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@p0ly 498583 wrote:
But they are fictional though. a cow isn’t fictional it’s real, silver isn’t fictional it’s real.. obviously if the currencies collapsed you wouldn’t be able to use bitcoins or pounds to buy silver anymore you’d use something else.
what i’m trying to say is money is fictional…. it does nothing itself it’s just we’ve put a value to it, but silver is real, it’s uses are real and it’s traded in the same way as money.
what would you rather have if money lost all value. 2 billion dollar notes or 2 billion dollars worth of silver…
btw pm me, where in the world currently are you, we haven’t spoken for awhile. i miss you
Hmmm I see what your saying I guess. Though I’d argue it’s not ‘fictional’ just allot harder to ‘directly’ exchange for something else. If THE zombie apocalypse came upon us, silver wouldn’t really have much worth now would it, bitcoin would be worthless too at that point. Much rather have a cow myself then :P.
Had an interesting conversation with someone lastnight about bitcoin though and they begged the question what if someone gained control/more than 51% of this ‘global’ currency. They could literally control the whole world. Looking back in history, it’s hard to argue against this possibility..
i’ve been watching bitcoins for a year or so and i think electronic exchanges like this have a strong potential for the net. they went through a real boom at one point, past $23 each istr. fortunately (although not for the people who lost coins) several major heists from bitcoin exchanges brought home that you really aren’t backed by anything. just takes one person with weak security to allow forging of all the bitcoins in their keys.
i’m also not too convinced by the persistent transaction log although I take the point that you can generate a throw away ID for each transaction. But if someone can introduce or erase bitcoins from the shared log it could take a *lot* of backtracking and re-analysis to track down. Finding the stolen coinz from the penetrated exchanges would be simple beside that.
Bitcoins was at 31dollars when i got it, lulzsec the hacker group was tweeting about donations, thats how I heard about it and many others. Then several months later the creator of bitcoins cashed out, taking it down to 3usd. People we’re putting there life life savings into bitcoins thinking it was going to explode. But its just starting to stabilise again
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Forums › Life › Computers, Gadgets & Technology › The Internet › Bitcoin