Need Bitcoins? This ATM takes dollars and funds your account

[Keith and stuff]

This thread makes me want to respond and not respond at the same time. I guess responding with a useless post will save me time and be the middle ground. People asking questions in here need to do research and try to understand because otherwise it just feels like one attempt to start an argument after another.

Here is a short intro and than an hour of people asking questions about bitcoins. Someone could do something productive and just listen to this videos in the background. http://www.ronpaulforums.com/showthr...-professionals

[muh_roads]

People "claim" that the bitcoin system is "closed-source" fine lets for the sake of argument it is unhackable as in creating your own bits and injecting it into the system. There will always be exploits, hacks, malwares, virus, and anything you can think of trying to undermine the bit system. you not smart enough to say for sure the bitcoin system is 100% safe. There will always some smarter guy trying to figure out how to A. profit from it B. disruptive it just for kicks. A prime example is the MX gold or something getting hacked and people loosing all their bit coin. There WILL ALWAYS BE A WAY TO EXPLOIT A SOFTWARE/PROGRAM. MX gold maybe the first but it will not be the last.

It's open-source not closed-source btw. The latter allows for secrets. Open-source = no secrets. The code is available for anyone to see on github. It isn't me "claiming". Go look for yourself.

The only thing being hacked and exploited as it relates to bitcoin are the services and peoples personal accounts. That is their fault for being stupid and letting keyloggers get into their systems. If you don't have secondary authentication and you use an online wallet, you deserve to have your $#@! stolen IMO.

You can't hack bitcoins to be double-spent. The encryption is too complex.

[psi2941]

It's open-source not closed-source btw. The latter allows for secrets. Open-source = no secrets. The code is available for anyone to see on github. It isn't me "claiming". Go look for yourself.

i don't give a dam if its open or closed, it doesn't change the fact its a fiat system.

The only thing being hacked and exploited as it relates to bitcoin are the services and peoples personal accounts. That is their fault for being stupid and letting keyloggers get into their systems. If you don't have secondary authentication and you use an online wallet, you deserve to have your $#@! stolen IMO.

You can't hack bitcoins to be double-spent. The encryption is too complex.

i'm sorry are you a computer programmer who have years of programming experience that really looked though the code line by line? or some anonymous internet surfer who based his belief that the bit coin system is unhackable because of some webpage said so or someone else claimed so? maybe your not computer literate. NOTHING IS HACK PROOF in the real world/I.T. WORLD people will always find a way to exploit the system its a cat and mouse game.


here's peter schiff and sanity
http://www.youtube.com/watch?v=vTr_hTC90oQ

[muh_roads]

i don't give a dam if its open or closed, it doesn't change the fact its a fiat system.

If all you are concerned with is intrinsic value and that is how you define fiat, then even the price of gold & silver is fiat because it is tied to paper shorting manipulation. You can't paper short Bitcoin. The price moves entirely on buy/sell orders within the network of verified ledger transactions.

i'm sorry are you a computer programmer who have years of programming experience that really looked though the code line by line? or some anonymous internet surfer who based his belief that the bit coin system is unhackable because of some webpage said so or someone else claimed so? maybe your not computer literate. NOTHING IS HACK PROOF in the real world/I.T. WORLD people will always find a way to exploit the system its a cat and mouse game.

A global community of programmers and libertarians have looked at the code extensively. There is nothing devious within it. If there were it would be reported on one of the many active Bitcoin forums out there a very, very long time ago and would have never been accepted by Silk Road and would have never made it to the spot price it is now. You shrug off open-source and closed-source as if it means the same thing and that you just don't care. If Bitcoin was closed-source nobody would be excited about it and it would probably be worth way less than even some of the competing alternate attempts.

Computers at their current speed can't hack Bitcoin. The power consumption requirement to attack the network itself doesn't exist. It is physics. The day AES 256 encryption can be broken for that entire network of computers is the day the community will agree to increase the encryption security to a new protocol anyway. Bitcoin isn't owned by some sort of Bitcoin, Inc company and it doesn't reside on some central computer somewhere waiting to get hacked and I think that is what you are misunderstanding. It is open-source P2P.