101–110 of 129 posts
What will WordPress do with the Bitcoins they receive? Do they have business costs that can be paid with Bitcoins, or will they simply trade them for a "real" currency like USD?
They use BitPay, which automatically converts them to USD.
Another recent news is stunning for Bitcoin, but somehow got unnoticed: A company pouring $1M+ to develop a 65nm Bitcoin mining chip: http://blog.zorinaq.com/?e=69
Personally, I like the idea of digital currency, but the knowledge that it is based on completely useless computations (gold at least has many practical applications and looks nice) annoys my programmer side. I know money do not have to be otherwise useful, but still the feeling is there.
In that sense the computation no less useless than any other cryptographic technique that has complexity to thwart brute force attacks.
[I may be completely off base here, I wouldn't call myself a bitcoin expert, but this is how I perceived it]
Very interesting to see a major brand starting to accept Bitcoin. I guess that's a huge next step. So where are the reliable exchanges right now? Haven't really looked into BTC since the Mt Gox incident. Also http://bitcoin.com/ looks way more accessible and polished compared to last year. What are the major obstacles for mainstream adoption?
Wow, that's big news. Now they just need a client that doesn't take days to download the block chain :| Seriously, I wonder if one of the bigger barriers to bitcoin adoption is the lame official application.
Earlier quoted context omitted.
I'd like to know as well. And for that matter, is there any interesting material out there that talks about Bitcoin?
Yes. For example, both the FBI and the ECB have written on bitcoin in a way that acknowledges it as a useful medium of exchange. What are you looking for? https://en.bitcoin.it/wiki/Main_Page has a lot of good info on a lot of stuff. reddit.com/r/bitcoin is a pretty helpful place to ask casual questions.
Would Bitcoin be considered another currency to stand alongside the USD and the CAD?
And the Euro. But yes, I think so. My only concern is that if it becomes a 1 trillion $ worth of economy, you'll be talking in very small decimals of Bitcoin. Everything will cost like 0.000000x Bitcoins. I think this will be a very poor UX for most people. Unless they give the smallest decimal another name (Bits, coins, nanocoins, whatever), and then everyone deals in nanocoins, rather than Bitcoins. I wish the desi…
quick question, regarding the people that can't buy Wordpress services with Paypal or credit card, how do they buy bitcoins?
Earlier quoted context omitted.
As far as I'm aware, Mt. Gox is the most secure exchange around right now and hasn't had an incident since its big one last year. Even so, you only have three fears: 0) You poorly secure your account and someone logs in as you and takes your coins 1) Bitcoin's value plummets and you lose all your invested money. 2) Mt. Gox loses some of their actual coins, and refuses to let you withdraw from your balance with them.…
I have a fourth fear with Mt. Gox. For a European the only way to directly buy Bitcoins there is a SEPA transfer. Mt. Gox will only accepts this after I send a scanned identification document and a proof of residency without ANY alterations. I understand why they need this and I appreciate that they are thorough in their measures to prevent fraud and money laundering. I even sent my passport to other companies, but o…
For anyone browsing the thread, this is part of an email their support desk sent me for accepted documents, which is significantly more permissive than the upload page for verification suggests:
1 A copy of your government issued photo ID such as:
- Passport
- Permanent residence card
- Driver’s license
2. Proof of Residence that is not older than 3 months such as:
- Monthly utility bill
- Internet Bill
- Cellphone Bill
- Tax Return document
- Residency Certificate
- Voting registration form
- Medical insurance
- Pay Slip
- Car Insurance Policy
- Medical BillAnother recent news is stunning for Bitcoin, but somehow got unnoticed: A company pouring $1M+ to develop a 65nm Bitcoin mining chip: http://blog.zorinaq.com/?e=69
Personally, I like the idea of digital currency, but the knowledge that it is based on completely useless computations (gold at least has many practical applications and looks nice) annoys my programmer side. I know money do not have to be otherwise useful, but still the feeling is there.
There is another mechanism that could reduce the need for proof-of-work though: the participants could instead show proof-of-stake[1], i.e. prove that they control a certain amount of currency. Somebody has created ppcoin[2] (a bitcoin fork) to experiment with this.
Another recent news is stunning for Bitcoin, but somehow got unnoticed: A company pouring $1M+ to develop a 65nm Bitcoin mining chip: http://blog.zorinaq.com/?e=69
Personally, I like the idea of digital currency, but the knowledge that it is based on completely useless computations (gold at least has many practical applications and looks nice) annoys my programmer side. I know money do not have to be otherwise useful, but still the feeling is there.