Digital Currency

[Sri Lanky]

http://www.globeandmail.com/news/nation ... le4483054/

So the war on drugs is fostering an arms race (like any war) that now includes the digital world.
Digital currency? Anyone know more about this?

[coldharvest]

go for it

[Sri Lanky]

You mean like...go for the <gasp> drugs? C'mon,I don't do drugs....lol
This is serious!

[el3so]

Damn Sri, you know all that computer stuff? ;-)

[Sri Lanky]

I forgot about that thread....I must've been high.
I don't really buy drugs anymore. Special occasions maybe.
But if someone offers I usually just say yes.

...and I still abide by the "we are the only technology we need" motto.
If only because I'm technologically challenged.

[plaintext]

bitcoin/bummer

"Bitcoin, everyone’s new favorite online currency, has been on a wild ride of late, rising to a high of $260 per bitcoin Wednesday morning and falling to $63 per bitcoin on Thursday afternoon:"

http://www.washingtonpost.com/blogs/won ... defenders/

http://bitcoin.org/en/

https://en.bitcoin.it/wiki/Main_Page

[Kurt]

Ponzi scheme that is exacerbated by global central banking.

I did research on bitcoin and the main beneficiaries are a small group of Anglo / French people who are living in Tokyo. They control 80% of the transactions and they are the ones who halt trading when they worry about a big sell off. The decentralized nature of it means not that no one controls it but rather than no one can see who is controlling it so the myth of freedom and value is spread that way by believers. But the good, old fashioned follow the money leads to just a few people, and those few people are in control of about 3 billion USD worth of computer generated currency.

[OneLungMcClung]

What will terminate bitcoin's existence is the fact that it has a terminal supply and that there is nothing stopping copycats from offering a new and better digital money. Don't be the last one standing when the music stops. The term for that is being the "bag-holder" - and it sucks to have a large supply of worthless former assets.