Bitcoin virtual currency hits (ALL-TIME) record high after exchange deal - Polidicks

[QUOTE=Killuah;39747918]There is no such thing as a decentralized currency.[/QUOTE] Why are people dumbing this. A currency is only worth as much as people are agreeing on. The "central" is the entity that people use to find an agreement.

[QUOTE=Killuah;39747904]It is NOT decentralized. Bitcoins CAN NOT EXIST WITHOUT AN EXCHANGE CURRENCY.[/QUOTE] uhhh sure they can; you can trade using bitcoins.

Do it. Sell the 4k [editline]28th February 2013[/editline] [QUOTE=Robbobin;39748012]uhhh sure they can; you can trade using bitcoins.[/QUOTE] The bitcoin prices are currently set by using the dollar/euro as a measure.

[QUOTE=Reader;39747975]I bet your dealer doesn't have mescaline sulfate or even knows what it is.[/QUOTE] yeah silkroad is definitely the only place you can get mescaline you dummy

[QUOTE=Lazor;39747954]silkroad may as well just be USD. the amount of bitoins you need is adjusted automatically depending on the exchange rate so bitcoins may as well be chuck-e cheese tokens. also, my dealer is just a text away, so[/QUOTE] What? The reason they use Bitcoins is because it's anonymous and untrackable while still being convenient (you don't have to send cash in mail if you want to make anonymous payments). And I have RL-dealers as well, but many more exotic things and banned research chemicals I couldn't even dream of finding here so I have to resort to using the internet.

[QUOTE=Lazor;39747905]so unless you're some libertarian jerk off, this "currency" is pointless[/QUOTE] Most importantly you can buy other currencies with them But other then that: VPN, Web Design, Graphics Design, Webhosting, Dedicated servers, VPS, Domains, Clothes, Porn, VOIP, FTP servers, Music, Digital Downloads, Electronics, Drugs. And more: [url]https://en.bitcoin.it/wiki/Trade[/url]

[QUOTE=Killuah;39748014]The bitcoin prices are currently set by using the dollar/euro as a measure.[/QUOTE] so? they're *a* measure, but they're not the only one. I can participate in the bitcoin economy without having a single dollar/euro to my name. you're just wrong.

[QUOTE=Lazor;39748023]yeah silkroad is definitely the only place you can get mescaline you dummy[/QUOTE] Yes, pretty much. Can you even find LSD on streets these days? I doubt it, let alone pure mescaline. There are lots of stuff on SR and I don't see how SR would work out without Bitcoin or something similar.

[QUOTE=OldFusion;39748031]Most importantly you can buy other currencies with them But other then that: VPN, Web Design, Graphics Design, Webhosting, Dedicated servers, VPS, Domains, Clothes, Porn, VOIP, FTP servers, Music, Digital Downloads, Electronics, Drugs. And more: [url]https://en.bitcoin.it/wiki/Trade[/url][/QUOTE] why the fuck would i purchase any of those with bitcoins when the price is pegged to usd. all it would do is make it easier to get scammed and be less convenient

[QUOTE=Robbobin;39748037]so? I can participate in the bitcoin economy without having a single dollar/euro to my name. you're just wrong.[/QUOTE] No you can't unless you pay your electrical bill with bitcoins but that is a paradox.

[QUOTE=Killuah;39747904]It is NOT decentralized. Bitcoins CAN NOT EXIST WITHOUT AN EXCHANGE CURRENCY. And now Mega and a few others accept bitcoin. Now guess what determines prices? That's right, the dollar, or more specific: the trade value determined by the exchange sites. There you have your centrals. "Using a dollar kind of avoids that benefit." That's why I said "flexible currency conversion".[/QUOTE] It is decentralized. It's not tied to anything or anyone. The currency you see tied to it is simply the value that you can compare it to. "if I converted this to a dollar, how many would I get" That's all. As far as mega goes, they are changing the number of bitcoins in comparison to what they are worth a dollar which is obviously a major international currency. But it's not TIED to the dollar.

[QUOTE=Reader;39748046]Yes, pretty much. Can you even find LSD on streets these days? I doubt it, let alone pure mescaline. There are lots of stuff on SR and I don't see how SR would work out without Bitcoin or something similar.[/QUOTE] lol are you fucking kidding me

[QUOTE=Killuah;39748014]Do it. Sell the 4k [editline]28th February 2013[/editline] The bitcoin prices are currently set by using the dollar/euro as a measure.[/QUOTE] Exactly, a MEASURE. Not a value.

[QUOTE=Lazor;39748059]lol are you fucking kidding me[/QUOTE] No I'm not. How long would it take you to find, say MXE? It takes you few minutes on SR. It's simply impossible to find specific psychs on streets, you just buy what your dealer has, if he has any.

[QUOTE=Killuah;39748051]No you can't unless you pay your electrical bill with bitcoins but that is a paradox.[/QUOTE] okay [I]in practice[/I] it might be difficult but in theory it's perfectly possible for bitcoins to have value independently of other currencies. you can trade bitcoins for dollars but that doesn't determine its value.

i've purchased literally every drug you've mentioned without interacting with silk road

[QUOTE=Killuah;39747783]I buy a bitcoin from a dude who mined 10 years ago. I pay much more for the coin than he did. Money goes from me to him. What return value goes to me?[/QUOTE] You now own the bitcoin. I don't understand your question. Generally currencies inflate. Lose value over time, this one seems to be deflating because the supply of coins is not increasing too much in comparison to the amount of users joining, less bitcoins per user thus increases their value relative to other currencies, which is why the amount of dollars you get per bitcoin is rising. Well you bought a valuable bitcoin. If he mined it, he payed with his time and power. I think your question is silly or badly layed out. You could apply it to almost anything. I go to a concert and get a 5 dollar shirt signed by a huge band. In 50 years it's worth 10,000x as much lets say. And someone buys it. What value did they get? They got a shirt that's worth that amount of money.

[QUOTE=Lazor;39748083]i've purchased literally every drug you've mentioned without interacting with silk road[/QUOTE] You really come off as an elitist fuck who hates bitcoins just for the sake of hating it. What is so wrong with SilkRoad? It's a working and safe concept that has really proven itself so far, you can't do a huge market like that for drugs by using USD as currency and expect it to survive more than a month. Okay so you don't have to use it because you can apparently get every drug in existence from your dealer a phonecall away (yeah right), how great for you. But not everyone are so lucky.

[QUOTE=Brt5470;39748057]It is decentralized. It's not tied to anything or anyone. The currency you see tied to it is simply the value that you can compare it to. "if I converted this to a dollar, how many would I get" That's all. As far as mega goes, they are changing the number of bitcoins in comparison to what they are worth a dollar which is obviously a major international currency. But it's not TIED to the dollar.[/QUOTE] This is like saying a river is not tied to its bed because water is not bound to flow in a determined direction. You are not thinking this abstract enough. The concept of a "currency" creates centers because it needs an interface to the "goods" to determine its worth, whether it's part of it's surrounding design or not. That interface will always be a center. Right now that interface , just by unconcious vote of majority(of users), is the dollar. It's self organizing.

[QUOTE=Lazor;39747802]hey dingus, the production of bitcoins is the same whether you have a million asics on the network or a single shitty P4. also, deflationary currencies are fucking idiotic[/QUOTE] [url]https://en.bitcoin.it/wiki/Difficulty[/url]

[QUOTE=Brt5470;39748089]You now own the bitcoin. I don't understand your question. Generally currencies inflate. Lose value over time, this one seems to be deflating because the supply of coins is not increasing too much in comparison to the amount of users joining, less bitcoins per user thus increases their value relative to other currencies, which is why the amount of dollars you get per bitcoin is rising. Well you bought a valuable bitcoin. If he mined it, he payed with his time and power. I think your question is silly or badly layed out. You could apply it to almost anything. I go to a concert and get a 5 dollar shirt signed by a huge band. In 50 years it's worth 10,000x as much lets say. And someone buys it. What value did they get? They got a shirt that's worth that amount of money.[/QUOTE] what you're describing is a commodity, not a currency

[QUOTE=Turing;39747707]i mined a shitton in 2009. i have 780 BTC :smile: i think i should sell some[/QUOTE] That's just under $30,000 for those who can't be bothered to calculate.

For everyone saying ZOMG I COULD BE RICH RIGHT NOW: do you really think you would be able to SELL your bitcoins right now?

[QUOTE=SPESSMEHREN;39748121]For everyone saying ZOMG I COULD BE RICH RIGHT NOW: do you really think you would be able to SELL your bitcoins right now?[/QUOTE] There's always a rich idiot thinking "omg it's gonna be worth EVEN MORE"

[QUOTE=Lazor;39748083]i've purchased literally every drug you've mentioned without interacting with silk road[/QUOTE] You probably haven't but you may have I don't care. Point is your dealer probably has nothing more than weed, crack and few bad ecstasy pills in his inventory right now.

Please don't derail this into dealer and sources dick waving thanks i.a.

[QUOTE=Mindtwistah;39748104]You really come off as an elitist fuck who hates bitcoins just for the sake of hating it. What is so wrong with SilkRoad? It's a working and safe concept that has really proven itself so far, you can't do a huge market like that for drugs by using USD as currency and expect it to survive more than a month. Okay so you don't have to use it because you can apparently get every drug in existence from your dealer a phonecall away (yeah right), how great for you. But not everyone are so lucky.[/QUOTE] when did i ever say i got them all from the same dealer? learn to read, dummy. if you seriously think that silk road(which is definitely being investigated by the police, idiots) is the only way to get psychedelics then lol, just lol.

[QUOTE=Lazor;39748142]when did i ever say i got them all from the same dealer? learn to read, dummy. if you seriously think that silk road(which is definitely being investigated by the police, idiots) is the only way to get psychedelics then lol, just lol.[/QUOTE] Investigated by police? There is absolutely no way they can track down buyers.

[QUOTE=Killuah;39748136]Please don't derail this into dealer and sources dick waving thanks i.a.[/QUOTE]

[QUOTE=Killuah;39748110]This is like saying a river is not tied to its bed because water is not bound to flow in a determined direction. You are not thinking this abstract enough. The concept of a "currency" creates centers because it needs an interface to the "goods" to determine its worth, whether it's part of it's surrounding design or not. That interface will always be a center. Right now that interface , just by unconcious vote of majority(of users), is the dollar. It's self organizing.[/QUOTE] This whole argument undermines the whole point of bitcoins. They're supposed to act as a alternative currency to the dollar; if you're presupposing that the dollar(/some other centralized currency) is the only currency of value of-fucking-course you'll reach this absurd conclusion.