11-27-2013, 01:48 PM
Litecoins
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11-28-2013, 09:57 AM
Governments like the USA have FIAT currency. It basically has value because the government says it does, not because it's backed by gold or any other precious material. They therefore can print lots of money and control it in a centralized location. Crypto currencies like bitcoin are decentralized, so no one has control over it or its price (theoretically at least. If a group has a controlling market share, they can set the price of the currency). Anyone can also "print" it by running a miner off of your video card. There's tutorials how to do it if you google.
Basically, nerd currency > wall street currency.
11-28-2013, 07:29 PM
plopt Wrote:I understand how our currency is backed by goldThe US currency is not backed by gold. We went off the gold standard in 1933.
11-28-2013, 10:18 PM
the idea isnt that it is backed by anything more so that there is "proof" of their existence and then their transportation between two points.
Id like to say thanks sanderz I had remembered seeing these before and their resemblance to silver compared to the bitcoins gold.
11-30-2013, 02:14 AM
lawlerbation the hardcore squatter Wrote:the idea isnt that it is backed by anything more so that there is "proof" of their existence and then their transportation between two points.What language is this?
11-30-2013, 05:07 AM
jackslammer Wrote:lawlerbation the hardcore squatter Wrote:the idea isnt that it is backed by anything more so that there is "proof" of their existence and then their transportation between two points.What language is this? GEDese
11-30-2013, 05:48 AM
I've made $700 so far this month and i have another $300 to cash out.
My GF pays $700 in rent, I have devices that pay more than she does MUAHAHAHA
11-30-2013, 05:53 AM
how about a wlph mining pool? seems like a better use for most of our computers at this point
11-30-2013, 08:46 PM
Unless Abe drops several thousand on multiple high end GPUs, the pool would be too small. I'm already on the Elitist Jerks pool and they only get blocks every 2-3 days on average.
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