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Originally Posted by seeandsee
i mean you get them for free for "securing and verifying" oh really. I know you need to pay even for power bills, i don't see nothing free for anybody in this scheme expect for some people making money from this.
Would you like to explain how do you make network secured?
And do you really understand "verifying transaction" part?
Or you just think yeah that sound nice? That sound like: "I must be doing something good like securing network and verifying transaction that way... that is great, that is so cool"
And yes all eggs in one basket, but then how much % of life savings are you will to put in that basket?
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Bitcoins is based off of this white paper. If you want to know the thinking behind it, read it.
http://www.bitcoin.org/bitcoin.pdf
I have a pretty good understanding about how it works, but its not necessary to have 100% nerd understanding. The fact is, it works. I have made lots of purchases locally with my "worthless" bitcoins and I've even bought gold and silver with them. I've made lots of $$ playing texas holdem online for bitcoins.
I have no idea about circuits and transistors, I guess that means I cant use a computer or my iphone.
Still don't know why you talk about life savings.. Its just a means of transfer. You can treat it as an investment as some do but I dont.