Sunday, April 10, 2011

Less nerdy (hopefully)

Okay, as promised, here is something less nerdy, I hope!
Did you know about Bitcoins yet?
Assuming that you don't, this post will explain them to you. I stumbled upon Bitcoins a few days ago.
Bitcoins are a anonymous and decentralized Cryptocurrency.
What does this mean?
Well, let's see this Video, it will clear a lot up.

 Bitcoin FAQ

So, you may not understand it yet. Its a currency you can use for anonymous, free and fast digital payments. It's not the only clue that there aren't necessarily any fees you have to pay for transactions. Moreover, you are pretty anonymous as long as you use enough different account adresses (which isn't quite a problem). The transactions are probably really fast even in peak times.
The in my opinion best thing is that it's decentralized and not controlled by any government. They can't freeze your account, like paypal does all the time (wikileaks for example). In fact, the amount of bitcoins that is there is clearly predictable and thus the inflation rate is only influenced by speculation: the inflation will fade until approximately the year 2033, because the amount of  bitcoins is limited to 21 millions.
What Bitcoin does need yet is a further offer of goods to buy via bitcoins. The only thing limiting bitcoins is the stuff you can buy with it.
So, if you like the idea, support it via selling stuff for bitcoins! This will rise the demand and spread the idea!
I really love the idea and appreciate the thought that we create our own currency, without limitations of governments and the biased print-money-policy of them.
Use bitcoins!
They will get very expensive soon, so get involved now as long as the deflation hasn't stepped up!

PS: I know there will be a lot of objections in the comments. They will mainly be to the point that you like an authority like paypal to be safer for your transactions. This is discussed on the bitcoin wiki and in the forum.


  1. Pretty interesting system, but the safe issues came to my mind too. Maybe I go and check out that wiki.

  2. Sounds like a good alternate Method for online payment for me.

  3. i dont understand the need for money anyway. why couldnt there just be a system where everyone is equal, gets handed out equal amounts of ration over a period of time. would save all of that money bullshit.

  4. sounds intresting, but has this project really a future? I mean, a big enough amount of pple using this or selling stuff for bitcoins to make the system usefull.

  5. Yeah, check out
    I think, it's pretty good working right now.
    The volume is like 3 millon euros, which mostly get traded already.

  6. This is the second time I see this, but I don't have high hopes for it... It seems like a scam somehow :p

  7. I did hear of them before but if you ask me IT'S A RIP-OFF mate don't bother or maybe not some more feedback would be great! keep us posted

  8. don't trust this whole thing...

  9. it's hard to trust them, but i have to agree, that it sounds like an awesome business idea

  10. This is a great idea! Libertarian techno-banking!

  11. Hmm Got to check that out thanks for sharing

  12. Do you actually use these?

  13. Yeah I use them, and you probably heard of them now as well ;)