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[Mr.OmegaMan]

Seems to be popping up on the news fairly often these days this digital cloud type currency.

http://www.bbc.co.uk/news/technology-24756030

http://www.bbc.co.uk/news/technology-25120731

http://m.bbc.co.uk/news/technology-25233224

http://www.bbc.co.uk/news/technology-25138627

http://www.bbc.co.uk/news/technology-24986264

The list goes on.. Are we missing out on something here I wonder

Apparently there will only be 21 million or billion available worldwide and 11 million or billion can't remember which, Has already been "mined" as they are calling it using some kind of software on computers or something, Even selling usb mining tools on eBay..

[Mr.OmegaMan]

There's even a forum with a similar layout to OOF.

https://bitcointalk.org/index.php

Think it's too complicated personally all this tech talk mining usbs etc.. Probably some kind of con. Still I'm intrigued when it comes new things....   

[Mr.OmegaMan]

Left my PC on tonight mining for god knows what 

My PCs so slow it gave an estimate that i'll make a bitcoin in roughly 800+ years 

[Sir Tigger KC]

Keep going, it'll be worth a squillion by then!!   

[Mr.OmegaMan]

Keep going, it'll be worth a squillion by then!!   

Haha aye 

There's all sorts of different types of bitcoin, litecoin etc., Also Found this earlier http://bit.ly/1cr2D4k

And look at some of the mining devices available..

http://bit.ly/1gdoIXH

http://bit.ly/1bKQbOt

People are going mad or what   

[05omegav6]

Hmmm... I'd be wary if your computer is mining tinterweb, then the chances are someone else is mining your computer, only one person will benefit from that exchange, and it won't be you...

[Sir Tigger KC]

There's a fella mining a landfill in South Wales somewhere for some Bitcoins....   

[05omegav6]

Unless I'm seriously mistaken, which is possible... mining, harvesting and phising are, like their real world namesakes, all about gathering. In this case data/information. Harmless enough until someone takes advantage of that which they have gathered

[Mr.OmegaMan]

This is what 24H got me.. Maybe a few pennies worth at most, Cost more in leccy 



Bit of fun and that's about it unless you have the equipment required to make a mint out of this...

[Sir Tigger KC]

From what I understand the authorities don't really understand it or know what to make of it all, so until recently has remained unregulated.  This has of course prompted concerns that it could be used for money laundering or other criminal purposes. 

The Chinese have now banned their financial institutions from dealing in Bitcoin and I reckon that once other jurisdictions start to regulate then the appeal will diminish along with its value.

Having said that, whatever you do don't throw out the computer that you have it stored on. That 0.00000373 BTC might be worth millions one day!!! 

[Mr.OmegaMan]

From what I understand the authorities don't really understand it or know what to make of it all, so until recently has remained unregulated.  This has of course prompted concerns that it could be used for money laundering or other criminal purposes. 

The Chinese have now banned their financial institutions from dealing in Bitcoin and I reckon that once other jurisdictions start to regulate then the appeal will diminish along with its value.

Aye i believe its a form of payment used on the internet's dark side the under belly tor or something. You can buy guns,  drugs, hitmen, assassins, hackers etc. Saw something in a newspaper awhile ago..  http://www.dailymail.co.uk/news/article-2512136/Its-just-child-porn-Fake-passports-guns-cocaine-hitmen-hire-clicks-away-internet.html "The hitman network offers to kill people in North America for £6,000 or Europe for £7,400."  "Most of these products and services are paid for in Bitcoins"

Having said that, whatever you do don't throw out the computer that you have it stored on. That 0.00000373 BTC might be worth millions one day!!! 

Well we can live in hope 

[Sir Tigger KC]

Sheeesh!! Everything's cheaper in The States! Even getting someone knocked off!! 

I expect that's down to EU taxes!! 

[Mr Skrunts]

Rather than start a new thread I though it might be better following an older one.

I could'nt get my head round any of this, but I believe it might have gone legal tender now.

Wish I had bought 100 £1 shares.

Price was something like $3859 last week.

https://www.plus500.co.uk/Instruments/BTCUSD

Still dont understand it wish I had jumped aboard at the time.

[Sir Tigger KC]

I wonder if Omegaman is still mining?      He hasn't changed his name to Rollerman yet....   

Mind you his little stash that he had mined 4 years ago must be worth a bit now! 

Unless he chucked his laptop away.....    

[BazaJT]

I believe the "ransom" demanded for the attack on the computer systems not long ago was to be paid in bitcoin.I don't understand[but then I'm not technology savvy]how at the end of it all you get your hands on the stuff.