The Magic of Bitcoin

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Bitcoin has increased within worth and popularity recently as it originates to be embraced by more users across the world. In a world of government fiat currencies, Bitcoin is definitely an admirable innovation. But in this way this extends the current forex framework, instead of revolutionizing it. It was created from under nothing when cybergeeks that saw it as a organic advancement of the current web specific the actual creation and distribution of the new cybercurrency inside a paper published on the web within 2008.

The digital currency was then released in to procedure in '09.
With an insight which evaded numerous Twentieth Century macroeconomists, the cybergeek leaders recognized natural market connection between the value and also the quantity of the actual currency. So Bitcoin is actually organized to naturally restrict its quantity. All dealings within the currency tend to be documented through machines, designated because Bitcoin miners, upon ledgers that are frequently up-to-date as well as aged. Under an equation originally specified in the founding paperwork with regard to Bitcoin, new Bitcoins are made with each and every ledger update. But the actual formula identifies the number of new Bitcoins made up of every this kind of update is cut in fifty percent every 4 years, till this gets to absolutely no in 2140, once the total number associated with Bitcoin models may reach their own optimum quantity of twenty one zillion. Each Bitcoin unit, however, is divided right down to eight decimal locations, that creates 100 zillion smaller sized subunits called satoshis.

Demonoid is back up

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Demonoid is back up and running. -Tested and its legit!

In a fortunate turn of events, it looks like our trusty Demonoid is back up and running at full steam. Being skeptical at first (the site now sports a new logo and orange theme), I decided to log into the account with my old password. Lo and behold, I accessed the site and all my old posts, messages and content, where as I had left it.

Thankfully Demonoid is still semi private and by private invite only, which i have a few.

The new website is at

It goes to show that the people will fight back against the tyranny which is the system that wants to stunt technology and suppress the people

There are some fantastic torrents that on Demonoid which do not break any laws as they are free to download. Now to watch some old Charlie Chaplin movies.

Bitcoin and its future

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Bitcoin has a Bank

With currency comes services and one that Bitcoin may suffer from the lack of is a Bank and all its associated service. Interest on funds in an account, loan services, bill payment and even insurance. When we started Rimbit, we knew exactly where we were going, which is building the best Bitcoin system on the planet, with security that you can trust in. These ideas then spurned further thoughts. As we are building such a robust system, it would be to much of a stretch to bring in other specialized companies to work with us and provide all these wonderful banking services.

If Bitcoin is to replace fiat currency to some extent, it would also need to cover what a consumer would lose from such a move and that way, Bitcoin as a currency, can prosper to these services, without creating a burden to the consumer.


Ron Paul and Bitcoins

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Bitcoin - Government says, we want it!

Over the years, I have seen many politicians in many countries making some comments that are not in the peoples interest. In some countries, it seems that the Government has forgotten its elected by the people and serve the people and instead has become more like a corporation, hell bent on extracting as much out of the people to serve its own policies.

George Orwell's novel, "1984" comes to mind when I think about the suppression of peoples rights and the one sided policing policies that are slowly encroaching into our every day lives. George Orwell got the future, pretty well correct when he wrote his novel.

So that leaves us with Bitcoin and what it is meant for, why it was put together and how us a society can bring back our country back into our control.


Ron Paul and Bitcoin

I had the pleasure to listen to Ron Paul's brief comment on Bitcoin and what he said about Bitcoin is in essence, what Bitcoin is about. Bringing back the peoples money back into the hands of the people, without it being of a concern to the government.

Quote Ron Paul:

Ron Paul: My thoughts on Bitcoin and the other currencies is that they ought to be legal unless there is fraud involved. The government should not get involved in regulating private money if there is no fraud. I do not take a position on Bitcoin and other proposed currencies in a technical fashion, but I understand the political ramifications of them and I think that government should stay out of them and they should be perfectly legal, even though I don't endorse (technically) one over another.

So you can take Ron Pauls comment how you like, but the man states what Bitcoin is... Its Private Money !