A Bit Of Confusion

Wil Wheaton and I got excited and made a thing! Check out our University of Gallifrey Fighting Time Lords Shirt over at Sharksplode.

Gallifrey University Fighting Time Lords Shirt - Doctor Who parody, geeky tees, funny t-shirts, nerdy shirts

BIG NEWS! The HijiNKS ENSUE Store will be shutting down for a while so I can make some big exciting changes. If there is a shirt you want, and you DON’T WANT to wait until sometime after San Diego Comicon, you should probably buy it now. This week will be your last chance for a at least a few weeks. Please check out this blog post to see which designs won’t be coming back in case you want one of those.

NEWS2: You can hear me briefly on this ABC Australia podcast, Nerdzilla, talking about X-Men: First Class. The full interview will be posted sometime next week.

NEWS 3: I have donated a copy of HijiNKS ENSUE Volume 2: My Heart Is A Hate-Filled Pineapple to be auctioned off by the Toronto Chapter of Can’t Stop The Serenity. It features THIS SKETCH. The auction is June 18th.

NEWS 4: The story I recorded for the Machine Of Death Podcast, “Loss Of Blood,” can be downloaded NOW. It’s been so long since I recorded it that I can’t remember if I sucked or not. Either way the story is very cool.

I really don’t have any idea what Bitcoins are, but I’m pretty sure they’re going to usher in the economicopalypse. Now, if you’ll excuse me, I’ll be in my bunker where I’ve been hoarding canned beets and D cell batteries… both for their nutritional content.

COMMENTERS: I seriously don’t understand Bitcoins. Like, not at all.

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19 Comments

  1. Ha ha. I just read an article on Yahoo about bitcoins and it was the frist time I've heard of them! Apparently, the site that you can get them at use to belong to a Magic the Gathering group? Nerd money…what will they think of next!

  4. I just looked up all the online info I could find about Bitcoins, including an article at Wired.

    I still don't know what the frak they are, what they're for, or who thought they were necessary.

  6. If the Deep Web were Knoebels, bitcoins would be the tickets. Or if you don't know what Knoebels is, bitcoins are the Deep Web's version of arcade tokens, except you're supposed to trade them with other people, and (I'm pretty sure) you can't trade them back for real world currency.

    • There are a number of websites exchanging them for various currencies.

      These exchanges are also the only way to buy bitcoins — the alternative is to set your computer to work minting them from scratch, which is expected to require electricity costs on par with their current value, but AIUI is actually reasonably profitable lately, thanks to a bubble from recent media coverage.

  7. They're a way to securely send money around the world, through the internet. Not terribly hard. The really neat thing about them is the way they are made and the way the rules are enforced. Being able to mint and transfer a currency online, without trusting a third party, is pretty impressive. Hit me up with any questions you have at garrettb@thebitcoinsun.com or @gburgwardt – my twitter account.

    • Is that like LaRouche bucks, or Confederate dollars, or the money one pays for bad Nic Cage movies?

  9. If you want to know why Bitcoin will fail, just look at the fact that all the Bitcoin transaction and trade sites relate Bitcoins to the US Dollar. So long as any trade flag system is linked at its start to a real world monetary system it can not survive on its own.

    Also look at the fact that the value fluctuates from $6 USD to $20+ USD every day. Give me a break…

  10. Interweb Clerk: "Thanks for visiting the Internet today. Can I interest you in some Bitcoins?"
    Me: "What are they?"
    IC: "It's money made especially for the internet. It's like regular money except, uh, fun!"
    Me: "Well … ok, if it's fun. Let's see … I'll take $1100 worth."
    (Posted at every site) WE DO NOT ACCEPT BITCOINS!!
    Me: "D'OH!"

  11. This seems like it will end up the same way as the Tulip based economy in The Netherlands back in the 1600's. If it really gets going, due to scarcity people will go to ridiculous lengths to get bitcoins. Eventually, they'll realize that the actual value and usefulness of bitcoins is far less than the resources they use to get them, leading to a steep drop in value.

  12. all money is equally as useless as bitcoins. you think a green piece of paper is actually worth any thing at all???

      • Yea I'm just saying any one could up and make a new currency. don't know why it's so surprising to some people.

        any one have a coin miner running? I'd like to hear how those work.

  13. The only thing that bitcoins have going for them is that people can get them for free if they have enough processing power. Soon their value in relation to U.S. dollars will start to stabilize. The problem they face is that everywhere that accepts bitcoins will also accept USD or Euros or some national currency, but most place won't accept bitcoins. (Like Steve's comparison to Disn- er, Itchy and Scratchy Land dollars). When the value of the bitcoin starts to stabilize or drop, people will cash out en masse. This is analagous to the gold bubble of right now. I can't buy anything with gold. When prices stop climbing, everyone will sell, sending the value plummeting.

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