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The FBI now controls more thanbitcoins that reside at a bitcoin address dogecoin consolidates much of the seized Silk Road bitcoins. Tellybrown — Ori Sims ft. In September, the FBI sims down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread Pirate Roberts — the operator of the illicit online marketplace, who they version is address American man named Ross Ulbricht. It is an unregulated finite supply of nothing, artificially inflated to exploit unsuspecting persons. A bubble is when people buy an asset, address to use it, version to trade it for some other asset dogecoin a later date.
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You can never get a fair reading on any question, because non-members can vote more than once on any question, hundreds of times if they want. But I am having a lot more fun than gambling a couple hundred on a casino boat. Praiz — 69 Ft. If he is an inventor of a great innovation, why is he hiding with his over 1 million coins? S Itopa — Unrestrained ft. Bitcoin sets the bar very high as a currency and due to no middle men the transaction costs are very low.
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I haven't found anything malicious in that code or anything that would give somebody the upper hand. Now if you are thinking, "well somebody can edit the code to steal your coins or make fake coins" that is not how it works. Yes they can make a "fork" of Bitcoin but it will be on a separate blockchain. Meaning you cannot transfer those "forked" coins to the original Bitcoin. Well what is the blockchain? The blockchain stores all the wallet addresses, transactions, miner power and so on.
It cannot be edited but only added onto with new wallets, transactions, miners etc. It is not a website, but stored inside of the application itself on each and every computer or miner with the application. The websites you can find the blockchain on only show a graphical representation of what the blockchain has stored in it.
This means the more people who use Bitcoin, the more secure the protocol is. Which, at this time, it is very secure and Bitcoin itself has proved unbackable.
The only way people can "hack" Bitcoin is to hack the websites or wallets and use their data or stored coins for themselves. This happens in everyday life everywhere and should be null.
Now, onto the wallets. The wallets are NOT the Bitcoin protocol. They only use the Bitcoin protocol as a base of information. You could use command prompt for your wallet if you know how to code it.
This is why you can find multiple wallet providers with different features and security. They are not changing the protocol itself, but telling the protocol where to send the coins and storing that info in the blockchain. It is possible that a rogue wallet provider can program something malicious into the wallet itself to steal your wallet data to steal your coins but if you stick with well known wallets, you will not need to worry.
Online wallets can be dangerous so it is best to keep your wallet on a physical computer or USB. If someone makes a fake wallet that doesn't actually store real Bitcoin in it, you would be able to tell just by viewing the blockchain on a website. I have more to say, but not enough room on here. I will post about the human side of the ordeal I the comments. It isnt a scam, Its a very smart idea. No government back up, that means the government ends, youll still have your money.
Think of it this way, the confederate states created their very own currency in the little bit of time they were around, once the US won the civil war, that currency was worthless.
WWIII, youll still have your bitcoin acceptable in places. Sign In Sign Up. Add a New Topic. Is Bitcoin a scam? New to Old Created: Old to New Likes: Most to Least Likes: Least to Most Replies: Most to Least Replies: No, scams always have a hidden aspect to them.
Related Opinions Will the Mt. Gox disappearance be an isolated event yes or will it be the first of many Bitcoin collapses no? Are the effects of computer hacking on the American economy significant enough to warrant stronger legislation? Does the loss of anonymity make you less likely to adopt Bitcoin? Do you think that most media bias is unintentional? Should Customs policies be regulated by the UN?
Do all inventions come about due to necessity? Do you believe on day books could be a form of currency? Should maturity be based on a person's age? Does online dating lead to better relationships than offline dating? Should there be more regulations for Wall Street banks?
Bitcoin is a joke and not safe. Read the following articles. Authorities have seized two accounts linked to a major operator in the booming Bitcoin digital currency market, Tokyo-based exchange Mt. The move may prevent the firm from facilitating the purchase and sale of Bitcoins in U. Bitcoin, which unlike conventional money is bought and sold on a peer-to-peer network independent of any central authority, has grown popular among users who lack faith in the established banking system.
The price of the volatile currency ballooned in March as a result of the Cyprus bank crisis. Authorities worry that a lack of regulation has left the currency vulnerable to money launderers and other criminals. The US government or any government can take control over the high level Bitcoin internet domains and the domains of those who exchange bitcoin for dollars, e.
Once those domains are taken over, guess what? Once, the government takes over these domains in their countries, no one will be able to trade in or exchange bitcoins for dollars; so your bitcoins become worthless. The US government can do that to Bitcoin, and I am not talking about the small individual personal bitcoin accounts; I am talking about the large commercial bitcoin accounts, especially those sites that exchange bitcoin for currency.
By law, America banks were blocked from exchanging money with those internet poker sites. The FBI owns one of the biggest Bitcoin accounts. In September, the FBI shut down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread Pirate Roberts — the operator of the illicit online marketplace, who they say is an American man named Ross Ulbricht.
The FBI now controls more than , bitcoins that reside at a bitcoin address that consolidates much of the seized Silk Road bitcoins. His stash is spread across many wallets. What kills me is that this little punk - the inventor of Bitcoin - Satoshi Nakamoto is a millionaire and he has done nothing to earn it. Are all you people just to stupid to see what a scam Bitcoin is? Then there is the fact that most retail merchants are not buying off on this bitcoin bull.
It is hard to even find a handful of retail merchants that accept bitcoin. I think there are only 1, businesses in the world that will accept bitcoin, and most, if not all of these, are small merchants and none are large retail chains.
Amazon itself does not accept bitcoin; but, one or two of the independents that sell through Amazon do. Amazon will never accept Bitcoin instead of major credit and debit cards.
It will never be accepted by any airlines or hotels. You will never be able to buy gas at a gas station with bitcoin. No retail banks will accept bitcoin. It will not matter in the near future because Bitcoin will be shut down by the USA government or if will self-Implode soon because of the wild market speculation and lack of controls.
It is mostly repeat comments from non-members that is favoring the "No" answers, which is why non-members should not be allowed to post anything an DDO. These people used to show up with a name "Anonymous. DDO has no way of stopping these "Anonymous" or now "no name" non-members from posting one to hundreds of answers to the same question.
Do make these question fair, DDO should either stop non-members from posting anything at this site, or allow members to post as many "Yes" or "No" answers to all questions as they want.
You can never get a fair reading on any question, because non-members can vote more than once on any question, hundreds of times if they want. The other reason there are more "no" answers is because a bunch of teenagers who don't know anything about how governments work or anything about the monetary system and how regulations are needed to protect people. These teenagers have no clue as to why we have money laundering laws and a Federal Banking system.
They just think it is cool, like smoking pot, which is destroying today's youth. Yes their are a certain amount of coins or tokens to trade in this version virtual currency. I say this version because there is ltcoin and others that have other version created by private people who wish to start this trend. Check it out on bitcoin. Org However there are certain things you should consider first, what supercomputer needs over hundred thousand other computers to help solve algorithms to ease the workload on their systems?
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