[Cialug] OT: Bitcoin

[Scott Yates]

If I understand the underlying technology (and, like many others, that
might not be guaranteed), a large part of the value of crypto currency
stems from it being completely decentralized.  This means it is not
"controlled" by a central bank in any way.

This is a REALLY good article on "why bitcoin matters"
<http://mobile.nytimes.com/blogs/dealbook/2014/01/21/why-bitcoin-matters/>




On Mon, Aug 25, 2014 at 1:14 PM, Lee Henderson <leemhenderson at gmail.com>
wrote:

> Exactly. The U.S. dollar's (like many other currencies) value is based on
> market forces. Namely demand. Bitcoin and other cryptocurrencies have value
> for the same reason. Right now I believe investment and rarity, rather than
> trade, keeps Bitcoin's value high. Understanding how cryptocurrency relates
> to physical currency is a key hurdle to get over when talking about wider
> adoption.
>
> Lee H.
>
> On Mon, Aug 25, 2014 at 12:33 PM, Adam Hill <adam at diginc.us> wrote:
>
> > Just like real money, crytocurrency only has value because people decided
> > to attach value to it.
> >
> >
> > On Mon, Aug 25, 2014 at 12:06 PM, Justin Richeson <neomatrixjr at gmail.com
> >
> > wrote:
> >
> > > I don't know of any, but if you find anything out please let me know.
> I
> > > know I'd at least be interested in some education on the subject.  I
> > still
> > > can't wrap my head around the concept...and certainly not why it's
> worth
> > > anything.... :(
> > >
> > >
> > > On Mon, Aug 25, 2014 at 11:39 AM, Lee Henderson <
> leemhenderson at gmail.com
> > >
> > > wrote:
> > >
> > > > Good question. I suppose my expectations would encompass the
> following.
> > > >
> > > > - Knowledge share and support among members
> > > > - Cryptocurrency education and promotion in the community
> > > > - Locate or develop resources for miners (e.g. power strategies, colo
> > > > facilities etc.)
> > > > - Hardware group buys
> > > >
> > > > Lee H.
> > > >
> > > >
> > > > On Mon, Aug 25, 2014 at 11:28 AM, Todd Walton <tdwalton at gmail.com>
> > > wrote:
> > > >
> > > > > On Aug 25, 2014 10:33 AM, "Lee Henderson" <leemhenderson at gmail.com
> >
> > > > wrote:
> > > > > >
> > > > > > I don't believe I've asked this here before, but is anyone aware
> of
> > > any
> > > > > > local Bitcoin / cryptocurrency groups or organizations? Anyone
> > > > interested
> > > > > > in such a thing?
> > > > >
> > > > > I am not. What would such an organization do?
> > > > >
> > > > > --
> > > > > Todd
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