothing will be restrained from them, which they have imagined to do. It's definitely a good idea.
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Old 03-27-2011, 05:50 PM   #4
Tusanoc

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No, you'd need to exceed 50 percent of the networks current processing power (currently 0.499 Thash/s, that's terra hashes per second). And then convince everyone to accept your bitcoins. The attack you describe has been discussed at length, ultimately it was found to be an unprofitable waste of time and resources. If you can afford that amount of power to throw around, there are way better things you could do with it than a loss making adventure earning you what would then be worthless coinage.
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Old 03-27-2011, 06:14 PM   #5
wp6Eg2Fm

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That sounds to me like a myth, Icelands problems were far more systemic than what some drunken idiots could do.

Traders can try and corner bitcoin, it'll make them all the more valuable. To try an corner production of bitcoins on the network, that would be an expensive headache with nothing to show at the end, and it won't even have caused bitcoin to be "toppled'.
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Old 03-27-2011, 07:47 PM   #6
tobia

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Personally, I'd just get the free bitcoins from the http://freebitcoins.appspot.com

And if you have a website where you accept donations, make it clear that you'll also accept bitcoin donations. There's really no need to get all caught up in any bubbles. Hang on to them, and keep an eye on things, you never know, they could turn out to be worth a fair bit in two or three years time.
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