Did you guys hear about Bitcoins and buying drugs online?

[WiiClock]

I just thought of something. If I were to order from the drug site, I would have to give my address, which would mean it wouldn't be very anonymous, so if anyone finds the envelope full of drugs I would be fucked.

True, it does kind of ruin the anonymity of the website, but you just have to trust the vendor that he isn't going to spread your address everywhere, or send you a postcard that says "THIS GUY TRIED TO BUY DRUGS ON THE INTERNET."

Also, you can say someone was playing a prank on you. They're not your drugs. If you're paranoid, you can also leave the envelope or package unopened for a few days, so if SWAT busts your door open and shoot your dog, you can say it wasn't for you.

How do you know what to use for username and password? Do you sign up for these at some place?

And do you guys happen to know any flags for nvidia cards? -v works for ATI only.

Depends on if you're joining a pool or mining solo. Most pools will have instructions for you. For Slush's pool at //www.mining.bitcoin.cz, you set up your username and then register a worker. Your username is your websitename.workername. Just have to search around your pool. If you're mining solo, you need to use solo utilities in Guiminer.

[WiiClock]

Also, your address is only on the website while the seller is preparing to ship your item. Once it ships, your information is obliterated into the internets. It's a little awkward right now, because a new seller can come in, offer great prices, and have people sending him their addresses left and right.

edit: I wonder how deadly shrooms would be by the time they got to my doorstep. I don't even want to imagine the temperatures USPS packages go through.

[Thor]

I don't quite understand how it has any value if you don't have to work for it.

Where do you think money comes from originally? it's just created out of thin air by the banks. Bitcoin does the same thing banks do, just with the individual producing the money instead of banks.

[Marlin Clock]

Where do you think money comes from originally? it's just created out of thin air by the banks. Bitcoin does the same thing banks do, just with the individual producing the money instead of banks.

It's credited on the faith placed in the currency, which is backed by the U.S. gold reserves, and varies due to the strength of our economy. It doesn't just come out of thin air.

[AmberArachnidClock]

It's credited on the faith placed in the currency, which is backed by the U.S. gold reserves, and varies due to the strength of our economy. It doesn't just come out of thin air.

I thought they got rid of the gold standard a while ago. Pretty sure it's just thin air now.

[WiiClock]

I thought they got rid of the gold standard a while ago. Pretty sure it's just thin air now.

I think it was Nixon. And yeah, it's pretty much thin air.

Also, why can't another currency have faith put into it? I like the idea of bitcoins a lot, and I'm not the only one.

[Marlin Clock]

It's still based on assets, right? if the market goes down the dollar goes down because asset investment into the united states economy decreases.

I guess you're saying the assets are weed and CPU power or something?

[Thor]

It's still based on assets, right? if the market goes down the dollar goes down because asset investment into the united states economy decreases.

I guess you're saying the assets are weed and CPU power or something?

You obviously have no clue how the modern economics works.

Let me make it simple for ya: Money, these days, is based on NOTHING. There is no gold standard, there are no assets backing it, it's all faith based. The banks can pretty much print an amount of money equal to the amount that they have loaned out, because loans count as assets. But if you think about it, the money they loaned out is still out there, so they're pretty much instantly doubling their money each time they make a loan. Thats a simplified version, there's a lot of confusing shit in the way money is produced.

[OvenmittClock]

hurrrray, I've made 0.05 bitcoins in 14 hours! At this rate I'll make a whole bitcoin in about 10 days, if I keep my computer on 24/7.

[buttplug]

hurrrray, I've made 0.05 bitcoins in 14 hours! At this rate I'll make a whole bitcoin in about 10 days, if I keep my computer on 24/7.

im at 0.04037197 BTC so far

[WiiClock]

What pool are you guys using?

Section of Block History

Slush's pool has gotten pretty big already. I remember when I would get around .01 per block. Not anymore!

edit: Some blocks were found while I stopped mining or stopped in the middle of a round to play games or something.

[OvenmittClock]

im on bitclockers

[buttplug]

I chose deepbit just because I like their URL. Do you think switching to slush would be a good idea?

[WiiClock]

I chose deepbit just because I like their URL. Do you think switching to slush would be a good idea?

Everyone is being advised to leave deepbit, since too many people are mining there and it's a security issue or something.

Also, yes.

And the price of BTC has fallen recently. All the way down to $23 right now. I'm pretty sad, but hopefully it'll rise again.

[Marlin Clock]

If this thing rises in popularity it would only follow that the currency would drop in value as more people mined for it I think.

[buttplug]

I'm getting a lot more accepted shares on slush.

[WiiClock]

If this thing rises in popularity it would only follow that the currency would drop in value as more people mined for it I think.

The difficulty increases as more people start mining for it. It's a built in safety feature. The same number of blocks are still mined, I believe. Also there is only a set amount of blocks to mine, and then there are no more.

[GearBoxClock]

I can't wait until this implodes because no bitcoins ever leave the system or something like that.

[Thor]

The difficulty increases as more people start mining for it. It's a built in safety feature. The same number of blocks are still mined, I believe. Also there is only a set amount of blocks to mine, and then there are no more.

So if you start early you get more rewards than people who start later, but you'll only get the reward if new people join to spite not getting much of a reward for joining....

This whole bitcoin thing is, at its heart, a pyramid scheme

EDIT: Lets be honest here, the only reason anybody uses this shit is because
a) They want free money for doing nothing
or, more rarely,
b) They're anti-establishment hippies with no understanding of economics that think nongovernment money is a good idea for for some reason. Possibly brainwashed Ziegiest guys.

When A disappears the whole thing will come crumbling down

[buttplug]

But in the meantime I can make money for free...

I don't get all the animosity directed towards this.