My first poll for the NZ public

**SMOKEU** · 29th May 2013, 22:29

Originally Posted by mashman

Did you not see that they're going after the bitcoin exchanges? google is gonna be launching theirs soon, so it might be worth having a read and then think about cashing up.

Yeah, I should cash out soon. I was going to do that a couple of months ago, but then the market crashed to around half of what it was.

**mashman** · 29th May 2013, 22:38

Originally Posted by SMOKEU

Yeah, I should cash out soon. I was going to do that a couple of months ago, but then the market crashed to around half of what it was.

Reckon bitcoin will survive?

**SMOKEU** · 30th May 2013, 10:57

Originally Posted by mashman

Reckon bitcoin will survive?

It will. Due to increasing government distrust with regard the financial markets, there is a need and a demand for a more anonymous, third party payment which isn't run by jews (to my knowledge Bitcoin isn't).

The Bitcoin economy is huge and has at least tripled in size over the past year, but I guess a downside to it is the risk of hyperdeflation which occurred recently after an artificially rapid inflation which caused Bitcoins to at least halve in value within a 24 hour period. It may not be prime time for it yet, but as we have seen the success of Silk Road and other such merchants where anonymity is either desired or required, there will always be a place for Bitcoin.

**avgas** · 30th May 2013, 11:52

Originally Posted by SMOKEU

It will. Due to increasing government distrust with regard the financial markets, there is a need and a demand for a more anonymous, third party payment which isn't run by jews (to my knowledge Bitcoin isn't).

The Bitcoin economy is huge and has at least tripled in size over the past year, but I guess a downside to it is the risk of hyperdeflation which occurred recently after an artificially rapid inflation which caused Bitcoins to at least halve in value within a 24 hour period. It may not be prime time for it yet, but as we have seen the success of Silk Road and other such merchants where anonymity is either desired or required, there will always be a place for Bitcoin.

Or miners...........who make the whole market seem as legit as blood diamonds.

**imdying** · 30th May 2013, 11:57

Originally Posted by mashman

Did you not see that they're going after the bitcoin exchanges?

Yep, thought you were just scaremongering, but I see the powers that be are rallying the troops against it.

**SMOKEU** · 30th May 2013, 11:58

They're out to get anything if they can't get their cut.

**bogan** · 30th May 2013, 12:31

So you're saying I can download this thing, which turns my computer into a heater, and gives me currency I can exchange for pies? How many pies a week are we talking here?

**mashman** · 30th May 2013, 12:39

Originally Posted by imdying

Yep, thought you were just scaremongering, but I see the powers that be are rallying the troops against it.

Scaremongering is your point of view. Mine is pretty much always concern at what the coonts are getting away with. 50 Shades of grey political stylez.

**Big Dave** · 30th May 2013, 12:46

In case you missed it last time.

Or

**avgas** · 30th May 2013, 14:19

Originally Posted by bogan

So you're saying I can download this thing, which turns my computer into a heater, and gives me currency I can exchange for pies? How many pies a week are we talking here?

Depends on your powerbill. The american farms I have seen use about $1000/month in power. But we are talking rigs running in the 10kW range.

But I am going to give it a try with my crapbox tv viewer and see if I can get 1 pie with it.

But you can buy whole rigs to do it for you
http://www.butterflylabs.com/

**bogan** · 30th May 2013, 14:27

Originally Posted by avgas

Depends on your powerbill. The american farms I have seen use about $1000/month in power. But we are talking rigs running in the 10kW range.

But I am going to give it a try with my crapbox tv viewer and see if I can get 1 pie with it.

But you can buy whole rigs to do it for you
http://www.butterflylabs.com/

The mining/exchange rate confuses me, but I've downloaded a wallet or client or some shit, which is syncing with the network or some other shit. Its the sort of ambiguous program with promises of money that would make me tell it to get fucked were it not so well known.