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Will someone please explain Bitcoins and cryptocurrency to me?

  1. #1
    WellHung Black Hole
    I just haven't adequately received the concept from the interweb. Furthermore, I'd like some personal stories involving the currency. .. if anybody has any.👍
  2. #2
    Soyboy V: A Cat-Girl/Boy Under Every Bed African Astronaut [my no haunted nonbeing]
    It's internet money.

    You use it to buy drugs.
    The following users say it would be alright if the author of this post didn't die in a fire!
  3. #3
    mikeyagain African Astronaut [unalterably regard the persecutor]
    It's new news to me.. bet google can spain it..
  4. #4
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  5. #5
    Soyboy V: A Cat-Girl/Boy Under Every Bed African Astronaut [my no haunted nonbeing]
    Originally posted by vindicktive vinny
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    Knock this shit off. It's not funny, it's not clever, it's not even well executed.

    I know you think you're some tier of epic troll, but do you guys even realise how easy it would be for Lanny to cancel the hosting of this forum, spend the time he used to spend banning Finny hanging around with his San Francisco friends, and never even think about us ever again?
  6. #6
    Originally posted by MORALLY SUPERIOR BEING V: A Cat-Girl/Boy Under Every Bed Knock this shit off. It's not funny, it's not clever, it's not even well executed.

    I know you think you're some tier of epic troll, but do you guys even realise how easy it would be for Lanny to cancel the hosting of this forum, spend the time he used to spend banning Finny hanging around with his San Francisco friends, and never even think about us ever again?

    she doesnt have friends.

    we're all she have.
  7. #7
    gadzooks Dark Matter [keratinize my mild-tasting blossoming]
    Originally posted by MORALLY SUPERIOR BEING V: A Cat-Girl/Boy Under Every Bed It's internet money.

    You use it to buy drugs.

    Literally this.

    My last job title was "Blockchain Developer", so this was my area of expertise.

    Cryptocurrencies are useful for one thing and one thing only... Buying drugs online.
  8. #8
    gadzooks Dark Matter [keratinize my mild-tasting blossoming]
    There's also private/enterprise blockchain, which has applications beyond cryptocurrencies, but it's all marketing hype for the most part.
  9. #9
    gadzooks Dark Matter [keratinize my mild-tasting blossoming]
    If you want kind of an ELI5 about blockchain technology, it stores data on a whole ton of people's computers, and also keeps track of a single length of characters that corresponds to all that data, but can be reviewed for easy verification of the data stored on the "chain".

    For cryptocurrencies, this assures that your currency is legit and not some random hacker claiming to have a bunch of valuable coins.
  10. #10
    Originally posted by gadzooks Literally this.

    My last job title was "Blockchain Developer", so this was my area of expertise.

    Cryptocurrencies are useful for one thing and one thing only… Buying drugs online.

    your a fucking jedi.

    cryptos are a fucking connical scheme and nothing more.

    its worse than pyrsmid schemes because at least with pyramids you have flat surfaces to hang on.

    fucking cone.
  11. #11
    gadzooks Dark Matter [keratinize my mild-tasting blossoming]
    Originally posted by vindicktive vinny your a fucking jedi.

    cryptos are a fucking connical scheme and nothing more.

    its worse than pyrsmid schemes because at least with pyramids you have flat surfaces to hang on.

    fucking cone.

    Pretty much just said exactly that.
  12. #12
    Originally posted by gadzooks Pretty much just said exactly that.

    no, you still call the thing 'currency'.

    your a cone man.
  13. #13
    gadzooks Dark Matter [keratinize my mild-tasting blossoming]
    Originally posted by vindicktive vinny no, you still call the thing 'currency'.

    your a cone man.

    Only for technical accuracy... These ethereal cryptocurrencies are hardly comparable to actual currency.

    But the name is a remnant from when they were a "real thing". Only to those who bought into the fad, tho. It's all bullshit all the way down, tbh.
  14. #14
    Soyboy IV: The Flower of Death and The Crystal of Life African Astronaut [the oppositely able-bodied hop-step-and-jump]
    Originally posted by gadzooks Only for technical accuracy… These ethereal cryptocurrencies are hardly comparable to actual currency.

    But the name is a remnant from when they were a "real thing". Only to those who bought into the fad, tho. It's all bullshit all the way down, tbh.

    Didn't you read something like Keynes' General Theory?

    Either way, so long as I can buy my drugs I don't give a shit.
  15. #15
    Its complicated enough so that hip moms can't figure out how to buy pot cookies & average tweakers can't buy meth, but reststop can and does.
    The following users say it would be alright if the author of this post didn't die in a fire!
  16. #16
    Originally posted by gadzooks Only for technical accuracy… These ethereal cryptocurrencies are hardly comparable to actual currency.

    But the name is a remnant from when they were a "real thing". Only to those who bought into the fad, tho. It's all bullshit all the way down, tbh.

    i think currency have to have inherrent value and is accepted by the majority of the population. there must be a reason gift cards and coupons are not called currencies despite the fact that serve almost the same thing.

    are foodstamps called currency ?

    amd i think it was never a real thing. it was only real in the drug addled head of drug fiends.
  17. #17
    Soyboy IV: The Flower of Death and The Crystal of Life African Astronaut [the oppositely able-bodied hop-step-and-jump]
    Originally posted by vindicktive vinny and is accepted by the majority of the population

    What you're trying to articulate is "accepted by the government for payment of taxes" which historically is what makes or breaks a currency.
  18. #18
    WellHung Black Hole
    folks?
  19. #19
    It's like paypal for drug fiends but using your grandmas paypal account.
  20. #20
    Originally posted by MORALLY SUPERIOR BEING IV: The Flower of Death and The Crystal of Life What you're trying to articulate is "accepted by the government for payment of taxes" which historically is what makes or breaks a currency.

    not really.

    currencies can exist without government.
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