As fiat money devalues bitcoin becomes more valuable; but it might be doomed because the central banks could easily bubble it to oblivion.
Listen to Bitcoin
61–70 of 80 posts
Re: Listen to Bitcoin
#62Beautiful :) I didn't know people were moving around such large sums. I saw a 3400 bc bubble, and a 2000+ bc bubble floating out there. I wish I was able to distinguish what was going on directly from the sounds. Those huge bubbles sounded exactly like the small ones, and when I saw 50 bubbles appear at once, that also did not sound any different than a single bubble. The amount of simultaneous sounds seems to be lim…
Bitcoin clients usually try to diffuse coin ownership by always sending two amounts with one transaction, one (normally smaller) amount is to the receiver, the second amount is to a new address of the sender. So your coins diffuse out over tons of addresses this way, and the true number of coins transferred between individuals is much less than it appears. It can also be extremely unhelpful, for example to this chap…
And this mistake of trying to be ultra-secure, without understanding change addresses, is a classic way to destroy BTC. It also bit someone for 7208 BTC way back in June 2011:
https://bitcointalk.org/index.php?topic=11104.0;all
That 7208 BTC would be worth about $680,000 today.
There will be a lot fewer than 21 million BTC in actual usable existence after all these errors are tallied!
Re: Listen to Bitcoin
#63It says no sound in Safari, but the sound works just fine in Safari 6.0.3. No sound in Mobile Safari on iOS 6.1.3, however.
Just to note: it did say there was no sound in Safari, but it was silently edited after the comment edit/delete window on parent ended. Odd you can't even delete comments that no longer apply after the edit window.
Re: Listen to Bitcoin
#64Re: Listen to Bitcoin
#65Earlier quoted context omitted.
Reaping mining rewards? Cashing out on Bitcoin which they bought when it was cheap?
not possible
Care to explain why not? What stops someone who mined 10k bitcoins in 2007/8 from cashing out. If I remember correctly, there was a guy recently on #startups freenode who showed everyone a screenshot of his wallet at $800k[1] (one sec let me find it in my history) and claimed he mined them all really early.
Re: Listen to Bitcoin
#66Earlier quoted context omitted.
Most of it seems to be just trade volume on MtGox, not actual transactions recorded in the blockchain.
Deposits and withdraws of Bitcoin will show, but all trades within MtGox are not recorded in the blockchain. It's just Gox moving balances between accounts.
Change from outgoing MtGox payments does show up in the blockchain, though, and it tends to be relatively large compared to the actual size of the payments. By design there's no reliable way to tell the difference between change and the actual payment either.
Re: Listen to Bitcoin
#67Oh boy.. I was going to buy some bitcoins, but the price is creeping towards 100 USD/1 btc. That's just ridiculous.
A few weeks ago, prices were around 26 USD/1 btc... So are we going to see a swing down that low again? Or is this SilkRoad talking?
Re: Listen to Bitcoin
#68Oh boy.. I was going to buy some bitcoins, but the price is creeping towards 100 USD/1 btc. That's just ridiculous. A few weeks ago, prices were around 26 USD/1 btc... So are we going to see a swing down that low again? Or is this SilkRoad talking?
this is the effect of the scarcity of bitcoin.
there's a tremendous network effect, more and more online shops accepting them as well as AFK.
it allows much lower fees and risk than credit cards with their 3% plus chargebacks, up to 5-10% better margins for sellers.
You can now use bitcoin to pay for services and even fines at some municipalities, cities and what not http://www2.egovlink.com/press-release-bitcoin.cfm
You can buy things on amazon via bitspend as well as other services.
And if you still don't trust bitcoin value to not go down, you can use services like bitpay that will convert for you instantly in whichever currency you want.
There's even some VISA prepaid you can top up with bitcoin for the places that don't accept them.
And you can now use bitcoin to pay for expenses and contractors http://techcrunch.com/2013/03/27/expensify-now-offers-suppor...
And while all this happens, the USD keeps getting printed at a far superior rate.
Re: Listen to Bitcoin
#69Earlier quoted context omitted.
Bitcoin clients usually try to diffuse coin ownership by always sending two amounts with one transaction, one (normally smaller) amount is to the receiver, the second amount is to a new address of the sender. So your coins diffuse out over tons of addresses this way, and the true number of coins transferred between individuals is much less than it appears. It can also be extremely unhelpful, for example to this chap…
And this mistake of trying to be ultra-secure, without understanding change addresses, is a classic way to destroy BTC. It also bit someone for 7208 BTC way back in June 2011: https://bitcointalk.org/index.php?topic=11104.0;all That 7208 BTC would be worth about $680,000 today. There will be a lot fewer than 21 million BTC in actual usable existence after all these errors are tallied!
Sure, but it doesn't make it any less usable for the others, it fact it increases everyone else's purchasing power
Re: Listen to Bitcoin
#70How do the sounds correspond to activity?
Deeper noise = larger amount, roughly. Larger bubble has some sort (logarithmic?) correlation to size. It's necessarily rough though.
Oh, interesting. Somewhere higher in the comments, people think the pitch is chosen at random and only the volume is controlled by the data.