• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Visualizing Bitcoin - The 'Encryption' Standard

Tyler Durden's picture




 

What currency is feared by the European Central Bank as a threat to fiat monetary institutions?  What currency is cash like but digitally transmittable allowing for ultimate anonymity and global mobility? What digital currency is up over 2,200% over the last year? The answer?  Bitcoin. From mining, supply, demand, and security, Visual Capitalist's infographic covers it all.

 

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Thu, 04/04/2013 - 12:24 | 3408418 jcaz
jcaz's picture

What currency just got hacked by a bunch of 9th graders?

Thu, 04/04/2013 - 12:26 | 3408421 CH1
CH1's picture

Damn, You beat me.

Was just about to write: Cue the Haters.

Thu, 04/04/2013 - 12:30 | 3408449 Dr Paul Krugman
Dr Paul Krugman's picture

Bitcoin is a trade like buying tulips - it is not a currency.

Thu, 04/04/2013 - 12:40 | 3408454 Ag Tex
Ag Tex's picture

You beat me to that one!  By the way, you need to kiss and make up with silver.  Time for you to get on silver's good side - like it or not.  The physical is about to snap the money changers over its knees.

 

Visualizing Bitcoin?  Picture tulips.
Thu, 04/04/2013 - 12:38 | 3408505 GetZeeGold
GetZeeGold's picture

 

 

.....and it's gone.

Thu, 04/04/2013 - 12:46 | 3408540 BaBaBouy
BaBaBouy's picture

It's ANOTHER Fiat !!!

I'll Take GOLD, Thanks ...

Thu, 04/04/2013 - 12:53 | 3408582 redpill
Thu, 04/04/2013 - 13:06 | 3408673 fonestar
fonestar's picture

There is no reason to use an online wallet (for people who actually know what they're doing).

What is so hard about this to understand for some PM stackers?  Bitcoin does not fulfil the same requirements of gold and silver as a store of value.  Nobody is saying it does.  Likewise, gold and silver cannot match Bitcoin's ability to tunnel, transfer and superior fungibility.  You are comparing apple money and orange currency!

Thu, 04/04/2013 - 13:13 | 3408699 dark pools of soros
dark pools of soros's picture

they'll never 'get it'

 

using an online wallet is like letting a bank hold your gold..  people here would agree if JPM stole your gold, then it is your fault, but not in this case since they don't know jack shit about bitcoins and it shows... loudly shows

 

note: bitcoin wallet by blockchain is a lot better if you want the ease of using an online one... but keep your large pile offline

 

Thu, 04/04/2013 - 13:23 | 3408755 Diet Coke and F...
Diet Coke and Floozies's picture

What metals allow the creation of computer hardware to create and power bitcoins again? Are Bitcoins not a derivative of Gold and Silver?

Thu, 04/04/2013 - 13:30 | 3408792 dark pools of soros
dark pools of soros's picture

what metals have had their true value suppressed by central banks while sheep mock something that is showing the world the economic tyranny it is in?

 

Thu, 04/04/2013 - 14:33 | 3409146 francis_sawyer
francis_sawyer's picture

Bitcoins

~~~

- Decentralized

- Secure

- Public

- Anonymous [great for kiddie porn]

- Digital

- Stable [as in 2,200 & over a year 'stable']

~~~

- HACKED

- BUBBLE

- RETARDED

Thu, 04/04/2013 - 14:57 | 3409275 fonestar
fonestar's picture

Pretty clear that some people have this idea of the G-Man from their Dick Tracey comics that has all these cool gadgets, can crack any code and always wins against the evil genius.

In reality he's a fat, balding DHS guy who spends his time at work surfing pr0n sites and took a day-long course once on cyber crime.

Thu, 04/04/2013 - 15:11 | 3409349 Badabing
Badabing's picture

Bitcoin

 

if the FED hates it it's OK with me

Thu, 04/04/2013 - 15:33 | 3409437 fonestar
fonestar's picture

Bitcoin:

"Destroying the delusions of sentimental luddites since 2009"

Thu, 04/04/2013 - 15:44 | 3409487 Fleecer
Fleecer's picture

So... the supply of bitcoins is finite... because of the "rules" established by the bitcoin inventor "says so"?? 

Good thing there's no way to change a "rule" in a computer.

Thu, 04/04/2013 - 15:49 | 3409502 fonestar
fonestar's picture

The rule would need to be agreed upon by the majority of nodes on the network.

Thu, 04/04/2013 - 16:01 | 3409541 francis_sawyer
francis_sawyer's picture

'Inventor' of BITCOIN

~~~ <jews & bitcoin GEEKS junk HERE>

LOLOLOLOLOLOLOL

Guaran-FUCKING-teed 'Satoshi Nakamoto' is a goddamned jew hoarding a fucking stash for himself & a few cronies while idiots pile on to the scam...

Proceed [or PROVE me otherwise you fucking dipshits]...

NO WAIT... Click on the above indicated JUNK button... You know ~ to prove all you numbwits MEAN BUSINESS...

Thu, 04/04/2013 - 16:07 | 3409567 fonestar
fonestar's picture

Well the Jewish people do rank highly on their mathematical comprehension so it's possible.  But Satoshi did not "invent" the bitcoin as much as it was a logical progression of the earlier works of Rivest, Shamir & Adleman and more.

Not that someone who is only here looking to get shock value from anti-semitic remarks would be bothered by facts though.

Thu, 04/04/2013 - 16:25 | 3409634 Jack Napier
Jack Napier's picture

The beast system is very happy with the evolution of BitCoin. Talking heads from Paul Krugman and Al Gore to Max Keiser endorse it. A global digital currency is exactly what the New World Ordered. It can make you rich, and it will also be incorporated with the Mark. What's more valuable, a fat wallet or a soul? Precious metals are the only escape unless you plan on being a vagrant.

Thu, 04/04/2013 - 16:38 | 3409684 fonestar
fonestar's picture

Ah yes, "the mark of the beast" cop-out for the technophobe who cannot debate technical subjects objectively based on technical merits (I wonder why?).  Krugman did not endorse Bitcoin he said it would die a deflationary death, you can't even get that much right.  Al Gore said it was a "cool" idea and it's quite possible the power elite would love his endorsement of Bitcoin since he has been outted as a fraud in climate-gate.

 

Thu, 04/04/2013 - 18:17 | 3410076 Bendromeda Strain
Bendromeda Strain's picture

Oh I don't know - it was hearing about Stefan Thomas' loss of $140k wallet password that caused the NatGeo host to swear on a program, the first time I am aware of such an outburst not removed in edit.

http://www.youtube.com/watch?v=asYb8a0ckhQ  (~14:00 mark)

Hmm - how could accessing the system be made more robust to prevent the bad PR of "losing" your wallet password? A digital solution for a digital problem. Hmm.

Sorry fanboy, it is you who cannot argue the subject honestly... embedded "Bitcoin passwords" would be a perfect prototype, no doubt about it.

 

Thu, 04/04/2013 - 19:29 | 3410303 fonestar
fonestar's picture

There are plenty of ways to store good passwords in your mind, or securely on your computer.  You are going to try and junk an ingenious technology because some people can forget their encrypted passwords?  If I forget where I left my credit card or wallet in a large store it will possibly be stolen.  Is that the fault of the Fed, Visa or Mastercard?

Thu, 04/04/2013 - 21:15 | 3410602 RideTheWalrus
RideTheWalrus's picture

"If I forget where I left my credit card or wallet in a large store it will possibly be stolen.  Is that the fault of the Fed, Visa or Mastercard?"

But then you just call VISA or MC and tell them, they cancel the card and express post a new one to you.

BitCoins just vanish into the ether from whence they came so they need to address lost coins or it'll end up with more floating around in space than actually being traded as people inevitably loose them by forgetting passwords or formatting without backups, house burns down destroying backups as well as originals etc. 

There's only ever be 21 million bitcoins - but 10 million have been lost. Does that make them worth more or less?


Fri, 04/05/2013 - 01:28 | 3411243 Number 156
Number 156's picture

What is it with you guys and your damn COMMENT STUFFING???!!!!??

Fri, 04/05/2013 - 01:56 | 3411276 Lore
Lore's picture

Amazing that more readers don't stop to question the REAL ORIGIN of this thing, the TIMING of its marketing, and especially its EFFECTS. 

COME ON!  QUI BONO?!

Thu, 04/04/2013 - 16:11 | 3409572 ILoveDebt
ILoveDebt's picture

You might be right about the guy holding a huge stash.  Nobody knows.  As far as the rest, you want us to disprove a lie? 

That's like asking you to prove you didn't rape my mother. 

Thu, 04/04/2013 - 16:27 | 3409643 francis_sawyer
francis_sawyer's picture

I use 'shock value' to comments becuz people are 2 dumbed down to think or react otherwise...

~~~ < [joo & bitcoin junkers, have a field day here]

The fact is...

BITCOIN... at the moment... is a huge vacuum cleaner of currency at the present moment... Where does 'paper wealth' go to die?... In the past:

- TULIPS

- DOT.COMS

- UNFLIPPED HOUSES

have played the role...

There's a sucker born every minute... [& often enough ~ a jew is on the other side of the transaction that separates a fool from his money]... AGAIN ['junk away', the button is brightly lit above]... Hate all you want on francis_sawyer... Pretend IT'S ALL MY FAULT... I'm sure that'll make you feel better about yourselves...

 

Thu, 04/04/2013 - 16:52 | 3409724 fuu
fuu's picture

"[& often enough ~ a jew is on the other side of the transaction that separates a fool from his money]"

I would bet you 1 oz of silver there are more non-jewish con artists in this world than jewish ones.

Thu, 04/04/2013 - 17:31 | 3409926 francis_sawyer
francis_sawyer's picture

Jews are only 1% of the world's population...

~~~

How fucking hard is it 4 you to be correct?... If it is only a [+1] aggregate differential, person for person... Than that still makes them the most corrupt MF'ers in existence...

Not to mention the fact that despite this casual detour ~ NOBODY is bothering to identify WHO 'Satoshi Nakamoto' is...

Thu, 04/04/2013 - 17:46 | 3409982 fuu
fuu's picture

So more often than not the fleecer is actually not jewish did I hear that right?

I don't know who the person is. I also don't own any bitcoins. Then again I don't know who invented gold and silver money either but I own those.

I went ahead and junked myself.

Thu, 04/04/2013 - 18:06 | 3410052 Scarlett
Scarlett's picture

Francis Sawyer is a paid shill used to discredit Zerohedge; that's all.

Thu, 04/04/2013 - 18:27 | 3410117 fuu
fuu's picture

I seriously doubt that, but even if he is so the fuck what? Paid shills can't have or share opinions? Francis doesn't have the power to discredit this site. Take the concern troll somewhere else.

Thu, 04/04/2013 - 18:26 | 3410122 francis_sawyer
francis_sawyer's picture

@fuu ~ You 'heard' what you want to hear [as everyone always does]

~~~

@Scarlett ~ You're a jew babycakes [preselected ~ as the case may be]... So basically, bask in your glory... You don't need to be fighting it out in the trenches...

~~~

As for the 'CRYPTIC JAP' [who supposedly 'INVENTED' bitcoin & stashed a bunch for himself]... Well ~ That's all for YOU GENIUSES to decide...

Shalom!

Thu, 04/04/2013 - 21:28 | 3410642 CH1
CH1's picture

Sawyer cares more about Jews thn Jews do. The poor deear is utterly obsessed.

Is there some kind of medicine for Compulsive Nazism?

Thu, 04/04/2013 - 19:24 | 3410286 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

No it is finite because coin generation is determined by a mathematical equation that has a finite x amount solutions. Once all the solutions are found that is it. It really is that simple.

Thu, 04/04/2013 - 20:02 | 3410386 Cap Matifou
Cap Matifou's picture

After the Aldrich Plan failed to pass 100 years ago, the money changers mock hated the federal reserve act, pushing the same shit into blossom at last.

Thu, 04/04/2013 - 18:14 | 3410075 A Nanny Moose
A Nanny Moose's picture

Dude that's the SEC. C'mon...get your alphabet soup of acronyms straight.

Fri, 04/05/2013 - 00:28 | 3411110 TraderTimm
TraderTimm's picture

I see francis "off the rails" sawyer was allowed near a computer again. Someone should speak to the head nurse at the insane asylum about that.

Thu, 04/04/2013 - 18:28 | 3410130 crowd
crowd's picture

Bitcoins are made from electricty. The value of electricity spent mining matches the value of the new coins.

Thu, 04/04/2013 - 21:18 | 3410609 RideTheWalrus
RideTheWalrus's picture

So where do i cash all my gold Sonic the Hedgehog rings and Mario Bro's coins - i spent heaps of electricty mining them in the 90's - they must be worth a fortune now!

 

Fri, 04/05/2013 - 13:03 | 3413353 crowd
crowd's picture

Do you have proof?

Thu, 04/04/2013 - 13:49 | 3408880 redpill
redpill's picture

Let's just say I'm not too worried about the Perth Mint being "hacked."

Thu, 04/04/2013 - 13:55 | 3408912 fonestar
fonestar's picture

Well perhaps you should be.  In a major currency meltdown (like the one we are heading into on a global scale) it is very likely mines will be nationalized and bullion coin production halted at least for a time.

Something like that is actually easy for governments to do compared to forcing millions of people to give up their encrypted wallets.

Thu, 04/04/2013 - 14:45 | 3409207 redpill
redpill's picture

It's ok if they halt bullion coin production, Perth Mint maintains 100% reserves at all times.

Forcing people to give up their encrypted wallets isn't that difficult for a Justice Department that has absolutely no regard for your civil rights.

Thu, 04/04/2013 - 14:49 | 3409224 fonestar
fonestar's picture

Assuming the person is somewhat technically literate how would said government even know I have Bitcoin?

Thu, 04/04/2013 - 15:38 | 3409456 iDealMeat
iDealMeat's picture

Your IP and device MAC address are EVERYWHERE!  For being technically literate you sure are stupid.

 

You realize all laser printers print a "hidden" code that prints to identify the printer the page was printed on?

 

You realize ALL Operating systems have a back door to get in right??

 

Every telecom records and saves all conversations..  Hidden Cookies have already captured all data on all your drives..

 

All your info are belong to us..

/NSA

Thu, 04/04/2013 - 15:45 | 3409489 fonestar
fonestar's picture

Mac addresses are only local and easily spoofed moron.  IP addresses are easily hidden through use of VPN or dark-nets.  Operating systems do not have "back doors".

Now would you care to refute those simple facts or would you like to embarass yourself more?

Thu, 04/04/2013 - 16:08 | 3409571 iDealMeat
iDealMeat's picture

I'll chose to embarrass myself more..  All CLEC are required by law to have a "box" installed..

Google "back door in UNIX" and go from there. 

 

Do you think Cisco's IOS doesn't have traffic reporting features in it?

 

VPN,  Dark-nets..   ha..  now that's funny.. 

 

Like thinking you really have any "privacy" online..

Thu, 04/04/2013 - 16:18 | 3409595 fonestar
fonestar's picture

Operating systems are collections of files, folders, processes and directories!  Protocols and programs can have back doors in them and some people have even attempted to include them in previous distro's of GNU Linux.  They were quickly discovered and corrected.

Seriously, are you getting this shit from an old 2600 magazine?  Do you want to ask me about "the ping of death" next??? LOLOLOLOL!!!

Do NOT follow this link or you will be banned from the site!