A single victim claims that hackers absconded with some 25,000 of his bitcoins, worth, absurdly, approximately $375,000 at present dollar-to-bitcoin exchange rates. A few weeks ago the value of the bitcoin briefly plunged to negative eight cents to the dollar as hackers crashed exchanges and digitally ransacked electronic wallets to the tune of $9 million. You probably heard of the digital cash after it was rocked by sudden changes in value. It’s also a hint of the financial system to come and, ultimately, a scam. In other words, Bitcoin isn’t just a currency, it’s a massive experiment in group trust. Everyone who holds the currency agrees on who owns what, which ensures people can’t copy-and-paste their way to millions or defraud other users without the whole network agreeing that it happened. (The decoders earn a 50-bitcoin bounty for their work.) This happens about once every 10 minutes. When bitcoins are exchanged, a digest is broadcast to the network of users, a participant does the work of decoding the transaction history, and other users quickly confirm their history is accurate. This “hash value” or digest can be decoded by anyone with sufficient computer power and time to devote to the effort. Nakomoto’s innovation was using math-heavy cryptography techniques to create a medium of exchange that doesn’t require a central authority or physical tangibility (like gold) to deter counterfeiters and regulate the money supply.Įach time bitcoins change hands, so does a transaction history encoded in a string of characters. Linden Dollars, the unit of exchange in Second Life, are widely traded and regulated by game's maker, Linden Lab.
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Bitcoin, which works along the same lines as the Bittorrent network you might use to download movies and music, isn’t the first online currency. In 2009, Satoshi Nakomoto (possibly a real person, possibly a pseudonym for one or more hackers) invented Bitcoin, the first peer-to-peer currency. Imo BC's are a great chance to revitalise and raise the quality and widen up the offer of our trading section, maybe to revitalise the whole board.
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And we all know that you can sell or buy anything on the internet, let it be och-prem-accs, seedbox-shares, tracker accs and so on and use them for trading here. Of course you can trade BC agains real money on some sites, but mainly its used as reward for work or digital goods.
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There were some trades with rapidshares in the past time which went in this direction, but as rapidshare sucks now, theres no alternative until now.īC is an in the virtual society more and more accepted currency without any "real" good or organisation or authority behind them, making it perfect for purposes like this. Once you gathered enough BC, you can Trade all your BC you collected against a "rare" Tracker. With a currency it would be possible to collect a and trade lower level trackers, work a little bit (webdesign, seedbox support and so on), rent private seedbox-shares and trade them against BC with users having a "lower" trackerbase. No one is willing to give one of these for a bunch of trackers 2 or 3 levels below, as have nearly no need for them. I suggest to allow Bitcoins as currency for Trades.Īt the moment its quite hard to get higher/highes level tracker accs, for FTN or exigo you nett at least FTN or exigo.