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Okung will be... Wait, what?!


Mr. Scot

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17 minutes ago, Snake said:

Because that's going to be a huge amount of coins and unless someone trades that amount they have to mine them. 

It’s approximately 245 bitcoins to pay him 6.5 million. Easy peasy. They can buy that many anywhere on the open market.

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32 minutes ago, joemac said:

What do you mean, Good luck protecting that Bitcoin? 

Yup. That system is completely hackable and tedious to keep. Until it simplifies its a liability. I also haven't heard of any insurance on Bitcoins. Talking about it seems dumb to me, just making a target of himself. 

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Just now, Waldo said:

Yup. That system is completely hackable and tedious to keep. Until it simplifies its a liability. I also haven't heard of any insurance on Bitcoins. Talking about it seems dumb to me, jusy making a target of himself. 

The Bitcoin blockchain is completely hackable?!

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Crypto really isn’t hard. You have a digital wallet, think of it as an email. It receives bitcoins instead of emails, in any amount the including decimals. Instead of an email address it’s a line full of numbers and letters. That’s your ‘email’. People send BTC to that ‘email’ and you can send to others as well.

The block chain keeps track of ‘emails’ sending/receiving from other ‘emails’ so you can verify payments.

Though you can verify payments only the receiver can ‘refund’. Essentially it’s digital cash. You cannot reverse a payment, only make another ‘refund’ payment. Once it’s sent there is no way to get it back.

When it first came out I was sure it was going to explode. I bought and mined about 330 for $1.50 each. Took about 4/5 years to triple, decided it wasn’t worth it. Tripled my money and sold them all, thought I made a great move. 

KILL ME NOW.

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41 minutes ago, Mr. Scot said:

The cryptocurrency and other such like it is probably stuff that I could understand if I sat down and applied myself to learning it.

But full confession: I'm just not that interested.

I’d recommend taking an interest. We’re printing money like there’s zero consequences. 

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