This bitcoin thing is retarded. Here is why. You can mine bitcoins out "thin air". This is ridiculous since mining bitcoins does nothing of any value for another person. Currency is a way to show debt. No one should be indebted to me for having joined the Bitcoin network before them or having a faster computer. Those who have mined bitcoins are therefore akin to the bankers of standard forms of currency. There is nothing decentralized about this. This is yet another form of flag planting.
Bitcoins have no basis in anything of value. Of course, the USD doesn't either, but people already use the USD, and you don't need an internet connection to use it.
A better solution would be to go back to the roots of currency and use precious metals, such as copper, silver, and gold. Get your scales out. (;
@JarodBenowitz well there isnt an unlimited supply. and yes.. if you have access to a quantum computer you could become very rich very fast... however... Im not sure java could make use of that kind of hardware, you would peak out some how. or you would have to run multiple instances of a miner.... care to donate?
@JarodBenowitz You would probably be wholly amazed to hear the developers have thought of that. Realisticly, a quantum computer that has enough qubits to out hash the existing algo used by the network is about 20 years out. Well before that happens Bitcoin can be updated to utilize sha-512, sha-1024, etc. Being familiar with quantum computers you likely can do the math easier than I can and determine how many millions of years it would take to break them.
@xferociousx I'd disagree and say they are about 8 to 12 years away. I also believe that quantum algorithms are capable of proving P = NP since nature on the most fundamental level displays behavior suggesting on such levels P infact does equal NP. It's highly plausible to build an optical network mimicking the Traveling Salesman Problem by shooting photons in a crystal lattice nano structure allowing them to cohere through the entire lattice retroactively collapsing on the shortest pathway.
@JarodBenowitz We could observe which pathway the photons took by measuring the increased energy levels of the crystal lattice as photons were absorbed. Observing the precise pathway won't be easy if even possible.
can you explain to me my 2 dumb questions please.. 1. You using your computer and being on the internet generates bitcoins?? 2. Are we able to use these bitcoins for online purchasing as of now??
@MrElcangripai first thing no not really. ignore mining, its almost impossible to do now unless you have like 5 video cards. yes you can actually buy things from quite a few bitcoin stores
can you explain to me my 2 dumb questions please.. 1. You using your computer and being on the internet generates bitcoins?? 2. Are we able to use these bitcoins for online purchasing as of now??
Is it true that bitcoins are stored on a folder in your folder? If so, does that mean your bitcoin address can be completely deleted? And if they are, how is counterfitting prevented? I only have a basic knowledge of P2P networks, a layman. Please explain this to me.
@RoboticusMusic Oh no! Someone can steal my wallet! Like that couldn't happen in real life... If you want to split it up you can make multiple wallets and you can even encrypt your wallets while they're not in use to prevent wallet theft. There are even Bitcoin banks. Stop being an idiot.
ANYONE CAN STEAL YOUR BITCOIN WALLET! WHATS THE POINT IF THEY'RE NEARLY IMPOSSIBLE TO COUNTERFEIT IF ANY HACKER CAN STEAL YOUR WHOLE WALLET! WHY DO YOU THINK THE MARKET WENT FROM $30 TO 7$? SELL SELL SELL YOU'LL THANK ME LATER.
whats the point when i can just ge money 4 free? yah may take time but it isn't wort anything as this is like making a bank hard to break in to but it is legale to break in to it
Someone please send me a coin or part of one this looks so interesting but it is very hard to figure out how to get one. Thank you to anyone that helps. 1MXv2b3Tmvgw97RzTaEfaskDK7WgTHCofH
@ampix0 You mean the Bitcoin standard allows for the definition of a Bitcoin amount to eight decimal places. 0.00000001 BTC is also commonly referred to as 1 Satoshi.
@Random4021 well it takes a LONG LONG time to mine one bitcoin lol. XD not really worth mining unless you have an AMAZING computer with crossfire cards and what not
@insaneHacker999 You mean if no one was to buy things with their bitcoins? yes I suppose it would break. How ever if someone is selling it and you have the coins and you want it.. you are going to buy it. The coins have some kind of value no matter how you look at it.
@insaneHacker999 Ok so. Every transaction you make, charges a small fee. these fees are lumped together in block of 50 and added to the network. The block is then encrypted by EVERY node on the network. Once you decrypt it all the way, you get the jackpot of money inside. Its how the system circulates money and secures it from being double spent, stolen, you know.
@halfvampire2 well You personally wouldnt break the block. you would get your fair share of the block being broken by all of you. your shares are going to be VERY low. I would probably not even mine if I was you. Sell stuff or offer a service.
sounds to me like anon is trying to get ppl to run hash cracking programs and trying to trick them into thinking there not tied to anon legion. well you guys dont forgive dont forget. i dont forget and can find yas anytime throught your ips
@TheBlackOpsTeam I also had that idea but I'm goign to ahve to say no for a few reason. The cost of a VPS in itself would make it inefficient. Next most VPS's dont have video cards at all since they are required to do no graphics. And the processors are simply not enough. What some people do is make mining rigs. They buy inexpensive motherboards and x-fire 2 expensive ass graphics cards. Try just offering some kind of service for coins
@edward1432 You are going to want to start "mining" now then. It will be IMPOSSIBLE to get money mining in the near future. Or at least not cost effective because of the amount of power your GFX card will consume. It takes longer to break every block, and every new person joining the network makes the blocks harder to break and each person joining a pool splits the profits that much further.
sounds really cool and I don't usually like the idea of a 1 world currency but since it is anonymous I can dig it..I think I am going to try it. Thanks for this awesome info.
so bitcoin is used for generate rainbow table, am I right?
dt9394 1 month ago
This bitcoin thing is retarded. Here is why. You can mine bitcoins out "thin air". This is ridiculous since mining bitcoins does nothing of any value for another person. Currency is a way to show debt. No one should be indebted to me for having joined the Bitcoin network before them or having a faster computer. Those who have mined bitcoins are therefore akin to the bankers of standard forms of currency. There is nothing decentralized about this. This is yet another form of flag planting.
jorthyf 1 month ago
@jorthyf ok well you go ahead and try to mine some bitcoins. You can't you need to work together with hundreds of other people
ampix0 1 month ago
@ampix0
That's because the "easy" to mine blocks have already been taken. Derp.
jorthyf 1 month ago
help plz. i keep getting this message when i try to run guiminer.
ImportError: DLL load failed: The specified module could not be found.
sabino455 3 months ago
Comment removed
sabino455 3 months ago
Bitcoins have no basis in anything of value. Of course, the USD doesn't either, but people already use the USD, and you don't need an internet connection to use it.
A better solution would be to go back to the roots of currency and use precious metals, such as copper, silver, and gold. Get your scales out. (;
stalker7d7 3 months ago
so by lots of computers and have them make money for you?
Timb0NZ 3 months ago
The quantum computer in my lab can mine blocks within microseconds. I could generate trillions of bitcoins if I wanted to.
JarodBenowitz 4 months ago
@JarodBenowitz well there isnt an unlimited supply. and yes.. if you have access to a quantum computer you could become very rich very fast... however... Im not sure java could make use of that kind of hardware, you would peak out some how. or you would have to run multiple instances of a miner.... care to donate?
ampix0 4 months ago
@ampix0 not to mention that quantum computers dont exist yet. so he is talking out his ass.
BoxxyBrassin 1 month ago
@JarodBenowitz You would probably be wholly amazed to hear the developers have thought of that. Realisticly, a quantum computer that has enough qubits to out hash the existing algo used by the network is about 20 years out. Well before that happens Bitcoin can be updated to utilize sha-512, sha-1024, etc. Being familiar with quantum computers you likely can do the math easier than I can and determine how many millions of years it would take to break them.
xferociousx 2 months ago
@xferociousx I'd disagree and say they are about 8 to 12 years away. I also believe that quantum algorithms are capable of proving P = NP since nature on the most fundamental level displays behavior suggesting on such levels P infact does equal NP. It's highly plausible to build an optical network mimicking the Traveling Salesman Problem by shooting photons in a crystal lattice nano structure allowing them to cohere through the entire lattice retroactively collapsing on the shortest pathway.
JarodBenowitz 1 month ago
@JarodBenowitz We could observe which pathway the photons took by measuring the increased energy levels of the crystal lattice as photons were absorbed. Observing the precise pathway won't be easy if even possible.
JarodBenowitz 1 month ago
@JarodBenowitz no you couldn't, go read.
nicolaicandeias 1 day ago
Americans & the World needs to go to there Banks and ask for their Money and Close your Bank Accounts ON November 5th 2011
Bank of America . ..JP Morgan .Chase Bank ... Wells Fargo.. Citi Bank......
Customers Close your Accounts .... Just Go to your local Bank And tell them you want your Money and to Close your Account
Join a Small Community banks and credit unions
November 5th 2011
November 5th 2011
November 5th 2011 Re----------->Post? this Message
The Only way to get @ Wall St .
dell1940 4 months ago
@dell1940 normally I would remove this. However.. i agree. but i can not participate
ampix0 4 months ago
you can shove your bitcoin most communities are going to barter systems, your bitcoin is just another form of control currency.
pkdragon100 4 months ago
can you explain to me my 2 dumb questions please.. 1. You using your computer and being on the internet generates bitcoins?? 2. Are we able to use these bitcoins for online purchasing as of now??
MrElcangripai 4 months ago
@MrElcangripai first thing no not really. ignore mining, its almost impossible to do now unless you have like 5 video cards. yes you can actually buy things from quite a few bitcoin stores
ampix0 4 months ago
can you explain to me my 2 dumb questions please.. 1. You using your computer and being on the internet generates bitcoins?? 2. Are we able to use these bitcoins for online purchasing as of now??
MrElcangripai 4 months ago
could you do a tutorial on how to setup the mining pool program?
TheCzarAlex 5 months ago
does this mean bitcoin will die?
more people = less money for each person?
Foristality 5 months ago
Is it true that bitcoins are stored on a folder in your folder? If so, does that mean your bitcoin address can be completely deleted? And if they are, how is counterfitting prevented? I only have a basic knowledge of P2P networks, a layman. Please explain this to me.
Keitaro2011 5 months ago
@Keitaro2011 idk who the hell told you that lol. no it is an incredibly complicated concept that not even I can understand.
ampix0 5 months ago
@texuxi public keys or not is encrypted you used the word cryptography in your argument.
ampix0 6 months ago
@RoboticusMusic Oh no! Someone can steal my wallet! Like that couldn't happen in real life... If you want to split it up you can make multiple wallets and you can even encrypt your wallets while they're not in use to prevent wallet theft. There are even Bitcoin banks. Stop being an idiot.
evilfindish 6 months ago
ANYONE CAN STEAL YOUR BITCOIN WALLET! WHATS THE POINT IF THEY'RE NEARLY IMPOSSIBLE TO COUNTERFEIT IF ANY HACKER CAN STEAL YOUR WHOLE WALLET! WHY DO YOU THINK THE MARKET WENT FROM $30 TO 7$? SELL SELL SELL YOU'LL THANK ME LATER.
RoboticusMusic 6 months ago
whats the point when i can just ge money 4 free? yah may take time but it isn't wort anything as this is like making a bank hard to break in to but it is legale to break in to it
techTVids 7 months ago
do you use a bitcoin ("debit card/efpost card")
or do you just need to use any computer?
NYWAORCANZ 7 months ago
fuck bit coins, buy gold and silver
BrulesRules001 8 months ago
@BrulesRules001 screw gold and silver, buy bit coins
RefreshChannel 7 months ago
Wow, this looks awesome.
Once my Radeon 6970 gets here in two days I might try this :D
Ryuk 8 months ago
Where do I start with Bitcoin, I have a wallet but I have no idea what to do.
soulshadow75 8 months ago
This has been flagged as spam show
Someone please send me a coin or part of one this looks so interesting but it is very hard to figure out how to get one. Thank you to anyone that helps. 1MXv2b3Tmvgw97RzTaEfaskDK7WgTHCofH
helpMegetAcoin 8 months ago
can you pay in pices of a bitcoin like bitcents
TheDiver302 8 months ago
@TheDiver302 yup a bitcoin is divisible up to 8 times
ampix0 8 months ago
@ampix0
Actually it divides down to 8 decimal places. So you could send 0.00000001 Bitcoins if you needed.
rogerver 8 months ago
@ampix0 *up to 8 digits..
TwiiKuu 8 months ago
@ampix0 You mean the Bitcoin standard allows for the definition of a Bitcoin amount to eight decimal places. 0.00000001 BTC is also commonly referred to as 1 Satoshi.
nurihodges 6 months ago
how much exactly is 1 bitcoin worth in comparison to US dollars
Random4021 9 months ago
@Random4021 at the moment $7
ampix0 9 months ago
@ampix0 dang so thats actaully pretty valuable.
Random4021 9 months ago
@Random4021 well it takes a LONG LONG time to mine one bitcoin lol. XD not really worth mining unless you have an AMAZING computer with crossfire cards and what not
ampix0 9 months ago
@ampix0 at the moment 18
666alberto 8 months ago
@ampix0 It is up to $30 per bitcoin now!
rogerver 8 months ago
@ampix0 its about 15 right now, hit up to 30 earlier this month.
infinitesolutions09 8 months ago in playlist BitCoin
@Random4021 $10 now
jcdobber 8 months ago
@Random4021 at the moment $20
graingert 8 months ago
@Random4021 its 12-17$
USoundMad 6 months ago
@insaneHacker999 You mean if no one was to buy things with their bitcoins? yes I suppose it would break. How ever if someone is selling it and you have the coins and you want it.. you are going to buy it. The coins have some kind of value no matter how you look at it.
ampix0 9 months ago
@insaneHacker999 Ok so. Every transaction you make, charges a small fee. these fees are lumped together in block of 50 and added to the network. The block is then encrypted by EVERY node on the network. Once you decrypt it all the way, you get the jackpot of money inside. Its how the system circulates money and secures it from being double spent, stolen, you know.
ampix0 9 months ago
Very well done video.
nlucctw2 9 months ago
@nlucctw2 thank you sir.
ampix0 9 months ago
So I'm breaking 35 hashs/s, how long do you think it will take to break one block, while using the pool mining?
halfvampire2 9 months ago
@halfvampire2 well You personally wouldnt break the block. you would get your fair share of the block being broken by all of you. your shares are going to be VERY low. I would probably not even mine if I was you. Sell stuff or offer a service.
ampix0 9 months ago
sounds to me like anon is trying to get ppl to run hash cracking programs and trying to trick them into thinking there not tied to anon legion. well you guys dont forgive dont forget. i dont forget and can find yas anytime throught your ips
Cronotfalcon 9 months ago
Wasnt BitCoins originally a concept made up on the "DeepWeb" ?
TehWipeout 9 months ago
Don't forget it's NOT about mining, it's about using it as a currency... People tend to see it as making free money, which it is not...
kwukduck 9 months ago 21
Would running it from a VPS get a decent amount of bitcoins?
TheBlackOpsTeam 9 months ago
@TheBlackOpsTeam I also had that idea but I'm goign to ahve to say no for a few reason. The cost of a VPS in itself would make it inefficient. Next most VPS's dont have video cards at all since they are required to do no graphics. And the processors are simply not enough. What some people do is make mining rigs. They buy inexpensive motherboards and x-fire 2 expensive ass graphics cards. Try just offering some kind of service for coins
ampix0 9 months ago 4
@ampix0 Ah thanks for the info! Was tempted to run it from my vps with 1gb, probably not much point though :)
TheBlackOpsTeam 9 months ago
Heh, I might use it when it becomes popular and a lot of sites like ebay use it.
edward1432 9 months ago
@edward1432 You are going to want to start "mining" now then. It will be IMPOSSIBLE to get money mining in the near future. Or at least not cost effective because of the amount of power your GFX card will consume. It takes longer to break every block, and every new person joining the network makes the blocks harder to break and each person joining a pool splits the profits that much further.
ampix0 9 months ago
sounds really cool and I don't usually like the idea of a 1 world currency but since it is anonymous I can dig it..I think I am going to try it. Thanks for this awesome info.
stopthepolicestate 9 months ago
So its like a "game" that gives you "money" that you can use on a lot of websites? I don't get it o_O
TitanIsBack 9 months ago
messy...
hennu50 9 months ago
@hennu50 sorry It was a very hard thing to describe lol
ampix0 9 months ago