I hate base 10

"Money is only worth anything if you believe it is worth anything"


I recently discovered this "new" thing called BitCoins. it is a virtual currency that is based on p2p networking and cryptography trickery.

The idea behind Bit coin is that there is a finite number of coins that can ever exist, this is hard coded in to the system. the second is that new money is made by solving complicated sah256 cryptography calculations: you will receive 50 BTC (Bitcoins) if some conditions are met.

are they worth any thing?

why yes as of this moment the current trading rate for BTC is 0.8 EUR/BTC or 1.5 USD/BTC

The good


It is anonymous.

It solves some Cryptography calculations.

There is no central "bank" to speak of.

You can use it to day.

The bad

There is no central bank.... bubbles can burst an no one can stop it. Eco crime will become impossible to track.

Deflation problem. Due to the fact that there only ever can be a finite number of coins the "Deflation Spiral Effect" can start to make the markets unstable and collapse. (That is why on one use gold-, silver-, or copper standard any more.)

The not so good and not so bad

The rate of the coins exchange is a market, you can sell and by it like if it was stock, and play the market. This makes it a good currency, but it also creates a uncertainty among the dealers.

Send me your coins!

Send em here:

rurrent rates and xechanges

Full list:
exchange rate:
get 0.05 BTC:

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