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NutLoose
7th Mar 2018, 01:34
Hats off to him

https://www.msn.com/en-gb/money/topstories/mysterious-bitcoin-donor-gives-dollar53m-worth-of-bitcoin-to-charity-groups/ar-BBJW8yP?ocid=spartandhp

megan
7th Mar 2018, 04:31
How do you turn Bitcoin into something that every one/business will accept?

PDR1
5th Feb 2019, 12:07
Well this sort of thing (https://www.bbc.co.uk/news/world-us-canada-47123371) doesn't help - it turns out that un untraceabke currency can be difficult to trace and retrieve if the owner of the exchange dies without telling anyone the passwords. Who'd have thunk it...!

PDR

Lonewolf_50
5th Feb 2019, 12:15
Bitcoin reminds me of pet rocks and beanie babies.

meadowrun
6th Feb 2019, 07:00
Still at the Mom&Pop stage of things as illustrated by the Pop dying without any associates trusted to have the password to the $250 million cold safe.
Some aspects of the concept will eventually evolve into something actually useful.

cattletruck
6th Feb 2019, 08:34
Some aspects of the concept will eventually evolve into something actually useful.

Already has, but it has more to do with being an efficient ledger at securely tracking long convoluted and complex transactions flows rather than being intrinsically worth anything.

Tankertrashnav
6th Feb 2019, 23:29
What I don't understand (and being a computer thicko it's hardly surprising) is that we are used to being told that our phones have more computing power than was used to get the Appollo spacecraft to the moon, and similar analogies.

That said, why is it that apparently the power being used to "mine" bitcoins (whatever the heck that means) is now approaching that used by a small country. Is that true (maybe it is rubbish) but if it is, why is it so?

abgd
7th Feb 2019, 05:11
It's because bitcoin mining is competitive: as more people get involved and buy and run more hardware, the difficulty of mining a bitcoin increases. So advances in computing don't translate to making bitcoin mining more energy efficient.

It probably does use as much energy as some small countries. Some of that will be renewable but I believe there are a lot of coal-burning bitcoin miners in China.

finalchecksplease
7th Feb 2019, 07:41
Well this sort of thing (https://www.bbc.co.uk/news/world-us-canada-47123371) doesn't help - it turns out that un untraceabke currency can be difficult to trace and retrieve if the owner of the exchange dies without telling anyone the passwords. Who'd have thunk it...!

PDR

He might not be dead...

Private jet
8th Feb 2019, 21:51
The "structure" of all these "crypto-currencies" are different from Ponzi schemes in what way?

Tankertrashnav
8th Feb 2019, 23:16
Thanks abgd - it still seems difficult to understand, but I assume it must be true.

under_exposed
10th Feb 2019, 13:26
The "structure" of all these "crypto-currencies" are different from Ponzi schemes in what way?
A hard limit on the number available.