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PostPosted: Sat Aug 04, 2012 9:44 am 
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What the hell is this?
Can you please explain to non-tech people like us.

Thanks.


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PostPosted: Sat Aug 04, 2012 10:13 am 
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kulukuy wrote:
CarneSeca wrote:
cutefix wrote:
Bitcoin is still rocket science to most of us , even the terminology as cryptocurrency, virtual currency, bitcoin mining still is pure gibberish.....although it gives me a faint idea but not much...
From the simplified definition of bit coin which is a sort of mathematical money system driven by a code still is pure jargon..

Kulukuy , would you mind if you explain this bitcoin in plain tagalog and english... :)


Based on kulukuys links, bitcoin mining works similarly as the seti project. Seti client software allows your computer to be used to look for alien signal when your computer is not being used. Similary, Bitcoin does a lot of hash calculation and needs help, so by installing the bitcoin mining program on your computer, you allow bitcoin to use your computer when you're not using it, and in return you acquire bitcoins. Virtual currency is the fact that it is a software. Hence, it's not tangible. Cryptocurrency because your bitcoin is encrypted with a key. If you forget your key, you lose your bitcoins forever. I don't claim to know a lot about bitcoins. What I posted is what I picked up from the links kulukuy posted.


Installing the original Bitcoin or other clients and opening it does not mine by itself. It only allows one to have a wallet or wallets so he/she may be able to send or receive Bitcoins (an account of sorts). However, one must first let it download the entire blockchain (history of transactions) which takes hours. It will automatically proceed to do just that upon opening the client for the first time; assuming the computer is online (it's P2P). After that, it will only add the transactions that were missed since the last time it was opened.


So installing the bitcoin mining program will not mine by itself?

When you say a bitcoin cost $5 and then $9 and then $11 and saying you guess it's "you snoose, you lose", that's implicitly encouraging people to buy bitcoin.

Balibaligtarin mo man ang mundo, software will never be tangible. Just admit it, it was a poor choice of word.

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PostPosted: Sat Aug 04, 2012 10:21 am 
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kulukuy wrote:
Well, health and well-being is intangible also but we surely have been investing in it and trading it for money.


Yes, and bitcoin is also INTANGIBLE, and I never said you can't invest in it. I was saying it's not tangible. You have problem admitting to a fault?

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PostPosted: Sat Aug 04, 2012 10:40 am 
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mysql wrote:
What the hell is this?
Can you please explain to non-tech people like us.

Thanks.


Just another form of currency.

According to the bitcoin website, there will only be 21,000,000 bitcoins created to avoid inflation. So, I don't know how many have been mined to date, but it's been around for quite some time. Mining, acquiring bitcoins by running the bitcoin mining program is a competition. How much you get will depend on how fast you system is. Personally, I don't think it's going anywhere. The only people who are going to get richer are the people who are already rich to begin. Nothing is better than anything tangible like gold; not even money.

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PostPosted: Sat Aug 04, 2012 6:39 pm 
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CarneSeca wrote:
kulukuy wrote:
CarneSeca wrote:

Based on kulukuys links, bitcoin mining works similarly as the seti project. Seti client software allows your computer to be used to look for alien signal when your computer is not being used. Similary, Bitcoin does a lot of hash calculation and needs help, so by installing the bitcoin mining program on your computer, you allow bitcoin to use your computer when you're not using it, and in return you acquire bitcoins. Virtual currency is the fact that it is a software. Hence, it's not tangible. Cryptocurrency because your bitcoin is encrypted with a key. If you forget your key, you lose your bitcoins forever. I don't claim to know a lot about bitcoins. What I posted is what I picked up from the links kulukuy posted.


Installing the original Bitcoin or other clients and opening it does not mine by itself. It only allows one to have a wallet or wallets so he/she may be able to send or receive Bitcoins (an account of sorts). However, one must first let it download the entire blockchain (history of transactions) which takes hours. It will automatically proceed to do just that upon opening the client for the first time; assuming the computer is online (it's P2P). After that, it will only add the transactions that were missed since the last time it was opened.


So installing the bitcoin mining program will not mine by itself?

When you say a bitcoin cost $5 and then $9 and then $11 and saying you guess it's "you snoose, you lose", that's implicitly encouraging people to buy bitcoin.

Balibaligtarin mo man ang mundo, software will never be tangible. Just admit it, it was a poor choice of word.


Just what the heck are you blabbing about? You obviously don't know that "you snooze, you lose" is a common expression which basically means an act of procrastination and I was referring to myself for not taking action before it was to late. You do have a propensity to nitpick on semantics. OK man. You win. I admit that I "implicitly encouraging people to buy bitcoin". So, sue me. There...you happy now? Let's just stick to the topic at hand and do away with the trivial stuff. Get over it.


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PostPosted: Sun Aug 05, 2012 10:18 pm 
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kulukuy wrote:
Just what the heck are you blabbing about? You obviously don't know that "you snooze, you lose" is a common expression which basically means an act of procrastination and I was referring to myself for not taking action before it was to late. You do have a propensity to nitpick on semantics. OK man. You win. I admit that I "implicitly encouraging people to buy bitcoin". So, sue me. There...you happy now? Let's just stick to the topic at hand and do away with the trivial stuff. Get over it.

You're referring to yourself, but you've posted on a public blog (not your personal blog). Just what the hell do you think you're doing if not "encouraging"? But then again, I'm talking to a kulukuy, so maybe I shouldn't take you seriously.
:lol:
What the hell is wrong with you? I wasn't even trying to give you a hard time. I simply said you shouldn't encourage people to buy things that could potentially turn to NOTHING, and that a software is not TANGIBLE.

Fine, stick to the topic, and start answering when people ask what the hell you're posting about. Unless this was meant to be yours only personal blog. A couple of people had already asked if you explain it in layman's, but all you could do is direct them to a link.

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PostPosted: Sun Aug 05, 2012 11:27 pm 
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Carneseca happened to be more informative here than the ts. :D

No offense bro ts but without carneseca in here, this thread could have been long dead. All questions about this bitcoin thing deserves some answers on your point of view, not bringin on some links that half of us don't know. I even thought this forum was for mining engineers paclanders.
:D :peace: :peace:

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PostPosted: Mon Aug 06, 2012 3:10 pm 
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CarneSeca wrote:
kulukuy wrote:
Just what the heck are you blabbing about? You obviously don't know that "you snooze, you lose" is a common expression which basically means an act of procrastination and I was referring to myself for not taking action before it was to late. You do have a propensity to nitpick on semantics. OK man. You win. I admit that I "implicitly encouraging people to buy bitcoin". So, sue me. There...you happy now? Let's just stick to the topic at hand and do away with the trivial stuff. Get over it.

You're referring to yourself, but you've posted on a public blog (not your personal blog). Just what the hell do you think you're doing if not "encouraging"? But then again, I'm talking to a kulukuy, so maybe I shouldn't take you seriously.
:lol:
What the hell is wrong with you? I wasn't even trying to give you a hard time. I simply said you shouldn't encourage people to buy things that could potentially turn to NOTHING, and that a software is not TANGIBLE.

Fine, stick to the topic, and start answering when people ask what the hell you're posting about. Unless this was meant to be yours only personal blog. A couple of people had already asked if you explain it in layman's, but all you could do is direct them to a link.


OK. So who appointed you as the financial adviser of everybody on here? Again, you're obsessed with this "encouraging" thing. You have a very over-active imagination bordering on paranoia. What's wrong with you? It seems you can't let go of it. I see that so far you've made 1919 posts. How much of that are dedicated to trolling just so you could get a hard-on?


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PostPosted: Mon Aug 06, 2012 3:27 pm 
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redhorse wrote:
Carneseca happened to be more informative here than the ts. :D

No offense bro ts but without carneseca in here, this thread could have been long dead. All questions about this bitcoin thing deserves some answers on your point of view, not bringin on some links that half of us don't know. I even thought this forum was for mining engineers paclanders.
:D :peace: :peace:


I couldn't care less if the thread dies, gets a funeral service and gets buried. It doesn't affect my life. Believe me, I got a lot of other stuff to put my on than to be preoccupied with a forum thread. I was putting out information and see if there are others here who are into Bitcoins and hopefully engage in a discussion. Obviously, nada! That's what forums are for; to discuss. But, there are always gonna be keyboard warriors and trolls to spoil it.


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PostPosted: Mon Aug 06, 2012 3:36 pm 
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Buy! Buy! Buy!

Buy Bitcoins now before it's too late. You snooze, you lose! In fact, buy it from me so I can make a killing. ;-)

https://mtgox.com/


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PostPosted: Mon Aug 06, 2012 4:36 pm 
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kulukuy wrote:
redhorse wrote:
Carneseca happened to be more informative here than the ts. :D

No offense bro ts but without carneseca in here, this thread could have been long dead. All questions about this bitcoin thing deserves some answers on your point of view, not bringin on some links that half of us don't know. I even thought this forum was for mining engineers paclanders.
:D :peace: :peace:


I couldn't care less if the thread dies, gets a funeral service and gets buried. It doesn't affect my life. Believe me, I got a lot of other stuff to put my on than to be preoccupied with a forum thread. I was putting out information and see if there are others here who are into Bitcoins and hopefully engage in a discussion. Obviously, nada! That's what forums are for; to discuss. But, there are always gonna be keyboard warriors and trolls to spoil it.


I agree with you on this TS.


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PostPosted: Mon Aug 06, 2012 4:37 pm 
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kulukuy wrote:
Buy! Buy! Buy!

Buy Bitcoins now before it's too late. You snooze, you lose! In fact, buy it from me so I can make a killing. ;-)

https://mtgox.com/


Ngek.


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PostPosted: Mon Aug 06, 2012 5:14 pm 
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kulukuy wrote:
redhorse wrote:
Carneseca happened to be more informative here than the ts. :D

No offense bro ts but without carneseca in here, this thread could have been long dead. All questions about this bitcoin thing deserves some answers on your point of view, not bringin on some links that half of us don't know. I even thought this forum was for mining engineers paclanders.
:D :peace: :peace:


I couldn't care less if the thread dies, gets a funeral service and gets buried. It doesn't affect my life. Believe me, I got a lot of other stuff to put my on than to be preoccupied with a forum thread. I was putting out information and see if there are others here who are into Bitcoins and hopefully engage in a discussion. Obviously, nada! That's what forums are for; to discuss. But, there are always gonna be keyboard warriors and trolls to spoil it.


Yea that's what forums are for, to discuss. Then why didn't you reply to two people asking what the topic is about in the language they understand?

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PostPosted: Mon Aug 06, 2012 5:26 pm 
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kulukuy wrote:
OK. So who appointed you as the financial adviser of everybody on here? Again, you're obsessed with this "encouraging" thing. You have a very over-active imagination bordering on paranoia. What's wrong with you? It seems you can't let go of it. I see that so far you've made 1919 posts. How much of that are dedicated to trolling just so you could get a hard-on?


:lol: :lol: :lol:

Why complicate the matter?

Seriously, what is wrong with you? All I've said is that you shouldn't be encouraging people to buy things that could potentially turn to nothing, and that software is not tangible. :lol:

I'm not trying to say that I'm everyone's financial adviser or that I know more about bitcoins than you do because I don't. What I said are what I said. They don't mean nothing else, but what they literally mean.

Seriously, tell me how my statements offended you because you seem offended. Offending you was not my intention. Seriously, I don't see how those statements could have offended you unless you were really trying to encourage paclanders to buy bitcoins, and unless you have a hard time admitting a mistake when I pointed out that a software can never be tangible. :lol:

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PostPosted: Mon Aug 06, 2012 5:31 pm 
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zabro_e wrote:
kulukuy wrote:
Buy! Buy! Buy!

Buy Bitcoins now before it's too late. You snooze, you lose! In fact, buy it from me so I can make a killing. ;-)

https://mtgox.com/


Ngek.


Itinago pa ng halata. :lol:

trans:
I get it now. You didn't reply to people's questions because you really didn't want them to know how to generate their own bitcoins, but at the same time hint them that bitcoins exist and that they could purchase them. :lol:

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