BitCoin from the USER's viewpoint

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September 4th, 2013 at 11:01:48 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
Bitcoin is hoped to become the "coin purse" of internet commerce or the "Toss Quarter Here" machine at a highway toll booth.

Viewers want to read newspaper articles but often a variety of search engines point to newspapers or other sites with "toll barriers" on the information superhighway. Registration, modest subscription fees, pay now and maybe never use it again deals, etc.

Bitcoin will be the "automatic payment of a few pennies of pocket change" for visiting sites.

The toll booth on the information highway, the coin jar for the coffee refill, the "coin purse" for any number of pay per view services that you select to pay for. Sort of a credit card that is happy to process a transaction of twelve cents.

Forbes:Sept 3.
BitMonet link lost on my computer due to lightning strike.
September 8th, 2013 at 4:16:24 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
"Canadian Bitcoin enthusiasts will be able to exchange Canadian cash for the digital currency through a kiosk that's similar to an ATM. Bitcoiniacs says it has ordered five Bitcoin kiosks from a Las Vegas-based company called RoboCoin and intends to roll them out across Canada in the coming months, with the first machine expected to land in Vancouver in early October.
Slashdot.
September 11th, 2013 at 5:22:45 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
No indication of why Canadians would suddenly want bitcoins jangling in their pockets as they walk around Vancouver, but ... .
October 1st, 2013 at 9:03:20 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
A sinkhole used 561,000 dollars worth of electricity to make 2,000 dollars worth of Bitcoins

Can someone explain this to me?
October 30th, 2013 at 11:26:16 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: Fleastiff
A sinkhole used 561,000 dollars worth of electricity to make 2,000 dollars worth of Bitcoins

Can someone explain this to me?


http://en.wikipedia.org/wiki/Botnet
http://en.wikipedia.org/wiki/DNS_Sinkhole

What precisely is your question? It is not very efficient to use 230 times as much money to create money, but the electricity is all stolen.
November 4th, 2013 at 9:21:52 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
Bitcoining mining protocol can be exploited by a selfish bitcoin mining pool thus undermining the entire currency.

http://slashdot.org
http://arxiv.org/abs/1311.0243
December 2nd, 2013 at 7:34:29 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
Recent events:

Massive theft as a result of DDOS attack on bitcoin sites.

Investor loses 7 and a half million dollars when he throws out old hard drive with bitcoin fortune on it.
December 14th, 2013 at 9:00:10 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
It seems there have been several Bitcoin knockoffs... one was LiteCoin and its popularity has grown to the point that graphics cards are now in short supply.
January 23rd, 2014 at 7:50:39 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
Okay, so a week ago it was Pornography would be the savior of BitCoin
and today its Death Threats Fly As 100 Million Is Stolen..
February 9th, 2014 at 12:56:07 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
Florida state law used against bitcoin exchanges and bit coin face to face facilitators.

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