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  #11  
Old 03-25-2014, 01:48 PM
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I don't have a problem with a virtual currency, as long as it is secure. Yes, people can loot banks too, but the scale of hackery is much more global than robbery. Do I make sense?
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  #12  
Old 03-25-2014, 02:35 PM
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I don't have a problem with a virtual currency, as long as it is secure. Yes, people can loot banks too, but the scale of hackery is much more global than robbery. Do I make sense?
Yes, I agree that digital currency needs to be secure. I know that MIT has some very smart minds working on this. Full disclosure: my son has built a bitcoin mining rig, and he would be what is called a "technology evangelist". So, I'd have to say I am biased toward new technology.
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Old 03-25-2014, 04:25 PM
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that's a fair point, although unless your downloads only exist in the "cloud" aren't they physical in the sense that they exist as a file that you can store on a computer, burn to a disk, etc?
Bitcoins are basically encrypted keys that sit in files on your hard drive too.
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  #14  
Old 03-25-2014, 04:56 PM
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Yes, I agree that digital currency needs to be secure. I know that MIT has some very smart minds working on this. Full disclosure: my son has built a bitcoin mining rig, and he would be what is called a "technology evangelist". So, I'd have to say I am biased toward new technology.
Here's mine.
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Old 03-25-2014, 04:57 PM
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There's an external fan blowing on it from left to right that's not in the picture.
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  #16  
Old 03-25-2014, 06:53 PM
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Here's mine.
Very cool! My son's rig uses a milk crate like yours. Is that the standard?
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  #17  
Old 03-25-2014, 07:34 PM
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Yes. Cheap with good air flow. Ability to hang gpu in crate.
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Old 03-26-2014, 10:29 PM
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call me old fashioned if you want, but I'm not interested in a digital, vaporous currency...as far as I'm concerned, if it's tangible; if it's physical; if I can touch it, hold it, and squeeze it; and if I can stand it front of it with an assault rifle and protect, it then it's a real asset...but if I can't do that then it's just an illusion, as Mt. Gox customers will attest to
Sounds like someone needs a paper wallet... or a casascius coin

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I have a fair amount of gold/silver, but I've got plenty of depreciating fiat currency also...I'm open to alternative currencies, and I thought about buying some bitcoin...but when I went to buy it I would have had to wire money from my bank to some bank in a former Soviet-bloc country in Eastern Europe...I guess that I'm not smart enough to understand the wisdom of doing that, so I declined
It is true that it's tough to obtain your first bitcoin; however, ATMs will make that easier soon enough.

Bitcoin will revolutionize the finance industry no doubt; the question is how long, and will "bitcoin" still be the name of this new digitial cryptocurrency technology that survives time.

Will the banks be able to build a tool built off this that we start using?
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  #19  
Old 04-20-2015, 01:44 PM
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Understood. But that's what a lot of people said about music when MP3 was invented. They wanted CD's and vinyl that they could touch and hold, not digital files they can download. But last year, digital downloads surpassed CD sales. It seems as if we are now in that brave new world!
it took THAT long?

wow
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  #20  
Old 04-20-2015, 01:47 PM
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Originally Posted by DixieFlyer View Post
call me old fashioned if you want, but I'm not interested in a digital, vaporous currency...as far as I'm concerned, if it's tangible; if it's physical; if I can touch it, hold it, and squeeze it; and if I can stand it front of it with an assault rifle and protect, it then it's a real asset...but if I can't do that then it's just an illusion, as Mt. Gox customers will attest to
Well your wallet needs to be stored on physical medium somewhere, whether it be on your own computer or in the cloud. So in that sense, it's physical. How is a value encoded in bits on a hard drive that much different from a value encoded in ink on paper? In this sense it would serve you well to guard your hard drive.
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