Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #40 on: January 22, 2014, 11:57:06 PM »
I didn't want to make a new thread for another Bitcoin spin-off, but I found this particular amazing.

http://www.theguardian.com/technology/2014/jan/20/jamaican-bobsled-team-raises-dogecoin-winter-olympics
You don't think I'm going to post here sober, do you?  ???

I have embraced my Benny Franko side. I'm sleazy.

Thork

Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #41 on: January 23, 2014, 12:03:23 AM »
Makes me think of John Candy. RIP, Big Guy. :'(

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Offline Rushy

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #42 on: January 23, 2014, 02:08:58 AM »
I have my computer mining Dogecoins now. The community is right, having thousands and thousands of coins, despite them being worthless, is pretty neat.

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #43 on: January 23, 2014, 02:12:10 AM »
I have my computer mining Dogecoins now. The community is right, having thousands and thousands of coins, despite them being worthless, is pretty neat.

Oh, look who called it:



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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #44 on: January 23, 2014, 02:16:48 AM »
But do you actually have any? If not then I doubt you called shit.

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #45 on: January 23, 2014, 02:20:24 AM »
Uh... what?

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #46 on: January 23, 2014, 02:31:51 AM »

Offline Blanko

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #47 on: January 23, 2014, 02:33:40 AM »
Are you asking for handouts?

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #48 on: January 23, 2014, 02:34:50 AM »
Are you asking for handouts?

Have you even seen my signature?

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #49 on: January 23, 2014, 10:10:12 AM »
I want to set up my own currency called 'Magic Beans'. You will be able to harvest beans by completing algorithms.  :-B

I'm going to go down to McDonalds with a stack of completed Times crosswords (OK, they'll be half finished Sun ones) and attempt to use them to buy burgers.

Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #50 on: January 23, 2014, 12:12:16 PM »
I'm going to go down to McDonalds with a stack of completed Times crosswords (OK, they'll be half finished Sun ones) and attempt to use them to buy burgers.

This would work if there was a limited supply of Times crosswords.

As far as I can tell BitCoin uses the algorithmic mining to control the flow of BitCoins into the market, thus producing a stable and viable currency.

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #51 on: January 23, 2014, 12:40:38 PM »
As far as I can tell BitCoin uses the algorithmic mining to control the flow of BitCoins into the market, thus producing a stable and viable currency.
"Stable" is not what I'd call it. Those fluctuations, man.
Read the FAQ before asking your question - chances are we've already addressed it.
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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #52 on: January 23, 2014, 01:35:07 PM »
As far as I can tell BitCoin uses the algorithmic mining to control the flow of BitCoins into the market, thus producing a stable and viable currency.
"Stable" is not what I'd call it. Those fluctuations, man.
I'm thinking that the term "currency" is used rather loosely as well. 
Abandon hope all ye who press enter here.

Science is what happens when preconception meets verification.

If you can't demonstrate it, then you shouldn't believe it.

Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #53 on: January 23, 2014, 03:53:11 PM »
As far as I can tell BitCoin uses the algorithmic mining to control the flow of BitCoins into the market, thus producing a stable and viable currency.
"Stable" is not what I'd call it. Those fluctuations, man.

lrn2fappenhosen

also lrn2getrichquick

Thork

Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #54 on: January 23, 2014, 08:55:53 PM »

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Offline Ghost Spaghetti

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Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #55 on: January 23, 2014, 09:05:03 PM »
The Daily Mash pretty much sums up my opinions on this pointless gimmick.

Quote
She added: “I suggested the value of Bitcoins seemed to be completely arbitrary and then asked why it was different from investing in a fictional Portuguese holiday village.

“He smiled at me and asked if I had heard of ‘electric wallets’ but he soon found himself circling back towards ‘the future’

Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #56 on: January 23, 2014, 10:21:08 PM »
The Daily Mash pretty much sums up my opinions on this pointless gimmick.

Quote
She added: “I suggested the value of Bitcoins seemed to be completely arbitrary and then asked why it was different from investing in a fictional Portuguese holiday village.

“He smiled at me and asked if I had heard of ‘electric wallets’ but he soon found himself circling back towards ‘the future’

The cost of a bitcoin doesn't need to be arbitrary. I would peg it at whatever the cost would be of renting out the cheapest supercomputer resources for however many cycles it would take to produce 1 bitcoin.
Quote from: Saddam Hussein
I don't know what you're implying, but you're probably wrong.

Saddam Hussein

Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #57 on: January 23, 2014, 10:23:38 PM »
thus producing a stable and viable currency.
Its not a currency.

http://mashable.com/2014/01/20/bitcoin-commodity-finland/

You of all people are going to accept a central bank's opinion on this issue?

Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #58 on: January 23, 2014, 10:49:53 PM »
http://www.butterflylabs.com/

That place there is charging about $9,000USD/yr to rent a machine which performs at 1GH/s for one year, which seems to be able to produce about 24 coins a day at the current difficulty level. It looks like that means that it's about $1.06/bitcoin to rent a machine for long enough that will produce exactly one bitcoin. That should be the current price of the bitcoin.
Quote from: Saddam Hussein
I don't know what you're implying, but you're probably wrong.

Thork

Re: Coinye, a Bitcoin spin-off, is being sued by Kanye West
« Reply #59 on: January 23, 2014, 10:53:24 PM »
thus producing a stable and viable currency.
Its not a currency.

http://mashable.com/2014/01/20/bitcoin-commodity-finland/

You of all people are going to accept a central bank's opinion on this issue?
Being a commodity will work in its favour. Gold is a commodity. Its valuable. Currencies can be printed until Kingdom come.

I thought the article was interesting for 2 reasons.
1) The competition to virtual currencies is now moving to remove the threat.
2) The amount of legislation in place to make them unfavourable. Paying capital gains tax if you make money. Not being able to write losses against tax. Paying income tax on mined coins. Its like they want to take money however possible from the system and give it no support at all.
Central banks do not like bitcoin. Almost (almost) makes me want to own some.