Woke Up To This A Few Days Ago :)

hlxbravo

hlxbravo

hlxbravo

Associate
Joined
6 May 2006
Posts
1,114
Location
Rowley Regis, West Midlands
Admin - Please do not move this, as I am not looking for help on it.

Decided to update a couple of my virtual currency wallets the other day. Realised that the BTC one was using the wrong version (0.9.**, now on 0.12.0). So updated it and moved my wallet.dat file over and opened the wallet......and then nearly fell of my chair, had to leave it to update for about 15hours, so went to bed with a spinning head :D ... as all I own is a little under 1BTC, which is currently on an online exchange :

2D6WYyP.jpg.png

Just a "small" amount of almost 45000BTC ! at the current rate of £312.53 each, equates to £14,047,505.41 !! :cool: So I have since moved a little (about 88p worth) of my BTC back into the wallet, to see that it is functioning correctly and it completed all confirmations and deposited OK.

cgSSWOK.jpg.png

I did run the address against Blockchain.info and it doesn't seem to exist, or at least it hasn't been used yet. So unfortunately, it would appear that the glitch that this appeared to be, is exactly what it still is. Not that I expected anything else tbh but for a little while I did have my fingers crossed lol, which is why I hadn't posted until now.

P.S. Gibbo...if it does come though in the future, you can advise the warehouse staff that they shall become extremely busy soon :p
 
Gold Diggers!!!!!!


I know nothing about BitCoins but could you transfer to another wallet.

It just so happens I know where one is going spare........
 
Kosmiche said:
I don't understand why bitcoins have a value? Can I get a easy explanation thanks.
Click to expand...

It's a currency much like pounds and dollars in that regard - it has no inherent worth but can be used as a medium of exchange because people agree to assign it value.

Think of a currency as a very complex standard for IOUs. You give someone a cake and they give you 1BTC (it's an expensive cake). The BitCoin is like an IOU and you can then go to someone else and say I will give you this IOU (BitCoin) in exchange for those shoes. And you do. And the circulation carries on. An endless passing around of IOUs, ones that can be combined or split up because they have a numerical value attached.

Of course, that's where most of the similarities to pounds and dollars stop because then you get into fiat vs. non-fiat currencies, centralized control of the currency etc. But the fundamentals are the same - it's a system of IOUs that works because people agree to use it.
 
People have setups especially for mining for bitcoin, hell, even the manufacturers are cashing in by designing haedware especially for mining, it's very resource heavy on your gfx card and other hardware though so you probably wouldn't want to do it much on your main computer, then there's the electricity cost for mining.

I never understood it probperly myself either, i know the basics of it but setting up the software is boyond me haha
 
Nevakonaza said:
Ive never understood this bitcoin stuff,how exactly do they make money?

Does it mine your system performance in the background or something?
Click to expand...

It works on the same principle as gold. Essentially gold is completely worthless (ok it has some useful electronic properties) but it is valuable because of it's rarity. We exchange it at a changing value based on that rarity, and the human values upon wanting it.
Bitcoins are the same, we have assigned a value to their rarity, and it is very hard to mine these things. I don't know how that part works but it's algorithms that make it impossible to do without a lot of hard work.
Because they are useful online as a currency they are sought after and thus their value grows. AKA currency.
 
Am very sorry to tell you but there is a very small glitch with your Bitcoin software as there is meant to be a - sign in front of the numbers....









:p
 
You must log in or register to reply here.
Back
Top Bottom