LOL bitcoin LOL
Feb. 25th, 2014 09:41 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
xp_cypherLOL bitcoin LOL
(Okay, education time: bitcoin is what's called a 'cryptocurrency', which is 'mined' by computers using cryptography to control the creation and transfer of money. It's an unregulated system - if you blinked here and said 'uh, that kinda sounds like a scam, what's to keep someone from taking the money and running?' congratulations, you're smarter than all the bitcoin true believers out there. One of the major bitcoin exchanges - which in a previous life was an exchange for online Magic: the Gathering cards, was taken offline late Monday, putting at risk something close to a million BTC - worth $350 million or so at current listed rates - that was stored with them.)
Something something fools, something something money, something something soon parted.
*goes to eat popcorn flavored with salt from the bitter bitter tears of Libertarian neckbeards losing their shirts*
(Okay, education time: bitcoin is what's called a 'cryptocurrency', which is 'mined' by computers using cryptography to control the creation and transfer of money. It's an unregulated system - if you blinked here and said 'uh, that kinda sounds like a scam, what's to keep someone from taking the money and running?' congratulations, you're smarter than all the bitcoin true believers out there. One of the major bitcoin exchanges - which in a previous life was an exchange for online Magic: the Gathering cards, was taken offline late Monday, putting at risk something close to a million BTC - worth $350 million or so at current listed rates - that was stored with them.)
Something something fools, something something money, something something soon parted.
*goes to eat popcorn flavored with salt from the bitter bitter tears of Libertarian neckbeards losing their shirts*
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no subject
Date: 2014-02-28 12:37 pm (UTC)