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Darvond: Article? Laughs. That's an entire goldmine of a thread dedicated to deconstructing what a dumb concept it is!
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OneFiercePuppy: No, it's a thread where people who don't understand how it works build strawmen and attack them. [...]
To be fair, in between the LOLslimjimsandmoneylaundering comments, there's a good amount of better-informed, well-reasoned back-and-forth in there among people for, against, and indifferent to Bitcoin in particular, and cryptocurrencies in general. Honestly, having wading through the first dozen or more pages on and off since someone here (probably Darvond) linked to it months ago, I feel it did help me understand Bitcoin a bit better (though obviously there are more efficient -- albeit less entertaining -- ways).
It should be kept in mind, however, that it IS a six-year-old thread, so expect some dated info and some hilariously wrong prognostications.
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Wait, wait, wait...I admittedly don't know much about this topic and can't really join the debate due to that, but I do have to note something interesting:
What's with all these folks saying that bitcoin is bad to have because X people use it for illegal things? Aren't we the same community who laughs at the Steam forums where they say how easy it is to pirate things with DRM-free and thus GOG must be a website for pirates? Maybe I'm reading into something wrong here, but it feels a little hypocritical. o_O
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deuteros: Grrrgh, It's hurting me even more! Do I have it all wrong?! Can't believe this opinion.
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Nirth: No, not all wrong, going about it the wrong way. :p

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deuteros: The three reasons you provided I find them to be all fair.
I can add things like portable, provably scarce, transparent, borderless, permissionless, programmable and sound.
Quite a lot to digest for gamers in here, so yeah let's stick with the basics :)
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Nirth: Yes, but that's geeky stuff that most people either assume is supposed to "just work" or can't really use it without an actual interest so I didn't really include them.

The technology behind the block chain, the public ledger that makes all bitcoins visible, is ground breaking. It's a pity most people (including institutions of all levels) are too conservative but if it works it will happen eventually, hopefully.
I love anybody who is skeptical of exaggerated claims, is now labeled "Conservative".
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deuteros: I read the first few post and it is silly to say the least. I urge you to spend some time on your own research and investigate further. The technology is amazing and it won't hurt you to acquire some knowledge about it. So you will be able to make your own decision instead of repeating others'.

I am not asking anybody to invest or anything like that. In fact back in the 90' I urged my friend to check this new technology called internet. I lend him my modem and I was so sure that he will be very glad I helped him. What could go wrong?!
After a month he (and I) was in trouble because he got a huge bill to pay (for newbies: internet back then was billed for the amount of time spent online). So the bottom line here is that it was difficult to connect to internet back then and he was not prepared and there were consequences.

If you find the Bitcoin difficult to grasp just don't touch it yet. But be aware that it is a huge thing.

To answer SarahAustin post, you clearly have the least amount of knowledge in here. And you clearly know less than John Snow which is nothing.

Cheers :)
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Darvond: I did my research. It's a reverse funnel. Turn it upside-down. You'll see.

The people who developed this and their circle of friends got the lions share, there's a hilarious amount of loss that occurs if a server is raided, is shut down, or is otherwise taken offline, if your wallet vanishes, your two bits vanish with it, and the entire currency is based on wasted electricity and mathematical hashes; power which could better be suited towards protein folding or discovering a way to make better solar arrays, and somehow this magic snake currency is deflationary based on the limited nature, even though a quantum computer could break the currency in half, even though that'd be a complete WOMBAT like bitcoin itself is.
What if your research is simply wrong? Can it be the case? If i told you are wrong would you mind trying again?

The very first explanation of yours can't be more incorrect. There is no "server" to take down. In order to take down Bitcoin network you are required to disable every single Bitcoin node around the globe and make sure it won't start from the place it left off. Good luck doing that.
This decentralization is the key component of the network. If you don't grasp that very first thing about Bitcoin you know nothing.

As for wasting electricity argument I would like to point you out to good article here:
https://hackernoon.com/bitcoin-doesnt-waste-electricity-649694ea3605
Calling it a waste is just another proof on not getting the decentralized concept right, so sort out that first, please.
If you think that for example fiat system runs without resource waste, please think again :)
There are numerous institutional buildings full of people, computers, cars and and equipment required to keep fiat currency run as best as possible, but still far from flawless.

The last part of your three-part reasoning is kind of cryptic. Quantum computers, as far as researchers know, are unable to hurt Bitcoin. Yet you are stating with confidence that they can "cut Bitcoin in half". Don't know what you mean exactly by that statement, but I think it is just pure FUD at its finest form :)

The "snake currency" and WOMBAT comments I will leave alone. I think it is just frustration and sign that you exhausted your knowledge on the subject :)

I think you are smart, but unaware in what we are dealing with here.



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zeogold: Wait, wait, wait...I admittedly don't know much about this topic and can't really join the debate due to that, but I do have to note something interesting:
What's with all these folks saying that bitcoin is bad to have because X people use it for illegal things? Aren't we the same community who laughs at the Steam forums where they say how easy it is to pirate things with DRM-free and thus GOG must be a website for pirates? Maybe I'm reading into something wrong here, but it feels a little hypocritical. o_O
Excellent point and perfect analogy.
You are getting things right!
Post edited June 16, 2017 by deuteros
Bitcoin would be bad for GOG. It has no benefit to the consumer and tons of detriments. I.e. it can be stolen easily, with no hope of retrieval; its alleged "value" is pulled out of thin air and is not based on anything other than a bit of collective illusion that it has value, a consumer who uses it has no chargeback rights like they would have if they wisely used a credit card instead, etc.

Someone should start a community wish never to add bitcoin to GOG (presuming there isn't one already).
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Ancient-Red-Dragon: Bitcoin would be bad for GOG. It has no benefit to the consumer and tons of detriments. I.e. it can be stolen easily, with no hope of retrieval; its alleged "value" is pulled out of thin air and is not based on anything other than a bit of collective illusion that it has value, a consumer who uses it has no chargeback rights like they would have if they wisely used a credit card instead, etc.

Someone should start a community wish never to add bitcoin to GOG (presuming there isn't one already).
I think that you raised very good concerns about security.
And as I stated before, you are very right to stay away from things you don't fully understand.
Very safe approach and recommended.

But I also think that you run maybe a little too far into my rights.
If I want to use Bitcoins why don't you allow me to?
I don't try to limit your ability to use fiat? Do I?

As for "collective illusion" statement Bitcoin isn't any more pulled out of thin air than dollar is.
If you want to find out how valuable your one dollar bill is just go to your bank and claim your one ounce of silver. I bet you will come up with nothing (best case scenario) or get busted and end up in mental facility (worse case scenario).
Post edited June 16, 2017 by deuteros
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Bitcoin has just gone over $9000 per coin. It has tripled in value in the few months since the last post, meaning Bitcoin owners as a group have gained tens of billions of dollars to be spent/unloaded somewhere; some of that can go into video games.

If GOG will not accept it, it'd just go to Steam/Humble Bundle/etc.

Why not start working with a payment processor to accept Bitcoin ASAP?

edit: the price went down recently, glad I didn't buy into it lol
Post edited December 31, 2017 by anonplay
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anonplay: Bitcoin has just gone over $9000 per coin. It has tripled in value in the few months since the last post, meaning Bitcoin owners as a group have gained tens of billions of dollars to be spent/unloaded somewhere; some of that can go into video games.

If GOG will not accept it, it'd just go to Steam/Humble Bundle/etc.
Oh yeah, I know. Always a bit of a letdown if you took all your fiat money to buy Bitcoin and then realize that you have no more fiat money left to buy stuff, isn't it?

Also... I don't know about you, of course, but at least MY main motive to buy from GOG is not them accepting or not accepting cryptomoney, but that I can get my games here DRM-free and without having to use a client.

If that is different for someone, well, ok...go on then, just let them move to Steam/Humble Bundle/etc. They'd be delighted. Especially if the value changes right after the buy and you technically ended up paying more for a game than someone who at the same time paid for it in Dollars in the first place. A bit exhausting to always keep an eye on the exchange rates just for buying a game for $4,99, I would think. Not to mention that, depending on transaction costs, you might end up paying more in any case. Nice if one does not care about such trivialities, I say.

But if one absoluetly gets this irresistible urge to spend all those tens of billions, I suggest a rather simple solution, concerning GOG: Exchange that Bitcoin back into Dollars and with those fantastic $9000 you get out of that - and considering the prices here - you then most likely can help yourself to get quite a few from all those games that GOG has on offer.
Post edited November 27, 2017 by ChiChian
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anonplay: Bitcoin has just gone over $9000 per coin. It has tripled in value in the few months since the last post, meaning Bitcoin owners as a group have gained tens of billions of dollars to be spent/unloaded somewhere; some of that can go into video games.

If GOG will not accept it, it'd just go to Steam/Humble Bundle/etc.

Why not start working with a payment processor to accept Bitcoin ASAP?
Because bitcoin and other types of non-existing "virtual" goods are a scam created by IT Corporations/Govs.

/End
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anonplay: Bitcoin has just gone over $9000 per coin. It has tripled in value in the few months since the last post, meaning Bitcoin owners as a group have gained tens of billions of dollars to be spent/unloaded somewhere; some of that can go into video games.

If GOG will not accept it, it'd just go to Steam/Humble Bundle/etc.

Why not start working with a payment processor to accept Bitcoin ASAP?
Here, let me riddle you this. How exactly does one extract a Triganic Pu from a Ningi?

Or to put it in a less obtuse way, with the wasted electricity having such an allegedly high value, just how would anyone quantify such hilariously high amounts into human amounts, and how does that even work?
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anonplay: Bitcoin has just gone over $9000 per coin. It has tripled in value in the few months since the last post, meaning Bitcoin owners as a group have gained tens of billions of dollars to be spent/unloaded somewhere; some of that can go into video games.

If GOG will not accept it, it'd just go to Steam/Humble Bundle/etc.

Why not start working with a payment processor to accept Bitcoin ASAP?
Yeah, always a good idea to get in on something AFTER a big run-up in price.





Oh, wait. That's the opposite of a good idea.
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anonplay: Bitcoin has just gone over $9000 per coin. It has tripled in value in the few months since the last post, meaning Bitcoin owners as a group have gained tens of billions of dollars to be spent/unloaded somewhere; some of that can go into video games.

If GOG will not accept it, it'd just go to Steam/Humble Bundle/etc.

Why not start working with a payment processor to accept Bitcoin ASAP?
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Darvond: Here, let me riddle you this. How exactly does one extract a Triganic Pu from a Ningi?

Or to put it in a less obtuse way, with the wasted electricity having such an allegedly high value, just how would anyone quantify such hilariously high amounts into human amounts, and how does that even work?
The Triganic Pu is a unit of galactic currency, with an exchange rate of eight Ningis to one Pu. This is simple enough, but, since a Ningi is a triangular rubber coin six thousand eight hundred miles along each side, no one has ever collected enough to own one Pu. Ningis are not negotiable currency, because the Galactibanks refuse to deal in fiddling small change.
GOG needs to accept Monopoly money pronto. I have a few $100K laying around waiting to be spent.
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paladin181: GOG needs to accept Monopoly money pronto. I have a few $100K laying around waiting to be spent.
That reminds me, I just built a crack house over on Baltic Avenue. You all need to come check it out.
Post edited November 27, 2017 by tinyE
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tinyE: That reminds me, I just built a crack house over on Baltic Avenue. You all need to come check it out.
Pfft. Crack houses on Baltic. That's so pedestrian. You need to build them on Boardwalk to get the high rollers. Call them casinos and have the waiters bring hookers and blow right to the tables.