MtGox Insolvency General

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MtGox Insolvency General Anonymous Mon Feb 24 23:18:43 2014 No.132353 [STICKY]

http://buttcoin.org/extended-dormancy-mt-gox-erupts
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

Pic related.

>>	Anonymous Mon Feb 24 23:20:42 2014 No.132361 Finally. Finally it's all over.

>>	Anonymous Mon Feb 24 23:20:42 2014 No.132362 File: 19 KB, 220x276, 1393302021764.jpg [View same] [iqdb] [saucenao] [google] postin in a sticky

>>	Anonymous Mon Feb 24 23:21:43 2014 No.132365 File: 266 KB, 500x500, cantspellbtc.png [View same] [iqdb] [saucenao] [google] toastin' in a sticky bread

>>	Anonymous Mon Feb 24 23:21:43 2014 No.132366 File: 234 KB, 800x531, 1393302097702.jpg [View same] [iqdb] [saucenao] [google] rip cryptocurrency Why didn't you stop MtGoy? Now it's all ogre.

>>	Anonymous Mon Feb 24 23:22:13 2014 No.132374 Looks like I picked the wrong day to stop sniffing glue

>>	Anonymous Mon Feb 24 23:22:43 2014 No.132370 File: 372 KB, 603x818, 1393302137797.png [View same] [iqdb] [saucenao] [google] >mfw I've never owned monopoly money

>>	Anonymous Mon Feb 24 23:23:13 2014 No.132375 File: 43 KB, 452x350, image.jpg [View same] [iqdb] [saucenao] [google] Posting in bread

>>	Anonymous Mon Feb 24 23:23:43 2014 No.132377 File: 44 KB, 740x290, mtgox.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Mon Feb 24 23:23:43 2014 No.132379 yeah I'm sure most of those fucking coins aren't in their own wallets and Goxers aren't just waiting for another market to unload on >any year >providing liquidity to scammers and criminals how can people possible support bitcoin?

>>	Anonymous Mon Feb 24 23:24:13 2014 No.132381 So how long until he's killed by an angry neckbeard?

>>	Anonymous Mon Feb 24 23:24:43 2014 No.132382 On behalf of those who did their research, and didn't delude themselves into buying a fake lottery ticket.... We told you so.

Anonymous Mon Feb 24 23:25:13 2014 No.132385
File: 351 KB, 1613x1210, bitcoin-lambo-g.jpg [View same] [iqdb] [saucenao] [google]

>>132353
>linking buttcoin.org
haha oh wow mod, you fucked up.

buttcoin is SA, they're still mad /g/entoomen rused them from mining bitcoin in 2010 and 2011 when bitcoin was under $1/BTC. we told them bitcoin was a scam and made them some OC and they ran with it. it kept mining difficulty low and we made a shitton of money. pic related.

>>	Anonymous Mon Feb 24 23:25:42 2014 No.132388 >>132381 Haha did you see those protestors? They were going to limp-wristedly worry him to death; that's why mtgox is incommunicado.

>>	Anonymous Mon Feb 24 23:25:43 2014 No.132386 Everyone will now lose faith in decentralized currency. It truly is a sad day.

>>	Wipe !!ZG/uL5DGQan Mon Feb 24 23:26:12 2014 No.132390 >>132353 Glad to be a part of sticky history. Thanks moot for the board

>>	Anonymous Mon Feb 24 23:27:12 2014 No.132397 File: 1.87 MB, 768x373, goxprotest.gif [View same] [iqdb] [saucenao] [google] >>132388

>>	Anonymous Mon Feb 24 23:28:12 2014 No.132404 as someone who never dumped money into bitcoin, someone explain to me what's happening

>>	Anonymous Mon Feb 24 23:28:43 2014 No.132400 File: 2.00 MB, 329x175, qDGr8bn.gif [View same] [iqdb] [saucenao] [google] >how the pdf is reading to everyone with monopoly money right now

>>	Anonymous Mon Feb 24 23:28:43 2014 No.132401 the dream is ded boys

Anonymous Mon Feb 24 23:28:43 2014 No.132402

https://vip.btcchina.com/page/notice20140225
>The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox.
>insolvency
http://blog.coinbase.com/post/77766809700/joint-statement-regarding-mtgox

possible hoax or not:
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
> At this point 744,408 BTC are missing due to malleability-related theft which went unnoticed for several years.
>gox.com redirects to mtgox.com a couple hours after the leak
>gox halts trading a couple hours after the leak like the document says

https://www.mtgox.com/
>down
https://support.mtgox.com/
>down
support is on zendesk so they shouldn't be going down as well unless MTGOX IS KILL

>>	Anonymous Mon Feb 24 23:28:43 2014 No.132403 File: 374 KB, 1920x1200, 1393302520483.jpg [View same] [iqdb] [saucenao] [google] please die, cryptocurrencies

>>	Anonymous Mon Feb 24 23:29:13 2014 No.132410 >>132404 the largest bitcoin exchange just went tits-up everyone who had money or bitcoins in there is shit out of luck this is actually good for bitcoin because _______

>>	Anonymous Mon Feb 24 23:29:43 2014 No.132407 How incredibly incompetent can mtgox be? This is BASIC ACCOUNTING. If this was true, this is YEARS of incompetence. That's why I think it's fake.

>>	Anonymous Mon Feb 24 23:30:12 2014 No.132413 >tfw got out in the 700 mark stay pleb

>>	Anonymous Mon Feb 24 23:30:42 2014 No.132419 >>132410 >largest lel no. bitstamp and huobi are larger

>>	Anonymous Mon Feb 24 23:30:43 2014 No.132414 >>132407 >incompetence It was all a ruse. They took everyone's money and ran.

>>	Anonymous Mon Feb 24 23:30:43 2014 No.132416 >all these sourgrape fags coming out of the woodwork >HA-HA I TOLD U BITCOIN WAS A SCAM exchange != currency

>>	Anonymous Mon Feb 24 23:30:43 2014 No.132417 http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft this document was leaked literally 30 mins before mt goyim stopped trading and 2 hours before mtgox.com went blank completely

>>	Anonymous Mon Feb 24 23:32:12 2014 No.132427 I don't think I ever had faith in a site built for Magic The Gathering.

Anonymous Mon Feb 24 23:32:12 2014 No.132434

Not only did the mt. gox wallet-holders gets screwed, but EVERYONE with bitcoins is losing money right now because of mt. gox's fuckups.

Mark Karpeles must be the most hated man on the planet right now who isn't a public figure. I almost feel sorry for the guy, all he wanted to do was play magic the gathering...

>>	i sell cheap gamma !!fcM6uMlEawK Mon Feb 24 23:32:42 2014 No.132432 File: 83 KB, 600x800, BgXhVwPCcAAKDR1.jpg [View same] [iqdb] [saucenao] [google] Shut it down.

>>	Anonymous Mon Feb 24 23:33:13 2014 No.132437 This just means it's a good time to buy buttcoins at bargain prices. $488 @ coinbase currently.

>>	Anonymous Mon Feb 24 23:33:13 2014 No.132441 File: 258 KB, 351x364, r u le foken srs m8.png [View same] [iqdb] [saucenao] [google] >there is a sticky discussing buttcoins/cryptocurrencies this board is a fucking failure

>>	Anonymous Mon Feb 24 23:33:13 2014 No.132443 File: 29 KB, 600x438, Capture.png [View same] [iqdb] [saucenao] [google] >>132419 is that so

>>	Anonymous Mon Feb 24 23:33:13 2014 No.132444 >>132385 What proof do you have this image isn't some cunt who'd rented a lambo for a day or something?

>>	Anonymous Mon Feb 24 23:34:13 2014 No.132448 Everyone in the do/g/e threads are in the IRC drama channel also: ##mtgox-chat@freenode (that's two #s)

>>	Anonymous Mon Feb 24 23:34:42 2014 No.132447 >>132434 He's also made a lot of drug dealers very angry.

>>	Anonymous Mon Feb 24 23:34:42 2014 No.132449 >>132416 >i-i-ts going to be fine >im going to be a b-billionaire any day now

Anonymous Mon Feb 24 23:34:42 2014 No.132450

>>132417
Man, if this is fucking real it's really heavy.

They need 750000btc to cover their fucking debts.

Holy shit, Satoshi is going to have to come out of retirement to cover this one. I swear to god if we start seeing bitcoin days destroyed in the next few days I'm going to be seriously worried about the future of bitcoin. We will most certainly see a massive crash if this document proves to be real.

>>	Anonymous Mon Feb 24 23:35:12 2014 No.132459 >>132449 I didn't say any of that. but attacking bitcoin because an exchange fucked up is like saying fiat is pointless because a bank got robbed

>>	Anonymous Mon Feb 24 23:35:42 2014 No.132455 >>132443 >the day they're failing no fucking shit. most of the time they're not even in the top 5

>>	Anonymous Mon Feb 24 23:35:42 2014 No.132457 >>132434 Didn't their security fuck up a few years ago bring the value down to near 0? >I said to myself: It'll never get to $30 again :(

>>	Anonymous Mon Feb 24 23:36:12 2014 No.132465 >>132441 this board exists because the cyrpto shit threats were fucking up /g/ and if you don't like it, leave

>>	Anonymous Mon Feb 24 23:36:13 2014 No.132464 >>132443 >no huobi >no okcoin huobi's 24 hour is over 180,000 coins traded. more than mtgox -- the day MTGOX IS FAILING.

>>	Anonymous Mon Feb 24 23:36:42 2014 No.132461 >>132450 >I'm going to be seriously worried You're not worried now? Even after all the problems with Mt Gox and Silk Road 2.0?

>>	Anonymous Mon Feb 24 23:37:13 2014 No.132467 >>132459 The biggest exchange which trades 20-50% of all the currency on any given day is going to shit. Imagine losing 20-50% of the biggest banks.

>>	Anonymous Mon Feb 24 23:38:42 2014 No.132470 >>132467 they haven't been the biggest exchange or even in the top 3 for months.

>>	Anonymous Mon Feb 24 23:39:12 2014 No.132480 >>132465 mc'fucking kill yourself

>>	Anonymous Mon Feb 24 23:39:42 2014 No.132475 Got my coins out like a week before they ended withdrawals. Thank fukkk.

>>	Wipe !!ZG/uL5DGQan Mon Feb 24 23:39:42 2014 No.132477 >>132432 You're still up gamma?

>>	Anonymous Mon Feb 24 23:39:42 2014 No.132478 >>132450 >Holy shit, Satoshi is going to have to come out of retirement to cover this one Good, maybe someone will out the gook and he'll be burned along with Mark

>>	i sell cheap gamma !!fcM6uMlEawK Mon Feb 24 23:40:12 2014 No.132482 File: 9 KB, 708x127, mtgox.png [View same] [iqdb] [saucenao] [google] >>132417 lel mt gox is seriously insolvent.

>>	Anonymous Mon Feb 24 23:40:43 2014 No.132484 >>132470 One of* the biggest exchanges which trades 20-50% of all the currency on any given day is going to shit. Imagine losing 20-50% of the biggest banks. Feel free to counter this rather than argue semantics.

>>	Anonymous Mon Feb 24 23:40:43 2014 No.132485 File: 22 KB, 306x295, laughinggirl-office.jpg [View same] [iqdb] [saucenao] [google] >>132480 >he doesn't know /biz/ was created specifically because of dogecoin

>>	Anonymous Mon Feb 24 23:40:43 2014 No.132486 How low will Bitcoin go? I want to buy up a few when it gets low. You guys think it'll bottom out at $200? Lower?

Anonymous Mon Feb 24 23:41:13 2014 No.132492

>>132461
I'm not particularly worried about BTC as a whole I guess, it's just that the leaked document is saying that they only way they can cover their debts is to get whales to cover them.

>support from bitcoin players and the core community

So if they don't get that, it means that 750,000 btc are now loose in the economy. What that means is anyone's guess but the main thing to worry about is that it's 750K worth of pure market uncertainty. Are they in the hands of one group of people who are going to massively dump them the first chance they get? Are they lost forever? At least the FBI coins are public knowledge, right?

This is all just up in the fucking air right now and that's bad for pricing certainty.

Anonymous Mon Feb 24 23:42:13 2014 No.132501
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>>132484
are you retarded?

http://blogs.wsj.com/moneybeat/2014/02/20/bitbeat-does-bitcoin-really-need-the-winkdex/
>Mt. Gox may not be the number-one exchange anymore, but they’re still a big player.

pic related doesn't even include huobi which is the LARGEST FUCKING EXCHANGE.

>>	Anonymous Mon Feb 24 23:42:43 2014 No.132498 >>132484 That wasn't me, anyway. The point of my original post was to state that bitcoin is/was NOT a scam. So yes, it sucks that mt Gox was such a colossal fuckup. It doesn't change the fact that crypto/bitcoin is a revolutionary technology.

>>	Anonymous Mon Feb 24 23:42:43 2014 No.132499 File: 59 KB, 255x255, 1332402514178.png [View same] [iqdb] [saucenao] [google] >stealing all the buttcoins >now buttcoins aren't worth a thing Sure, that's a good plan. I wonder who's shekels are behind this.

>>	Anonymous Mon Feb 24 23:43:42 2014 No.132503 has anyone mentioned huobi yet, they really need more advertising

Anonymous Mon Feb 24 23:44:12 2014 No.132504

>>132486

I honestly think it will bottom out before that. Too many high-rolling whales who can pump at will and prop up the market.

Although the problem is it may not be going up any time soon after because of how many newbie buyers were scared off. Then again, Greed is powerful. So maybe the greater fool will throw in his chips sooner rather than later.

Anonymous Mon Feb 24 23:44:42 2014 No.132506

>>132492

>750K worth of pure market uncertainty

And which such a considerable % of coins in this 'volatile' state, how will Bitcoins ever be backed by major companies? The theory of it is great, but as it stands, Bitcoin has highlighted all the worries one would expect from a non-FIAT currency.

>>	i sell cheap gamma !!fcM6uMlEawK Mon Feb 24 23:45:42 2014 No.132511 >>132477 Yea, I like to go cycling late at night. Like 11-12am.

>>	Anonymous Mon Feb 24 23:45:43 2014 No.132508 i wonder if anyone has already put up a hit against mtgox for fucking up their wealth i mean there are thousands of bitcoin richfags, right? someone had to do it lel what happens after the owner of mtjew dies?

>>	Anonymous Mon Feb 24 23:46:42 2014 No.132516 >>132501 If we removed even 5% of a particular currency circulating and left it in this volatile state, then you can be sure as shit it will lose value. How fucking delusional are you to think otherwise?

>>	Anonymous Mon Feb 24 23:46:43 2014 No.132513 File: 56 KB, 1057x340, how low can it go.png [View same] [iqdb] [saucenao] [google] http://www.youtube.com/watch?v=_-GaXa8tSBE

Anonymous Mon Feb 24 23:47:12 2014 No.132527
File: 134 KB, 529x568, 1393303666007.jpg [View same] [iqdb] [saucenao] [google]

If only it were easier to get dollas into exchanges.

The only reason that crashes are steep and rises are gradual is because it takes 5 to 9000 business days for people like me to get money order deposits processed by shits like CampBX.

>>	Anonymous Mon Feb 24 23:47:42 2014 No.132526 >>132516 that has absolutely nothing to do with the statement that mtgox is not the #1 exchange.

>>	Anonymous Mon Feb 24 23:47:43 2014 No.132521 So who here actually had coins left on Mt Gox?

>>	Anonymous Mon Feb 24 23:47:43 2014 No.132522 File: 1014 KB, 3264x2448, kek.jpg [View same] [iqdb] [saucenao] [google] >>132397 >filename is my reaction when gentiles trust their shekels with Mt. Goy.

>>	Anonymous Mon Feb 24 23:47:43 2014 No.132523 I just dropped a grand into 2 Bitcoins so... let's see what happens.

>>	Anonymous Mon Feb 24 23:48:12 2014 No.132533 >>132521 I had 8 cents USD left over from years ago when dwolla was a viable option.

>>	Anonymous Mon Feb 24 23:49:12 2014 No.132536 >>132523 You're going to lose a lot of it. I just want to be the first to tell you that if you don't sell now, you will lose more. Just... that's all. This has nowhere to go but down. I was here first.

>>	i sell cheap gamma !!fcM6uMlEawK Mon Feb 24 23:49:42 2014 No.132537 The bitcoins exchanges need a pooled insurance scheme. Why would any business want to take on this mt gox type risk?

>>	Anonymous Mon Feb 24 23:49:42 2014 No.132538 >>132370 >the real monopoly money is the fiat federal reserve notes in your pocket

>>	Anonymous Mon Feb 24 23:50:12 2014 No.132542 >>132521 i dropped 1k into mt goyim early in 2011 and had 100 coins locked up that in ever bothered getting around to withdrawing. i'm a NEET fag and they represent pretty 100% of my net worth. oh well.

>>	Anonymous Mon Feb 24 23:50:13 2014 No.132544 >>132444 everyone is only 2 co-signers away from any car they want

>>	Anonymous Mon Feb 24 23:50:43 2014 No.132543 File: 44 KB, 612x457, 1332814402946.jpg [View same] [iqdb] [saucenao] [google] >>132353

Anonymous Mon Feb 24 23:51:13 2014 No.132545

>>132526

And I ammended my comment to "one of the largest". Mt Gox is still a large player in the Bitcoin business. You may not be losing the biggest current player, but you're still losing one of the main ones, and one of the "historically" strong institutions..

>>	Anonymous Mon Feb 24 23:51:43 2014 No.132548 >>132508 Unfortunately I think there are enough dangerous scum out there, who were already mad at having their drug faucet SR2 being shut down and had their money in Mt. Gox, that it's a possibility.

>>	Anonymous Mon Feb 24 23:51:43 2014 No.132549 This is just the tip of the iceburg. We are just hearing about this, but imagine all those people who will wake up tomorrow and hear the news and panic sell. We'll probably see 400 by tomorrow afternoon.

>>	Anonymous Mon Feb 24 23:52:13 2014 No.132558 Can gox be sued?

>>	Anonymous Mon Feb 24 23:52:42 2014 No.132551 >>132523 Don't listen to them, anon. Buy and keep buying! You'll be a millionaire any minute now...

>>	Anonymous Mon Feb 24 23:52:42 2014 No.132552 >>132527 Yup. All by design. If it was easy than the federal reserve would be bankrupt by now.

>>	Fixie !!UQdgoR2y2Mz Mon Feb 24 23:52:42 2014 No.132554 File: 371 KB, 800x600, lav1.jpg [View same] [iqdb] [saucenao] [google] >>132511 Me too. You ride fixed? Pic related, it's my frame.

>>	Anonymous Mon Feb 24 23:53:43 2014 No.132561 >>132508 >lel what happens after the owner of mtjew dies? Not shit if he's stepping down as CEO. Guy's gonna have to live in a panic room for the rest of his days though.

>>	Anonymous Mon Feb 24 23:53:43 2014 No.132563 >>132542 You had nearly $100K worth and never considered to withdraw some?

>>	Anonymous Mon Feb 24 23:54:02 2014 No.132573 Uh-oh >Mt. Gox has confirmed it will file bankruptcy in private discussions with other members of the bitcoin community. it's actually ogre guys http://recode.net/2014/02/24/the-mt-gox-bitcoin-exchange-has-disappeared/

>>	Anonymous Mon Feb 24 23:54:32 2014 No.132569 its genius. pure genius. unregulated industry, take people's money and run. based nippon

>>	Anonymous Mon Feb 24 23:55:01 2014 No.132580 >>132544 >>132444 http://www.dailydot.com/business/4chan-bitcoin-lamborghini/

>>	Anonymous Mon Feb 24 23:57:02 2014 No.132588 >>132569 That's the risk of the free market. Everyone who bought bit coins knew this was a possibility. You don't need a nanny state to protect you from every bad guy in the world. Sadly statist shills are going to exploit this to the max

>>	Anonymous Mon Feb 24 23:57:02 2014 No.132589 >yfw this causes DOGE to go to the moon

>>	Anonymous Mon Feb 24 23:57:32 2014 No.132583 File: 42 KB, 580x346, hey faggot it's happening.jpg [View same] [iqdb] [saucenao] [google]

Anonymous Mon Feb 24 23:57:32 2014 No.132585
File: 83 KB, 640x427, bitcoin-scam.jpg [View same] [iqdb] [saucenao] [google]

>>132580
the funniest part was the /g/entooman didn't even test drive it and had no idea how to drive a lambo. he was asking /o/ for driving advice and /o/ was getting butthurt

>>	Anonymous Mon Feb 24 23:59:32 2014 No.132596 >>132536 I did what you said... just sold... lost $100. Sucks, oh well... at least I didn't lose $1000!

>>	Anonymous Tue Feb 25 00:00:02 2014 No.132607 File: 21 KB, 524x702, 1280073612.png [View same] [iqdb] [saucenao] [google] Shit's going down fast.

>>	Anonymous Tue Feb 25 00:00:31 2014 No.132601 >>132580 >http://www.dailydot.com/business/4chan-bitcoin-lamborghini/ now why would you buy a fucking car when cars depreciate the moment they hand over the keys can you not transfer BTC for USD?

>>	Anonymous Tue Feb 25 00:00:31 2014 No.132603 >>132596 You'll feel fucking brilliant about it in 24 hours if/when this leaked document is generally accepted as true.

Anonymous Tue Feb 25 00:01:02 2014 No.132612

>>132549

Good point. Tomorrow will tell the real story. All of this news broke relatively late in the day when the casual bitcoiners were probably not paying close attention.

Add on the fact that the status of the 750,000K stolen coins, which at the time we all found out about it would've been worth close to half a BILLION dollars, are not only un-accounted for but could be in the process of being sold RIGHT NOW, gives you a real crisis of confidence in the market unless you're a real true believer in crypto-currencies.

Anonymous Tue Feb 25 00:01:02 2014 No.132613
File: 47 KB, 952x174, 1393304495858.png [View same] [iqdb] [saucenao] [google]

>>132601
because he probably cashed out millions of dollars and gave zero fucks?

/g/entoomen have been mining since 2010, when you could've made tens or even hundreds of bitcoin using a top-of-the-line vidya ATI card.
pic related

>>	Anonymous Tue Feb 25 00:01:02 2014 No.132614 >>132603 Nothing beats the anticipation and confirmation of an uncertainty swinging in your favor.

>>	Anonymous Tue Feb 25 00:01:32 2014 No.132610 >>132601 It was meant to be a kind of advertisement. And the guy has a lot of bitcoins. And he pretty much bought it when bitcoin was worth the most, so he got quite the deal.

>>	Anonymous Tue Feb 25 00:02:02 2014 No.132616 >>132613 (tens or hundreds per DAY on a ATI 5970 at only the cost of electricity)

>>	Anonymous Tue Feb 25 00:03:02 2014 No.132622 >>132616 would it not make sense to mine the coins in a country where electricity is cheap?

>>	Anonymous Tue Feb 25 00:03:32 2014 No.132618 >>132607 This is just doge coin doing a gravity assist to the moon

>>	Anonymous Tue Feb 25 00:03:32 2014 No.132621 Don't you have random blue board people to ban?

>>	Anonymous Tue Feb 25 00:04:01 2014 No.132625 >>132612 >gives you a real crisis of confidence in the market unless you're a real true believer in crypto-currencies. The problem is and always will be 3rd parties because there is zero accountability unless a trend of murders starts happening.

Anonymous Tue Feb 25 00:05:01 2014 No.132628

>>132558
Probably not, if they keep existing and refuse to pay up, I guess you can, subject to whatever terms you agreed to when you sent the money. But if they declare bankruptcy and go into liquidation, the best you can do is put in a claim as an unsecured creditor with the administrator.

In reality though, they're just going to disappear.

Anonymous Tue Feb 25 00:06:01 2014 No.132633

>>132622
yes, in the united states portland residential is like 7cents/kWh.

it didn't really matter in 2010. it was highly profitable no matter what even when bitcoin was under $0.10/BTC. you made tens/hundreds of BTC per day and could make $5 per day on an ATI video card if you wanted to sell it then. pretty much everyone ROIed their investment AT THE SELLING PRICE IN 2010 in under a month.

you see those DOGE threads? last month you could've paid off a brand new video card in under a month too... that's why people in those threads have like 30+ video cards.

>>	Anonymous Tue Feb 25 00:06:01 2014 No.132635 File: 149 KB, 506x201, BhS1fruCIAAUaK2.png-l.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 25 00:06:31 2014 No.132630 >>132385 I suspect that some mods go to SA. The first version of the much loved sticky on /fit/ was straight up copied and pasted from SA's fitness board for example.

>>	Anonymous Tue Feb 25 00:07:02 2014 No.132636 GETTING READY TO BUY SO HARD.

>>	Anonymous Tue Feb 25 00:07:02 2014 No.132637 its finally over, mt. goy is kill. Time for a new age of prosperity in a gox-less 2014

Anonymous Tue Feb 25 00:08:17 2014 No.132642

>>132630
that would be funny, because there was a semi-secret rizon channel /g/entoomen used to organize disinfo shilling on other sites (and sometimes on /g/ itself) to keep mining difficulty low.

the reasoning was, the more people that mined, the fewer BTC share of the pie you would get. i'm fairly certain /g/ lambo guy was in on the disinfo shilling on SA. it was glorious, they fell for it hook line and sinker (it helped that many of us were longtime goons too), and made it especially easy when they started producing their own content/websites/invasions.

>>	Anonymous Tue Feb 25 00:08:18 2014 No.132638 File: 100 KB, 960x541, Mt_Gox_CEO_Mark_Karpeles_Wide.jpg [View same] [iqdb] [saucenao] [google] Trust Jews, they said. They're good with money, they said.

>>	Anonymous Tue Feb 25 00:08:47 2014 No.132641 >>132636 Same. Getting close to my buy point already.

>>	Anonymous Tue Feb 25 00:08:48 2014 No.132640 >>132622 Fuck that, just mine on someone else's dime.

>>	Anonymous Tue Feb 25 00:11:48 2014 No.132648 NOOOOOOOOOOOOOOOOOOO

>>	Anonymous Tue Feb 25 00:12:17 2014 No.132652 >>132648 what 'appen 'ere'?

i sell cheap gamma !!fcM6uMlEawK Tue Feb 25 00:14:18 2014 No.132665

>>132554

>You ride fixed?

No, way too many hills where I live.

my bike, it's banged up though cause I got hit by a car riding it awhile back.

http://www.bicyclebluebook.com/searchlistingdetail.aspx?id=10634

>>132641

>Same. Getting close to my buy point already.

Cheap can get a whole lot cheaper.

>>	Anonymous Tue Feb 25 00:14:19 2014 No.132664 >>132538 I dunno about that. I put two $5 federal reserve notes in my pocket this morning around 8:00. It's now 11:15 at night and ... oh hey look! They're still there!

>>	Anonymous Tue Feb 25 00:14:47 2014 No.132662 How many bitcoins did you lose today?

>>	Anonymous Tue Feb 25 00:15:47 2014 No.132668 >>132379 I would rather support a money that is regulated by the forces of every person that uses it than the monopoly war bucks that you support.

>>	Anonymous Tue Feb 25 00:16:47 2014 No.132672 File: 26 KB, 300x230, Haha.jpg [View same] [iqdb] [saucenao] [google] >>132642 Oh SA.

>>	Anonymous Tue Feb 25 00:17:17 2014 No.132673 But mtgox has everyone's private information. It seems like they'd know exactly who fucked them over.

>>	Anonymous Tue Feb 25 00:18:48 2014 No.132677 File: 10 KB, 480x360, 1392405414958.jpg [View same] [iqdb] [saucenao] [google] https://bitcointalk.org/index.php?topic=485924.0 wolong is an angel compared to the mt.gox owners.

>>	Anonymous Tue Feb 25 00:19:17 2014 No.132683 So what does this mean for the future of Bitcoin?

>>	Anonymous Tue Feb 25 00:19:47 2014 No.132680 >>132664 #rekt

>>	Anonymous Tue Feb 25 00:20:17 2014 No.132685 can someone explain to me how this guy has scammed everyone and run off with the money? say he has 750K in BTC .. how does he convert that to real life cash money, so he can go in to hiding?

>>	Anonymous Tue Feb 25 00:21:17 2014 No.132690 >>132677 (Read 120 times) wonder how much traffic came from /biz/ lurkers

>>	Anonymous Tue Feb 25 00:21:48 2014 No.132691 >>132683 its uncertain, highly volatile, unregulated and makes little sense when thought about logically. so nothing new.

>>	PCpcS2Bc2HZdMc5sQ1QK8EcBgXoo1d(...) Tue Feb 25 00:21:48 2014 No.132693 >>132685 he could buy gold with it

>>	Anonymous Tue Feb 25 00:22:48 2014 No.132694 >>132385 >>132385 >>132385 NOW IN ORANGE >>>/g/40506073 >>>/g/40506073 >>>/g/40506073

>>	Anonymous Tue Feb 25 00:22:48 2014 No.132695 >>132635 lel

>>	Anonymous Tue Feb 25 00:22:48 2014 No.132696 >>132685 >>132693 wanst part of the point of bitcoins that you could trace them? they are all unique.

>>	Anonymous Tue Feb 25 00:22:48 2014 No.132697 >>132353 It is finished.

>>	Anonymous Tue Feb 25 00:23:47 2014 No.132699 >>132443 Where do you get such data? Mine is better. http://www.cryptocoincharts.info/v2/markets/info

>>	PCpcS2Bc2HZdMc5sQ1QK8EcBgXoo1d(...) Tue Feb 25 00:24:47 2014 No.132701 >>132696 yeah but you could always buy gold from somewhere like china the gooks could care less whos giving them money

Anonymous Tue Feb 25 00:26:17 2014 No.132709

>>132683
Nothing. Everyone knew something like this would happen eventually. And now even more people are going to be looking to buy. So nothing is going to happen really. FED types will point at this and say "Ha! I told you Buttcoins were bad!", without realizing that the FED has done 10 times worse than this shit on a nearly generational basis--with everyone's money. So just wait. Bitcoins aren't going anywhere.

>>	Anonymous Tue Feb 25 00:26:48 2014 No.132707 >>132561 >Guy's gonna have to live in a panic room for the rest of his days though He will answer the phone with HOW DID YOU GET THIS NUMBER!?!? until he dies

Anonymous Tue Feb 25 00:28:17 2014 No.132717

>>132685
He doesn't have 750K BTC. His business lost 750K BTC from its customers due to how they tracked transactions on their site.

Basically someone discovered they could perform double withdrawals due to Gox's incompetence and eventually leaked their funds until they became insolvent. By the time Gox noticed the flaw it was already too late.

Now they are in a massive hole and can't payout their customers who wish to take out money or BTC because they don't have them.

>>	Anonymous Tue Feb 25 00:29:48 2014 No.132722 >>132717 so why not just declare bankruptcy? why is he hiding from everyone?

>>	Anonymous Tue Feb 25 00:30:18 2014 No.132723 >>132377 Fucking beautiful.

>>	Anonymous Tue Feb 25 00:30:18 2014 No.132725 >>132722 he's afraid some of the depositors will pursue "extralegal justice"

>>	Anonymous Tue Feb 25 00:30:18 2014 No.132726 >>132717 >someone discovered they could perform double withdrawals due to Gox's incompetence can i get a source for this? ive never heard that happened. not that i dont believe you, just want to read more

>>	Anonymous Tue Feb 25 00:30:18 2014 No.132727 >>132722 A lot of people just lost a lot of money. He would want to hide while he deals with this in private legal courts.

>>	Anonymous Tue Feb 25 00:31:17 2014 No.132736 HOW THE FUCK DO I GET CASH INTO AN EXCHANGE WITHOUT GOING THROUGH SHADY RUSSIAN OR MONEY ORDER DEALS? I NEED TO BE READY TO BUY SHITCOINS AT PENNIES ON THE DOLLAR

>>	Anonymous Tue Feb 25 00:31:48 2014 No.132730 File: 131 KB, 816x640, BhSZ3fcCQAE09fB.png-l.png [View same] [iqdb] [saucenao] [google] This is the table that was redacted in the leaked pdf.

>>	Anonymous Tue Feb 25 00:31:48 2014 No.132731 lol Bernie Madoff with my money

Anonymous Tue Feb 25 00:32:17 2014 No.132737
File: 2 KB, 125x86, DORGAN.jpg [View same] [iqdb] [saucenao] [google]

You know why there isn't such a thing as widely used private currency /biz/? Sovereignty. Sovereignty allows governments to protect their populace and their machinations through force.

If someone tries to fuck up a state's currency, or steal it, or manipulate it beyond an acceptable level, that state can use the rule of law to punish those accountable and prevent such activity to happen again. If another state tries to usurp a state's currency, it can declare war and do whatever is necessary to protect the security and value of their own currency.

Businesses aren't sovereign. They can have all the wealth in the world, but ultimately their wealth is only possible due to the security of value offered by their or other state's currency. If they try to use their own currency but have no sovereignty or power to protect it, it will hold no true value.

This is why you shouldn't use cryptocurrency, because companies like Mt. Gox can't protect the value of the currency they trade in. It is the most nominal means of exchange imaginable, truly monopoly money. So unless dogecoin has some Abrams tanks to blow eleet hackorz scaming their currency the fuck out, invest in something real. Like Zinc or something.

>>	Anonymous Tue Feb 25 00:32:17 2014 No.132738 >>132730 >income statement >no balance sheet hahahahahahaha oh wow

>>	Anonymous Tue Feb 25 00:34:18 2014 No.132743 >>132726 Look up transaction malleability for more http://finance.fortune.cnn.com/2014/02/21/bitcoin-transaction-malleability/

Anonymous Tue Feb 25 00:34:18 2014 No.132744

>>132545
Mt. Gox was the first ever bitcoin exchange. It became the de facto pricing index used by all of the media simply for that reason. No saavy bitcoiners had any money in there since 2012.

>>132549
Price already stabilizing. Cryptpo doesn't run much in 9-5 patterns. The slightest rumor of possible news gets around in minutes, especially anything regarding Gox at the moment since they are failing.

>>	Anonymous Tue Feb 25 00:34:18 2014 No.132746 >>132725 >>132727 i'd have thought that, with the internet, knowledge of this double withdrawals scam would spread like wildfire? how the fuck was it the largest trading platform - something sounds misplaced.

>>	Anonymous Tue Feb 25 00:34:48 2014 No.132748 >>132737 This times a thousand. This seconding motion is coming from somebody working on a venture involving bitcoins. As they come in, I am IMMEDIATELY cashing out.

>>	PCpcS2Bc2HZdMc5sQ1QK8EcBgXoo1d(...) Tue Feb 25 00:34:48 2014 No.132749 >>132736 shill out you kike just go to btce

Anonymous Tue Feb 25 00:34:48 2014 No.132750

>>132707
You don't know the psychology of fraud victims, most pretty much never advanced from denial stage.
>i'm sure he's a nice guy. As long as he's still involved, there's still a chance he'll give us back our money.
That is what most fraud and scam victims' thought, not just this case only.

>>	Anonymous Tue Feb 25 00:35:17 2014 No.132760 >>132554 Whoa, are you that pretty boy who rides around the UW with a big chain on your shoulder? Every time I see you it just reminds me how great your life is right now and shitty it will be in ten years time.

>>	Anonymous Tue Feb 25 00:35:48 2014 No.132755 File: 23 KB, 125x133, anime wins yet again.png [View same] [iqdb] [saucenao] [google] Good thing i bought 30,000$ worth of Neptunes Cashing Out Right Now At 900$/Bitcoin Feels Fucking Good

>>	Anonymous Tue Feb 25 00:35:48 2014 No.132757 >>132746 nothing is as it seems in bitcoin. you can never be too paranoid. don't assume the representatives of the organizations are who they are.

>>	Anonymous Tue Feb 25 00:35:48 2014 No.132758 >>132731 lol more like EMPTY Gox amirite?

>>	Anonymous Tue Feb 25 00:35:48 2014 No.132759 can someone give me a tl;dr?

>>	Anonymous Tue Feb 25 00:36:47 2014 No.132761 File: 647 KB, 1013x825, 1393131160917.jpg [View same] [iqdb] [saucenao] [google] >>132583 BTC is kill

>>	Anonymous Tue Feb 25 00:36:47 2014 No.132762 >>132748 >a venture involving bitcoins funding the Akron Buyers Club? >>132737 >unless dogecoin has some Abrams tanks Can't be any harder than sending island coons to Sochi

>>	Anonymous Tue Feb 25 00:36:47 2014 No.132763 >750,000 stolen coins [citation needed]

>>	Anonymous Tue Feb 25 00:37:17 2014 No.132767 >>132763 nobody knows for sure how much, we're all going off the scribd doc. the interesting thing is the doc predicted them halting trading and buying gox.com

>>	Anonymous Tue Feb 25 00:38:17 2014 No.132769 File: 42 KB, 938x425, sarahbittcoin.png [View same] [iqdb] [saucenao] [google] toppest of keks

>>	Anonymous Tue Feb 25 00:38:17 2014 No.132773 OH WOW THIS IS SUCH BAD NEWS. THOSE PEOPLE WILL NEVER GET THEIR MONEY. IF ONLY THERE HAD BEEN REGULATION IN PLACE TO PREVENT SOMETHING LIKE THIS...

hey statistfags Anonymous Tue Feb 25 00:38:47 2014 No.132771
File: 19 KB, 512x512, 1393306702300.png [View same] [iqdb] [saucenao] [google]

Look at TF2 jews, they've used magical meaningless unregulated digital items as currency for years with practically no problems.

these worked because of the limited quantity and the digital convenience

>>	Anonymous Tue Feb 25 00:39:17 2014 No.132776 >>132771 except valve can print as many headphones and keys as they want. that's not possible with bitcoin.

>>	Anonymous Tue Feb 25 00:39:18 2014 No.132780 File: 72 KB, 267x186, 13913043056762.png [View same] [iqdb] [saucenao] [google] >>132769

>>	Anonymous Tue Feb 25 00:39:48 2014 No.132777 >>132769 explain who she is so i can enjoy the full keks plz

Anonymous Tue Feb 25 00:39:48 2014 No.132778

>>132527

Why not use http://coinbase.com ? Get it verified, do a purchase (of any size), wait a month, $1,000/week of instant buying power. In the interim, $100/week of instant buying power. These aren't really high limits, but most people around here probably don't spend $1,000/week on BTC. You'll typically wait 30 minutes for it to transfer to another exchange (I use Bitfinex). So, there's a bit of slippage possible.

>>	Anonymous Tue Feb 25 00:40:18 2014 No.132781 >>132767 >>132763 >beleiving fake FUD documents loving every lel

>>	Anonymous Tue Feb 25 00:40:18 2014 No.132782 File: 36 KB, 569x447, 1351805725976.jpg [View same] [iqdb] [saucenao] [google] >55 MILLION DOLLARS IN BUTTCOINS MISSING ITS FUCKIGN OGRE MAN

>>	Anonymous Tue Feb 25 00:40:18 2014 No.132783 >>132760 Hmmm depends what you mean by UW. What makes you say that anyway, why does that guy give off that impression?

Anonymous Tue Feb 25 00:40:48 2014 No.132785

>>132759
I didn't read it either but basically Gox lost 750k BTC, they say sorry man, send me money and I will pay my customers back, Bitcoin is supposed to be doomed now, because so many people lost money, it hurts the economy

I think its bad times, but not doomed

>>	Anonymous Tue Feb 25 00:42:17 2014 No.132790 Meanwhile I made a cool 750 bucks today off my stake in Tesla. Invest in a company that makes something. Works for me.

>>	Anonymous Tue Feb 25 00:42:17 2014 No.132791 >>132769 context motherfucker. do you have it? >>132761 'no'

>>	Anonymous Tue Feb 25 00:42:17 2014 No.132792 >>132385 >>132672 >>132642 >>132630 this SA got burned fucking hard they deserved it too

>>	Anonymous Tue Feb 25 00:42:17 2014 No.132802 >>132790 you didn't really make the money until you sell the stock. You also have to account for inflation wile you were waiting

>>	Anonymous Tue Feb 25 00:42:17 2014 No.132803 >>132771 >unregulated Valve is the government or regulators in TF2. They can shower you with copies of digital items or declare that your shit is duped and erased it without your consent. That's the digital world's equivalent of Abram tanks.

>>	Anonymous Tue Feb 25 00:42:48 2014 No.132797 File: 160 KB, 599x602, 1384132550902.png [View same] [iqdb] [saucenao] [google] Apology for poor english Where were you when bitcoin dies? I was at home sat on couch when Mark Karpele ring "Mt gox is kill" "No" and you?

>>	Anonymous Tue Feb 25 00:42:48 2014 No.132798 >>132664 yeah, and they are worth less money now. In fact, they will never go up in value no matter what. Sounds good, right?

>>	Anonymous Tue Feb 25 00:42:48 2014 No.132799 >>132737 >it will hold no true value. False. Bitcoins ability to be worth even $100 proves you wrong.

Anonymous Tue Feb 25 00:43:17 2014 No.132804
File: 198 KB, 550x413, 1393306980162.png [View same] [iqdb] [saucenao] [google]

Holy shit, Just how deluded are these retards?

People are buying Bitcoins at the moment, even though media is going to fucking kill it in the coming days. Especially if Gox really doesn't have any money.

They don't seem to realize that if general public is scared away, there's going to be no new money coming into this game.
Also they seem to think that people who lost money @ Gox are just going to have to buy new coins.
Fucking hell..

It's like talking to a religious zealot and trying to get him to realize that earth isn't 6000 years old.

Fuck these prices, BTC needs to come down to a reasonable level and grow from there, slow and steady.

Anonymous Tue Feb 25 00:43:18 2014 No.132808

>>132683

short term? fearfags dumping due to fear 'zomg we goin to 0 nigz' FUD

medium term? bounce back to 1k just like after silk road scandal and china crackdown

long term? moon landing

The repurcussions of Gox are laughable at best. Anyone with a shred of common sense already knew this was coming. The panic sell will be short and sweet, and epic buying opportunity for aforementioned lunar colonization.

>>	Anonymous Tue Feb 25 00:43:48 2014 No.132806 File: 737 KB, 499x281, mfw.gif [View same] [iqdb] [saucenao] [google] >>132353 >mfw >my fucking face >oh god the delicious tears >i can almost taste them

>>	Anonymous Tue Feb 25 00:44:18 2014 No.132809 >>132760 Sounds like this guy is great looking and you're a fat ugly jealous NEET. Does he go out with the girl you have a crush on?

>>	Anonymous Tue Feb 25 00:44:18 2014 No.132810 File: 87 KB, 346x407, Shinji2.jpg [View same] [iqdb] [saucenao] [google] >literally unsourced scribd document, aka /b/ tier ""information"" >people believe it

>>	Anonymous Tue Feb 25 00:44:48 2014 No.132811 >>132353 May you rest in peace, Bit Coin. Glad to be a part of history. It's been an honor to watch everyone who invested in Bit Coin sink with their ship as we toast from the coast.

>>	Anonymous Tue Feb 25 00:45:47 2014 No.132817 >>132589 >mfw Doge get's shit on and so do all cryptocoins, because they're shit. Hahaha, It's gonna be a bright, bright bright bright sunshiny day!

>>	Anonymous Tue Feb 25 00:46:17 2014 No.132820 File: 415 KB, 680x475, 16.png [View same] [iqdb] [saucenao] [google] how many coins did you lose?

>>	Anonymous Tue Feb 25 00:46:17 2014 No.132821 >>132513 Reminder this is an SA Meme.

>>	Anonymous Tue Feb 25 00:46:17 2014 No.132828 >>132808 keep dreamin' bitch nigga

Anonymous Tue Feb 25 00:46:47 2014 No.132823
File: 186 KB, 457x303, impressive.png [View same] [iqdb] [saucenao] [google]

>>132353
>http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
>Moving to a new country (Singapore?) could be helpful.

Oh fuck my sides weren't ready for that

Anonymous Tue Feb 25 00:46:47 2014 No.132825

>Typically, cold wallets are disconnected from any type of internet connection and cannot be emptied by online attackers. However, the “cold storage has been wiped out due to a leak in the hot wallet,” the document states.

You all just got inside jobbed.

>>	Anonymous Tue Feb 25 00:46:47 2014 No.132826 >>132785 So really, a ton of people lost a ton of bitcoins, about 750k BTC in total? Damn..

Anonymous Tue Feb 25 00:46:47 2014 No.132827

>>132804

the media isn't really going notice because the people that lose money on gox are degenerate gamblers

I'm not saying that is why they are or that that is not what I am, I am saying that ultimately the consensus won't be able to form any other conclusion

It's not like Mt Gox had a good reputation it was just a fun place to gamble

>>	Anonymous Tue Feb 25 00:47:47 2014 No.132831 >>132827 mtgox even lost the degenerate momo gamblers in the past couple months. they all moved to bitfinex

Anonymous Tue Feb 25 00:48:17 2014 No.132832

>>132802

>one month's worth of inflation

lel

also am I the only one who sees potential for a huge gambit here?

look:

MtGox or whatever it's called declares insolvency due to a large number of coins 'missing' out of its reserves. The missing coins currently have a sizable value because the price of Bitcoin is high.

But due to the collapse of MtGox, confidence in Bitcoin plummets, driving the value into the ground.

The owner or whoever of MtGox then injects actual liquidity into his company to repurchase coins at a much lower price point from other holders, and subsequently returns them to their owners for a fraction of their current value, effectively blocking extra-legal action and erasing his liability-sheet

and fuck am I stoned right now

>>	Anonymous Tue Feb 25 00:48:18 2014 No.132840 MODS, PLEASE MAKE BOARD THEME WHILE WE WATCH THE SPIRAL DOWNWARDS http://www.youtube.com/watch?v=XVekJTmtwqM

>>	Anonymous Tue Feb 25 00:48:48 2014 No.132835 >>132737 Gold. Your argument destroyed in a single morpheme.

>>	Anonymous Tue Feb 25 00:48:48 2014 No.132836 >>132826 that's the rumor, remember the wall street adage, buy the rumor, sell the news. It will probably turn out to be a lot rosier than this

Anonymous Tue Feb 25 00:48:48 2014 No.132838

>>132798
>they will never go up in value no matter what
Yeah, and crypto's doin' great.

I can take my 2 $5 federal reserve notes and hop down to the corner store and buy a pack of smokes and a pint of vodka.

What can you do with your crypto currency with such convenience?

>>	Anonymous Tue Feb 25 00:49:18 2014 No.132846 >>132737 Who "protects" the value of gold? checkmate.jpg inb4 muh real objects

>>	Anonymous Tue Feb 25 00:50:17 2014 No.132854 >>132630 The creator is associated with SomethingAwful and Reddit SRS. I don't have the documentation on me right now, but at some point I screencapped them talking about it on SRS.

>>	Anonymous Tue Feb 25 00:50:18 2014 No.132847 >>132709 >Crashing atm I might invest like 50$ at the low point

>>	Anonymous Tue Feb 25 00:50:47 2014 No.132850 >>132498 >It doesn't change the fact that crypto/bitcoin is a revolutionary technology. So was Betamax.

Anonymous Tue Feb 25 00:50:47 2014 No.132851 [DELETED]

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>>	Anonymous Tue Feb 25 00:50:47 2014 No.132852 >>132737 I'd rather have chaos in control than people. It's more fair. >le edgy joker speech

>>	Anonymous Tue Feb 25 00:51:47 2014 No.132859 File: 34 KB, 545x365, barings.jpg [View same] [iqdb] [saucenao] [google] >>132823 yea cos singapore look after people who make banks fold 10 points to anyone who gets this image

>>	Anonymous Tue Feb 25 00:51:47 2014 No.132860 >>132850 Pleb consumers went to VHS. Industry professionals stuck with Beta.

>>	Anonymous Tue Feb 25 00:51:47 2014 No.132861 >>132485 >Doge fags are still acting smug when they know their hobby is going to shit At least now I can buy a fucking graphics card for, you know, graphics.

>>	Anonymous Tue Feb 25 00:52:17 2014 No.132863 http://www.youtube.com/watch?v=v6ziKuWe5BE&feature=kp

Anonymous Tue Feb 25 00:53:18 2014 No.132868

>>132854
It's incredibly obvious to anyone who isn't retarded and has spent 5 minutes on the internet following any of these communities

SRS/SA are bitter as fuck because they were laughing at 'dumb libertarians' who bought bitcoin at 0.10$, at 2$, at 100$, at 262$, etc ;^)

>>	Anonymous Tue Feb 25 00:53:18 2014 No.132873 >>132416 >exchange != currency That's okay because bitcoin != currency either.

>>	Anonymous Tue Feb 25 00:53:48 2014 No.132869 I'm laughing at all you pathetic fucks who actually invest in this crypto non-sense. You got what you deserve.

Anonymous Tue Feb 25 00:53:48 2014 No.132870

>>132861
you're going to be able to buy a graphics card real soon for crazy cheap, but not because of the price of coins going down -- they're still highly profitable to mine.

when high-end nvidia maxlel cards come out, all the scrypt miners will be switching over due to their efficiency.

>>	Anonymous Tue Feb 25 00:53:48 2014 No.132871 > <+Lasseter> All the staff were fired today. They probably just switched off the servers on the way out.

>>	Anonymous Tue Feb 25 00:54:18 2014 No.132876 >>132737 you do realize there will be decentralized exchanges, rite? make sure to pay attention don;t want to see you peasant out on us in old age

Anonymous Tue Feb 25 00:54:18 2014 No.132878
File: 205 KB, 640x480, 1392163101520.jpg [View same] [iqdb] [saucenao] [google]

>>132827

It's irrelevant where it happened. Gox,Stamp,Btc-e whatever.
Media has been calling BTC a ponzi scheme for quite some time and now.
If "the largest no.1 exchange" goes under and basically takes the money and runs, they are going to have a fucking field day with this.
It's going to confirm every negative statement they have given so far.

Also normal people who aren't into BTC have changed their views about it during the last year.
I've talked with quite a few and they went from "Well that's interesting" to "Well it's just going to crash and it's unstable as hell, not going to buy it. You'll just lose your money!"

That to me is a sign that people are being scared away from it and this sure as hell isn't making things any better.

>>132851

Nice way to write that you dickhole, but I agree.

The price was manipulated to those crazy unsustainable heights, and it's going to fall to nothing, or at least to what others consider nothing.
I still think that + 300$ BTC is pretty damn good for something you can barely even use.

>>	Anonymous Tue Feb 25 00:54:48 2014 No.132874 >>132810 except mt goyim followed their predictions a literal tee within a half an hour of the document being leaked

Anonymous Tue Feb 25 00:54:48 2014 No.132875

>>132799
I don't think you understand. What guarantees that value, exactly? What ensures that cryptocurrency will maintain a value period? It has no intrinsic value, so its nominal like fiat money. But unlike fiat money, its not backed by a government that can physically, forcefully ensure its value is enforced. Its value is only guaranteed by the legitimacy and security of the few exchanges that trade in it, which we learned tonight is worth shit.

>>	Anonymous Tue Feb 25 00:55:47 2014 No.132881 File: 90 KB, 1620x683, Capture.png [View same] [iqdb] [saucenao] [google] >>132854 butterfly labs owns it now

Anonymous Tue Feb 25 00:55:47 2014 No.132882
File: 8 KB, 226x397, Ryan.jpg [View same] [iqdb] [saucenao] [google]

It's an unregulated market. Sometimes things go out of business. Sometimes you lose money. This is what happens without nanny state coddling. Frankly I think it's a good thing. Fail fast and fail quick.

>>	Anonymous Tue Feb 25 00:56:17 2014 No.132885 >>132868 Just found the name, the name is Killhamster. https://twitter.com/killhamster

Anonymous Tue Feb 25 00:56:19 2014 No.132888
File: 29 KB, 470x264, Vouch-for-satisfaction.jpg [View same] [iqdb] [saucenao] [google]

>mfw when toasting new bread in 1 month when btc back to 700+, as usual

>grampa /pol/fags revert focus back to throw- rock-at-tank' rally cries against big brother and 'mah oppreshunz'

>>	Anonymous Tue Feb 25 00:56:48 2014 No.132887 >>132832 can anyone with more knowledge tell me if this is a viable idea or not? i feel like i'm missing something

Anonymous Tue Feb 25 00:57:48 2014 No.132892

>>132783
He just pisses me off in the same way lots of people get pissed off by the Winklevoss twins. I just can't stand him, but I actually think the Winklevoss twins are decent people who got shat all over in Mark Schmuckerberg's movie that was actually just a stupid commercial.

>>	Anonymous Tue Feb 25 00:57:48 2014 No.132894 >>132777 This pls.

Anonymous Tue Feb 25 00:58:18 2014 No.132895
File: 463 KB, 245x141, what-i-expected.gif [View same] [iqdb] [saucenao] [google]

Anyone who didn't buy KNC Neptunes with the "Refund given in USD At the BTC You Buy In/Lock In At" Is A Complete Retard

What did you expect faggots? Did you seriously think bitcoin over 1$ wasn't a complete scam driven by muh gox?

NEWSFLASH: GOX WAS ALWAYS THE SECRET ONE PUMPING THE PRICE, WITHOUT THEM, THERE IS NO BITCOIN.

>>	Anonymous Tue Feb 25 00:58:18 2014 No.132902 File: 7 KB, 275x183, hehehe.jpg [View same] [iqdb] [saucenao] [google] >>132835 >>132846 8/10

>>	Anonymous Tue Feb 25 00:58:48 2014 No.132899 >>132892 having met the twins at a bitcoin conference in real life, i have to say they're kind of odd people. they seem nice and well intentioned though.

>>	Anonymous Tue Feb 25 00:58:48 2014 No.132901 >>132875 Nothing "guarantees" that value. That's the point. That's the thing you statists don't understand" there need not be a guarantee of value so long as people have faith it is valuable.

>>	Anonymous Tue Feb 25 00:59:17 2014 No.132908 >>132901 >>132901 >there need not be a guarantee of value so long as people have faith it is valuable. That explains the current, stable situation

>>	Anonymous Tue Feb 25 00:59:48 2014 No.132906 >>132797 You realize that picture implies that the price will not collapse like a bubble, right? So funny when it was posted here last year and everybody was saying we would see it drop to below $200 for sure.

>>	Anonymous Tue Feb 25 01:00:18 2014 No.132913 >>132906 the >it's happening crash stickies were pretty consistent indicators of bottoms :^)

Anonymous Tue Feb 25 01:01:48 2014 No.132918

>>132901
I want something more substantial than faith. If faith were enough, I'd accept Jesus and go wander the world in a robe with a Bible.

The federal reserve notes in my pocket have something BTC doesn't: legislation. It is illegal - yes, illegal - for an American business to refuse American currency. They HAVE to take my money even if they think it's worthless. BTC has no such guarantee.

>>	Anonymous Tue Feb 25 01:02:17 2014 No.132920 >>132859 Nick fucking Leeson

>>	Anonymous Tue Feb 25 01:02:17 2014 No.132932 >>132353 top kek So many neckbeards fell for this bullshit. Same thing with dogecoin and all the other coins. Pure ponzi shit.

>>	Anonymous Tue Feb 25 01:02:18 2014 No.132930 And this friends, is why you don't store your money in a supposedly secure online wallet. Seriously, Bitcoin is a fucking flawed concept. (I know this is about the exchange, but the currency itself is just batshit insane)

Anonymous Tue Feb 25 01:02:47 2014 No.132929

>>132875
the value is the network itself, a simple public ledger

When you buy a bitcoin you are paying to host and secure the network. Do you really expect people to do that service for you for free? Why?

To answer your question, there is nothing "backing" the currency. But their is nothing "backing" the gold price either, people pay just whatever they are willing to pay for it.

I am a goldbug, and a little bewildered by bitcoin, but after taking a step back denying that bitcoin is money right now in 2014 is a serious denial issue.

>>	Anonymous Tue Feb 25 01:02:48 2014 No.132925 aww shit my /biz/antynes, opportunity knocks for those of us who missed the train the first time when should I buy in goyim?

>>	Anonymous Tue Feb 25 01:02:48 2014 No.132926 >>132809 No, I saw him talking to a 5/10 the other day. Only seen him maybe three times in my laugh while he is riding his bike.

>>	Anonymous Tue Feb 25 01:02:48 2014 No.132927 >>132887 hmm no seems plausible

>>	Anonymous Tue Feb 25 01:02:48 2014 No.132928 >>132918 >what is inflation load of good that currency does you xD too bad the state doesn't mandate prices too ;^)

>>	Anonymous Tue Feb 25 01:03:47 2014 No.132935 >>132925 localbitcoins

>>	Anonymous Tue Feb 25 01:04:18 2014 No.132936 >>132895 how? i'd have thought the price went up when more establishments started accepting them as payment

>>	Anonymous Tue Feb 25 01:04:47 2014 No.132941 $1000 coins by Friday, you heard it here first!

>>	Sigrid The Whale Slayer !o7IoaYt5UM Tue Feb 25 01:05:47 2014 No.132944 >>132941 Ur gun get fukt

>>	Anonymous Tue Feb 25 01:06:17 2014 No.132952 >>132920 You get 10 points sir!

>>	Anonymous Tue Feb 25 01:06:48 2014 No.132954 >>132928 I'd take a highly inflated dollar vs. a worthless bitcoin any day. At least I can exchange the inflated dollar for goods and services. All I can exchange BTC for is ... well ... more BTC.

Anonymous Tue Feb 25 01:06:48 2014 No.132955
File: 139 KB, 1600x922, happening.jpg [View same] [iqdb] [saucenao] [google]

[happening intensifies]

>2:20 PM Tokyo

News of Mt Gox insolvency hit a boiling point
BITCOIN PLUMMETS TO 485.55

>5:15 AM London

Mt Gox Crisis strategy draft hits 44,000 views
Early birds from London wake to hear the news and SELL
BITCOIN hits a new record LOW of 466.01

>1:06 AM, New York

Panic spreads to NY hour past midnight, alarm bells ring, everyone tries to get out before the nation wakes to hear the horror

>>	Anonymous Tue Feb 25 01:07:18 2014 No.132958 >>132955 Wait, how can it be a record low when the coin began last year at less than twenty bucks?

>>	Anonymous Tue Feb 25 01:07:18 2014 No.132965 >>132958 Record low for 2014.

Anonymous Tue Feb 25 01:07:48 2014 No.132959

>>132887

that is basically the same basic theme that has been reguiritated about the last month

basically my take is that, far from being and evil mastermind, most likely Gox got hacked, hopefully not as bad as everyone thinks

your theory does require all the market participants being played like fools, not impossible, but to me its unlikely

>>	Anonymous Tue Feb 25 01:07:48 2014 No.132961 Mt. Goy is dead >On 24 February 2014, Mt. Gox's website and Twitter feed were deleted, and internal documents leaked to media reveal that nearly 750,000 bitcoins worth $350 million have been stolen or misappropriated from the exchange lel

Anonymous Tue Feb 25 01:08:17 2014 No.132972

>>132929
No. At the end of the day Gold is still a material, useful in manufacturing processes, with chemical stability and rare.

Bitcoin is a manufactured concept. Altcoins are fucking worse, as there's nothing stopping me or tits mcgee or Kanye from making a shitcoin.

I think gold is stupid, as a hedge, as a physical "lookee", and as an "investment". At the end of the day though, it fucking actually can be used for something useful.

>>	Anonymous Tue Feb 25 01:08:47 2014 No.132967 WHY DID ANYONE TRUST MARK KIKEPELES IN THE FIRST PLACE! ONCE AGAIN, SOMETHING BEAUTIFUL WAS DESTROYED BY THE GREED OF A FUCKING JEW!

>>	Anonymous Tue Feb 25 01:08:47 2014 No.132968 Black Monday Nevar4Get

Anonymous Tue Feb 25 01:09:17 2014 No.132975
File: 72 KB, 362x332, 1364088099093.jpg [View same] [iqdb] [saucenao] [google]

This coin isn't sustainable because if you lose your private key those coins go out of circulation forever.

Watch out for the first currency to use your genetic code as a key. It's going to happen.

>>	Anonymous Tue Feb 25 01:09:47 2014 No.132976 >>132959 And deleted their twitter? Nice try Schlomo

>>	Anonymous Tue Feb 25 01:09:47 2014 No.132978 File: 1.78 MB, 320x237, toomuch.gif [View same] [iqdb] [saucenao] [google] >>132952 Thanks bro

>>	Anonymous Tue Feb 25 01:10:17 2014 No.132981 >>132975 >i have no idea what i'm talking about so someone can steal your money when they get a piece of your hair?

>>	Anonymous Tue Feb 25 01:10:17 2014 No.132982 >>132959 apparently the DHS is involved as well http://buttcoin.org/this-is-how-royally-screwed-mt-gox-is-right-now

>>	Anonymous Tue Feb 25 01:10:18 2014 No.132990 >>132965 Then that's a shitty measure of a record.

>>	Anonymous Tue Feb 25 01:10:48 2014 No.132987 >>132353 the redacted slide http://imgur.com/r/Bitcoin/8YbVJTc

>>	Anonymous Tue Feb 25 01:11:18 2014 No.132993 >>132955 >Margin Call My nigga with good taste

>>	Anonymous Tue Feb 25 01:11:18 2014 No.132997 >>132978 NP. I read his book while on holiday in Turkey last summer.

>>	Anonymous Tue Feb 25 01:11:48 2014 No.132995 >>132838 I actually just sent over two grand to a friend who lived thousands of miles away. It was the fastest and easiest money transfer I have ever done by far. Will never use any other service for that from now on.

>>	Anonymous Tue Feb 25 01:12:17 2014 No.133000 >>132995 Can do the same shit with PayPal.

>>	Anonymous Tue Feb 25 01:12:17 2014 No.133004 >>132975 W-what would be the purpose of that? There's no reason for that to come about.

>>	Willdoge4food !!CJglC0GklPB Tue Feb 25 01:13:48 2014 No.133007 >>132976 Did you not check their twitter?

>>	Anonymous Tue Feb 25 01:13:48 2014 No.133009 File: 63 KB, 357x305, ca1517.png [View same] [iqdb] [saucenao] [google] with all these missing coins, will the price of the remaining ones rise?

>>	Anonymous Tue Feb 25 01:14:17 2014 No.133010 >>132995 That's because you don't live in England. Blame our banks for that one. http://www.npr.org/blogs/money/2013/10/04/229224964/episode-489-the-invisible-plumbing-of-our-economy

Anonymous Tue Feb 25 01:14:17 2014 No.133012

>>132804
>Holy shit, Just how deluded are these retards?

I've never paid attention to the shitcoins, but I've watched pump&dumps on stock message boards before. There's always someone, usually the big swinging dick that's LONG & STRONG BABY, who keeps beating the drum while quietly cashing out. If it's timed correctly, he's sold his entire position by the time everyone else realizes they've been taken for a ride.

So you're seeing shit about people buying right now, whether they are or not, that's the message that the people holding the bag right now want out there.

Anonymous Tue Feb 25 01:14:17 2014 No.133013

>>132929

Gold has thousands of years of history backing it up.
Also it has some real life uses, in tech and such.

Bitcoin is unsafe as fuck, and there are no laws governing it.
It's backed up by wild retard level speculation and traded by panicky teenagers.
If you fuck up a transaction, it's gone.
If BTC gets stolen or hacked, well tough luck.
It has very little real life adoption and it's also slow as hell, that's if you are going to use it in a store or something.

It isn't a currency, and probably only 1% of people are treating it as such. And most of those guys are "destroy the governments, hang the bankers! People are going to buy BTC when economy collapses. You'll see!!"

Only reason why it has such a fuckhuge following is the get rich quick aspect.
I've been playing with it for a year now and made about 20x profit, but I have very little faith in it.
It can be snuffed out way too easily, also the price atm is downright crazy.
Only reason why we went over 250$ was China, and they said no. Russia said no, and few other shitholes banned it too, and we are still this damn high?
Yeah no.

Unsustainable and uncertain.
This is no real currency, it's a gamble and most people are going to get burned hard.
Mostly the "40k$ this year! To the moon" idiots.

Anonymous Tue Feb 25 01:14:18 2014 No.133016

>>132929
Well, Gold is different because it has real value. It is a precious metal that can be used for electronic components, jewelry, the construction of alloys, etc. This was originally what made the gold standard an attractive means of anchoring the value of a currency, Gold is a good that always the same, and has an inherently high real value; it's pretty useful.

I understand the concept of cryptocurrency and how it supports itself, and your'e right in saying that to disregard it as a form of money is misguided. However, its value and ability to maintain value doesn't appear to be very robust as the network is susceptible to human error on a large scale

>>	Anonymous Tue Feb 25 01:15:48 2014 No.133017 >>132954 you are believing your own BS, there are plenty of things you can buy with bitcoin, and the investment projects like ethereum are so much more interesting than anything I can speculate on with dollars

>>	Anonymous Tue Feb 25 01:15:48 2014 No.133019 450.00 HAPPENING

>>	Anonymous Tue Feb 25 01:16:47 2014 No.133026 >>132958 its five years old dude

>>	Anonymous Tue Feb 25 01:17:18 2014 No.133035 >>133013 >there are no laws governing it. that's not exactly true. a lot of dudes who believed that are in jail now

>>	Anonymous Tue Feb 25 01:17:48 2014 No.133030 >>132941 How many BTC do you have to unload? Be honest.

>>	Anonymous Tue Feb 25 01:17:48 2014 No.133031 File: 74 KB, 1160x493, bitcoin-dead-jun-2011.png [View same] [iqdb] [saucenao] [google] in the last year: >bitcoin goes up 40x. that's 40 TIMES. >gold drops 25% >all the gold bugs gloating in this thread toppest of keks

>>	Anonymous Tue Feb 25 01:17:48 2014 No.133033 Can someone just explain what happened with the 750k of Bitcoin? Mt.Gox stole them or someone else stole them or what?

Anonymous Tue Feb 25 01:18:17 2014 No.133043

>>133009
No you fucking stupid fethwipe. This just proves that everything you thought was bad about cryptocoins is worse. The exchanges are shitty, the transactions to get actual money out dubious, the libertards "muh crypto" don't understand that the government is still watching.

It's fucking going down. There might be some ashes, and some hipsters, but mainstream media will cover this tomorrow with glee, and normal fags will never touch it(plus, it was too much of a pain in the ass for them anyways).

Investor fags discounted it.
Normalfags don't want it.
and soon, even /autists/ will cry about their losses.

>>	Anonymous Tue Feb 25 01:18:47 2014 No.133038 >>133033 http://www.youtube.com/watch?v=fq3abPnEEGE

>>	Anonymous Tue Feb 25 01:18:47 2014 No.133040 >>133016 >gold has value because muh electronics and alloys But That's Wrong IF gold were valued on it's OBJECTIVE ELECTRONIC VALUE it would be less than 1/100th the current price Gold Has Value Because It's A Hedge Against Fiat

>>	Anonymous Tue Feb 25 01:19:17 2014 No.133050 >>133016 Bzzzzzzzzzzzztttttttttttttttttt Wrong Gold Is Less Useful Than Copper. Gold IS NOT VALUED for it's "Usefulness" It's VALUED because it is SCARCE and DIVISIBLE and CANNOT BE FORGED.

Anonymous Tue Feb 25 01:19:17 2014 No.133051

>>133009
That depends entirely on how many people cash out in a complete panic over this. If a metric fuckton of people panic and cash out in the next 24h, Bitcoin is going to crash hard and fast, and everyone buying now thinking they're getting in on a sweet deal are going to be out hundreds or thousands because they assume that what goes down must always come back up, flying completely in the face of logic. Just because Bitcoin is practically backwards of actual currency does not mean its economy is also completely backwards.

If 750,000 coin disappears from the public trade sector of BTC's market, but 2,000,000 shows up over the next 24h being sold off in a panic, that's 1,250,000 coins MORE on the public market than before this collapse, meaning the price per coin is going to get driven down very harshly.

It depends on just how badly people panic in the next 24 hours.

>>	Anonymous Tue Feb 25 01:20:17 2014 No.133053 >>133019 440.1 FMP

>>	Anonymous Tue Feb 25 01:20:47 2014 No.133056 >>132995 >I actually just sent over two grand >I mean 1,999 >1,998 >1,997

>>	Anonymous Tue Feb 25 01:20:47 2014 No.133058 http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

>>	Anonymous Tue Feb 25 01:21:18 2014 No.133063 >>133038 >SA memes out in full force Wow, what are the odds if i check GBS right now they're directing people to 4chan? Pretty damn high seeing as their games forum was invading /vg/ over TwitchPlaysPokemon Goons seem pretty butthurt recently.

>>	Anonymous Tue Feb 25 01:21:18 2014 No.133068 The only thing that could make this whole thing better is if Mark was assassinated by a guy who accepted his payment in bitcoin. It'd be fucking poetic. It'd be fucking Tarantino level poetic. My sides would never return.

>>	Anonymous Tue Feb 25 01:22:18 2014 No.133071 >>132972 >not finding the bitcoin network useful >not finding it more useful than gold, when you admit you don't even like gold >k

>>	Anonymous Tue Feb 25 01:22:18 2014 No.133072 >>133040 I think you mean gold has value OVER AND ABOVE IT'S ACTUAL VALUE(which it -HAS-), due to market sentiment. Gold is not a hedge against fiat. It's not a hedge against inflation

Anonymous Tue Feb 25 01:22:18 2014 No.133073

>>133040
well, its definitely overvalued. Frankly investing in gold like people do is idiotic, and is more than anything a hold back of old financial wisdom that was relevant before we got off the GS. I was trying to make a larger point about real vs nominal value

>>	Anonymous Tue Feb 25 01:22:48 2014 No.133074 File: 54 KB, 400x281, servesyourightyoutrustedajew.jpg [View same] [iqdb] [saucenao] [google] cryptocoin? more like crypokike can the keks even get any topper?

>>	Willdoge4food !!CJglC0GklPB Tue Feb 25 01:22:48 2014 No.133075 >>133043 Why all the fud? You mad bro?

>>	Anonymous Tue Feb 25 01:23:18 2014 No.133079 Wait. They stole $750million? I never knew it got that big.

Anonymous Tue Feb 25 01:23:47 2014 No.133081

>>133031
In the last year:
>0 ounces of gold on the exchanges unaccounted for
>750,000 missing BTC from negligence
>BTC crash from $1,200 to $150 on Mt Gox, and most likely, people "holding" BTC in Gox will get a big cut to their principal balances.
>BTC down 30% in a DAY on REAL exchanges.

Damn, GoxCoins sure were a good investment, you sure showed me!

>>	Anonymous Tue Feb 25 01:23:47 2014 No.133082 >Spending REAL FUCKING MONEY on FAKE COMPUTER DATA NICE GOING FATASSES

>>	Anonymous Tue Feb 25 01:24:17 2014 No.133088 >>133072 >IT'S ACTUAL VALUE top kek statist SRS/Tumblur liberals LOVE to spew this shit >bb--b-but the 'true value' is what *I* AND *PEOPLE LIKE ME* THINK IT'S WORTH NEWS FLASH TRUE VALUE = WHAT THE MARKET PRICE IS

>>	Anonymous Tue Feb 25 01:24:17 2014 No.133089 Question for someone who doesn't know much about cryptocurrencies: Did everyone currently holding Bitcoins from Mt Gox lose all of them?

>>	Anonymous Tue Feb 25 01:24:17 2014 No.133098 >>133089 see>>133058 the debts outweigh the holdings

>>	Anonymous Tue Feb 25 01:24:17 2014 No.133099 >>133081 >i bought gold from glenn beck why did i lose all my monies yeah, no.

Anonymous Tue Feb 25 01:24:17 2014 No.133100
File: 23 KB, 337x372, 1393184636312.jpg [View same] [iqdb] [saucenao] [google]

>>133031

>tfw bought 1 bitcoin earlier today for 573 bernankecoins thinking the same thing
>wont arrive til friday
>it could be worth 10x less by the time it gets to my wallet

>>	Anonymous Tue Feb 25 01:24:47 2014 No.133092 >>133075 meanwhile, xrp toils away silently for this shitstorm to brew over. I give it a year, maybe two at most.

>>	Anonymous Tue Feb 25 01:24:47 2014 No.133093 >>133000 depending on your jurisdiction and if paypal deems your activity to be legitimate

>>	Anonymous Tue Feb 25 01:24:47 2014 No.133094 >>133082 >real money Ahahahahaha

>>	Anonymous Tue Feb 25 01:24:47 2014 No.133095 Tulips didn't disappear when the prices collapsed. But then again they actually have value because they look pretty. Cryptocoins don't even have that going for them.

Anonymous Tue Feb 25 01:25:07 2014 No.133107

>>132925
I would buy right now. The price might go lower, sure, but the upside from here is just insanely high. By this time next year we will all either be laughing at how we got scared for no reason cause Gox or trying to find ways to make money other than bitcoin.

>>	Anonymous Tue Feb 25 01:25:07 2014 No.133108 >this thread so many goons literally from SA salty they couldn't make a profit :^)

>>	Anonymous Tue Feb 25 01:25:17 2014 No.133103 >>133072 >Gold is not a hedge against fiat. It's not a hedge against inflation The Market. Disagrees History. Disagrees Logic. Disagrees.

>>	Anonymous Tue Feb 25 01:26:07 2014 No.133109 >>133089 If you have bitcoins in mt.gox, they're probably gone. If you got them out, good for you.

>>	Anonymous Tue Feb 25 01:27:05 2014 No.133117 Magic The Gathering Online eXchange They magicked away all ur crypto-cyber-libertarian dreams, gathering cash all the while.

>>	Anonymous Tue Feb 25 01:27:35 2014 No.133118 >>133092 XRP is already dead. jed left, the CEO is a complete fucking loon, the only developer left is stefan, their daily trading volume is way lower than shitcoins. even BBQcoin sometimes does more trading volume than ripple.

>>	Anonymous Tue Feb 25 01:28:35 2014 No.133120 Mods need to play this song on loop http://www.youtube.com/watch?v=Fw5acgqIHQE

>>	Anonymous Tue Feb 25 01:28:35 2014 No.133122 File: 67 KB, 720x482, stages_bubble.png [View same] [iqdb] [saucenao] [google] HAHAHAH It's diving below the point of last crash. Die you fucker.

>>	Anonymous Tue Feb 25 01:29:06 2014 No.133126 File: 30 KB, 623x632, Capture.jpg [View same] [iqdb] [saucenao] [google] badumm tshh q darude 439 GET

>>	Anonymous Tue Feb 25 01:29:06 2014 No.133132 Sub-400 soon

Anonymous Tue Feb 25 01:30:35 2014 No.133135

>>132908
Yes, go ahead and explain how some cryptocurrency is worth hundreds of dollars.

>>132918
With currency, faith is your faith. If everyone sees it s valuable, what reason do you have to not make use of it? Businesses denying you with bitcoins is the beauty,not the harm, of the currency. The entire reason it is valuable is because it is free and unregulated.

Anonymous Tue Feb 25 01:31:05 2014 No.133140
File: 7 KB, 283x255, jackyboy.jpg [View same] [iqdb] [saucenao] [google]

>>133010

http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/

redditfags blown the fuck out

people replying with dogecoins and sadface emoticons :( :(

>mfw

Anonymous Tue Feb 25 01:31:52 2014 No.133139
File: 955 KB, 360x360, 1392247184889.gif [View same] [iqdb] [saucenao] [google]

>>133108
Could you imagine how fucking mad you'd be if those 'libertarian nerds' you hate so much literally, factually, objectively tricked you out of making an easy six, or even SEVEN or EIGHT figures of free money by mining in 2010/2011/2012 and selling at peaks?

Could you imagine the sheer fucking hatred, literally passing up and LOSING the chance to be SET. FOR. LIFE. because you got trolled and rused by the people you hate most? the people who DID profit and made more money simply by tricking you

What a horrible fate.

>>	Anonymous Tue Feb 25 01:31:52 2014 No.133142 I tried to withdraw my money in November last year and the fuckers wouldn't give it to me, citing their "bank limits". Now it's all gone.

Anonymous Tue Feb 25 01:31:52 2014 No.133143

>>132353
The purpose of this document is to summarize a joint statement to the Bitcoin community regarding Mt.Gox.
This tragic violation of the trust of users of Mt.Gox was the result of one company’s actions and does not reflect the resilience or value of bitcoin and the digital currency industry. There are hundreds of trustworthy and responsible companies involved in bitcoin. These companies will continue to build the future of money by making bitcoin more secure and easy to use for consumers and merchants. As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today. Mtgox has confirmed its issues in private discussions with other members of the bitcoin community
We are confident, however, that strong Bitcoin companies, led by highly competent teams and backed by credible investors, will continue to thrive, and to fulfill the promise that bitcoin offers as the future of payment in the Internet age.
http://blog.coinbase.com/post/77766809700/joint-statement-regarding-mtgox

Anonymous Tue Feb 25 01:31:52 2014 No.133144

>>133103
http://www.forbes.com/sites/danielfisher/2013/08/08/gold-not-much-of-a-hedge-for-anything-unless-youre-a-centurion/
http://www.cbsnews.com/media/how-to-hedge-against-inflation-hint-forget-gold/

As for Fiat, let's say the entire economic system collapses and you were right. How's that gold going to work out for you when you need water and food? When you have to protect it from others, do you really think someone's gonna give a shit about your gold?

>>	Anonymous Tue Feb 25 01:32:06 2014 No.133152 >>133107 >upside >no talk whatsoever about how deep the downside rabbit hole goes(hint, it rhymes with hero).

Anonymous Tue Feb 25 01:32:06 2014 No.133156

>>133068

Do you think that's a viable business plan? I'm pretty short on cash and would do some hits on a shady businessman for $70K worth of BTC.

Other get-rich-quick schemes I was thinking of, collecting GB's worth of CP then selling them for BTC

What could possibly go wrong?

>>	Anonymous Tue Feb 25 01:32:36 2014 No.133149 >>133142 How much?

Anonymous Tue Feb 25 01:33:05 2014 No.133159

2,300 @ $409 BTC SELL ORDER ON BITFINEX

Are you guys mentally handicapped? It's over. Any upside is due to short sellers covering. Gox buying won't start until it gets in the mid 1's. (Assuming they decide not to screw everyone over)

Realistically, they might look into paying off ASIC manufacturers for a 51% attack. Their only hope is manipulating BTC even further.

$400 and sliding

>>	Anonymous Tue Feb 25 01:33:35 2014 No.133157 >>133144 Good thing i have bullets for that :^).

>>	Anonymous Tue Feb 25 01:33:35 2014 No.133158 >>133120 THIS! PLEASE THIS

>>	Anonymous Tue Feb 25 01:34:05 2014 No.133167 >>133095 Realistically how viable is BTC, when there are a finite number of them? I mean .. can it still be a currency in 10, 20, 50 years? Economistfags help me out here.

>>	Anonymous Tue Feb 25 01:34:35 2014 No.133164 >>133144 How's that BTC going to work out when you need water and food and the internet is out?

>>	Anonymous Tue Feb 25 01:34:35 2014 No.133165 >>133149 Only a couple thousand $, but it's still quite a lot for a university student.

>>	Anonymous Tue Feb 25 01:35:06 2014 No.133177 >>133164 Umm... I don't have any Bitcoin. I'm sorry you wasted that post on me. I'm anti gold, anti bitcoin, pro traditional investments, especially value/dividend stocks.

>>	Anonymous Tue Feb 25 01:35:35 2014 No.133168 >>132870 yeah i was just gonna say at least now maybe a nigga can get a mothafuckin graphics card for a normal price instead of some i need a costco crate of them to run on a pci-e plane. fucking couldn't have died soon enough, shit was bullshit anyway.

>>	Anonymous Tue Feb 25 01:35:35 2014 No.133173 >>133009 Not really. Prices will go down due to the scare. Bitcoins is a currency, not a good. Things work a bit more complexly.

Anonymous Tue Feb 25 01:35:35 2014 No.133174
File: 74 KB, 476x479, exasperated marshmellow.jpg [View same] [iqdb] [saucenao] [google]

So what's the best site to use to buy BTC without a driver's license?

I'd continue using CampBX, but their ACH issues have made their coin price more expensive than the average.

>>	Anonymous Tue Feb 25 01:36:06 2014 No.133178 >>133174 coinbase

>>	Anonymous Tue Feb 25 01:36:06 2014 No.133183 >>133168 only if you want AMD cards. you're not going to be able to buy next-gen nvidia cards. even if coins drop another 4x in value, those cards will still be highly profitable.

>>	Anonymous Tue Feb 25 01:36:06 2014 No.133185 >>133165 That could feed a family for months in 80% of the world.

>>	Anonymous Tue Feb 25 01:36:36 2014 No.133179 H-H-here we go... less than 100 coins to <400

Anonymous Tue Feb 25 01:36:36 2014 No.133180
File: 31 KB, 315x300, uglydudefuckshotchicks.jpg [View same] [iqdb] [saucenao] [google]

>>133056
No, friend got the bitcoins I sent him and immediately bought some computer parts with them on overstock and tigerdirect. It took me about 15 seconds to send and got there in under an hour.

Maybe if you tried it sometime then you might like it, because you are now aware that most people on 4chan have heard of bitcoin but never actually owned any so far.

>>	Anonymous Tue Feb 25 01:36:36 2014 No.133186 >>133167 It could be a currency. But currency doesn't imply a value. It performs the act of currency at 1 penny per BTC.

>>	Anonymous Tue Feb 25 01:37:36 2014 No.133187 As long as it doesn't go below 100 I won't have lost anything

>>	Anonymous Tue Feb 25 01:37:36 2014 No.133189 >>133139 It has to be something. I feel butthurt myself for hearing about it 2 years ago and not researching it as much as I could and start mining.

>>	Anonymous Tue Feb 25 01:38:36 2014 No.133191 >>133139 damn I'm a libertarian nerd but I didn't even pull off getting rich off of bitcoin kudos anyway

>>	Anonymous Tue Feb 25 01:38:36 2014 No.133192 >>133063 yeah pretty pathetic IMO, they can't get their daily required USDA allotment of attention.

>>	Anonymous Tue Feb 25 01:38:36 2014 No.133196 >>133187 you don't lose anything until you sell

>>	Anonymous Tue Feb 25 01:39:06 2014 No.133202 >>133196 >keep telling yourself that.

>>	Anonymous Tue Feb 25 01:39:06 2014 No.133203 >>133196 And if you're never willing to sell, you might as well have lost it already.

>>	Anonymous Tue Feb 25 01:40:05 2014 No.133212 >>133180 And in that hour it took to send/confirm, how far did the price drop? 5%? What a currency. So stable.

>>	Anonymous Tue Feb 25 01:41:05 2014 No.133217 >>133212 you forgot the ™ in Stable™. it indicates you're not from here, a /biz/antine emperor.

>>	Anonymous Tue Feb 25 01:41:35 2014 No.133214 >>133202 >falling for the greatest shakedown of all time ishygddt

>>	Anonymous Tue Feb 25 01:41:36 2014 No.133213 >>133159 I hope it goes to $100 I really do, then I can afford some again, and I pay all my bills on the 1st.

Anonymous Tue Feb 25 01:42:36 2014 No.133220

>>133212
>MUH STABILITY

Literally worth hundreds of dollars. You are wrong, objectively. Its established, its out of state control. Why do you think governments are terrified of this and already moving to ban it? Because they care about their citizens? Hell no, this poses a massive threat to state power.

Anonymous Tue Feb 25 01:43:05 2014 No.133226

>>133214
>value of BTC falls below 100$, and never ever recovers
>holding onto BTC at a cost basis of 100$, "you don't lose money unless you sell"
>never having money

This is going to be rich. Maybe next week instead of next year, /biz/ will be devoted solely to economic arguments and investing. It'll be so fucking nice to not have to deal with cryptocoins.

Satoshi, thank you for creating another chapter in "Bubbles and stupid people."

>>	Anonymous Tue Feb 25 01:45:06 2014 No.133238 >>133226 dream on fuckclown. blockchains are going nowhere.

>>	Anonymous Tue Feb 25 01:45:36 2014 No.133235 >>133220 >Tulips worth more then house >It's established! Tulips are great! >Tulip crash. >It's established! House pricing always goes up! It doesn't tend towards inflation! >Housing crash

>>	Anonymous Tue Feb 25 01:45:36 2014 No.133236 >tell dad to sell buttcoins now, and then buy back in an hour or something >he says no, sticking to his principles and not arbitraging because its too risky (he turned a few BTC into like 400 through various methods) welp

Anonymous Tue Feb 25 01:46:06 2014 No.133244
File: 23 KB, 343x361, 1367531526017.jpg [View same] [iqdb] [saucenao] [google]

Reminder that the Best Invesment Of The Decade you Aren't Allowed To Purchase Or Acquire In Any Way

Remember that it is DENIED To You.

Remember That You Cannot Purchase Ripple, The Cryptocurrency Backed By Google. Backed By Governments. The Replacement to Bitcoin.

Let It Weigh Upon Your Very Soul.

You are NOT PERMITTED to PROFIT from RIPPLE.

You CANNOT PURCHASE RIPPLE. They control EVERY SINGLE COIN and ARE NOT SELLING TO GOY LIKE YOU!

Anonymous Tue Feb 25 01:46:36 2014 No.133240

>>132954

> that moment you finally wake up and realize your worthless fiat can be duplicated with a 200 dollar printing machine and bullion will be mined by africanfags until eternity, while a bitcoin requires tens of thousands in computing equipment and numerous days before you can even attain one.

Simple goyanomics, sheeplestein. Have fun putting your 'faith' into a promisary note which the gubment will continue printing 'til it runs the system to the ground. I'll be just fine with my 24.38 out of twenty some odd million created instanet currency.

lrn2hardcapvs.infinity

>>	Anonymous Tue Feb 25 01:46:36 2014 No.133242 >>133226 top kek when crypto space is about to blow up to the uspisde

Anonymous Tue Feb 25 01:47:36 2014 No.133245

>>133235
>>Tulips worth more then house
>>It's established! Tulips are great!
>>Tulip crash.

We both know comparing tulips to bitcoins is foolish.

>>It's established! House pricing always goes up! It doesn't tend towards inflation!
>>Housing crash

Value of property always increases with time. There is a very limited space available and more people wish to purchase an ever shrinking portion of land. "Housing crashes" are a bump in the road in their rise.

>>	Anonymous Tue Feb 25 01:47:36 2014 No.133246 >>133238 >wasting harddrive space on useless 1's and 0's instead of porn/anime/games/music/tv/video/fucking anything useful

>>	Anonymous Tue Feb 25 01:48:35 2014 No.133253 >>133246 dat strawman lmao good night /biz/

>>	Anonymous Tue Feb 25 01:49:06 2014 No.133261 >>133244 ripple is shit. the creator/founder left. the current ceo is a wackjob. fucking TiPS, a fucking joke coin started to make fun of euphoric redditors does more daily transactions: http://coinmarketcap.com/

>>	Anonymous Tue Feb 25 01:49:06 2014 No.133262 File: 25 KB, 490x310, 1390588936975.jpg [View same] [iqdb] [saucenao] [google] According to http://bitcoinity.org/markets/ Bitcoin hit $400 a few minutes ago.

>>	Anonymous Tue Feb 25 01:50:05 2014 No.133265 >>133261 Backed. By. Google. Son.

>>	Anonymous Tue Feb 25 01:50:35 2014 No.133264 File: 27 KB, 476x139, 1111.jpg [View same] [iqdb] [saucenao] [google] BLAZE IT

>>	Anonymous Tue Feb 25 01:51:36 2014 No.133266 >>133245 >here is a very limited space available you can built up, populations aren't evenly distributed across land masses

>>	Anonymous Tue Feb 25 01:51:36 2014 No.133267 >>133246 >what is electrum >what is multibit

>>	Anonymous Tue Feb 25 01:51:36 2014 No.133268 >>133262 Yeah bought 20 bux worth at 403 or something like that. it's rising again.

Anonymous Tue Feb 25 01:51:36 2014 No.133269

This is LITERALLY Mt. Gox saying "we're too big to fail, bailout plox". Fuck them, let's freemarket this shit and let the chips fall where they may. I don't mind waiting another decade for cryptocurrency to take off, that's nothing in the grand scheme of things.

>>	Anonymous Tue Feb 25 01:52:36 2014 No.133274 File: 90 KB, 1160x381, 1393311128166.png [View same] [iqdb] [saucenao] [google] hnnnnng

>>	Anonymous Tue Feb 25 01:52:36 2014 No.133275 >>133265 they invested because jed was at the helm. jed left. nobody gives a shit about ripple anymore.

>>	Anonymous Tue Feb 25 01:52:36 2014 No.133278 >>133245 http://www.jparsons.net/housingbubble/ http://www.nytimes.com/2013/04/14/business/why-home-prices-change-or-dont.html?_r=0

>>	Anonymous Tue Feb 25 01:53:05 2014 No.133288 File: 256 KB, 1202x636, 1365676500084.png [View same] [iqdb] [saucenao] [google] http://rbt.asia/g/?task=search&ghost=&search_text=%22It%27s+not+a+bubble%22 >But the bitcoin system works

Anonymous Tue Feb 25 01:54:35 2014 No.133289
File: 2.72 MB, 230x173, 1393294952986.gif [View same] [iqdb] [saucenao] [google]

Why the fucking hell are there IDs here?

Is this fucking /b/

inb4

>b-b-but shills :(((((

This Is Literally Reddit Tier

>>133275
>n-no don't invest in this massively undervalued and extremely high potential thing
Cool 2010-2012 Era Bitcoin FUD bro, yeah Ripple is totes mcgoats not the thing to get :^)))))))))))))))))))) le sardonic smiley fais :^)

>>	Anonymous Tue Feb 25 01:55:06 2014 No.133299 L M F A O

Anonymous Tue Feb 25 01:56:06 2014 No.133311

>>133289
ripple has only one key developer left, stefan is far too smart to be bossed around by a fucking sociopathic lunatic for much longer. once he leaves the entire project is fucked. there is literally no one else doing any real work on ripple. that coin is deader than fucking TiPS, even koreaboo stands a better chance than you.

>>	Anonymous Tue Feb 25 01:56:36 2014 No.133305 >>133289 >implying ID's work

>>	Anonymous Tue Feb 25 01:57:06 2014 No.133317 File: 2.24 MB, 2138x1500, clank.png [View same] [iqdb] [saucenao] [google] WHAT THE FUCK I JUST WOKEUP WHAT DOES THIS MEAN SOMEBODY TELL ME STRAIGHT UP >im too lazy to open links

>>	Anonymous Tue Feb 25 01:57:06 2014 No.133318 >>133289 >Why the fucking hell are there IDs here? I agree man, the IDs suck. But moot didn't want to make this board in the first place, so I'll just put up with it.

>>	Anonymous Tue Feb 25 01:57:06 2014 No.133319 >>133311 :^)))))))))))) yup let's listen to 4chan about what crypto to buy nopeeeeeeeee just ignore the man behind the curtain (Google) Investing Millions Into it :^)

>>	Anonymous Tue Feb 25 01:57:36 2014 No.133314 >>133278 So your first source proves my point, and your second one extrapolates to try and show property doesn't increase in as much value as people think. You sure convinced me.

>>	Anonymous Tue Feb 25 01:58:05 2014 No.133328 >>133319 google stopped investing or even going to board meetings when jed left.

>>	Anonymous Tue Feb 25 01:58:36 2014 No.133323 >>133311 Can you explain to me why development is important after the coin launches? What do they... do?

>>	Anonymous Tue Feb 25 01:58:36 2014 No.133326 dump bitcoin, buy doge youre welcome

>>	Anonymous Tue Feb 25 01:59:05 2014 No.133330 File: 164 KB, 853x702, 1391437962452.jpg [View same] [iqdb] [saucenao] [google] anyone else masterbating to this carnage

>>	Anonymous Tue Feb 25 01:59:06 2014 No.133339 >>133317 >im too lazy to open links Then you can lose your money.

>>	Anonymous Tue Feb 25 01:59:35 2014 No.133333 >>133326 >buy into yet another pump and dump scam

>>	Anonymous Tue Feb 25 01:59:35 2014 No.133335 >>133314 Over the long term, housing matches inflation.

>>	Anonymous Tue Feb 25 01:59:35 2014 No.133336 Now coinbase is down. Probably couldn't handle the load. I can't believe one small company in japan run by a french jew can bring down an entire fledgling industry. This is amazing.

Anonymous Tue Feb 25 01:59:35 2014 No.133337
File: 51 KB, 200x199, lion kong.jpg [View same] [iqdb] [saucenao] [google]

>>133178
Well I don't like how they're not an exchange with the usual bids & asks, but I guess it's pretty damn hassle free (and cheap for the time being)

>suddenly, https://coinbase.com/ gives me nothing but application error
lel, the universe likes to keep things fun

>>	Anonymous Tue Feb 25 01:59:35 2014 No.133338 >>133317 mt. gox site is down or maybe through completely. bitcoin was not fucked up, only mt gox. basically mt gox acts like a brokerage firm - they help you exchange money for bitcoins. bitcoin is still fine just falling, it wasn't compromised

>>	Anonymous Tue Feb 25 02:00:06 2014 No.133346 >>132558 for a coin that is not regulated? >the perfect crime

>>	Anonymous Tue Feb 25 02:00:06 2014 No.133349 >>133343 Time to switch to counterparty. That's the difference with open source free software.

>>	Anonymous Tue Feb 25 02:00:06 2014 No.133350 >>133328 cool FUD brah, but you're gonna have to step it up in light of recent events ;^)

Anonymous Tue Feb 25 02:00:36 2014 No.133343

>>133323
ripple is not finished.

their contract system isn't finished, rippled can't handle very many transactions (especially trading), it crashes all the time, etc.

they're one key developer away from being completely over. they've lost all the other main devs already.

>>	Anonymous Tue Feb 25 02:00:36 2014 No.133344 >>133330 Yes.

Anonymous Tue Feb 25 02:00:36 2014 No.133345

>>133167

Inflation is a sort of theft. The Fed prints money to increase the money supply and to target ~3% inflation. 3% inflation means you lose 3% of the value of your money every year.

Well, without increasing the money supply, the value of the currency appreciates("deflation"). Look at stock values. Stocks function perfectly fine without increasing their share count yearly.

Basically, inflation acts to "encourage" people into "riskier investments". Fractional reserve banking doesn't *need inflation, the economy doesn't need inflation. So the finite amount of them is a non-issue.

>>	Anonymous Tue Feb 25 02:01:05 2014 No.133361 >>133333 Oh shit

>>	Anonymous Tue Feb 25 02:01:36 2014 No.133356 I hope that shit tanks so I can buy it up

>>	Anonymous Tue Feb 25 02:01:36 2014 No.133357 >>132385 >they're still mad /g/entoomen rused them from mining bitcoin in 2010 and 2011 still trying to parse this but lol no, not mad. i've been laughing at bitcoins since the very start

>>	Anonymous Tue Feb 25 02:01:36 2014 No.133358 at what point in the descent would be a good value to put it all on BTC?

>>	Anonymous Tue Feb 25 02:01:36 2014 No.133359 >>133333 you can trust me, goy :^)

>>	Anonymous Tue Feb 25 02:02:36 2014 No.133368 >>133336 >>Now coinbase is down. Works for me. Just puchased another half a bitcoin. >inb4 tur hur haf fun woke up seen ur vestmints down 2 hole

>>	Anonymous Tue Feb 25 02:02:36 2014 No.133369 File: 154 KB, 578x360, 1377067465666.jpg [View same] [iqdb] [saucenao] [google] >>133317

Anonymous Tue Feb 25 02:02:36 2014 No.133372

>>133330

i'm reading this
http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/

it's actually a bit of a horrow show I mean some people have lost thousands of dollars

is it better to gamble and lose, or be a NEET?

>>	Anonymous Tue Feb 25 02:03:05 2014 No.133382 >>133338 >it wasn't compromised tens of thousands leaked out of mt dox to god knows where, it's thoroughly compromised.

>>	Anonymous Tue Feb 25 02:03:05 2014 No.133383 File: 176 KB, 1490x1082, 1393311833690.jpg [View same] [iqdb] [saucenao] [google]

Anonymous Tue Feb 25 02:03:35 2014 No.133379

>>133349
counterparty is not viable long-term, but is sure as fuck better than ripple.

>>133350
you have no fucking idea what you're doing investing a coin where the creators own 98% of the coins and the coin does less trading than a 4chan joke coin. some of the said creators who own billions fucking HATE ripple as it exists today.

Anonymous Tue Feb 25 02:04:06 2014 No.133393
File: 55 KB, 480x327, wecrash.jpg [View same] [iqdb] [saucenao] [google]

HOLY STINKIN' MOTHERFUCKIN' SHIT BALLS

I JUST CAME ACROSS THIS FUCK WHILE RANDOMLY CHECKING THE NUMBERS AT COINMARKETCAP

HOW IN THE NAME OF ELEPHANT DICK DID THE FUCKING PRICE DROP ALL THE WAY TO DAMN NEAR $420, AND IT LOOKS LIKE IT'S STILL DROPPING AS I FUCKING SPEAK

ALL THE WASTED TIME......MY SWEAT.....MY BLOOD.....MY TEARS......

MY MOTHERFUCKIN' MONEYYYYYY

GOD CONTINUES TO MAKE FUN OF ME

WHYYYYYYYYYYYYYYYY

>>	Anonymous Tue Feb 25 02:04:36 2014 No.133387 What happened on the 9th of feb? Russia banned transactions, anything else?

>>	Anonymous Tue Feb 25 02:04:36 2014 No.133389 >>133317 MORNIUNG BRITFAG I"VE BEEN UP ALL NIGHT

>>	Anonymous Tue Feb 25 02:04:36 2014 No.133390 >>133358 I'm sure now is fine, the panic is a rumor, truth will probably be at least a little better than this

>>	Anonymous Tue Feb 25 02:04:36 2014 No.133392 >>133382 bitcoin ITSELF isn't compromised you fucktard

Anonymous Tue Feb 25 02:05:06 2014 No.133394

>>133358
Look at your wallet (your real one), your bank accounts, and all your spare cash. Total up *exactly* how much you would be totally okay with losing at this very second. When BTC drops to wherever it stabilizes for a reasonable period of time (48-72 hours), buy as many as you feel safe buying within the limit of the amount of money you would be willing to lose right at that very moment.

Don't ever, on any investment, spend more than you can replace or are willing to lose outright.

EVE Online is probably the best videogame for learning basic economics.

>>	Anonymous Tue Feb 25 02:05:36 2014 No.133399 >>133372 >is it better to gamble and lose, or be a NEET? Why is it a binary option? Why gamble on a speculative 1 and 0? Investing, isn't gambling.

>>	Anonymous Tue Feb 25 02:06:06 2014 No.133409 >>133387 First hints of something not right. I think that was the bitcoin transaction malleability gox issue.

>>	Anonymous Tue Feb 25 02:06:36 2014 No.133405 >>133393 You have nothing to lose unless you had your money in Mt.Gox.

>>	Anonymous Tue Feb 25 02:06:36 2014 No.133406 File: 154 KB, 1600x839, withjewsyou.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 25 02:06:36 2014 No.133408 >>133393 calm the fuck down, just hold on to your coins and wait for the market to go back up. jesus fucking christ - i know it's a new board but this place is already infested with bears

>>	Anonymous Tue Feb 25 02:07:05 2014 No.133414 >>133392 a significant fraction of it is missing. That's a compromising position to be in. The value of all other coins is destabilized by the questionable status of the missing ones.

>>	Anonymous Tue Feb 25 02:07:05 2014 No.133416 File: 297 KB, 1110x775, redditfag_an_heros.png [View same] [iqdb] [saucenao] [google] >>133406

>>	Anonymous Tue Feb 25 02:08:05 2014 No.133420 >>133405 False >>133393 SELL SELL SELL! C'mon man! SELL! >starts masturbating in corner

>>	S. Goldberg Tue Feb 25 02:08:05 2014 No.133421 >>133393 Oh my, you seem to be quite flustered my good go- I mean my good man. Perhaps you'd like to sell me your investment? I'll do it as an act of charity for one of my "/b/rothers".

>>	Anonymous Tue Feb 25 02:08:05 2014 No.133423 File: 8 KB, 208x243, guesswho.png [View same] [iqdb] [saucenao] [google] >>133406 >Storing ALL your bitcoins in one website >Wonder when this happens That's what ya get

>>	Anonymous Tue Feb 25 02:08:05 2014 No.133424 >>133406 damn. makes me feel a lot better about my 100 shircoins that were locked up in there.

>>	Anonymous Tue Feb 25 02:09:35 2014 No.133427 >>133393 y'alright bro?

>>	Anonymous Tue Feb 25 02:09:35 2014 No.133429 >>133405 .. or if you owned any BTC

>>	Anonymous Tue Feb 25 02:09:35 2014 No.133430 >>133416 HAH wow. Honestly though, he was totally gambling. There's no reason to have that much money in there if he wasn't day tarding on a market that he knows he can't withdraw USD from.

>>	Anonymous Tue Feb 25 02:10:05 2014 No.133431 >>133372 >http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/ I know it's rebbit, but holy fuck. I actually feel terrible about this. I'm REALLY glad I didn't buy in, though.

>>	Anonymous Tue Feb 25 02:10:05 2014 No.133439 It is hilarious how people fall for the same god damn financial Ponzi schemes every time. Price only goes up when more suckers come in. And then you run out of suckers

>>	Anonymous Tue Feb 25 02:10:06 2014 No.133438 >keeping your money on an exchange they deserve it

Anonymous Tue Feb 25 02:10:06 2014 No.133440

>>133414
jesus fucking christ, read this very carefully:
>a lot of bitcoins are missing
>this is the equivalent of theft or something to that degree
>the actual system of bitcoin is not compromised
in other words you're basically saying that if a store gets robbed, the dollar has been compromised. stop being that retarded

>>	Anonymous Tue Feb 25 02:11:05 2014 No.133444 File: 6 KB, 225x225, 1393123169900.jpg [View same] [iqdb] [saucenao] [google] >>133406 >>133416 Damn. That poor guy. That's about 3 million dollars if he could've sold them this morning. Dayum shame...

>>	Anonymous Tue Feb 25 02:11:36 2014 No.133441 >>133416 run this shit to USD on calculator at ~600 2851200 double check yeh 2,8 million dollars top motherfucking kek

>>	Anonymous Tue Feb 25 02:12:06 2014 No.133450 >>133439 >i don't know what a ponzi scheme is but msnbc said it so i agree gtfo srs

>>	Anonymous Tue Feb 25 02:13:06 2014 No.133455 >>133440 You are severely downplaying the issue. Keep the proportion on the same level. If literally all of Bank of America's dollars went missing and they were unable to pay out to savers and investors, the dollar would in fact be fucking compromised.

>>	Anonymous Tue Feb 25 02:13:06 2014 No.133456 >>133440 Don't be retarded, that amount of coins can rape the price to fucking nothing on every known exchange. No merchant will accept a currency like this.

>>	Anonymous Tue Feb 25 02:13:36 2014 No.133453 this document looks totally legit. especially the "letter from the ceo" part gave me some serious laughs. Nice pic of Karp you got there. If this doc is legit they totally deserved bankruptcy.

>>	Anonymous Tue Feb 25 02:14:06 2014 No.133462 >>133444 Yeah I bet the guy with 200 tulips or south sea trading company shares thought he was genius at the time too

>>	Anonymous Tue Feb 25 02:14:06 2014 No.133464 >>133440 replace store with 1/2 the output of a mint for several years and you've got a decent analogy. Would that compromise the dollar? No, because the security features on the bills in your wallet are still there?

>>	Anonymous Tue Feb 25 02:14:35 2014 No.133463 >>133453 https://twitter.com/MtGox https://www.mtgox.com/ >yfw

>>	Anonymous Tue Feb 25 02:14:36 2014 No.133460 >>133444 He never could have withdrawn that from Mt. Gox before they shut down anyway. Nor could he have withdrawn his BTC, either, because they stopped that months ago. He was fucked a long time ago.

>>	Anonymous Tue Feb 25 02:14:36 2014 No.133461 >>133438 Can someone, perhaps you, explain the difference between keeping it on Mt Gox and keeping it in a wallet on your HDD? Seriously .. why.

>>	Anonymous Tue Feb 25 02:15:05 2014 No.133468 >>133461 One is not secure and evaporates when Mt Goy does One is secure

>>	Anonymous Tue Feb 25 02:15:06 2014 No.133478 >implying there was ever a exploit >implying mtgox hasn't been transferring the bitcoins to their own wallet >implying they didn't get away with the greatest jew while playing the victim

>>	Anonymous Tue Feb 25 02:15:36 2014 No.133470 >>133460 Not months... I easily withdrew 320 BTC on 12/30.

Anonymous Tue Feb 25 02:15:36 2014 No.133471

>>133440
Let's turn this to... JP Morgan.
>JP Morgan increases customer wait times
>JP Morgan reports that somebody has been stealing electronically from them, is unclear about how this issue affects other banks, temporarily halt withdrawals
>JP Morgan is working on fixing issues, withdrawal resume, wait times increase
>JP Morgan dissapears

Commence the bank run on all other banks

>>	Anonymous Tue Feb 25 02:15:36 2014 No.133474 So can we blame this on the big banks? Who is going to jail for this. It's time for the 1% to pay.

>>	Anonymous Tue Feb 25 02:16:36 2014 No.133480 >>133461 ask your grandparents why they kept money in their mattresses

>>	Anonymous Tue Feb 25 02:17:36 2014 No.133482 >>133383 what software do you use for that?

>>	Anonymous Tue Feb 25 02:18:06 2014 No.133488 >>133461 One you have control over. The other can shut down and take everything with them.

>>	Anonymous Tue Feb 25 02:18:06 2014 No.133496 >>133478 "A jew screams in pain as he punches you in the face"

Anonymous Tue Feb 25 02:18:36 2014 No.133489

>>133450
a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

The only way to make money in bit coin is to hope some other dumbass pays more for it than you. How is it not a ponzi?

>>	Anonymous Tue Feb 25 02:18:36 2014 No.133491 >>133482 Not him but: http://bitcoinity.org/markets/bitstamp/USD

>>	Anonymous Tue Feb 25 02:18:36 2014 No.133494 >>133471 banks are different because they do fractional reserve. it's more like a commodity exchange fails.

>>	Anonymous Tue Feb 25 02:19:05 2014 No.133504 >>133463 don't forget http://support.mtgox.com/

>>	Anonymous Tue Feb 25 02:19:06 2014 No.133503 >>133491 >http://bitcoinity.org/markets/bitstamp/USD >That attempted propping up at 440 How long until this get's exhausted.... =)

>>	Anonymous Tue Feb 25 02:19:35 2014 No.133502 >>133461 Simple. Keep your money in your own wallet, or tell some random guy on the street to hold your wallet for you.

>>	Anonymous Tue Feb 25 02:19:36 2014 No.133499 >>133489 >nonexistent enterprise That's the thing there, no matter how much you hate buttcoins it there's actual use and need for them, if the price is usually inflated

>>	Anonymous Tue Feb 25 02:19:36 2014 No.133501 >>133471 Thankfully there's such a thing as banking regulations. If JP Morgan failed, the FDIC would step in, close the branches on a Friday, then sell it off to other banks to reopen on a Monday.

>>	Anonymous Tue Feb 25 02:20:06 2014 No.133509 >>133494 Only if that also takes out 1/2 the traders current accounts.

>>	Anonymous Tue Feb 25 02:21:05 2014 No.133516 >>133480 >>133502 OK but we're talking about VIRTUAL currency here. Cash under the mattress makes sense because you can hold it. Cash in a bank traditionally is safer. How the eff is keeping BTC on an exchange any safer? What. Are. The. Advantages?

Anonymous Tue Feb 25 02:22:06 2014 No.133525

It's not even the end of the business day in japan. If the report was fake, MtGox surely would have said something. If a bunch of other exchanges incorrectly called out mtgox, they would have said something. Mark must be fucking insane to lead the situation into such a messed up state. Maybe he was threatened by yakuza to give up all his coins.

>>	Anonymous Tue Feb 25 02:22:06 2014 No.133526 >>133416 >increase your account security now by visiting our security center! This is too fucking much, brb filing a missing persons report for my sides

>>	Anonymous Tue Feb 25 02:22:35 2014 No.133524 They got their survival of the fittest system and found themselves the prey rather than the predator they imagined themselves.

Anonymous Tue Feb 25 02:22:36 2014 No.133523

>>133478
Seriously, people think that a currency based on trust and decentralization, being put in a centralized location run by a select few wasn't a total red flag to a scammer? How fucking retarded do you have to be?

>>133489
If you put it like that, it sounds like bitcoin is one big decentralized ponzi scheme where anyone with enough lacking morals and greedy enough fingers can swoop in and steal a piece of everyone's pie.

>>	Anonymous Tue Feb 25 02:23:05 2014 No.133528 i don't get why karpeles just upped and left like this why didn't he just continue insider trading on mt goyim then dump his coins on other exchanges for FIAT to regain solvency i assumed that's what he was doing

Anonymous Tue Feb 25 02:23:06 2014 No.133536

>>133516
It's not. They were agreeing with you. Keeping BTC on an exchange is a borderline financially suicidal attempt at making a quick buck off of day trading. Nobody put their money into Gox for value security. They did it because they were greedy fucks, and they got what was coming.

>>	Anonymous Tue Feb 25 02:23:35 2014 No.133529 >>133503 Probably another hour of whales trying to squeeze every last red cent out of newbies who think this is the floor. Then another sell-off to 350 before the pattern repeats.

>>	Anonymous Tue Feb 25 02:23:35 2014 No.133530 >>133516 I think its similar to the same reason people keep money at PayPal.

Anonymous Tue Feb 25 02:23:35 2014 No.133533

>>133501
True, but that doesn't apply to Mt Gox, beautifully established over in squinty eyed Japan.

I was just trying to describe the... scale, of this issue.

But with banks, you pull out money. Which still holds it's value. This is JP Morgan ceasing to exist.... and also somehow our exchange vs the euro falls by 1/2.

Anonymous Tue Feb 25 02:23:35 2014 No.133534

>>133516
>he mattress makes sense because you can hold it. Cash in a bank traditionally is safer. How the eff is keeping BTC on an exchange any safer?

immediately liquidation in the event of a crash.

With bitcoin, someone is going to be left holding the bag, you can have the first sell order in, and be the first one out.

>>	Anonymous Tue Feb 25 02:24:06 2014 No.133544 >>133537 its too bad NEETs cant jump from basements

Anonymous Tue Feb 25 02:24:36 2014 No.133537
File: 774 KB, 640x360, 1364859199751.gif [View same] [iqdb] [saucenao] [google]

>>133372
>http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/
I recognize that I should be feeling bad about this and sorry for these people.

All I feel is sadistic joy.

It's fucked up, I know. But at the same time, I'm riding the biggest "I told you so" boner ever.

>>	Anonymous Tue Feb 25 02:24:36 2014 No.133538 https://twitter.com/search?q=my bitcoin mtgox

Anonymous Tue Feb 25 02:25:35 2014 No.133549

>>133489

>grampafag pretending to know how crypto system works
>thinks bitcoins created out of thin air like babies until 'the talk' with his father at ripe young age of age 28
>explain concepts of hard caps, equipment investment capital, mining difficult-----doesn't matter...back in my day, we used to walk to church in riverdancing clogs

>>	Anonymous Tue Feb 25 02:25:37 2014 No.133545 >>133372 nice more for u https://bitcointalk.org/index.php?topic=486197.0 >already dead

>>	Anonymous Tue Feb 25 02:26:35 2014 No.133556 File: 70 KB, 516x246, image.jpg [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 25 02:27:05 2014 No.133563 File: 65 KB, 367x306, 1372874639787.jpg [View same] [iqdb] [saucenao] [google] >>133560

>>	Anonymous Tue Feb 25 02:27:35 2014 No.133559 >>133537 You sound new. Welcome to your first bitcoin crash watch, enjoy the show.

>>	Anonymous Tue Feb 25 02:27:35 2014 No.133560 The ride NEVER ends.

>>	Anonymous Tue Feb 25 02:28:05 2014 No.133569 Should I ditch my BTC now?

Anonymous Tue Feb 25 02:28:06 2014 No.133567

>>133536
>>133536

OK .. am I right in assuming the main reason people left their BTC on exchanges was because there was some kind of hassle/delay/fee charged for withdrawing or inserting or converting USD to BTC for every time/transaction?

If so, then I could see why they would leave it there. How much do the exchange take for every $100 they convert into BTC?

>>	Anonymous Tue Feb 25 02:29:35 2014 No.133574 >>133499 >there's actual use and need for them silkroad is gone, so there is neither

Anonymous Tue Feb 25 02:29:36 2014 No.133572

>Yes, come to Mt. Goy. Give us your money and we will get bitshekels for you
>Don't worry, the free market would punish us if we just took your money and ran
>Thank you, Moishe. Just like Murray Rothbard and Ayn Rand, your people only want the best for us

Isn't it funny how people desiring a "decentralized" and "free" currency immediately start trusting a select few exchanges with all their wealth?

>>	Anonymous Tue Feb 25 02:30:36 2014 No.133578 There are six Mt. Gox threads near the top of Hacker News right now.

Anonymous Tue Feb 25 02:31:05 2014 No.133588

The most ironic part of this for me is that I remember how BTC soared after the FEDS said they would leave it alone. Now that everyone has lost their money they are calling for external auditors, investigations, etc.

I always thought it was the strangest thing that the price doubled when more uncertainty was introduced. I get Risk/Return, but the risk people are putting up with makes no sense. It really feels like 90% of the BTC community has no basic understanding of finance or security markets.

>>	Anonymous Tue Feb 25 02:31:35 2014 No.133584 >>133569 no

>>	Anonymous Tue Feb 25 02:32:06 2014 No.133595 >>133578 better than the usual >give 10% equity to YC for mcdonalds wages, it's totally a good deal guise >worthless benchmarks >bullshit about motivation >e-penis stroking look how cool i am

>>	Anonymous Tue Feb 25 02:32:06 2014 No.133598 >>133588 >Now that everyone has lost their money they are calling for external auditors, investigations, etc. No they aren't. They don't believe in statist things like investigations and regulations.

>>	Anonymous Tue Feb 25 02:32:35 2014 No.133591 >>133536 >They did it because they were greedy fucks, and they got what was coming. that applies to everyone with BTC.

Anonymous Tue Feb 25 02:32:35 2014 No.133592

>>133559
No, I've been here before.

Those first crashes could be attributed to many things: peak excitement, Silk Road going down, etc. These are things that the evangelists and true believers could wave away as saying "It's part of the system".

This is slightly different. This will validate so many media accusations...

Anonymous Tue Feb 25 02:33:36 2014 No.133602
File: 103 KB, 756x507, 1393313590212.png [View same] [iqdb] [saucenao] [google]

It's really quite fascinating how true this graph is for all bubbles. Says something about human nature.

Does anyone have any literature or ebooks I can read that talks about the psychology of economics and speculative bubbles?

>>	Anonymous Tue Feb 25 02:34:05 2014 No.133607 >>133537 that guy that lost 5000BTC, I linked him to this thread, maybe he will show up

Anonymous Tue Feb 25 02:35:35 2014 No.133609

Hooray for two things:

A. Not investing in Bitcoin.

Shit's already too old and abused to be a stable investment.

B. Never actually mining with the intent of making profit.

I do this in my free time, it's very hard for me to lose much money in this market (Except in electricity bills, of course).

>>	Anonymous Tue Feb 25 02:36:05 2014 No.133619 >>133609 It never was an investment, it was a CURRENCY; a medium of exchange. It's their own fault that idiots lost so much money because they can't understand that simple fact.

>>	Anonymous Tue Feb 25 02:36:06 2014 No.133618 File: 95 KB, 1097x394, d.png [View same] [iqdb] [saucenao] [google] >>133598 Never heard of Reddit??

>>	Anonymous Tue Feb 25 02:36:35 2014 No.133617 >>133592 I don't get it, isn't this exactly the problem that can be waived away as a failure of the exchange institution and not the currency?

>>	Anonymous Tue Feb 25 02:36:36 2014 No.133614 To anyone who lost money on btc, have u considered that NEETS are the dumb last money in of any bubble

>>	Anonymous Tue Feb 25 02:38:06 2014 No.133624 >>133619 And thus, in this moment I am euphoric. Now everyone else realizes that currency doesn't imply a value.

>>	Anonymous Tue Feb 25 02:38:06 2014 No.133625 >>133619 >It never was an currency, it was a GAMBLE fix'd that for you.

>>	Anonymous Tue Feb 25 02:38:06 2014 No.133627 So....when is LTC coming to Gox again?

>>	Anonymous Tue Feb 25 02:38:36 2014 No.133623 >>133618 external auditors are not government agencies. voluntary audits are the free market at work.

>>	Anonymous Tue Feb 25 02:39:06 2014 No.133628 >>133602 Extraordinary Popular Delusions and the Madness of Crowds

Anonymous Tue Feb 25 02:39:06 2014 No.133631

>>133607
That's $2,000,000.

What is he going to say? I'm a horrible human being?

Probably true, but I'm not the one who poured $2 mil into unstable monopoly money (which people have been warning against for a long time and those warnings have been disregarded) and left it in the care of a "secure" third party (repeat that being warned before thing). You at least cash some of that out and have it somewhere secure precisely for something like this. Not doing so is just a failure of common sense and proper precautions.

At the end of the day, this is the free market doing what it does. This is literally what he signed up for: a currency with no regulation.

>>	Anonymous Tue Feb 25 02:39:06 2014 No.133633 >>133623 granted, but the theme is oversight, accountability, blah blah blah

>>	Anonymous Tue Feb 25 02:39:36 2014 No.133629 >>133627 Next week

>>	Anonymous Tue Feb 25 02:40:05 2014 No.133641 >>133607 >5000btc hory shit... is there anything but the noose left for that guy?

>>	Anonymous Tue Feb 25 02:40:35 2014 No.133639 >>133592 I don't really follow. People always post that bubble image, but I've never actually seen it go below the mean. I don't see how this bad news will end bitcoin, especially after the China meltdown in December.

>>	Anonymous Tue Feb 25 02:41:06 2014 No.133648 This is why I use Dogecoin.

>>	Anonymous Tue Feb 25 02:41:35 2014 No.133643 File: 69 KB, 445x442, 1381260062439.png [View same] [iqdb] [saucenao] [google] > mfw I predicted this would happen two weeks ago. I love when greedy neckbeards get their privilege checked.

Anonymous Tue Feb 25 02:41:35 2014 No.133646

>>133631
>You at least cash some of that out and have it somewhere secure precisely for something like this. Not doing so is just a failure of common sense and proper precautions.
exactly, he is a fucking idiot and should not have had it all just sitting on an exchange

>>	Anonymous Tue Feb 25 02:42:35 2014 No.133649 >>133624 Currencies do have value, but unlike money, which has uses outside of a medium of exchange, a currency has no value other than to be exchanged. >>133625 It was that too. It's still a currency.

>>	Anonymous Tue Feb 25 02:42:35 2014 No.133651 File: 1.39 MB, 240x252, 1297977223329.gif [View same] [iqdb] [saucenao] [google] >That document Holy fucking shit, this is worse than I could have possibly imagined. There are some millionaires who went fucking broke today.

>>	Anonymous Tue Feb 25 02:42:35 2014 No.133652 rumors on reddit swirling around that karpeles was last seen at the virtual office being escorted out by japanese police #developing

>>	Anonymous Tue Feb 25 02:42:35 2014 No.133654 >>133643 >only two weeks nigga we've known gox is stupid and in death throes for a while now im certainly not panicking, this is all according to the plan so far

>>	Anonymous Tue Feb 25 02:43:06 2014 No.133660 Short sidebar here: Couldn't this whole mtgoy mess with the missing money have been recognized with basic double entry bookkeeping and balancing?

>>	Anonymous Tue Feb 25 02:43:06 2014 No.133662 Someone post the "spartans hold" image. I need to laugh.

>>	Anonymous Tue Feb 25 02:43:06 2014 No.133663 >>133651 They were never millionaires. If you don't have it in your hand, you might as well not have it.

Anonymous Tue Feb 25 02:43:36 2014 No.133656

>>133617
Yes, but keep in mind that one of the selling points of this currency is that there isn't any regulation or backing institutions other than user trust.

If this was a US bank, then it would be FDIC insured up to $250,000. But since we're dealing with an unregulated currency, anyone who lost money is going to have a nightmare trying to get it back (if ever).

How many people do you think will be scared away by that realization?

>>	Anonymous Tue Feb 25 02:44:05 2014 No.133665 >>133628 thanx

>>	Anonymous Tue Feb 25 02:45:05 2014 No.133667 >>133652 that actually works in his favor. he's probably safer in police custody.

>>	Anonymous Tue Feb 25 02:45:05 2014 No.133674 >>133656 An exchange isn't a bank and shouldn't be treated like one.

>>	Anonymous Tue Feb 25 02:45:05 2014 No.133676 >>133660 It could have been recognized with even the most basic bookkeeping.

>>	Anonymous Tue Feb 25 02:45:05 2014 No.133678 File: 240 KB, 600x249, 1393314355995.png [View same] [iqdb] [saucenao] [google] >>133662

>>	Anonymous Tue Feb 25 02:45:35 2014 No.133668 >>133663 That's a matter of opinion. What if I had 200 million dollars all tied up in the stock market? I'm still a millionaire in my book.

Anonymous Tue Feb 25 02:45:35 2014 No.133669

>>133631
Guarantee most if not all of his btc's were accrued before the btc explosion when you could still buy btc for as little as 1 to 10 dollars each.

I know, still doesn't ease 'that feels.' But it's more like...I bought a babe ruth rookie card 80 years ago for 100 bucks, just found out it's worth over a mill...and went to go and retrieve it from the attic from my old house..only to find out it had already been sold off.

But yeah, still prime for an hero exit.

>>	Anonymous Tue Feb 25 02:45:35 2014 No.133671 >>133100 I just bought bitcoin half an hour ago and already received it (thanks for the cheap prices fags). Who the fuck buys bitcoin and waits 3 days?!

>>	Anonymous Tue Feb 25 02:45:35 2014 No.133672 File: 36 KB, 500x207, hank-batman.jpg [View same] [iqdb] [saucenao] [google] Those insufferable pricks in the /g/ threads are probably offing themselves now. > mfw they think they're millionaires despite never converting into fiat currency

>>	Anonymous Tue Feb 25 02:46:05 2014 No.133680 >>133660 yes. but that assumes some measure of competence and professionalism.

>>	Anonymous Tue Feb 25 02:46:05 2014 No.133682 >>133668 depends on what you own, if its some shitty penny stocks you could be worth nothing tomorrow. If it is in big stable blue chip companies then yes

>>	Anonymous Tue Feb 25 02:47:06 2014 No.133685 File: 261 KB, 1000x883, 1374502861309.png [View same] [iqdb] [saucenao] [google] >>133678 Fucking redditors mang.

>>	Anonymous Tue Feb 25 02:47:06 2014 No.133686 >>132846 the fact you can always make jewelry with it and sell it for money clearly

>>	Anonymous Tue Feb 25 02:47:06 2014 No.133687 >>133683 noose it is

>>	Anonymous Tue Feb 25 02:47:36 2014 No.133683 >>133641 for all you know he has 10 Mil in the Bank of America

>>	Anonymous Tue Feb 25 02:48:06 2014 No.133688 >>133683 mtgox has 5.5 million stuck in Wells Fargo

>>	Anonymous Tue Feb 25 02:48:06 2014 No.133694 >>133682 Cryptocurrencies are pretty comparable to penny stocks, so fair enough.

>>	Anonymous Tue Feb 25 02:48:36 2014 No.133689 >>133674 And who is going to enforce that idea?

>>	Anonymous Tue Feb 25 02:48:36 2014 No.133690 >>133683 Not cashing out a ponzi scheme at the double top >top lel. babby's first bubble

>>	Anonymous Tue Feb 25 02:49:05 2014 No.133700 >>133167 >can it still be a currency in 10, 20, 50 years? They aren't all getting mined until you're long dead.

>>	Anonymous Tue Feb 25 02:49:35 2014 No.133699 >>133678 I always thought this was such a stupid image. The Spartans held and what happened to them all? They died!

>>	Anonymous Tue Feb 25 02:50:05 2014 No.133704 >>133699 that wasn't the point? It's not like NEET have the disposable income to buy more bitcoin once prices drop.

Anonymous Tue Feb 25 02:51:06 2014 No.133709

>>133567

no you don't understand,

gox was lock a fx exchange, people were converting BTC to USD all the time, back and forth, like a currency market. They had LTC too

The people there were "trading" like you see on FX markets

That is why they didn't withdraw

Anonymous Tue Feb 25 02:51:35 2014 No.133706

>>133686

>then you realize jewelry's 'value' is all subjective if not for the market value of the metals

fyi I can also go on overstock or amazon right now and purchase millions of dollars in computer equipment, futons, and beef jerkey with my btc if I wanted.

>inb4 but it's still not a currency with any feasible real world value

>>	Anonymous Tue Feb 25 02:52:05 2014 No.133711 >>133689 The people investing in the currency should be aware of the fact their coins can and should be stored locally.

>>	Anonymous Tue Feb 25 02:52:05 2014 No.133715 >sold out when it was at least $1,050 two months ago because I sensed something >made at least $12,000 >see prices now >buy 15 btc for $6,750 on coinbase >wait until things rise back up

>>	Anonymous Tue Feb 25 02:54:05 2014 No.133725 >>133715 you don goffed

>>	Anonymous Tue Feb 25 02:54:35 2014 No.133724 File: 143 KB, 1194x760, qLYhzR3[1].jpg [View same] [iqdb] [saucenao] [google] >not being on the inside

>>	Anonymous Tue Feb 25 02:55:36 2014 No.133729 (laid off) MTGOX EMPLOYEE "Delerium" IRC NOW ON ##mtgox-chat@FREENODE

>>	Anonymous Tue Feb 25 02:55:36 2014 No.133730 >>133711 welp thread over. We solved the media-social-bitcoin threat paradigm guys gj

Anonymous Tue Feb 25 02:56:06 2014 No.133737

07:53 < Plarkplark_> Delerium, is that really Sarah?
07:53 < Delerium> Plarkplark_: no thats not sarah - its a fake account
07:53 < Delerium> Gabralkhan: neither me or sarah have had any contact so say we have no job so...
07:54 < Delerium> Plarkplark_: it is 100% fake
(about how "sarah", a known mtgox support employee made a post on reddit)

>>	Anonymous Tue Feb 25 02:56:06 2014 No.133739 >>133379 The bullshit in this post is astounding. Ripple's development team has been EXPANDING for the last couple months. The creators own 20% of XRP split between like 10 people. Not exactly a monopoly. Shill more BTC

>>	Anonymous Tue Feb 25 02:56:06 2014 No.133740 >>133724 Kop Tek.

>>	Anonymous Tue Feb 25 02:56:36 2014 No.133734 File: 140 KB, 1144x628, grovy.jpg [View same] [iqdb] [saucenao] [google] >>133715 >wait until things rise back up

>>	Anonymous Tue Feb 25 02:56:36 2014 No.133735 >>133690 the ting is, how do you KNOW when you're on top?

>>	Anonymous Tue Feb 25 02:58:35 2014 No.133746 >>133709 shit .. to trade 5000BTC is some serious madness, given the volatility of it. I mean it's extremely high stakes gambling there.

Anonymous Tue Feb 25 02:59:36 2014 No.133750

>>133372

This one guy

>About 14 coins. And it happens to be the last 14 coins my wife will ever let me invest in bitcoin. She wants nothing to do with it now. Not for investing, not for spending -- nothing. And it's a damned shame.
>I love how all the other bitcoin companies got together to say that their money was safe. Did they think that would help people like me? Do they think my wife cares?
>I love this community - I've been an evangelist since the early days - but no amount of guarantees or proof of solvency is ever going to win her trust back. And it kills me - because I know I'm not the only one who will be affected in this way.
>She'll move past it eventually, but I was really enjoying being a part of this. Here. Now. History. you know?

Then later he says he'll keep buying bitcoins on the sly, without telling his wife. He's going to ruin his fucking marriage over this shit. He's like Marty from True Detective, only instead of fucking broads he's buying useless funny-money.

>>	Anonymous Tue Feb 25 03:01:36 2014 No.133754 File: 101 KB, 780x341, simple.png [View same] [iqdb] [saucenao] [google] >>133735 shit's simple really. Once a breach to the top fails, sell evertyhing.

>>	Anonymous Tue Feb 25 03:01:36 2014 No.133755 >>133750 >He's going to ruin his fucking marriage over this shit. Fuck bitches. Acquire "currency"

Anonymous Tue Feb 25 03:01:36 2014 No.133757
File: 2.92 MB, 350x197, 1389063364545.gif [View same] [iqdb] [saucenao] [google]

>>133711
Number one fucking rule of economics and human nature: PEOPLE ARE STUPID.

You can't enforce this. This has happened before, it is happening now, and it will happen again.

Nothing will come of this.

And this isn't even accounting for other issues:
http://www.reuters.com/article/2014/02/24/us-bitcoin-security-idUSBREA1N1JO20140224

>>	Anonymous Tue Feb 25 03:03:05 2014 No.133763 Why are people selling though? A scam site went bust? As expected by a rational individual with a brain. But no, people have to sell on other healthy exchanges. Are they retarded?

>>	Anonymous Tue Feb 25 03:03:06 2014 No.133762 >>133755 lol

>>	Anonymous Tue Feb 25 03:04:05 2014 No.133767 >>133750 It's an addiction, really. It's no different to gambling in a bookies, only the people doing it with BTC have slightly better odds of winning and are a bit smarter. My dad always hated gambling and instilled it in my at a young age

>>	Anonymous Tue Feb 25 03:04:35 2014 No.133764 >>133750 The beauty of bitcoin is that he'll be able to buy dragon dildos without leaving anything for the wife to see on bank/creditcard statements.

>>	Anonymous Tue Feb 25 03:04:35 2014 No.133765 File: 25 KB, 940x348, simple2.png [View same] [iqdb] [saucenao] [google] >>133754 here you go 2.0

>>	Anonymous Tue Feb 25 03:05:06 2014 No.133770 File: 255 KB, 1156x926, 13148026382132.jpg [View same] [iqdb] [saucenao] [google] >>133750 >He's going to ruin his fucking marriage over this shit. Yeah rip.

Anonymous Tue Feb 25 03:08:05 2014 No.133785 [DELETED]

>>133662 [insert gladiator quote]

"... Three weeks from now, bitcoin will rebound... and I will be driving a Gallardo. Imagine where you will be.... and it will be so. Hold the line! Stay with me!... And If you find yourself doubting! In fear of a crash! Do not be troubled! For bitcoins are eternal!

>>	Anonymous Tue Feb 25 03:08:35 2014 No.133781 >>133729 i tried joining that channel and it said it didn't exist wtf

>>	Anonymous Tue Feb 25 03:08:36 2014 No.133779 >>133763 what if i told you a healthy exchange may not be healthy etc

>>	Anonymous Tue Feb 25 03:08:36 2014 No.133780 >>133763 It's a bit self fulfilling. Everyone expected the price to dip because of this so they all sold to rebuy lower. That's the not idiots. A lot of people are just that stupid.

>>	Anonymous Tue Feb 25 03:09:05 2014 No.133794 >>133781 did you use two #s?

>>	Anonymous Tue Feb 25 03:09:35 2014 No.133792 >>133780 not knowing anything about bubbles. Thinking this isn't rats getting off the sinking ship. Enjoy being penniless. I am going to stick to businesses that actually make money, like Coca Cola and Procter and Gamble.

>>	Anonymous Tue Feb 25 03:09:36 2014 No.133789 I think it got hacked by the chinese >16k bitcoin flowed into china in last 40 mins, just a coincidence?

>>	Anonymous Tue Feb 25 03:10:35 2014 No.133796 File: 169 KB, 1024x600, pebkac.png [View same] [iqdb] [saucenao] [google] >>133781 lern2computer

>>	Anonymous Tue Feb 25 03:11:05 2014 No.133798 >>133763 all those coins that mtgox was supposed to have exist somewhere and there is no info on where they might be. It'd be retarded not to sell, the monopoly game is over because it's bedtime.

Anonymous Tue Feb 25 03:11:05 2014 No.133799

Question to BTC fags

Why is a lot of power held in the hands of a few 'exchanges'? I mean what are the overheads of running an exchange - how hard is it to convert your BTC to USD and vice versa?

Basically, how come 100 BTC exchanges haven't sprung up? Is it just to do with trust?

>>	Anonymous Tue Feb 25 03:12:06 2014 No.133804 >>133799 opening bank accounts is surprisingly difficult

>>	Anonymous Tue Feb 25 03:12:06 2014 No.133805 >mtgox plans to rebrand as "gox.com" to fix their image Why would they go with that of all things? Why not a better name that brings up no memories of their shitty previous incarnation?

>>	Anonymous Tue Feb 25 03:12:06 2014 No.133807 >>133799 not knowing about economy of scale through network effect jesus christ you faggots get dumber by the day

>>	Anonymous Tue Feb 25 03:12:36 2014 No.133800 >>133796 is that weechat (weechat-curses) thought i was the only suckka using that client

>>	Anonymous Tue Feb 25 03:12:36 2014 No.133802 This will bottom out at 300USD per BTC to loosely fit a linear path. Screencap this post.

>>	Anonymous Tue Feb 25 03:13:06 2014 No.133809 >>133800 >is that weechat it's based as fuck irssi. using anything else is a sign you're a pleb.

Anonymous Tue Feb 25 03:13:06 2014 No.133810

>>133746

exactly, that is why the media backlash against gox won't be as bad as /biz would have you believe, because really only people that lost money are degenerate gamblers

its not like the entrepreneurs and developers that are building bitcoins startups lost money in gox, and these are the people that the media interviews

Anonymous Tue Feb 25 03:13:06 2014 No.133811

>>133792
I'm comfortable with my 2k I made with a $300 initial investment, I'm only risking about $500 at this time anyway, I can live with that with the very likely return. BTC has a dip like this every other month and every single time without fail half of /g/ or now /biz/ claims the world is over and bubbles and reposts the bubble image at least a hundred times.

>>	Anonymous Tue Feb 25 03:13:36 2014 No.133808 File: 9 KB, 384x173, 13098722016.png [View same] [iqdb] [saucenao] [google] OH SHI... https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew?offset=600&filter=0

>>	Anonymous Tue Feb 25 03:14:06 2014 No.133817 >>133808 What's this then?

>>	Anonymous Tue Feb 25 03:14:36 2014 No.133813 >>133789 Their twitter went down aswell, so unless their sharing admin passwords or a email connected to both got hacked then maybe. >nobody can actually sue mtgox for this nor chargeback accounts

>>	Anonymous Tue Feb 25 03:14:36 2014 No.133814 >>133789 sauce?

>>	Anonymous Tue Feb 25 03:15:05 2014 No.133818 >>133808 >2012

Anonymous Tue Feb 25 03:15:06 2014 No.133822

>>133799
BTCfags want to believe that their shit is unregulated and free from control.

In reality there are informal, unaccountable institutions. The exchanges mostly dominate how BTC are exchanged to fiat currency and back (not to mention into other alt coins). Mining is dominated by a small number of mining pools with top level mining rigs. Mining rig production is in the hands of what is basically a hardware cartel. It goes on.

Apparently, people forgot that power attracts power.

>>	Anonymous Tue Feb 25 03:15:36 2014 No.133819 File: 827 KB, 320x213, 1360304162281.gif [View same] [iqdb] [saucenao] [google] >>133808

>>	Anonymous Tue Feb 25 03:15:36 2014 No.133820 >>133802 >Implying BTC has any value

Anonymous Tue Feb 25 03:16:06 2014 No.133827
File: 53 KB, 250x149, 4Vy4NgZ[1].jpg [View same] [iqdb] [saucenao] [google]

>>133799
Getting financial transmitter licenses (one for each US state you want to have customers in) and following anti-terrorism protect-the-children money laundering freedom laws is expensive and a lot of work

Anonymous Tue Feb 25 03:16:06 2014 No.133828

>>132536
>Some scam site went down that everyone knew was a scam site
>You're going to lose a lot
Umm...first of all, the market has already reacted for the last few weeks going from 800 to 500, so most of sheeple already sold.

Secondly, it is common knowledge that mtgox is scam and I don't get it why people were using it.

Thirdly, bitcoin protocol is all fine and transaction mallability is fixed on other sites.

Fourthly, be greedy when others are fearful.

>>	Anonymous Tue Feb 25 03:16:06 2014 No.133829 File: 24 KB, 868x817, 11146116259.png [View same] [iqdb] [saucenao] [google] >>133818 Gox was scammed for years.

>>	Anonymous Tue Feb 25 03:17:36 2014 No.133830 >>133792 they will accept bitcoin soob

>>	Anonymous Tue Feb 25 03:17:36 2014 No.133834 File: 39 KB, 979x353, simple3.png [View same] [iqdb] [saucenao] [google] >>133765 3.0

>>	Anonymous Tue Feb 25 03:18:36 2014 No.133836 >>133808 Explain.. is this where all the money went? Wut?

>>	Anonymous Tue Feb 25 03:19:27 2014 No.133841 >>133828 it is common knowledge that bitcoin is scam and I don't get it why people are using it.

>>	Anonymous Tue Feb 25 03:19:57 2014 No.133840 >Trusting a site where the 'x' is one character away from 'y'

>>	Anonymous Tue Feb 25 03:20:56 2014 No.133845 I lost $300 =(

>>	Anonymous Tue Feb 25 03:20:56 2014 No.133846 >>133829 >Implying that wasn't an inside job Either jewKarpeles is a fething moron, or it was done from the inside.

>>	Anonymous Tue Feb 25 03:21:26 2014 No.133852 File: 93 KB, 940x348, simple4.jpg [View same] [iqdb] [saucenao] [google] >>133834 here, let me show u how a trader would actually do this shit. I am only up because I have trouble sleeping. Only if you can control your emotion though

>>	Anonymous Tue Feb 25 03:21:56 2014 No.133851 >>133763 Because inherently, every other exchange have the same power to pull out this gox bullshit situation?

>>	Anonymous Tue Feb 25 03:22:56 2014 No.133855 www.scribd.com/doc/209098983/MtGox-Situation-Crisis-Strategy-Draft-With-No-black-Bars

>>	Anonymous Tue Feb 25 03:22:56 2014 No.133856 >>133822 I imagine there are thousands of Chinese factories mining coins. I mean shit they do it for Runescape gold.

Anonymous Tue Feb 25 03:22:56 2014 No.133857
File: 92 KB, 1033x755, 1390378238153.jpg [View same] [iqdb] [saucenao] [google]

>>133818
2012 is merely the oldest date
>>133836
Pure speculation, but the amounts and timespan are fun to draw conclusions from. I think it would be odd for a single scammer to funnel everything through a single address.

>>	Anonymous Tue Feb 25 03:24:58 2014 No.133864 >>133857 Well why not when there is jack shit anyone can ever do about it?

>>	Anonymous Tue Feb 25 03:25:56 2014 No.133865 >>133851 Not all of them would have the same influence, no one would give any shits if coinrush went down, only a few are big enough. Frankly people using Gox really really had it coming, it was total shit since forever.

>>	Anonymous Tue Feb 25 03:25:56 2014 No.133866 >>133809 I'm the person who posted that screenshot. Brofist. Bin using my main nigga irssi for over a decade.

>>	Anonymous Tue Feb 25 03:25:56 2014 No.133867 File: 125 KB, 600x574, cookie-monster-face-2.jpg [View same] [iqdb] [saucenao] [google] ime of death: 11:00AM Japanese time 25/2/2014

>>	Anonymous Tue Feb 25 03:26:26 2014 No.133869 >>133852 I was just showing it is isn't necessarily the end of the world if you don't sell everything after a failed break.

>>	Anonymous Tue Feb 25 03:27:26 2014 No.133879 >>133869 it could be, because you don't know what the final top will be. Thats why you need strong rule based guides to trade as a way to manage risk.

>>	Anonymous Tue Feb 25 03:27:56 2014 No.133877 >>133856 Not thousands, but yes. Dozens of facilities mining this crap. Individual mining is long dead.

>>	Anonymous Tue Feb 25 03:28:57 2014 No.133881 >"Is there any proof that Godzilla might be involved?" Ahahahahah irc be cray

>>	Anonymous Tue Feb 25 03:30:26 2014 No.133888 File: 19 KB, 400x225, mortimer-duke.jpg [View same] [iqdb] [saucenao] [google] >>133857 WE'VE GOTTA GET HOLD OF WILSON, AND TELL HIM TO SELLLLL

>>	Anonymous Tue Feb 25 03:32:27 2014 No.133891 >>133529 habeenign

Anonymous Tue Feb 25 03:36:56 2014 No.133900

08:32 <@emma> i used to think about what i would do once i got my coins out of there and now im going to work tomorrow and have nothing
08:32 <@emma> im a stupid waitress why did i think i could do this
08:32 <@emma> i hate this
08:33 <@money> emma never lose hope
08:33 <@emma> i dont even understand bitcoins
08:33 <@emma> i believed in what they said
08:33 < sideshownz> emma: How much did you loose?
08:33 <@emma> 120 coins
08:33 <@money> emma stocks is the road to riches, don't lose hope. you can get out of it. you need to study hard
8:34 <@money> emma, go to bed, we will fight till the very end, someone will pay, and you will get sme of it i'm sure.

>>	Anonymous Tue Feb 25 03:37:26 2014 No.133904 >>133900 Never invest anything you can't afford to lose outright.

>>	Anonymous Tue Feb 25 03:37:27 2014 No.133903 >tfw got rid of all of my bitcoins a couple of days ago

>>	Anonymous Tue Feb 25 03:37:56 2014 No.133907 >>133900 10/10

>>	Anonymous Tue Feb 25 03:38:56 2014 No.133912 >>133907 We're gonna need more sides Bob.

>>	Anonymous Tue Feb 25 03:38:57 2014 No.133911 >>133891 My bet is that it's gonna bounce back before 400, it's gonna take a couple hours before another strong move down if it even happens at all

>>	Anonymous Tue Feb 25 03:39:56 2014 No.133914 >>133900 dumb bitch

>>	Anonymous Tue Feb 25 03:41:27 2014 No.133916 File: 29 KB, 340x399, 1313293204166.jpg [View same] [iqdb] [saucenao] [google] >>133900 >08:33 <@emma> i dont even understand bitcoins oh emma

Anonymous Tue Feb 25 03:42:27 2014 No.133919
File: 96 KB, 825x540, 1377585371517.jpg [View same] [iqdb] [saucenao] [google]

The price took a hit, but that's a result of the exchange's fucking incompetence. This doesn't change anything if you believe in the basic premise of a borderless, decentralized currency that is also inflation proof.

When a country like Argentina's currency goes to shit that doesn't become a justifiable argument to return to a barter system and do away with 'money' entirely.

>>	Anonymous Tue Feb 25 03:42:27 2014 No.133920 >>133159 >Gox is done >Bitcoin rising like a pheonix What was the bad news again?

>>	Anonymous Tue Feb 25 03:42:57 2014 No.133922 is emma ##mtgox-chat@freenode's koreaboo?

>>	Anonymous Tue Feb 25 03:42:57 2014 No.133923 Im surprised theres not alot of counter intel going on right now. Its like the thieves just dont give a fuck.

>>	Anonymous Tue Feb 25 03:43:27 2014 No.133928 >>133900 Holy shit she had 120 coins. She must have been holding since 2012 or something when mt.gox was really the best/only option to trade. I feel legitimately bad for her.

>>	Anonymous Tue Feb 25 03:43:57 2014 No.133926 I'm shocked and disappointed by this. Whoever could've foreseen something like this happening?

>>	Anonymous Tue Feb 25 03:44:27 2014 No.133931 File: 1.93 MB, 576x324, HUHHHHH.gif [View same] [iqdb] [saucenao] [google] >>133900 >A waitress is now 120 coins in debt >minimum $17,550 in debt But here's the real killer >She doesn't understand bitcoins >but had admin for that channel

>>	? !oZrFkMYfB. Tue Feb 25 03:44:27 2014 No.133932 File: 213 KB, 1960x1102, DSC_000033.jpg [View same] [iqdb] [saucenao] [google] >>133900 Top kek

>>	Anonymous Tue Feb 25 03:44:27 2014 No.133933 >>133920 >Steadily declining >RISING LIKE A PHOENIX It's going to tank a bit more before it goes back up

Anonymous Tue Feb 25 03:44:57 2014 No.133934

8:40 < SarahCoinBit> I'm trying to find out now
08:40 <@money> SarahCoinBit: what's the ETA for withdrawals?
08:40 < AndrewWhatsUpppp> SARAH IS BACK. EVERYTHING IS FINE FOLKS!
08:41 <@money> lolol
08:41 < CompNsc> At least we might get some info
08:41 < DeathScythe676> Sarah can you prove legit by opening real #mtgox channel? we've had too many fake sarahs in our lives today we want the real one
08:41 <@emma> SarahCoinBit: yesterday morning you told everyone that MTgox was fine. our money is safe and there is no insolvency. Do you have anything to say to the people who trusted you and kept more money in Mtgox?

>>	Anonymous Tue Feb 25 03:44:57 2014 No.133935 File: 52 KB, 624x448, 1385168868873.jpg [View same] [iqdb] [saucenao] [google] >>133900 >08:33 <@emma> i dont even understand bitcoins >08:33 <@emma> i believed in what they said

Anonymous Tue Feb 25 03:45:27 2014 No.133938

(sarahcoinbit is a mtgox employee)
08:40 < SarahCoinBit> I did not get fired and i have never posted in reddit in my life
08:40 < Chillance> wait, what is going on?
08:40 < p15_> SarahCoinBit why is mtgox down
08:40 < usaoscoin> what on earth is going on....
08:40 < SarahCoinBit> I'm trying to find out now

08:41 < DeathScythe676> Sarah can you prove legit by opening real #mtgox channel? we've had too many fake sarahs in our lives today we want the real one
08:41 < heyyoo> 083228 -!- SarahCoinBit [~SarahCoin@mtgox/staff/SarahCoinBit] has joined ##mtgox-chat
08:41 < SarahCoinBit> DeathScythe676: I can't do that yet sorry

08:43 <@SarahCoinBit> Herodes: I work remotely. The system were down but somehave started to come back up. Am trying to find out what is happening
??????????????????????

>>	Anonymous Tue Feb 25 03:45:56 2014 No.133939 >>133935 http://en.wikipedia.org/wiki/Greater_fool_theory

>>	Anonymous Tue Feb 25 03:46:56 2014 No.133944 >>133938 This really speaks to the kind of operation they were running that the entire internet knows about mt. gox closing up shop before one of their employees did.

>>	Anonymous Tue Feb 25 03:47:26 2014 No.133946 08:45 < padawan123> hi sarah why the site is offline? 08:46 <@SarahCoinBit> padawan123: I'm trying to find out

>>	Anonymous Tue Feb 25 03:47:57 2014 No.133947 >>133900 idi_amin_laughing_boat.gif [filesize too large]

Anonymous Tue Feb 25 03:49:27 2014 No.133955

08:45 < suseno> SarahCoinBit: is this legit? www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
08:47 <@SarahCoinBit> suseno: I don't think so as the english is too good
(KEK)

08:48 < Herodes> if mtgox management is crooks, they would not care about any employees getting in legal trouble.
08:48 <@SarahCoinBit> Herodes: Delerium has been speaking to Mark
(delerium is another mtgox employee who is on ##mtgox-chat)

>>	Anonymous Tue Feb 25 03:49:27 2014 No.133956 >>133900 >and you will get sme of it i'm sure. >we will get it back denial in full swing i see.

>>	Anonymous Tue Feb 25 03:49:27 2014 No.133958 >>133926 Yes who could have foreseen Magic The Gathering Online eXchange would be ill suited to handling millions of $$ worth of transactions

Anonymous Tue Feb 25 03:50:56 2014 No.133961
File: 2.30 MB, 353x234, 1392319340701.gif [View same] [iqdb] [saucenao] [google]

>>133955
>08:45 < suseno> SarahCoinBit: is this legit? www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
>08:47 <@SarahCoinBit> suseno: I don't think so as the english is too good

>>	None !schlomoZmc Tue Feb 25 03:50:56 2014 No.133962 >>133958 no one

>>	Anonymous Tue Feb 25 03:50:56 2014 No.133963 >>132370 what separates fiat currency from digital currency in your opinion ?

Anonymous Tue Feb 25 03:51:26 2014 No.133965
File: 84 KB, 447x600, whycantholdallbulltraps.jpg [View same] [iqdb] [saucenao] [google]

>>133226
>It'll be so fucking nice to not have to deal with cryptocoins.

Have fun with your stripper-coke bills and little-kid-stck-it-up-butthole-once quarters and nickels. But for a sick fuck like you, that must be a bonus.

Anonymous Tue Feb 25 03:51:26 2014 No.133967
File: 315 KB, 484x393, pimpcat.png [View same] [iqdb] [saucenao] [google]

08:48 <@emma> SarahCoinBit: so why don't you find out when withdrawals will be resumed
08:49 <@SarahCoinBit> YabaDabaDoge: There is nothing to turn on and i ave no evidence whats so ever that anything dodgy has happend

>>	Anonymous Tue Feb 25 03:51:56 2014 No.133968 >>133958 MtG cards are much more viable currency than btc will ever be.

>>	Anonymous Tue Feb 25 03:52:56 2014 No.133976 >>133963 Backed by gubmint, not neets.

Anonymous Tue Feb 25 03:52:57 2014 No.133973

08:50 <@SarahCoinBit> tensai: There's nothing to come clean about
08:51 <@money> the us will deal with this
08:51 < funfare> great arbitrage opportunity right now with gox low.. does btc-E accept OK pay??
08:51 <@money> the US gov will get your monies
08:51 < wrostek> Yes, you guys are FUD mongering.. everything is fine

>>	Anonymous Tue Feb 25 03:53:27 2014 No.133979 File: 50 KB, 384x297, !.png [View same] [iqdb] [saucenao] [google] 08:41 < SarahCoinBit> 08:43 <@SarahCoinBit> Wait a minute.

>>	Anonymous Tue Feb 25 03:54:27 2014 No.133981 >>133979 she got opped by another op

>>	Anonymous Tue Feb 25 03:54:57 2014 No.133982 >>133967 >08:49 <@SarahCoinBit> YabaDabaDoge: There is nothing to turn on >There is nothing to turn on

>>	Anonymous Tue Feb 25 03:55:26 2014 No.133983 so what should be the official song of the great buttcoin collapse? http://buttcoin.org/this-is-how-royally-screwed-mt-gox-is-right-now fuck me

Anonymous Tue Feb 25 03:55:56 2014 No.133986

>>132521
deposited money yesterday normally shows up within 2 hours. waited all day, fell asleep, just woke to refresh mtgox and see my delicious balance. nope. deposits were apparently accepted, but then fucking didn't show up, then the site disappears.
now i'm eating gruel for months, and can't even afford to get drunk.

>>	Anonymous Tue Feb 25 03:56:26 2014 No.133989 >>133982 Not main screen even?

>>	Anonymous Tue Feb 25 03:56:26 2014 No.133990 >>133983 www.youtube.com/watch?v=nqLArgCbh70&hd=1

>>	Anonymous Tue Feb 25 03:56:26 2014 No.133993 >>133668 >what if i had 200 million in lehman bros back in 2007

>>	Anonymous Tue Feb 25 03:56:57 2014 No.133994 >>133986 screenshot or it didn't happen. nobody would be this stupid to deposit money into mtgox will all the fucking press and red fucking alerts on their homepage.

Anonymous Tue Feb 25 03:56:57 2014 No.133995

The denial in these people!

08:54 < wrostek> Seriously everything will be ok, the new code just caused a malfunction
08:54 < mdunc> There is absolutely no evidence of anything illegal going on. You all are freaking out over rumors and fear mongering. Wait for an official statement. Threatening to sue support staff? Give me a break.

>>	Anonymous Tue Feb 25 03:56:57 2014 No.133997 >>133983 http://www.youtube.com/watch?v=sBC_plvCRLk >>133981 Wait i thought sarah could OP herself? What's to prove that it's sarah then? It could be somebody doing damage control.

Anonymous Tue Feb 25 03:56:57 2014 No.133998

>>133265
>Google

You know, I seem to recall an emerging field of internet protocols back in the early 90's, some backed by Microsoft and IBM. Something unexpected happened and a few neckbeards ended up designing a technologically inferior protocol system that caught on for reasons that related to it not being backed by a big corportation. I think it was called something like HTTP, something like that. Maybe you heard of it, not sure.

Anonymous Tue Feb 25 03:57:27 2014 No.133999

>>133963

Fiat or private currency has an issuer, and that issuance entails what is called a "promise to pay," backed by laws applicable to the issuer.

Cryptocurrency hasn't got those. And it is precisely this that makes some people fans of cryptocurrencies.

>>	Anonymous Tue Feb 25 03:57:27 2014 No.134001 >>133986 how much did you lose nigga

>>	Anonymous Tue Feb 25 03:57:57 2014 No.134002 MTGOX HOME PAGE VIEW SOURCE >MTGOX HOME PAGE VIEW SOURCE MTGOX HOME PAGE VIEW SOURCE >MTGOX HOME PAGE VIEW SOURCE MTGOX HOME PAGE VIEW SOURCE <!-- put announce for mtgox acq here -->

>>	Anonymous Tue Feb 25 03:57:57 2014 No.134005 >>133994 i didn't take a screenshot because the funds hadn't shown up. i waited 13 hours before i couldn't stay awake any longer. now nothing.

>>	Anonymous Tue Feb 25 03:58:57 2014 No.134009 >>134002 <html> <head> <title>MtGox.com</title> </head> <body> <!-- put announce for mtgox acq here --> </body> </html> aw sheet

>>	Anonymous Tue Feb 25 04:00:26 2014 No.134019 >>134002 >>134009 What does acq mean here?

>>	Anonymous Tue Feb 25 04:00:56 2014 No.134020 File: 106 KB, 579x329, 1367964631893.jpg [View same] [iqdb] [saucenao] [google] >>133983 >buttcoin https://www.youtube.com/watch?v=vuyEgvCVYd8

>>	Anonymous Tue Feb 25 04:00:56 2014 No.134021 >>134002 >mtgox acq here >mtgox acquisition I'll be in tears if mtgox's static server got hacked, would explain why their api is running still. But i'm sure they'll still announce their bitcoins were all stolen to get away with murder.

>>	Anonymous Tue Feb 25 04:00:56 2014 No.134022 >>133995 link to that channel

>>	Anonymous Tue Feb 25 04:00:56 2014 No.134024 >>134002 this just in: Mt. Gox sells out to some godawful bank Bitcoins, now useable on your Chase card buy as much as you can now before the price explodes back up to $1500 again

>>	Anonymous Tue Feb 25 04:00:56 2014 No.134026 >>133983 http://www.youtube.com/watch?v=ZhbujyF3ZNI First 30 seconds of it.

>>	Anonymous Tue Feb 25 04:01:26 2014 No.134027 >>133983 http://www.youtube.com/watch?v=Z0GFRcFm-aY

>>	Anonymous Tue Feb 25 04:01:57 2014 No.134031 >>134019 acquisition as in "Conglomerate A acquired Company B in a hostile takeover"

>>	Anonymous Tue Feb 25 04:01:57 2014 No.134032 >>134021 that might make sense. apparently their support page is still up on a different domain: https://mtgox.zendesk.com/home if that's the case i wish i was verified on bitcoinbuilder

>>	Anonymous Tue Feb 25 04:01:57 2014 No.134033 >>134019 acquisition?

>>	Anonymous Tue Feb 25 04:02:57 2014 No.134038 >>134033 But who would buy them?

Anonymous Tue Feb 25 04:02:57 2014 No.134039

>>133976

like ''gubmint'' has your best interests at heart, they bail out banks who literally fuck you in the ass, they build up debt with said banks, wich you subsequently get to pay, then you also allow ''gubmint'' to fuck you in the ass.

what is boils down to is, bitcoin only 1 dick in ass, ''gubmint'' two dicks in the ass, i prefer one.

>>	Anonymous Tue Feb 25 04:04:00 2014 No.134047 doge rebounding i suggest you get in

>>	Anonymous Tue Feb 25 04:04:00 2014 No.134048 File: 12 KB, 220x220, idtst.jpg [View same] [iqdb] [saucenao] [google] >>134009 09:02 < suseno> yes as I predict, Mark will sell his company. And somebody will bail out all customer fund then do rebranding...

>>	Anonymous Tue Feb 25 04:04:27 2014 No.134044 >>134038 unsure, i'm not a programmer, perhaps that src code was there before the site went tits up

>>	Anonymous Tue Feb 25 04:04:27 2014 No.134045 so buttcoin is dead?

>>	Anonymous Tue Feb 25 04:04:27 2014 No.134046 >>134033 fud?

>>	Anonymous Tue Feb 25 04:06:28 2014 No.134055 >>134048 It's a diversion to let Mark leave the country.

>>	Anonymous Tue Feb 25 04:06:29 2014 No.134054 >>134038 a major bank obviously tomorrow is going to be huge. Bitcoin will be going to the moon

>>	Anonymous Tue Feb 25 04:06:58 2014 No.134058 >>134054 Or to a complete low if the bank doesn't offer proper refunds

Anonymous Tue Feb 25 04:07:28 2014 No.134059

>>134039

You might want to redo your inventory of bit-coin assdicks.

Even if we only count those that have have made headlines, there's quite a lot more than one out there, and the plan for tackling the problem appears to be "you are stupid because freedom."

Anonymous Tue Feb 25 04:07:59 2014 No.134061
File: 15 KB, 316x202, 1393102991513.jpg [View same] [iqdb] [saucenao] [google]

>>134048

>yfw angel investor turns out to be none other than satoshi nakamoto
>yfw satoshi is revealed to be one zuckerberg's facebook goons
>there is no escape
>you will be assimilated
>we are the borg

Anonymous Tue Feb 25 04:08:29 2014 No.134064
File: 40 KB, 283x305, no_honour.jpg [View same] [iqdb] [saucenao] [google]

08:48 <+emilsedgh> guys, i just read the new plan/announcement. but it said nothing about the lost coins. is there any plan to provide them or i should consider them lost?
09:02 <+aliasaila> well thats the thing. pretty much everyone has made an announcement except for gox
09:02 <+aliasaila> which leaves that shred of hope

>>	Anonymous Tue Feb 25 04:08:29 2014 No.134065 >>134047 Fuck off shill. I can't use your worthless meme coin to buy pain meds.

Anonymous Tue Feb 25 04:08:29 2014 No.134067
File: 305 KB, 454x600, happening identifyinh.png [View same] [iqdb] [saucenao] [google]

If only you had listened, faggots.

Now read this once more and learn something from it:

Every time I see a bitcoin thread, I just shake my head and laugh.

You severely damaged losers are literally the Bronies of /biz/. You know, that sub-group of 4chan kids who obsess over the preschool girl show My Little Pony? You probably don't know since all of you pathetic losers are far too busy fapping to monetary fantasies and wishing that bitcoin prices rize to 1000.

Why on earth would a group of you no-lives cling heavily to something as sad as this? Is there some sort of mental sickness in you guys? Did you not have a childhood? Do you not have a grasp on reality? How can you allow yourselves to deteriorate to this?

At first, I figured it was one lonely kid making these threads and bumping all day while crying in the basement for being such a useless waste of life... but then, I realized this isn't one kid doing this. There are at least fifteen of you in these threads that are getting hard over the prices of bitcoin. There isn't any doubt that all of you autists are fat, out of shape, and friendless.

Is that the thrill you kids get from these threads? Is it the fact that you can laugh and sing and can't even get off of your bed to empty out your piss bottle? Do you not realize that this board doesn't exist for you and your buttcoin? If not, then WHAT THE FUCK IS YOUR FIXATION?

I'm speaking for /biz/ as a whole, and possibly, your families as well. Just stop. This isn't healthy. Stop now and try to live a regular life. How embarrassed must your family feel when they have to explain to your aunt and uncle that you lost all your assets playing in the jewcoin market.

Just stop already. Quit with the silly threads. OP, delete this thread. Kids, clear your browser history and sell all the bitcoins you have.

I am telling you this because I am empathetic and I care. Please listen to me.

>>	Anonymous Tue Feb 25 04:08:59 2014 No.134066 >>134039 I prefer money I can buy things with.

>>	Anonymous Tue Feb 25 04:09:29 2014 No.134069 >>134047 Already bought friend.

>>	Anonymous Tue Feb 25 04:10:58 2014 No.134072 >>134064 whatst the IRC channel bro

>>	Anonymous Tue Feb 25 04:11:28 2014 No.134075 File: 103 KB, 456x445, happening.jpg [View same] [iqdb] [saucenao] [google] >>132353 Sent. :)

>>	Anonymous Tue Feb 25 04:11:28 2014 No.134077 >>134059 should it be, we bailout mt gox because theyre too big to fail ? Or would that be the exact opposite of what decentralised currency is about ? If you fail in business you go bust thats how it should be, failure cannot be rewarded.

Anonymous Tue Feb 25 04:12:28 2014 No.134079

So, they're all sticking to their guns and going anti-regulation. Good on them. But Mt. Gox didn't "fail" per se, right? I mean, the guys who did it made out like bandits. So they can act like this is a "Speed bump" and "a lesson to be learned" but really, there's absolutely nothing stopping me or anyone else from making a new exchange and fleecing the community again, right? I mean, you need an exchange to use these things, if I understand correctly.

>>	Anonymous Tue Feb 25 04:12:28 2014 No.134080 File: 67 KB, 499x474, doge-time.jpg [View same] [iqdb] [saucenao] [google] >>134075 /pol/ images are deprecated on /biz/

>>	Anonymous Tue Feb 25 04:13:28 2014 No.134086 >>134080 As expected from the rab/biz/ masters.

>>	Anonymous Tue Feb 25 04:13:29 2014 No.134085 >>134067 >I'm speaking for /biz/ as a whole, and possibly, your families as well. stopped reading there 7/10 good effort though

>>	Anonymous Tue Feb 25 04:13:58 2014 No.134088 >>134072 ##mtgox-chat and #mygox-signal Second one is quiet as fuck, first is a trollercauster. There was already a screenshot in here with that info...

>>	Anonymous Tue Feb 25 04:15:28 2014 No.134094 >>134088 alright i'm in. i've got my trollface on.

>>	Anonymous Tue Feb 25 04:15:58 2014 No.134097 >>134067 >empathetic of course throwing insults around, being condescending, and devaluing the people you want to reach out to would be the best option

>>	Anonymous Tue Feb 25 04:15:58 2014 No.134098 File: 234 KB, 440x450, happy merchant money.png [View same] [iqdb] [saucenao] [google] >>134080 Good goy disinfo

>>	Anonymous Tue Feb 25 04:16:28 2014 No.134102 >>134066 spendbitcoinsdotcom

>>	Anonymous Tue Feb 25 04:16:28 2014 No.134106 >>133439 >everybody runs in before people cash out at the top That is EXACTLY how the stock market works, and it is called a pyramid scheme. Ponzi schemes are not like that at all.

Anonymous Tue Feb 25 04:16:29 2014 No.134100

>>134077

wat?

no, absolutely let MtCocks fail. And absolutely let every single person and business who had any money remaining on their books get wiped out. And let every single employee for every business that was carrying a balance for any reason at all get fired.

Because "government sux."

>>	Anonymous Tue Feb 25 04:16:29 2014 No.134101 >>134079 Yes I guess maybe if a big establishment like a bank got involved, then there would be more trust.

>>	Anonymous Tue Feb 25 04:16:58 2014 No.134105 >tfw i had 1k btc on gox Haha, I knew it. I knew I wasn't meant for this, not cut out for this. That this was never supposed to happen to me. Money just isn't for the proles, like me. ;_;

>>	Anonymous Tue Feb 25 04:18:28 2014 No.134112 http://www.reddit.com/r/Bitcoin/comments/1yvnli/mtgox_is_being_acquired_they_have_just_updated/ OH SHIT

>>	Anonymous Tue Feb 25 04:19:28 2014 No.134119 File: 225 KB, 547x423, A1A.png [View same] [iqdb] [saucenao] [google] Investing in internet money was never a good idea

>>	Anonymous Tue Feb 25 04:19:28 2014 No.134120 Oh well I had invested 100€ in mtgox to make some gambling money, guess I lost the game. Should have listened to the retarded community crying wolf

Anonymous Tue Feb 25 04:19:59 2014 No.134121

@LtCrData - FAILED COIN FROM THE START. WOLONG IS A RESPECTED NAME FOR THE CHINESE COMMUNITY. WOLONG IS AN ALTERNATE NICKNAME FOR ZHUGELIANG AND WOLONG NATURE RESERVE, CHINA'S ONLY PANDA RESERVE. THIS COIN IS DOOMED TO BE FAILURE. I HAVE SPREADED IT THROUGHOUT CHINA AND HAVE ENSURE THAT YOU AIN'T GETTING ANY HASHRATE, IN WOLONG WE TRUST, DUMB FUCKS 4CHAN, BUNCH OF NOOBS WHO CAN'T DO SHIT. WITHOUT GETTING YOUR THINGS
CHEAP. CHINESE CHINESE, BITCOIN WILL NOT TRADE THAT HIGH NOW, WITHOUT CHINESE, YOU AIN'T ROCKS AND CHINESE KICKASSES. I AM CHINESE.
wat

>>	Anonymous Tue Feb 25 04:20:58 2014 No.134125 >>134121 >this new are you from SA or /pol/? because you are clearly not a /biz/aintine general.

Anonymous Tue Feb 25 04:20:59 2014 No.134124

(4:18:24 AM) LtCrData: FAILED COIN FROM THE START. WOLONG IS A RESPECTED NAME FOR THE CHINESE COMMUNITY. WOLONG IS AN ALTERNATE NICKNAME FOR ZHUGELIANG AND WOLONG NATURE RESERVE, CHINA'S ONLY PANDA RESERVE. THIS COIN IS DOOMED TO BE FAILURE. I HAVE SPREADED IT THROUGHOUT CHINA AND HAVE ENSURE THAT YOU AIN'T GETTING ANY HASHRATE, IN WOLONG WE TRUST, DUMB FUCKS 4CHAN, BUNCH OF NOOBS WHO CAN'T DO SHIT. WITHOUT GETTING YOUR THINGS
(4:18:25 AM) LtCrData: CHEAP. CHINESE CHINESE, BITCOIN WILL NOT TRADE THAT HIGH NOW, WITHOUT CHINESE, YOU AIN'T ROCKS AND CHINESE KICKASSES. I AM CHINESE.

>>	Anonymous Tue Feb 25 04:22:15 2014 No.134131 >>134079 buttcoiners will learn about regulations step by step

>>	Anonymous Tue Feb 25 04:22:15 2014 No.134132 >>134100 yes, a centralised banking system sucks, and if gox crashes, the coin will crash,value goes down, other (hopefully more responsible) parties buy up the rest, we have a new gox, hopefully better managed this time.

>>	Anonymous Tue Feb 25 04:22:44 2014 No.134130 >>133462 Yeah, I bet the guy telling his friend's Steve Jobs was just some lunatic hippy and would run Apple into the ground again in 1998 is feeling really good right now about being wrong to the tune of 5000% ROI.

>>	Anonymous Tue Feb 25 04:23:44 2014 No.134137 >>134112 It's standard strategy employed by scammers, delaying everything while they cash in their checks. Victims in denial usually laps it up right away.

Anonymous Tue Feb 25 04:24:15 2014 No.134144
File: 158 KB, 459x266, tumblr_n0dromeZ901s9s4yeo1_500.jpg [View same] [iqdb] [saucenao] [google]

>>134125

/g/ and /sp/. i'm just getting hyped for tonights champions league matches

btw you really need a better name than bizantines.

how about biznessmen?

>>	Anonymous Tue Feb 25 04:24:45 2014 No.134142 >>134039 The bank bailouts were all paid back with interest. Pay more attention.

>>	Anonymous Tue Feb 25 04:25:15 2014 No.134151 >>134144 how about argo-fuckyourself

>>	Anonymous Tue Feb 25 04:26:15 2014 No.134152 >>134144 >>134125 >/biz/raelis

Anonymous Tue Feb 25 04:27:44 2014 No.134158
File: 9 KB, 237x213, 1390603637197.jpg [View same] [iqdb] [saucenao] [google]

BTC will crash so hard and you will all bite your asses that you didnt invest into something a bit more stable.
You might get bucks now - if you sell. But you are not selling, you are holding while MtGoy rapes your market. Raped markets will crash, that's a natural law.
Stablecoin is meant to be stable, that's why it is a SAFE investment.
So why don't you become clever ONCE in lifetime and get your coins into a save habour like Stablecoin? I made $15k USD from Stablecoin, nobody made anything over $10 with that intrinsically worthless weeaboo satoshi shitcoin.
But because you can't into clever. Yes, have fun being raped by woolong.

Come at me! Try to hack me you worthless faggots and I'll shut down your fucking internet!

Anonymous Tue Feb 25 04:27:45 2014 No.134157

>>134144
i was making a reference to the byzantine generals' problem.

the quote was from wolong getting buttmad at PND, a /g/ troll coin created by our lovely dear leader amdoge.

wolong's name is gameofdeception on bitcointalk:
https://bitcointalk.org/index.php?topic=464476.msg5154527#msg5154527
he got SUPER MAD we made fun of his pandacoin by making a duplicate pandacoin

>>	Anonymous Tue Feb 25 04:30:15 2014 No.134167 >>134158 StableShill! Good to see you here for all this. How's tricks man. >mfw I've been reading this pasta for months and day trading and never once looked at SBC prices.

>>	Anonymous Tue Feb 25 04:31:15 2014 No.134170 File: 280 KB, 1574x746, mtgoxfraud.jpg [View same] [iqdb] [saucenao] [google] But to me it was obvious. Just looking at the html code of their website one could tell they used extremely poor programming practices.

>>	Anonymous Tue Feb 25 04:32:14 2014 No.134175 >>134170 >bit coin are you new?

>>	Anonymous Tue Feb 25 04:32:45 2014 No.134174 >>134137 oh .. shit I don't know who's jewing who any more. I'm gonna get some sleep and see what's up in a few hours. >>134152 now you're talkin

>>	Anonymous Tue Feb 25 04:33:14 2014 No.134177 fuck i got banned from the channel for trolling

>>	Anonymous Tue Feb 25 04:33:14 2014 No.134182 File: 5 KB, 150x150, dog.jpg [View same] [iqdb] [saucenao] [google] >>134170 How much are they paying you?

>>	Anonymous Tue Feb 25 04:33:44 2014 No.134181 09:32 < wrostek> Maybe Google Acquired them HAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHAHAHA breathes HAHAHAHAHAHAHAHAHAHHA

>>	Anonymous Tue Feb 25 04:34:45 2014 No.134184 http://www.bloomberg.com/tv/europe/ happening now

>>	Anonymous Tue Feb 25 04:39:44 2014 No.134198 >>134184 >turn on >this just in: Justin Beiber arrested it's bad enough MSNBC broke an interview with a senator talking about the NSA to report on this faggot, but Bloomberg doing it too while talking to the Mt. Gox faggot really annoys me

>>	Anonymous Tue Feb 25 04:40:17 2014 No.134199 >>134184 I watched 5 seconds and I already feel dumber. Damned US media!

>>	Anonymous Tue Feb 25 04:41:16 2014 No.134206 >>134182 12$/hr plus 100 USD for every percentage point drop

>>	Anonymous Tue Feb 25 04:41:45 2014 No.134202 read the whole thread. goodnight biz

Anonymous Tue Feb 25 04:42:15 2014 No.134209

>implying it won't be back within 3 hours
>implying they didn't get acquired, thus the downtime
>implying anyone lost any money
>implying the price of bitcoin won't go up after it comes back up
>implying the fear mongering HAPPENING haters aren't going to get told

>>	Anonymous Tue Feb 25 04:44:16 2014 No.134215 >>134209 There's a realistic chance that they announce that mostly everything is gone, that's the risk of buying in now. It will go back up regardless, question is when.

>>	Anonymous Tue Feb 25 04:44:16 2014 No.134222 >>134209 It's ok Mark, you can rest now.

Anonymous Tue Feb 25 04:44:46 2014 No.134217

>>134181
oh god lol

>>134077

>should it be, we bailout mt gox because theyre too big to fail ?

no because no one cares and should care about gamblers.

>>134039

yeah and look what happened when the gubmint decided not to bailout the banks, it made everything worse

>>	Anonymous Tue Feb 25 04:44:46 2014 No.134218 >>134209 maximum damage control

>>	Anonymous Tue Feb 25 04:45:46 2014 No.134224 >>134209 that would be nice, I could get some of my microcoins out

>>	Anonymous Tue Feb 25 04:53:46 2014 No.134263 >>133574 >silkroad is gone, so there is no use anymore Tell that to the hundreds of millions of people with cell phones in Asia, Africa, and South America.

Anonymous Tue Feb 25 04:55:16 2014 No.134274
File: 2.80 MB, 318x212, 1389037666707.gif [View same] [iqdb] [saucenao] [google]

>>133345
>Fractional reserve banking doesn't *need inflation
Fractional reserve banking is the main cause of inflation you dingus, well that mixed with loans that are never repaid. Go back to business school please!

>>	Anonymous Tue Feb 25 04:57:16 2014 No.134286 File: 570 KB, 1533x2300, clooney.jpg [View same] [iqdb] [saucenao] [google] It was an inside job. Here's a picture of the suspect.

>>	Anonymous Tue Feb 25 04:57:45 2014 No.134283 >>133574 You do know that silkroad is up, little cunt?

>>	Anonymous Tue Feb 25 04:59:16 2014 No.134290 So did Mt.Goy really steal everyone's money or is it true about them being "hacked" and having bitcoins stolen?

>>	Anonymous Tue Feb 25 04:59:46 2014 No.134288 >insolvent >price still going up >price still going up on the mtgox tracker The fuck is this? MTGox pump and dump bot still active?

>>	Anonymous Tue Feb 25 05:00:16 2014 No.134294 >http://www.reddit.com/r/Bitcoin/comments/1yv6ph/some_words_for_my_friends/ hahahahah

>>	Anonymous Tue Feb 25 05:05:17 2014 No.134312 10:03 <@epscy> I'm heartbroken, if we can't trust gox who can we trust?

>>	Anonymous Tue Feb 25 05:06:17 2014 No.134318 breaking through all kinds of resistance now, lucky I bought at 400!

>>	Anonymous Tue Feb 25 05:07:17 2014 No.134319 Whoever ends up buying/acquiring gox should turn it into a magic the gathering exchange for maximum kek

>>	Anonymous Tue Feb 25 05:08:17 2014 No.134321 >tfw its going up godamnit

Anonymous Tue Feb 25 05:13:46 2014 No.134334

>>134288
HAHAHAHAHAHHAHAHAHA

You grampafags will be clutching thy aortas when the prices of buttcoin rebound to la luna. FUD faggots don't realize price of insolvent goy has been priced in the past 2 weeks all along. Tonight was just the consolidation after the finalization. 400 was the bottom, hope some of you smart investorfags loaded up while you can.

See ya during lunar landing circa Summer '14!!!

Anonymous Tue Feb 25 05:14:46 2014 No.134338

can someone explain to me the appeal of bitcoin as a currency?

every website takes paypal and credit card and my bank will reimburse me if i get hacked and my funds drained

right now it seems everyone is only on bitcoin as a volatile commodity and has no interest in actually using it as a stable currency

Anonymous Tue Feb 25 05:17:46 2014 No.134347

>>134338
>right now it seems everyone is only on bitcoin as a volatile commodity and has no interest in actually using it as a stable currency

Exactly.

>can someone explain to me the appeal of bitcoin as a currency?

Secrecy. Which is why the only people who use it as a currency are people who use it to buy drugs.

Anonymous Tue Feb 25 05:19:47 2014 No.134357

>The new branding is already complete, and new services such as the
Bitpocket wallet are already developed and ready for deployment.
>With a new image, team, and offering we believe that it will be a
challenge, but is not impossible. The risks of not acting are incredibly
large and unpredictable.

>The acquisition comment tags
>They're relabeling themself
I'm rock hard for tears

>>	Anonymous Tue Feb 25 05:20:17 2014 No.134361 >>134347 so what exactly is the end payoff for people? It already hit like 1500 usd per coin at one point when will the ride end?

>>	Anonymous Tue Feb 25 05:22:17 2014 No.134370 File: 42 KB, 403x437, 1393323727269.jpg [View same] [iqdb] [saucenao] [google] I never know when to sell but i sure as hell know when to buy and now is a great time to buy.

>>	Anonymous Tue Feb 25 05:22:46 2014 No.134372 >>134338 >http://www.overstock.com/bitcoin >http://guardianlv.com/2014/02/bitcoin-declared-lawful-money-in-california-assembly-video/ Learn your fate, you decrepit serf.

>>	Anonymous Tue Feb 25 05:25:16 2014 No.134384 >>134370 >now is a great time to buy welcome to 2 hours ago

>>	Anonymous Tue Feb 25 05:27:17 2014 No.134392 >>134372 the end goal seems to be for 1 bitcoin to be worth thousands of dollars in USD, why would anyone want to use that? Especially when credit cards and bank accounts while not hack proof can be reimbursed

>>	Anonymous Tue Feb 25 05:27:46 2014 No.134389 (5:26:05 AM) Jan1503: and when gox goes to brancruptcy, he renames it to "ox" / he should have picked a longer name, only 2 more bankruptcys to go

>>	Anonymous Tue Feb 25 05:29:17 2014 No.134396 >>134389 >implying it won't become Goy.com

>>	None !schlomoZmc Tue Feb 25 05:30:47 2014 No.134403 File: 113 KB, 1080x384, 1393324241957.png [View same] [iqdb] [saucenao] [google] oh wow

>>	Anonymous Tue Feb 25 05:32:47 2014 No.134411 http://en.wikipedia.org/wiki/List_of_suicide_crisis_lines

>>	Anonymous Tue Feb 25 05:33:17 2014 No.134417 >>134403 Bitcoin Status: Child Ruiner Seriously though, fuck any parent who gambles with their child funds.

>>	Anonymous Tue Feb 25 05:33:17 2014 No.134418 >>134403 He deserved it. So fucking stupid.

>>	Anonymous Tue Feb 25 05:34:46 2014 No.134427 >>134403 How did these people convince themselves they weren't gambling?

>>	Anonymous Tue Feb 25 05:34:47 2014 No.134424 >>134403 Ha, what a moron.

>>	Anonymous Tue Feb 25 05:34:47 2014 No.134425 >>134403 Any one dumb enough to let a website hold onto there life savings deserves to have it all taken away. The whole point of bitcoin was to be your own banker.

>>	Anonymous Tue Feb 25 05:35:17 2014 No.134429 >>134403 haha, this always happens when bitcoin takes a dive or some site gets hacked or some scam finally reveals itself, either way bitcoin is quite fucking risky, but with risk of course can come unmeasurable reward

Anonymous Tue Feb 25 05:35:46 2014 No.134431

>>134392

>doesnt understand the concepts of interest and getting AWAY from credit

Why not?

Bitcoin will continue to get even harder and more expensive to mine as each minute passes, and thus prices will continue to climb concurrently. There will always be bumps along the road (as with any market), but the supply simply cannot and will not satiate demand from a global perspective.

Soon as more large scale organizations hop on the inevitable choo choo train, there is no conceiving what kind of prices buttcoin will see even 2 to 3 years from now.

It has just begun.

>>	Anonymous Tue Feb 25 05:36:46 2014 No.134437 >>134431 >and more expensive http://en.wikipedia.org/wiki/Greater_fool_theory

>>	Anonymous Tue Feb 25 05:37:16 2014 No.134439 >>134431 b-but im pretty sure thats not how currency is supposed to work

>>	Anonymous Tue Feb 25 05:37:46 2014 No.134441 We peercoin/primecoin now >dat technical superiority >dat slow, steady stealth growth >dem cunningham chains, oh boy dem elusive 10 chains

>>	Anonymous Tue Feb 25 05:38:46 2014 No.134445 >>133496 It's "A jew screams in pain as he stabs you in the back" actually.

>>	Anonymous Tue Feb 25 05:39:16 2014 No.134453 >>134427 Echo chambers.

>>	Anonymous Tue Feb 25 05:39:46 2014 No.134451 >>134403 HAHAHAHAHAHA FAGGOT

>>	None !schlomoZmc Tue Feb 25 05:39:46 2014 No.134452 File: 25 KB, 394x458, 1393324778559.jpg [View same] [iqdb] [saucenao] [google] >>134445 We don't really do that

Anonymous Tue Feb 25 05:42:17 2014 No.134462

>>134437
>http://en.wikipedia.org/wiki/Greater_fool_theory

What about the concept of greater capitol and time invested = higher scaled pricing do you not get?

gtfo with the tulip_mania_analogy.txt samefaggotry

There are businesses in china with tens of hundreds of millions invested solely in super computing mining farms just to get this shit. Even if amerifags lose faith, the chinese market won't let it sink.

And I expect them not to, seeing as they've been making all the right economic decisions since ___insert any arbitrary date from the past decade here___ , while the rest of the world continues to toil in their own shit.

>>	Anonymous Tue Feb 25 05:43:17 2014 No.134464 >>134452 I know you don't really scream, but that's the proverb goes.

>>	Anonymous Tue Feb 25 05:44:47 2014 No.134467 SO when should I buy in? Any guesses what the bottom might be?

>>	Anonymous Tue Feb 25 05:45:16 2014 No.134473 >>134467 >>implying he didn't already miss it

>>	Anonymous Tue Feb 25 05:46:17 2014 No.134481 >>133933 >price falling Nope.jpg

>>	Anonymous Tue Feb 25 05:47:17 2014 No.134487 >>134467 it maxed at 1600 i think at some point earlier this year before the chinese gubmint ruined the party, has it ever gotten close to that much since then?

Anonymous Tue Feb 25 05:51:16 2014 No.134503

>>133588
if you followed stocks you'd know that lots of them soar after bad news and plummet after good news.

just look at stocks like amd and amazon the markets and how stocks go down after mergers and up after splits, the investment beast is a strange one

>>	Anonymous Tue Feb 25 05:52:17 2014 No.134507 File: 2.53 MB, 500x282, 1356696733296.gif [View same] [iqdb] [saucenao] [google] >>134403 NEVER INVEST ANYTHING YOU CAN'T AFFORD TO LOSE OUTRIGHT HOW CAN PEOPLE BE SO STUPID?

Anonymous Tue Feb 25 05:52:17 2014 No.134508

>>134467

In all honesty, I say wait it out a day....if it dips anywhere in the 4xx range LOAD UP. Do not wait! That is going to be the low. After all the dust has cleared and people realize that nothing fucking changed from what we already knew for the past few months, it will be back up to 700...then soon thereafter into the 800's and eventually to quads by summertime.

Printscreen it. Do what you need to do. Everytime btc has experienced a crash, it bounces back harder than ever.

>>	Anonymous Tue Feb 25 05:54:16 2014 No.134520 How do you convert a bitcoin to real money? >>134403 Has to be a troll.

>>	Anonymous Tue Feb 25 05:56:16 2014 No.134523 >>134508 >Everytime the housing market has experienced a crash, it bounces back harder than ever.

>>	Anonymous Tue Feb 25 05:56:47 2014 No.134522 >>134520 Sell it on Coinbase or some other exchange for USD.

>>	Anonymous Tue Feb 25 05:57:17 2014 No.134527 >>134522 or localbitoins/in-person (you can print a paper btc wallet that 'looks and functions' like fiat

>>	Anonymous Tue Feb 25 05:58:17 2014 No.134528 >>134523 No it didn't.

Anonymous Tue Feb 25 05:59:17 2014 No.134533

The most prominent Bitcoin exchange appeared to be on the verge of collapse late Monday, raising questions about the future of a volatile marketplace.

On Monday night, a number of leading Bitcoin companies jointly announced that Mt. Gox, the largest exchange for most of Bitcoin’s existence, was planning to file for bankruptcy after months of technological problems and what appeared to have been a major theft. A document circulating widely in the Bitcoin world said the company had lost 744,000 Bitcoins in a theft that had gone unnoticed for years. That would be about 6 percent of the 12.4 million Bitcoins in circulation.

While Mt. Gox did not respond to numerous requests for comments, and the companies issuing the statement scrambled to determine the exact situation at Mt. Gox, which is based in Japan, the news helped push the price of a single Bitcoin below $500 for the first time since November, when it began a spike that took it above $1,200.

But at the same time that the news about Mt. Gox was emerging, a New York firm announced plans to create an exchange that could draw the world’s largest banks into the virtual currency market for the first time.

http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?hp

>>	Anonymous Tue Feb 25 06:00:18 2014 No.134544 >>134523 Let me know when they ever develop a limited hard cap on the total amount of houses created, or the difficulty of building increases. Let me guess...the cost of wetback labor from Home Depot has substantially increased?

>>	Anonymous Tue Feb 25 06:00:18 2014 No.134546 File: 22 KB, 274x280, 1361438261638.jpg [View same] [iqdb] [saucenao] [google] MtGox should have died after the $13 -> $1 crash when they got hacked. The world would be a much better place.

>>	Anonymous Tue Feb 25 06:00:47 2014 No.134542 File: 474 KB, 320x240, typical bitcoin investor.gif [View same] [iqdb] [saucenao] [google] >let's invest our life savings into unregulated online drug money! What could go wrong?

>>	Anonymous Tue Feb 25 06:00:47 2014 No.134543 >>132941 top hue

Anonymous Tue Feb 25 06:03:17 2014 No.134559

>>134528

That's the point, numbnuts. All these bitcoin pushers keep insisting that because the price has gone up in the past after a crash, that it will always do so. Just like how for a long time it was considered common knowledge that the housing market always went up, so it was safe to sell junk mortgages.

Well, it wasn't. Eventually the housing market did crash and not recover. And the same will be true of Bitcoin. If not now, then in the future.

>>	Anonymous Tue Feb 25 06:05:17 2014 No.134570 File: 44 KB, 590x500, 1378813226031.jpg [View same] [iqdb] [saucenao] [google] >tfw you put a minuscule amount of money in, saw it rise to unimaginable highs, and in the end never got anything out Should have played Farmville instead.

Anonymous Tue Feb 25 06:06:17 2014 No.134576
File: 1.41 MB, 350x272, 1393258212002.gif [View same] [iqdb] [saucenao] [google]

get fucking rekt
I hope all the current coins die horrible deaths.

Then I hope a new coin without all the bullshit and flaws emerges a few years later and becomes the futuristic "Credit" we've been waiting for. I hope they learn from their mistakes.

Anonymous Tue Feb 25 06:07:17 2014 No.134580

>>134559
The thing is though, that Bitcoin is rapidly gaining adoption in the marketplace despite anything that is happening to the price right now.

It actually has real-world applications to propel it forward now.

It will be months before we see any significant rise in the price again, maybe even a year, but Bitcoin isn't going anywhere. The cat is out of the bag.

Even if Bitcoin did die, the technological innovation is presented will live on in one form or another. Either a second generation coin with better features and security will take its place, or the banks will come up with something like it (they have already tried to patent it.)

>>	Anonymous Tue Feb 25 06:07:47 2014 No.134583 leave it to a jew to ruin something good

>>	Anonymous Tue Feb 25 06:08:16 2014 No.134586 >>134576 Someone is launching Credit coin soon, actually.

>>	Anonymous Tue Feb 25 06:08:46 2014 No.134592 >>134283 That's silkroad 2.0, not done by the original dumbass, and quite possibly an FBI probe. You're a fucking moron if you use silk road today.

>>	Anonymous Tue Feb 25 06:09:46 2014 No.134598 >>134592 Not him, but Silk Road 2.0 got hacked recently. Shitload of Bitcoin gone.

>>	Anonymous Tue Feb 25 06:09:46 2014 No.134600 >>134586 Yeah but its not the same, just another bitcoin fork with different variable/hashes.

>>	Anonymous Tue Feb 25 06:10:17 2014 No.134602 >>134334 >investorfags >touching cryptocoins... ever Nope, you don't understand the difference between gambling and investing. Enjoy being a poorfag for the rest of your life.

Anonymous Tue Feb 25 06:11:47 2014 No.134608

>>134580

Any currency as volatile as BitCoin has been to date will never see widespread adoption, despite the furious, masturbatory insistence of its greatness by /tek/ goons and redditors. At best it'll become a minor player in the commodities market.

Perhaps some other, more stable cryptocurrency will become useful at some point in the future, although I personally wouldn't hold my breath. But it won't be BitCoin and whatever it is will not be the get-rich-quick-scheme that anon was claiming BitCoin still is.

Anonymous Tue Feb 25 06:12:17 2014 No.134616

>>134064

Which rich fuck would bother to bail gox out of at least $350M worth of debt? I don't even know if they have a way to verify each persons claim on a coin. Even if they did, how many users would they have to go through. It's a fucking mess and it literally can not be fixed, it is WAY fucking easier to just dust your hands off and walk away.

It would be the ULTIMATE publicity stunt though. Think about it. Good guy philanthropist billionaire offers bailout for absolute control of profits and earnings from gox? He shells out a miniscule amount of shekels and sets up his ancestors for life.

I'd probably do it if I had a spare billion or two lying around, but I don't. Maybe Bill Gates can get in on this shit and redirect the majority of the profits towards charitable avenues. Use the coin for all the "good in the world" that the retarded fanboy neckbeards claim it to be for.

Bitcoin is literally and always will be >investingforplebs that's why it's so fucking volatile.

>>	Anonymous Tue Feb 25 06:13:47 2014 No.134621 >>133864 The coders or the entire network could decide to reroute those back or to prune the address. Bitcoin is a living breathing digital ecosystem.

>>	Anonymous Tue Feb 25 06:14:47 2014 No.134626 File: 28 KB, 298x298, mtgox.jpg [View same] [iqdb] [saucenao] [google] How does it feel goyims, that a Jew made off with all your buttcoins?

>>	Anonymous Tue Feb 25 06:15:47 2014 No.134636 >>134626 Time to buy bitches

>>	Anonymous Tue Feb 25 06:16:47 2014 No.134643 >>134544 >artificial scarcity of a worthless object === $$$$$$$ Yes, bitcoinfags are this stupid.

>>	Anonymous Tue Feb 25 06:16:47 2014 No.134644 >>134636 it hit bottom more than 2 hours ago. Already back over 500

Anonymous Tue Feb 25 06:17:46 2014 No.134651

>>134507
>HOW CAN PEOPLE BE SO STUPID?

Sometimes I feel that schools purposely refrain from teaching kids about finance, taxes, being frugal etc. because everyone from the government to the big businesses profit from them being ignorant in such matters.

>>	Anonymous Tue Feb 25 06:18:17 2014 No.134657 File: 924 KB, 2912x2008, 1392561333474.jpg [View same] [iqdb] [saucenao] [google] >>134626 pic >>134636 goy who never learns or jew shilling to raise prices

>>	Anonymous Tue Feb 25 06:18:17 2014 No.134658 >>134598 Then 200% moron if you fucking touch Silkroad 2.0

>>	Anonymous Tue Feb 25 06:19:17 2014 No.134661 File: 983 KB, 500x280, 1393281344573.gif [View same] [iqdb] [saucenao] [google] >Mt. Gox owners' face when

>>	Anonymous Tue Feb 25 06:20:07 2014 No.134664 >>134644 Tell me if you ever know what the smart money is doing, like the Vanderbilts. My bet? >cashing out Enjoy holding the bag.

>>	Anonymous Tue Feb 25 06:20:37 2014 No.134666 Expect another rise or decline once MtGox releases a statement on the rumored missing 750k BTC

>>	Anonymous Tue Feb 25 06:21:37 2014 No.134671 >>134651 >Sometimes I feel that schools purposely refrain from teaching kids about finance, taxes, being frugal etc. Of course. Everyone needs to CONSUME and live above their means. They can't be educated to learn that this is bad.

>>	Anonymous Tue Feb 25 06:23:06 2014 No.134688 >>133900 see you at mcdonald emma!

>>	Anonymous Tue Feb 25 06:24:37 2014 No.134689 File: 16 KB, 586x101, lel.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 25 06:24:37 2014 No.134690 File: 37 KB, 564x181, Untitled.jpg [View same] [iqdb] [saucenao] [google] Do these people like...learn that bitcoin doesn't work due to the amount of hacking and stealing that has happened in the past? Or is it just possible to jew them over and over.

>>	Anonymous Tue Feb 25 06:25:37 2014 No.134695 >>133938 its so fucked

>>	Anonymous Tue Feb 25 06:25:37 2014 No.134698 http://www.mtgox.com/cold/storage/wallet.dat TOPPEST OF KEKS

>>	Anonymous Tue Feb 25 06:26:07 2014 No.134703 File: 21 KB, 400x553, 1319257651057.jpg [View same] [iqdb] [saucenao] [google] >>134698 >http://www.mtgox.com/cold/storage/wallet.dat Here we go

>>	Anonymous Tue Feb 25 06:27:07 2014 No.134717 >falling for the electric jew when literally everyone with half a shred of intelligence knew it wouldn't last forever and didn't bother leaving as soon as it was apparent the boat was starting to sink long before this i only have laughter at you folks.

Anonymous Tue Feb 25 06:27:36 2014 No.134708
File: 465 KB, 245x118, 1378968214736.gif [View same] [iqdb] [saucenao] [google]

>>134690
>Mt Goy is gone, now bitcoin can be a real currency.

I bet they didn't even fix the double withdrawal exploit or the 51% of miners can take over and rewrite transactions thing.

>>	Anonymous Tue Feb 25 06:27:36 2014 No.134710 >>133900 >08:33 <@emma> i dont even understand bitcoins Oh Christ.

>>	Anonymous Tue Feb 25 06:27:36 2014 No.134713 >>134698 http://www.mtgox.com/hot/storage/niggerdick.dat

>>	Anonymous Tue Feb 25 06:28:06 2014 No.134726 File: 20 KB, 390x470, 1333494673605.png [View same] [iqdb] [saucenao] [google] isn't it fun when peoples lifes get ruined

Anonymous Tue Feb 25 06:28:36 2014 No.134722

>>134671
Well, actually... teaching people about finances is hard.

It's dangerous, you teach people a little about finances, and they think they know more then they actually do, and make -worse- choices. I believe this is the applicable Freakonomics podcast on the subject:
http://freakonomics.com/2012/01/31/financial-literacy-solutions-information-design-edition/
http://freakonomics.com/2013/06/07/the-persistence-of-financial-illiteracy/
http://fbe.unimelb.edu.au/calendar/events/public/2013/public_lecture_in_shanghai_by_professor_paul_kofman

>>	Anonymous Tue Feb 25 06:29:06 2014 No.134731 https://twitter.com/gox_com

>>	Anonymous Tue Feb 25 06:29:06 2014 No.134732 File: 192 KB, 630x727, 1387337969511.jpg [View same] [iqdb] [saucenao] [google] >>133986 I'll send you some moonshine in the mail bitch!

>>	Anonymous Tue Feb 25 06:30:37 2014 No.134733 File: 30 KB, 400x400, 1391478241349.jpg [View same] [iqdb] [saucenao] [google] >>134726 dat schadenfreude

Anonymous Tue Feb 25 06:32:06 2014 No.134744

>>134643

>>cluelessfag who pretends to know how crypto system and mining works but has no clue

BTC will continue to prove the doubters wrong. I capped this for ultimate lulbait a few months from now.

You grampafags just mad cuz you stay slavin' like the goyim you are because you refuse to accept evolution, whilst smart niggs be daytradin' alts, getting prime esophagus from the choicest koreaboos.

sux2bubrah

>>	DOGEPOWER Tue Feb 25 06:33:07 2014 No.134747 File: 111 KB, 650x1182, 1393328021231.jpg [View same] [iqdb] [saucenao] [google] jp.linkedin.com/pub/satoshi-nakamoto/87/921/a6

>>	Anonymous Tue Feb 25 06:33:07 2014 No.134750 >>134338 >right now it seems everyone is only on bitcoin as a volatile commodity and has no interest in actually using it as a stable currency That's why Dogecoin is the future.

>>	Anonymous Tue Feb 25 06:34:06 2014 No.134754 >>134698 yeah no you can't be serious

Anonymous Tue Feb 25 06:34:06 2014 No.134756
File: 16 KB, 303x245, sun-rise-sushi.png [View same] [iqdb] [saucenao] [google]

>>133998
I hear this mentioned a lot but for the life of me I can't find anything on google about competitors to http backed by IBM or Microsoft. Mind helping an amateur internet historian out by naming them?

Anonymous Tue Feb 25 06:35:07 2014 No.134760

>>134744
I'd screencap this, but there's too much bitcoin faggotry to attempt to screencap and post in the future. Enjoy your "investment". Do tell me how it works out for you in 5 years.

>meanwhile, 5 years of dividends from good strong companies, and improving fundamentals

>>	Anonymous Tue Feb 25 06:35:37 2014 No.134757 >>134750 dogecoin is also a commodity

>>	Anonymous Tue Feb 25 06:35:37 2014 No.134758 >>134403 >Trusting a drug dealer scam network with life's savings WHY.jpg

Anonymous Tue Feb 25 06:36:37 2014 No.134762
File: 301 KB, 800x930, 1393328184747.jpg [View same] [iqdb] [saucenao] [google]

>>134726
Holy shit this. I've been through a lot on the internet. Mostly on 4chan. I kind of imagine this to be along the lines of epic happenings in the BBS days back before the turn of the millenia.

There was snacks, cracky, boxxy, 34 mill botget on /b/. There was the party van, the mass murderers, occupyfags and everything inbetween.

Nothing, and I mean nothing, could compare to the absolute joy I feel when witnessing this entire debacle unfold and realising just how many potential futures got ruined by simply losing a hard drive.

Words can't describe it. It's just too much, i'm fucking euphoric. This is my greatest experience on the internet ever.

>bitcoins = investing for plebs
>all the smart people are running businesses that abuse, but don't rely upon the absolute army of dumbasses that swallow this shit up.
>mfw this is literally a microcosm experiment proving the absolute ignorance of so many people right now

God damn, I feel good.

4chan has literally twisted my soul. And I don't care.

>>	Anonymous Tue Feb 25 06:38:36 2014 No.134769 >>134762 >i'm fucking euphoric my fedoras are tipping on their own

>>	Anonymous Tue Feb 25 06:38:37 2014 No.134767 > This request is awaiting assignment to a support agent fucking hell gox supportdesk, i've been waiting like 30 minutes. surely it won't be too much longer.

>>	Anonymous Tue Feb 25 06:38:37 2014 No.134768 >>134762 <tips fedora>

>>	Anonymous Tue Feb 25 06:39:36 2014 No.134773 >>134762 so dark&edgy mate

>>	Anonymous Tue Feb 25 06:40:36 2014 No.134777 >>134767 >Thinking Mt Gox will ever give back your shekels Bitcoinfags are really this stupid.

>>	Anonymous Tue Feb 25 06:41:06 2014 No.134785 File: 58 KB, 424x354, edgemax.gif [View same] [iqdb] [saucenao] [google] >>134762 >4chan has literally twisted my soul. And I don't care.

>>	Anonymous Tue Feb 25 06:43:36 2014 No.134791 >>134760 >wallowing in poorfag goyim financial investments >possibility of 100% ROI over 10 years putting blind faith in corporations with zero control? lulz nothx brb over 500% in 6 weeks daytrading 2 satoshi penny alts. Yeah. Uh. Nothx.

>>	Anonymous Tue Feb 25 06:46:06 2014 No.134805 So... Where's the mtgoy owner? What is going to happen to him?

>>	Anonymous Tue Feb 25 06:47:06 2014 No.134808 >>134767 Anyone still using MtGoyim after all the shit they've pulled in the past deserves to lose their GoyCoins.

>>	None !schlomoZmc Tue Feb 25 06:48:36 2014 No.134809 >>134805 He's gong into hiding

>>	Anonymous Tue Feb 25 06:49:07 2014 No.134811 >>134809 Ooh exciting

>>	Anonymous Tue Feb 25 06:49:37 2014 No.134814 File: 72 KB, 576x413, happening.jpg [View same] [iqdb] [saucenao] [google] >>132353 This makes me feel warm and fuzzy inside

>>	Anonymous Tue Feb 25 06:51:07 2014 No.134823 >>134809 presumably to escape the bitcoin-hired assassins after his head for being such a tremendous fuckup.

Anonymous Tue Feb 25 06:51:37 2014 No.134819

>>134791
>Discounting 7% annualized returns in favor of speculative nonsense.
>Discounting the power of compounding interest, the most powerful law in the universe.
>Going for 100% risky "investments", and constantly being burned.

Yes, bitcoinfags are really this stupid.

>>	Anonymous Tue Feb 25 06:51:37 2014 No.134820 this will end well: https://bitcointalk.org/index.php?topic=486573.0

>>	Anonymous Tue Feb 25 06:52:37 2014 No.134828 >>134820 >Yeah that wouldn't harm BTC at all would it Lel he cares more about bitshekels than justice Hahaha

>>	Anonymous Tue Feb 25 06:53:55 2014 No.134832 >>134805 Sunbathing in the bahamas, pocket laden with neet money and tears.

>>	Anonymous Tue Feb 25 06:54:25 2014 No.134833 >tfw this drags LTC down as well >tfw didn't sell them when they were at 26 >tfw didn't sell them when they were at 22 >tfw now they are at 12 why am I so lazy?

>>	Anonymous Tue Feb 25 06:55:25 2014 No.134837 >>134833 >why am I so lazy? That's not how you spell stupid.

>>	Anonymous Tue Feb 25 06:56:55 2014 No.134841 File: 205 KB, 518x536, 1391395524970.jpg [View same] [iqdb] [saucenao] [google] >>134819 >744,408 Bitcoins evaporated or went to some jew's wallet or were stolen >3.5% of all the bitcoins that are ever allowed to be made >Almost a billion USD

>>	Anonymous Tue Feb 25 06:56:55 2014 No.134843 >>134837 I just couldn't be arsed to make an account on bitstamp.

>>	Anonymous Tue Feb 25 06:58:24 2014 No.134855 >>134841 C'mon, let's make it a thing. >Coinfags really are this stupid.

>>	Anonymous Tue Feb 25 06:59:24 2014 No.134857 >>134819 >Sorry, can't hear you over the sound of my over 4,000% gainz on mint in the past week alone ITT: Goyimfags: peanut butter n' jelly.

>>	Anonymous Tue Feb 25 07:00:55 2014 No.134859 >>134833 >>134843 >lazy more like greedy jewing 101 : greed is your servant, not your master. >>134855 >denial

Anonymous Tue Feb 25 07:00:55 2014 No.134860

>>134820
has potential. I'm not creating a username for this board, but someone should definitely post a reply to this:

Posts like this are absolutely intolerable.

The mere fact that you even remotely connect the value of money to that of a human life shows what mental incapabilities you have.

Tell us your name and adress, so that I can report you to your local police.

/////////

reply as follows for longterm lulz:

pay to get him doxxed with BTC,

>>	Anonymous Tue Feb 25 07:00:55 2014 No.134861 File: 9 KB, 816x114, 2014-02-25_17-59-36.png [View same] [iqdb] [saucenao] [google] >>134833 >sold some coinc at 32 >feles good

Anonymous Tue Feb 25 07:01:54 2014 No.134868

>>134616

WhatsApp was bought for $19billion

Imagine a company has lots of bitcoins and would increase their dollar value by >$350million, compared to now, if they bail out MtGox and gain trust again

So a company with ~240000 BTC would make a profit if the price of bitcoin rises from $500 to $2000.

Anonymous Tue Feb 25 07:04:24 2014 No.134874

>>134833
> bought at .56p
> sold at £42
> new car, thanks ltc
i spent 20ltc funding mtgox yesterday. was the last of my shiz. now i've got 0.1, and 0.02btc. took me 16 months to get this far.

fuck it all. mtfux is simply regrouping, building new wallets, selling all the coins on the gox to cover costs, ready to relaunch, with my delicious funds awaiting me. any moment now.

>>	Anonymous Tue Feb 25 07:04:54 2014 No.134877 >>134868 but you're basically paraphrasing what i've already said for the whole of today.

>>	Anonymous Tue Feb 25 07:07:55 2014 No.134888 >>134874 >now i've got 0.1, and 0.02btc. took me 16 months to get this far. what the fuck am i reading

>>	Anonymous Tue Feb 25 07:08:54 2014 No.134891 >>134820 are moralfags really this dumb? They're whinging about a call for murder on a board for the flagship "anonymoose" monetary exchange system designed to protect assassins and drugdealers. >b-b-but you can't kill him, h-he did n-nothing wrong.

>>	Anonymous Tue Feb 25 07:09:54 2014 No.134895 >>134888 0.1ltc, 0.02btc, all i've got left to my name after losing all my goxfunds. 350 btc and like 600 ltc have been in my wallets, now i have fuck all, except a new car, which is shit. it's also japanese, which rubs soy sauce into the wound.

Anonymous Tue Feb 25 07:11:55 2014 No.134901

>Mt. Gox officials did not answer the telephone or respond to email requests for information. The concierge at the home of the chief executive, Mark Karpeles - an upscale apartment in the Shibuya district - said he was not answering his intercom. His mailbox was so stuffed with mail that the flap would not close.

So, what tropical island is he sitting on, enjoying his riches?

>>	Anonymous Tue Feb 25 07:12:26 2014 No.134903 How to spend prepaid visa and buy btc? Fuck the fed.

>>	Anonymous Tue Feb 25 07:12:55 2014 No.134906 >>132936 He's only tellin' jokes, m8. With that said, being the highest public exchange by volume also helps.

>>	Anonymous Tue Feb 25 07:13:54 2014 No.134911 >>134877 must have overread it. nice dubs!

>>	Anonymous Tue Feb 25 07:14:24 2014 No.134912 >>134487 lol everytime you losers quote the price gets higher, as prices get lower/higher it becomes harder to buy or sell because the volumes start to get small and the time window is almost nothing, and the highest it ever got was 1200

>>	Anonymous Tue Feb 25 07:15:24 2014 No.134913 >>134868 Potential investors include a man who recently just acquired 700k coins from honest dealings.

Anonymous Tue Feb 25 07:16:25 2014 No.134918

>>133013

>Bitcoin is unsafe as fuck, and there are no laws governing it.
Gold hoarding was banned by the US in the 40s. Does that make it safe?
>Only reason why we went over 250$ was China, and they said no. Russia said no, and few other shitholes banned it too, and we are still this damn high?
Yes, because as you said, they're shitholes. You honestly think Thailand has a considerable impact on a digital currency? A digital currency, mind you, that all they have done is say "no guys you can't use it"?
>This is no real currency, it's a gamble and most people are going to get burned hard.
Until it reaches 21 million. See you at the moon, m80

>>	Anonymous Tue Feb 25 07:16:25 2014 No.134919 >people think this is about bitcoin >not realizing this is about Mt.Goy Bitcoin is okay. Other exchanges don't have a problem.

>>	Anonymous Tue Feb 25 07:17:25 2014 No.134920 >>134559 There's still a very hard bottom on house prices, I know went house shopping last year. They'd rather tear houses down than sell them for too low.

>>	Anonymous Tue Feb 25 07:17:55 2014 No.134922 >>134919 >Other exchanges don't have a problem so far. FTFY

>>	Anonymous Tue Feb 25 07:18:25 2014 No.134924 File: 2.28 MB, 1613x1210, dealwithit.png [View same] [iqdb] [saucenao] [google] coming through

>>	Anonymous Tue Feb 25 07:19:55 2014 No.134927 >>134924 Won't he have to pay a lot tax for it though? Also buying a supercar is so new money. It's embarassing.

>>	Anonymous Tue Feb 25 07:20:25 2014 No.134928 >>134919 Except each and every one of them have the power to do gox shennanigans themself. It's just the matter of when they're going to cash in their checks.

>>	Anonymous Tue Feb 25 07:21:25 2014 No.134932 >>132444 as a regular /o/ visitor i can confirm that it was in fact legit and the guy had been posting about the run-up to buying it up until actual purchase about it

>>	Anonymous Tue Feb 25 07:21:27 2014 No.134930 >>134901 One without any extradition agreements.

>>	Anonymous Tue Feb 25 07:23:55 2014 No.134936 >>134860 nah, no potential, board moves too slow for maximum asspain. Mods will get to this and ban/delete all involved

>>	Anonymous Tue Feb 25 07:23:56 2014 No.134934 >>134932 This, plus he posted the bill of sale. That said, there's no proof that he wasn't a richfag already, bought bitcoins, and then did the transaction.

>>	Anonymous Tue Feb 25 07:24:25 2014 No.134938 >>132522 >tfw theyre probably both pedophiles trading btc and cp

>>	Anonymous Tue Feb 25 07:24:55 2014 No.134939 File: 93 KB, 1048x388, bitcoin.png [View same] [iqdb] [saucenao] [google] I hate to say I told you so /g/, but I told you so. Hopefully you children learned a valuable lesson in all of this.

>>	Anonymous Tue Feb 25 07:25:56 2014 No.134942 >>134930 Is there such a place?

>>	Anonymous Tue Feb 25 07:26:25 2014 No.134943 >>134922 >>134928 >I have the ability to commit fraud, therefore I cannot be trusted

>>	Anonymous Tue Feb 25 07:28:56 2014 No.134945 File: 334 KB, 1635x1076, kek.jpg [View same] [iqdb] [saucenao] [google] >>134939 These fucking people, they deserve it.

>>	Anonymous Tue Feb 25 07:29:26 2014 No.134946 >>134927 he bought tangible assets when bitcoin was over $800 good investment

>>	Anonymous Tue Feb 25 07:30:26 2014 No.134948 >>134942 http://www.dailyfinance.com/2013/06/11/best-countries-no-extradition-edward-snowden-prism-nsa/ I'm sure you'll find minor tax paradises without extradition agreements too.

>>	Anonymous Tue Feb 25 07:30:56 2014 No.134949 Can somebody explain why this is bad and causing the price to go down? (I mean, obviously it's bad for those with money in MtGox. But for everybody else?)

>>	Anonymous Tue Feb 25 07:34:56 2014 No.134964 So when do the murders start? I mean there's certainly unsavory characters holding bitcoin and the leaders of the site aren't unknown.

>>	Anonymous Tue Feb 25 07:35:26 2014 No.134965 >>134949 Simple. Same shit can happen literally anywhere else. Trust is gone.

>>	Anonymous Tue Feb 25 07:35:56 2014 No.134966 File: 21 KB, 523x242, LTC.png [View same] [iqdb] [saucenao] [google]

Anonymous Tue Feb 25 07:36:25 2014 No.134971

>>134949

Short answer: Because the exchanges functionally are the currency, since that's the only practical way to turn bitcoin into a currency you can buy lunch with.

Slightly longer answer: because it's scared people into thinking maybe these piles of bits on my hard drive AREN'T actually all winning lottery tickets like I thought, better unload them before the price drops any further.

>>	Anonymous Tue Feb 25 07:36:55 2014 No.134969 >>134943 >I have the ability to commit fraud and no one regulates me, therefore I cannot be trusted Yes. Exactly.

>>	Anonymous Tue Feb 25 07:36:55 2014 No.134970 >>134966 someone should tell him that he is poor now

Anonymous Tue Feb 25 07:37:55 2014 No.134972

>>134949
MtGox failing is extremely damaging to the public image of bitcoin. The media will be all over this, with head lines such as "MAN LOSES $7,000,000 IN MONOPOLY MONEY OVER NIGHT IN MTGOX SCANDAL"

This means that bitcoins viability as this amazing internet currency is brought into question, if the BIGGEST exchange just disappears and takes everyones money with it.

Also could trigger government intervention, to prevent more events like this from happening.

>>	Anonymous Tue Feb 25 07:39:55 2014 No.134977 fuck this is why I invest in WoW gold, it's backed by Blizzard and the prices recently sky rocketed with the announce of the next expansion.

Anonymous Tue Feb 25 07:39:56 2014 No.134975

>>134969

Thats not how the free market works.

Other exchanges will know that people what security and offer services that provide it.
I got my coins on a platform that does only hold the bitcoins and never sees my money. I also pay out all bitcoins on personal wallets that I don't need.

Anonymous Tue Feb 25 07:39:56 2014 No.134976

>>134965
>Simple. Same shit can happen literally anywhere else. Trust is gone.

MtGox has for -years- been regarded as terrible and the worse exchange. I don't understand this attitude. The other exchanges are demonstrably more reliable.

>>134971
>>134972
So basically just panic/fear.

>>	Anonymous Tue Feb 25 07:40:56 2014 No.134978 >>134948 >kazakhstan >fermented mare milk, futuristic architecture and cheap to live in That's where I'm fleeing if I ever need to.

>>	Anonymous Tue Feb 25 07:41:25 2014 No.134980 >>132385 >getting scratches into someone else's Lamborghini

Anonymous Tue Feb 25 07:44:26 2014 No.134988

>>134949
Because the exchanges are shady as shit, and it's hard as fuck to into bitcoin. This is just another nail in the coffin for bitcoin adoption(NEW PARADIGM!!!1one).

Bitcoinfags think that bitcoin will just constantly rise in value, not thinking on what it means for bitcoin to be a currency(used as an exchange between two parties) vs a speculative instrument. Further, it's NOT untraceable(coin tumblers help, but they're not the default, and possibly not foolproof), so it fails that libertarian ideal. Combine that with the high barriers to entry(ASIC mining, electricity cost), the ponzi scheme nature(first in, $$$$$$, last in? $), the ever widening wallet size(6GB and counting), the 51% mining attack, the sketchiness of these exchanges, some of which have been shut down for money laundering(even if Bitcoin is free'd by the FCC, that doesn't free up the institution's responsibilities), the slow speed of transactions(I think the network can handle 7 transactions a second max, some transactions supposedly are REALLY slow)and, well, it's a recipe for disaster.

Normalfags will never embrace it.
Silk Road is dead.

And keep in mind, Bitcoin is the first and most prevalent bitcoin. Altcoins almost all have NOTHING going for them. Most of them are just pump and dumps, very few bring any ACTUAL features to the table.

>>	Anonymous Tue Feb 25 07:45:56 2014 No.134991 File: 110 KB, 248x249, 1393332326638.png [View same] [iqdb] [saucenao] [google] Not a bubble :^) capcha : aintshi call

Anonymous Tue Feb 25 07:46:55 2014 No.134992

>>133140
>>133140

Jesus this thread is heart-wrenching.

My god. It's like, not matter what you feel about reddit itself... it's like watching your neighbors in a cargo cult dress up like GIs and walk around on the beach and built little control towers out of bamboo and fucking starve to death while you go spear fishing.

It's fucking sad.

>. I stupidly had my life's savings in bitcoin, and when the price started to fall, I converted to dollars and watched the price plummet. I lost $357,000. Not to try to earn a bunch of sympathy or anything but this was not only my money but it was going to be my 5 year old son's education fund which i took out of fidelity about 1 year ago to mess with bitcoins.

This is going to be profoundly damaging for bitcoin's reputation. This thread right here.

>>	Anonymous Tue Feb 25 07:47:55 2014 No.134995 If Mt Gox founder was smart enough to make Bitcoin, why is Mt Gox a shit from beginning to the end?

Anonymous Tue Feb 25 07:49:26 2014 No.134998

>>134992

Yeah, because not like anyone else has ever made a bad financial decision in any other market before. His decision to dump all his eggs into one basket had absolutely no bearing on the situation, amirite?

>gather round, overglorification tiem, kiddos!

>>	Anonymous Tue Feb 25 07:49:56 2014 No.134999 File: 79 KB, 436x589, what the fuck am I reading.jpg [View same] [iqdb] [saucenao] [google] >>134995 >Mt Gox founder >make Bitcoin

>>	Anonymous Tue Feb 25 07:49:56 2014 No.135001 >>134992 Don't feel bad for this guy. He's either totally bullshitting or an idiot with an inheritance. Who the fuck has three fifty large for their sons education by the time the kid if five.

Anonymous Tue Feb 25 07:50:26 2014 No.135002

>>134992
>53.475... which, in essence... is my kids college fund.

>I really can't explain how I feel right now. something along the lines of sick, hollow, and heart broken. I get to tell my wife tomorrow that the +40k we had a month ago is now completely gone. I honestly don't know how I'm going to do it.

>>134998
You're such a seasoned veteran of life, how do you maintain your steely reserve oh wise one

>>	Anonymous Tue Feb 25 07:50:56 2014 No.135003 >>134999 Mark Kapeles is without a doubt Satoshi Nakamoto.

>>	Anonymous Tue Feb 25 07:51:25 2014 No.135007 >>134992 Can I buy account details from these people? For example a looser from that thread sells me 20 bitcoins with rate 1BTC=1USD. A month later Mt.Gox cames back again, and now I have 20 bitcoins with value 500$ Would this work?

>>	Anonymous Tue Feb 25 07:52:55 2014 No.135009 >>134756 Sorry, was thinking of Netscape versus Microsoft.

>>	Anonymous Tue Feb 25 07:53:26 2014 No.135010 File: 35 KB, 450x370, appleboy.jpg [View same] [iqdb] [saucenao] [google] >>134939 >/g/

>>	Anonymous Tue Feb 25 07:53:26 2014 No.135011 >>135007 People were already doing that.

>>	Anonymous Tue Feb 25 07:53:26 2014 No.135012 File: 350 KB, 1366x768, gox.jpg [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 25 07:54:25 2014 No.135015 >>135007 creative. I like it.

>>	Anonymous Tue Feb 25 07:56:55 2014 No.135023 Bitcoin isn't real money, right? So technically, the hackers who stole 700,000 bitcoins didn't do anything illegal.

>>	Anonymous Tue Feb 25 07:56:56 2014 No.135024 >>135007 It really needs to be $1/BTC or lower though. Because if that shit ever comes back up again it will go to single digits and stay there.

>>	Anonymous Tue Feb 25 07:56:56 2014 No.135025 >>135003 Why

>>	Anonymous Tue Feb 25 07:57:56 2014 No.135030 >>135025 Because people don't understand how domain registration works.

>>	Anonymous Tue Feb 25 07:58:26 2014 No.135034 >>135003 I know there is evidence to support the theory, but there is no way in fuck someone would be smart enough to make Bitcoin and then dumb enough to spend years ignoring the transaction malleability issue that was well documented.

>>	Anonymous Tue Feb 25 07:58:56 2014 No.135035 >>135023 Arguable. You could call it theft of a collectible that has value, for instance.

>>	Anonymous Tue Feb 25 07:58:56 2014 No.135036 File: 43 KB, 255x233, sophisticatedadults.jpg [View same] [iqdb] [saucenao] [google] >>135002 He probably maintains it with a diverse stock portfolio and investments in various other things, such as bonds, precious metals and/or real estate.

>>	Anonymous Tue Feb 25 07:59:26 2014 No.135038 >>135023 They're a tradeable commodity, though. So, yes, it is illegal.

>>	Anonymous Tue Feb 25 08:01:25 2014 No.135046 >>135034 Do you have how retardedly single-topic-focused CS grad students are? A typical grad student know everything there is to know about parallel processing, but can't write HTML to save his life.

>>	Anonymous Tue Feb 25 08:04:25 2014 No.135052 >>134988 this I could have said it better myself, but he said it pretty good so i wont

>>	Anonymous Tue Feb 25 08:05:25 2014 No.135054 >>135023 Dunno, can you be arrested for stealing golds in wow?

>>	Anonymous Tue Feb 25 08:05:56 2014 No.135055 This is just too fucking rich. Countless threads over the months warning people about Bitcoins, only to get responses like "lol u got sour grapes bro?" This is great.

>>	Anonymous Tue Feb 25 08:06:25 2014 No.135058 File: 32 KB, 808x98, people are dumb.jpg [View same] [iqdb] [saucenao] [google] Are these people fucking serious?

>>	Anonymous Tue Feb 25 08:06:55 2014 No.135060 >>132860 PROTIP: Professional broadcast-quality Beta shares little in common with consumer-grade Beta besides the name.

>>	Anonymous Tue Feb 25 08:08:25 2014 No.135062 >>135058 >people actually think there is no risk involved in this type of merchant tier money making they dont even understand that risk is the only reason there is money to be made. they arent producing shit.

>>	Anonymous Tue Feb 25 08:08:56 2014 No.135063 I told you about Mt Goy http://www.youtube.com/watch?v=pWa0dZMHYeE

>>	Anonymous Tue Feb 25 08:08:56 2014 No.135065 >>135058 "(buy low...sell high)" 7/10, subtle

>>	Anonymous Tue Feb 25 08:09:25 2014 No.135066 >>135058 Looks like he's still in denial. Reality will come through to him eventually.

>>	Bitcoin Is Dead Anonymous Tue Feb 25 08:09:25 2014 No.135067 http://www.youtube.com/watch?v=036azMkNIF4#t=230

Anonymous Tue Feb 25 08:11:26 2014 No.135076

>>135058
>not realizing this is all trolling

I'm sure there's many people losing some thousands of dollars, a few losing tens of thousands and the odd retard losing his life savings of $100k, but there aren't that many redditors being able to invest hundreds of thousand of dollars as people posting in that thread.

Anonymous Tue Feb 25 08:12:26 2014 No.135081

>>135058
>Are these people fucking serious?
Yes, here in Norway for instance, banks sold investment packages funded by loans designed to have interest rate than actual yield.

While not as bad as selling bets on loans not getting paid, it's pretty fucking amazing what people will buy as long as there's a miniscule chance of profits.

>>	Anonymous Tue Feb 25 08:16:26 2014 No.135087 >>135025 Because the 95 paper from the nsa detailing cryptocurrency in its entirety is still not very well known.

>>	Anonymous Tue Feb 25 08:16:26 2014 No.135088 someone needs to do a bitcoin version of this: http://www.youtube.com/watch?v=N3q5NyxI8nk&t=02m25s this. fucking. video.

Anonymous Tue Feb 25 08:16:26 2014 No.135092

>>134992
>profoundly damaging for bitcoin's reputation

> profoundly damaging for some immature and unwise wannabe investor's reputation.

I went ahead and fixed your typos there chief.

Stock market crash in 2008.... Really did some damage to the idea of owning "shares" in a company that are really worthless electronic records, not real money.....oh wait....

>>	Anonymous Tue Feb 25 08:16:56 2014 No.135090 now that bitcoin is dead......I want to see some of the users follow the same route :)

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 08:18:56 2014 No.135097 >>135090 please note that bitcoin is not dead, just severely wounded it will most likely survive, it's just a matter of how long it will take to recover (if it can recover)

>>	Anonymous Tue Feb 25 08:20:25 2014 No.135104 Why the hell are the other big Bitcoin markets staying steady at $500?

>>	Anonymous Tue Feb 25 08:21:25 2014 No.135108 I'm HODLing mtgox can't touch my cold storage I'm still up 10,000%

>>	Anonymous Tue Feb 25 08:21:25 2014 No.135109 >>135058 I can't even tell anymore. Part of me believes no one is that dumb, but then again it's plebbit.

>>	Anonymous Tue Feb 25 08:21:26 2014 No.135111 >>135104 Careful manipulation from whales?

>>	Anonymous Tue Feb 25 08:21:56 2014 No.135110 >>135104 Because people expected this to happen. They've taken a hit with every new mtgoy announcement. Take them all together and that's the real impact.

>>	Anonymous Tue Feb 25 08:23:56 2014 No.135117 >Dat perfectly executed buy-wall at 400

>>	Anonymous Tue Feb 25 08:24:56 2014 No.135121 File: 41 KB, 842x338, 400.png [View same] [iqdb] [saucenao] [google] >>135117 Oops, forgot pic.

>>	Anonymous Tue Feb 25 08:25:25 2014 No.135124 >>135088 Libertarians are fucking insane.

Santa Panda !bWHYWnZ5pw Tue Feb 25 08:25:25 2014 No.135125

I'd also like to proclaim that ANYONE who lost more than ~50-100 btc from holding all their coins on an exchange is fucking retarded.

I understand that lots of people did this so that they could cash out any time they would like, but keeping that much money anywhere besides your local wallet is just asking for trouble.

>>	Anonymous Tue Feb 25 08:26:55 2014 No.135128 >>135007 https://www.bitcoinbuilder.com/

Anonymous Tue Feb 25 08:27:26 2014 No.135129

>>135104
HODLers

people who genuinely believe this is simply another bump in the inevitable road upwards.

there's a LOT of people, some rich, who consider $10K, $100K and higher bitcoins a possibility.

this doesn't need to be a certainty - just a possibility of that is enough to gamble some money, to buy more now, and to hold.

don't forget - what we see now is a repeat of at least two (or is it three) previous "bubbles". It peaks, drops quite a bit, but doesn't reach the previous low, and then remains (fairly) stable for some time, before bubbling up again.

>>	Anonymous Tue Feb 25 08:28:56 2014 No.135138 I just cashed 80% out, not bad for putting $45 in 1 month ago.

>>	Anonymous Tue Feb 25 08:29:55 2014 No.135143 >>135121 Where is this from?

>>	Anonymous Tue Feb 25 08:30:25 2014 No.135147 File: 5 KB, 659x158, Untitled.png [View same] [iqdb] [saucenao] [google] >>135138 Forgot pic.

>>	Anonymous Tue Feb 25 08:30:55 2014 No.135148 File: 34 KB, 583x437, Untitled.png [View same] [iqdb] [saucenao] [google] Oh boy.

>>	Anonymous Tue Feb 25 08:31:57 2014 No.135154 >>135143 http://bitcoinity.org/markets/bitstamp/USD

>>	Anonymous Tue Feb 25 08:32:56 2014 No.135156 >>135088 That was pretty cool. Completely implausible, but cool.

>>	Anonymous Tue Feb 25 08:32:56 2014 No.135157 >>135148 So, did he fuck his friend's wife?

>>	FAT GUY Tue Feb 25 08:33:56 2014 No.135160 >>135148 >that username WEAVE ME MORE, LOOM SPINNEr

>>	Anonymous Tue Feb 25 08:34:25 2014 No.135165 >>135157 Obviously.

>>	Anonymous Tue Feb 25 08:35:26 2014 No.135174 File: 24 KB, 308x282, 1393335354005.png [View same] [iqdb] [saucenao] [google] >>135148 >account created 2 hours ago

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 08:35:56 2014 No.135172 >>135157 that was the moral of the story idiot

>>	Anonymous Tue Feb 25 08:36:26 2014 No.135176 >>135148 so fake LOL

>>	Anonymous Tue Feb 25 08:42:26 2014 No.135194 FUD soundtrack: https://www.youtube.com/watch?v=v0q2KZ4zrIY

>>	Anonymous Tue Feb 25 08:43:26 2014 No.135197 >>132382 The ignorance of your post speaks for itself, this is about one bitcoin exchange.

>>	Anonymous Tue Feb 25 08:44:26 2014 No.135202 >>135148 >Great story, but 99% chance of being fake

Anonymous Tue Feb 25 08:45:26 2014 No.135203

>>135197

Imagine what would happen if the NASDAQ just closed tomorrow and they declared all stocks traded with them were worthless? Shitty analogy but that's in essence what happened here. The largest exchange just goes tits up and you're not expecting that to shake people's confidence of Bitcoin just a little bit?

>>	Anonymous Tue Feb 25 08:46:26 2014 No.135206 >>135197 Keep telling yourself that.

>>	Anonymous Tue Feb 25 08:47:26 2014 No.135211 >>135203 And since "confidence" is all this confidence scam has, once that slips...

>>	Anonymous Tue Feb 25 08:47:55 2014 No.135213 >>135065 I came right at this point. Can't stop laughijn

>>	Anonymous Tue Feb 25 08:48:25 2014 No.135216 >>135148 I was really hoping that the hugging would turn into fucking

Anonymous Tue Feb 25 08:49:26 2014 No.135223

>>134570
>that feel when you were an early adopter whose university dorms had no charge for electricity
> that feel when you cashed out for an average of 630 and thought it might actually get to the fucking moon when it bounced back and you had no coin and sold the rig
Meh, at least my phd is funded and no student debt when I graduate. I could have made maybe triple what I did but I'll count myself ahead and run with it afylter this.

>>	Anonymous Tue Feb 25 08:49:26 2014 No.135224 >>135211 This. This is supported by nothing but speculation and confidence and once that is gone, say hello to 10$ BTC.

>>	Anonymous Tue Feb 25 08:49:56 2014 No.135220 File: 149 KB, 1068x800, silly-gaijins.jpg [View same] [iqdb] [saucenao] [google] guys whats happened to my money??? :((((

>>	Anonymous Tue Feb 25 08:49:56 2014 No.135221 >>135148 I proubably shouldn't be smiling so much, but dammit.

>>	Anonymous Tue Feb 25 08:51:26 2014 No.135230 Welp, it's up onto Slashdot, with several links. Can't wait for Slashdot to grow to >1000 comments, and to peruse them. Always informative. http://news.slashdot.org/story/14/02/25/1343235/mt-gox-gone-apparent-theft-shakes-bitcoin-world

>>	Anonymous Tue Feb 25 08:51:26 2014 No.135231 File: 57 KB, 500x500, 1391193343116.jpg [View same] [iqdb] [saucenao] [google] >>135220 Are those google glasses?

>>	Anonymous Tue Feb 25 08:51:56 2014 No.135233 >>135220 >macbook >google glass >nikon 1 They deserved it.

>>	Anonymous Tue Feb 25 08:52:55 2014 No.135237 >>135231 Yes. For the record, the correct way to greet a Google Glasses user is "Ok Glass, image search teratoma, I'm feeling lucky"

>>	Anonymous Tue Feb 25 08:52:56 2014 No.135235 >>135231 They look like knockoffs. Not sure if both use a cord, though.

>>	Anonymous Tue Feb 25 08:53:25 2014 No.135239 >>134762 >tumblr >all that edge >euphoric Yeah, nah. You're a cunt.

>>	Anonymous Tue Feb 25 08:56:56 2014 No.135259 >>135203 >The largest exchange just goes tits up and you're not expecting that to shake people's confidence of Bitcoin just a little bit? You must be new here, bitcoin gets shaken up by the slightest of things this will bounce back though like always

>>	Anonymous Tue Feb 25 09:00:56 2014 No.135278 >>135259 >like always >it always goes up >it always goes up... right guys? >guys? >GUYS?

>>	Anonymous Tue Feb 25 09:03:46 2014 No.135289 So when it ALL comes down can I fucking buy a correctly priced r9 280x? Jesus FUCKING CHRIST

>>	Anonymous Tue Feb 25 09:04:47 2014 No.135294 >>135289 Well I bet AMD made a killing. They can use it.

>>	Anonymous Tue Feb 25 09:05:47 2014 No.135297 >>135289 Look for extremely cheap used 280x on market soon.

>>	Anonymous Tue Feb 25 09:05:47 2014 No.135298 Anyone using coinbase? How fast are the transactions? You can withdraw coins into your own wallet from there right?

>>	Anonymous Tue Feb 25 09:07:17 2014 No.135305 >>134294 cringe this is such a typical grandstanding reddit tier submission

Anonymous Tue Feb 25 09:08:17 2014 No.135318

I'm going deeper under Gox
There's not more coins in this town.
I'm going deeper underground
But I got to go deeper, got to go much deeper, yeah
Cuh-heh, they gonna wreck it down, yeah
Step do-do-do-dow-di-dow-di-down
Hey we're gonna bring it down, yeah

Some people with a pocket full of money
And an eye full of hate
Take a pleasure in destruction
Of the very thing that they tried to create
Somebody tell me why does all
Mankind only tamper and touch?
Have a habit where they-bite off
More they can chew
And now it's too much, down with the jews.

http://www.youtube.com/watch?v=WIUAC03YMlA

I am shit at this.

>>	Anonymous Tue Feb 25 09:09:47 2014 No.135319 Do you retards really think that bitcoin is dead? It'll be back at $1000 in a few months.

>>	Anonymous Tue Feb 25 09:10:46 2014 No.135326 >>135278 It has recovered from a worse crash than this one, what makes this ever so special? Bad media attention? Surely BTC hasn't seen any of that before.

>>	Anonymous Tue Feb 25 09:11:16 2014 No.135330 >>135319 b-but muh fiat and jewish banks

>>	Anonymous Tue Feb 25 09:11:17 2014 No.135332 File: 8 KB, 659x240, magic.png [View same] [iqdb] [saucenao] [google] Guys he just wanted to trade magic cards.

>>	Anonymous Tue Feb 25 09:12:17 2014 No.135336 >>135330 I'm not denying that the jews are behind this, but they want it to go back up too.

Anonymous Tue Feb 25 09:18:17 2014 No.135357

>>135319
weeks probably, maybe higher then now that Gox is gone.

I just bought 2 so , I guess we'll see. The difference between what I did today and what the idiots on /r/bitcoin have done is that I can actually afford to lose all $1000 because it's only $1000. It may pay double or not.

>>	Anonymous Tue Feb 25 09:19:49 2014 No.135361 >>135357 what exchange did you use?

>>	Anonymous Tue Feb 25 09:19:49 2014 No.135362 >>135297 >buying GPUs used for mining Unless they really are EXTREMELY cheap, I wouldn't bother. Mining cards get wrecked pretty fast, since they're being run 24/7 on close to maximum load.

>>	Anonymous Tue Feb 25 09:20:46 2014 No.135367 BTC newfag here. How much does BTC normally fluctuate? Because it has hopped from $488/BTC to $491/BTC in a few minutes. Is this normal? And what is the lag in buying or selling BTC like on a normal day?

Anonymous Tue Feb 25 09:20:47 2014 No.135365

>>135298

They are a great exchange, I just bought 2 from them. Takes about 4 days unless you link a credit card. Its' an ACH transaction essentially. They broker you through Bitstamp.

You can make paper backups of your online with coinbase or you can download to your own wallet. Or send them to another exchange where you can trade, or both.

Anonymous Tue Feb 25 09:20:47 2014 No.135366

>>135117
>>135121
god i was so angry watching that happen. I was just staring at it while it bounced at 400.

I think that watching the highs and lows of bitcoin is what has made me stop believing in its usefulness. Anything that can be so easily manipulated is worthless. There is obviously no "real" value other than speculation when whether it goes under 400 & we flash-crash, vs it holds "stable" and we hike back up, can be determined by a few fuckers with basic trading knowledge and some cash.

>>	Anonymous Tue Feb 25 09:22:47 2014 No.135374 >>135361 coinbase.

>>	Anonymous Tue Feb 25 09:23:17 2014 No.135380 >>135326 yeah and how much have you made off btc faggot?

Anonymous Tue Feb 25 09:24:16 2014 No.135387

>>135367
>$488/BTC to $491/BTC in a few minutes

Man I've seen it range $150 in an hour, up and down, up and down. It's extremely volatile which is in a weird way normal to BTC.

Check DOGE or some of the other cryptos. I made a bitcoin profit trading Mint the other day, swung from 19 satoshis to 63 in 12 hours and back down to 33 or so. But those are just bagholders that jumped on the train at 45+ , they'll slowly sell off.

>>	Anonymous Tue Feb 25 09:25:17 2014 No.135391 >>135367 >Because it has hopped from $488/BTC to $491/BTC in a few minutes. Is this normal? No. That's more stable than normal.

>>	Anonymous Tue Feb 25 09:25:46 2014 No.135389 >>135366 why are everyone talking about low of 400 when BTC/USD hit a low of 432? Do I have the wrong chart or what?

>>	Anonymous Tue Feb 25 09:26:17 2014 No.135393 >>135380 I don't trade BTC, I trade LTC since all fluctuations tend to affect it a lot more, and not much, only about 2k total and only 1k from trading, however all in all I've lost about $30 on trades during the entire time.

>>	Anonymous Tue Feb 25 09:26:17 2014 No.135397 >>135389 Bitstamp hit 400. BTC-e remained higher.

>>	Anonymous Tue Feb 25 09:28:17 2014 No.135403 >>135367 You can check it for yourself http://bitcoinwisdom.com/markets/bitstamp/btcusd Time interval means how much time each bar represents, you can see current and past fluctuation there.

>>	Anonymous Tue Feb 25 09:29:16 2014 No.135406 >>135387 >>135391 Thanks. Is there a crash course in BTC for newbs online? (I'm assuming there are a lot, I just want to know the best one or 2)

Anonymous Tue Feb 25 09:29:16 2014 No.135407

>>135389

The price never went below 400, exactly 400. Some of the big players must have had standing buy orders at 400 to keep the price from crashing. It' s lost about a billion in market cap so far but those were just little guys. They'll leave, Gox will go away and the price will be $1500 by June.

Anyone that thinks Bitcoin is going away is crazy, time it moving forward and it represents too much in opportunity from secondary and tertiary businesses, not crypto-currency speculation alone.

If it stays stable around 500 over the next week I'lll start buying again. The more stable the more I'll buy up to about 10 or 15 hoping to profit 50-100% by June. If I don't, it will be OK because I can actually afford to lose what I invest.

>>	Anonymous Tue Feb 25 09:31:17 2014 No.135415 >>135389 stamp bounced up and down at 400 for about 10 minutes and then we went up up and away.

>>	NewestFag Tue Feb 25 09:31:17 2014 No.135418 >>135403 Forgive my ignorance, but can someone walk me through this interface? It is a bit overwhelming since I have zero fucking clue as to what I'm really looking at.

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 09:31:17 2014 No.135419 >>135407 I also firmly believe that bitcoin is too big to die from something like this, as of now anyway. If this trend follows suit with other exchanges though, we would have a big problem.

>>	Anonymous Tue Feb 25 09:32:47 2014 No.135421 >>135418 http://www.investopedia.com/video/play/candlestick-charts/

>>	Anonymous Tue Feb 25 09:33:16 2014 No.135428 >>135419 They just need to confirm they have the bitcoins

>>	Anonymous Tue Feb 25 09:33:16 2014 No.135429 File: 23 KB, 1240x82, Capture.png [View same] [iqdb] [saucenao] [google] >>132353 >http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft YOU DONT SAY, WOW SUCH A SHOCKER

>>	Anonymous Tue Feb 25 09:33:46 2014 No.135426 Shit is only too big to die for a limited period. Eventually the small fish will be tired of losing money.

Anonymous Tue Feb 25 09:34:16 2014 No.135430

>>135418
http://bitcoinity.org/markets/bitstamp/USD
Maybe that'll be easier to look at for you. The line is the average price, green and red areas represent fluctuations.

The numbers on the right are the price marks for the line, the numbers on the left are the trade volume indicators for the bars.

The lower half shows at what price people are willing to sell/buy how much.

>>	Anonymous Tue Feb 25 09:34:16 2014 No.135431 >>135418 >http://bitcoinwisdom.com/markets/bitstamp/btcusd http://en.wikipedia.org/wiki/Candlestick_chart You're not ready to think about trading. A fool and his money are soon parted, do not go where only a fool would.

>>	NewestFag Tue Feb 25 09:34:16 2014 No.135433 >>135421 >Bookmarked Thank you anon. I hope this board stays, because you guys are helpful. And I really want crypto threads out of /pol/

Anonymous Tue Feb 25 09:34:46 2014 No.135435

>>135418
http://stockcharts.com/school/doku.php?st=candlestick&id=chart_school:chart_analysis:introduction_to_cand

Or just google "candlestick chart"

Once you learn to read them you will be amazed at the information that is transmitted in those damn candlesticks.

Anonymous Tue Feb 25 09:35:17 2014 No.135442

>>135419
>If this trend follows suit with other exchanges though, we would have a big problem.

Not as big as if all the banks crashed in 2008, but they didn't.

Since 2% of bitcoin wallets control 98% of all bitcoins you won't see a crash, those guys are sitting back and letting the little fish sell off. Then they are going to buy them back up and push the price up. As things stabilize and the public realizes gox is gone the general consensus will be that Bitcoin is stronger.

>>	Anonymous Tue Feb 25 09:36:17 2014 No.135445 >To avoid a bank run from customers, the daily amount of bitcoin and cash withdrawals will be limited. oh boy here we go!

"Bitcoin! Bitcoin!" Anonymous Tue Feb 25 09:37:16 2014 No.135448
File: 313 KB, 700x700, 1386284524522.png [View same] [iqdb] [saucenao] [google]

baw haw haw

"Mt. Gox collapse threatens Bitcoin economy"

http://www.latimes.com/business/technology/la-fi-tn-mt-gox-collapse-threatens-to-bring-down-bitcoin-economy-20140225,0,2841826.story

I hate to say I told you so. But then the bit people were spamming pol for months. So naturally I am having some childish schadenfreude right now

I do feel bad though. They were probably the same crowd buying gold at 1800. Its the hard way to learn, but at least they are smarter now, and thats priceless, so they can have some cheer in that. I just hope they arent losing much. No one wants to see beginners suffer and lose resource.

And now some mood music

http://www.youtube.com/watch?v=Uz1Jwyxd4tE

Anonymous Tue Feb 25 09:37:17 2014 No.135447

>>135442
>Since 2% of bitcoin wallets control 98% of all bitcoins you won't see a crash, those guys are sitting back and letting the little fish sell off.
I'm not sure how you don't see the problem with that.

What happens when those 2% are eventually left alone with their bitcoins (all the smaller traders sell, they buy up everything)? Or when a few of them cash out?

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 09:40:17 2014 No.135464 >>135448 jokes on you, I've never bought a bitcoin but have 15

Anonymous Tue Feb 25 09:41:17 2014 No.135467

>>132776

Except Valve doesn't because the buds were only for a limited time, no more have been added to circulation.

All the buds being traded around are from the small amount of OSX users that launched the game for a couple of months in 2010.

It's also why the Tux is untradable.

Anonymous Tue Feb 25 09:43:17 2014 No.135476

What's funny is that these other exchanges sat on this information and are just now getting into damage control. Of course it's not like these poor suckers could do anything since they can't withdraw their own money anyway but still, they just threw in this live grenade while hundreds of millions of dollars are lost. Some community, huh? A fool and his money are soon parted.

>>	Anonymous Tue Feb 25 09:48:17 2014 No.135497 >>132499 Ahem http://bitcoinwisdom.com/

>>	Anonymous Tue Feb 25 09:52:47 2014 No.135518 I told you bro, I told you about butcoin.

Anonymous Tue Feb 25 09:53:47 2014 No.135521

welp, this just cost me my car insurance, which i can't pay now, my phone is being disconnected, i have fuck all to eat and i've got nothing, not until mtgox comes back, and gives us all our money, with interest. which they will. any moment now.

outb3 "don't risk money you can't afford to lose". in order to acquire sufficient money that i could lose some, i had to take a risk.

everything is fine. i'm definitely not going to get drunk and kill myself.

Anonymous Tue Feb 25 09:53:47 2014 No.135523

>>135447

2% of the world's population controls 98% of the world's wealth.

This is nothing new and only a microcosm of reality. So either you are neutral about this fact or you support cryptos even more because they give a chance to fight that reality more so than our current economy. It may start out as a mirror of life's lopsided wealth distribution but it might not stay that way, as everything else has thus far.

Anonymous Tue Feb 25 09:57:16 2014 No.135539

>>135523
>2% of the world's population controls 98% of the world's wealth.
And? Not comparable. I don't need buttcoins to pay my taxes or shop at the supermarket. I DO need fiat though.

So when 2% hold almost all buttcoins, then eventually the rest might just bail out of them.

>>	Anonymous Tue Feb 25 09:57:17 2014 No.135544 >>135318 apt, seeing as though this was the soundtrack to Godzilla, and Mt Gox is based in Japan

>>	NewestFag Tue Feb 25 09:57:17 2014 No.135546 Another question: A wallet like coinbase just holds my currency, while markets like bitstamp allow me to buy and see those coins, correct? And for a newcomer what wallet/market would you recommend?

>>	Anonymous Tue Feb 25 09:59:16 2014 No.135552 >>135539 >2% hold almost all buttcoins, >then eventually the rest might just bail out of them. That doesn't make any sense. If 2% own almost all then who cares what the piss ants do. They don't control anything.

Anonymous Tue Feb 25 09:59:46 2014 No.135556

>>135546
>A wallet like coinbase just holds my currency
Ideally, an offline wallet holds your currency. Otherwise, you might end up like those fucks who lost thousands of coins in mtgoy.

bitstamp is a market where coins are bought and sold. Coinbase buys and sells there for you.

Anonymous Tue Feb 25 10:00:17 2014 No.135562
File: 55 KB, 625x352, poof.jpg [View same] [iqdb] [saucenao] [google]

I hate to ask because I can probably assume the answer, but what does this mean for the future of other VCs like Litecoin and Stablecoin and whatever the heck else is out there?

I'd like to see VCs work, and these smaller players seemed to be legitimate. Or is success as currency VCs own downfall.

Look at this if you like.

"Why Bitcoin Must Die. Long Live Bitcoin 2.0."

http://www.forbes.com/sites/billfrezza/2014/02/07/why-bitcoin-must-die-long-live-bitcoin-2-0/

>>	Anonymous Tue Feb 25 10:00:17 2014 No.135563 >>135552 But bitcoins are not wealth. They're not legal ownership of land, facilities, or property of any kind. Some tiny fraction of the population owns Confederate dollars, too.

Anonymous Tue Feb 25 10:00:17 2014 No.135565

>>135552
>If 2% own almost all then who cares what the piss ants do.
The piss ants and their demand are all that give those coins value. The 2% aren't willing to hand over their coins to anyone, they just gobble up more. Now, what when the last seller is gone and trade essentially stops?

The alternative is that those 2% shove the coins to each other and no one else gives a shit.

Anonymous Tue Feb 25 10:01:47 2014 No.135567

>>135556
>end up like those fucks who lost thousands of coins in mtgoy.

I never understand this shit, all they had to do was create a wallet on their home computer and send their coins there. Paper backup of the private key and boom, fuck Goy, they can't do shit because my coins are in my wallet.

>>	NewestFag Tue Feb 25 10:01:47 2014 No.135568 >>135556 >Ideally, an offline wallet holds your currency. How does one go about setting that up?

>>	Anonymous Tue Feb 25 10:02:17 2014 No.135579 File: 131 KB, 500x375, 4559755316_acbb4b3138.jpg [View same] [iqdb] [saucenao] [google] >>135521 Get some part time for a weekend or two. You'll be ok.

Anonymous Tue Feb 25 10:03:17 2014 No.135580

>>135567
>I never understand this shit, all they had to do was create a wallet on their home computer and send their coins there.
mtgoy eventually simply stopped sending them their coins. They were like "yeah this is a "bug" here, so for now, no one gets to withdraw coins." So the people who had them there to trade with them were fucked that moment... and those who were too dumb to get them out while they still could.

>>	Anonymous Tue Feb 25 10:04:16 2014 No.135584 How much did you all lose?

>>	Anonymous Tue Feb 25 10:04:16 2014 No.135585 File: 29 KB, 380x250, 1391843985622.jpg [View same] [iqdb] [saucenao] [google] >>134939 >dumb nigger faggot ledditor doesn't follow the #1 rule of investing Guess they should set up the suicide hotlines for the 4th time

>>	Anonymous Tue Feb 25 10:04:46 2014 No.135586 >>135568 http://www.weusecoins.com/en/getting-started Check "software wallet".

>>	Anonymous Tue Feb 25 10:05:16 2014 No.135600 >>135556 I recall reading about paper wallets. Or hardware wallets. It wont prevent value loss of course, but it should keep the units safe

>>	NewestFag Tue Feb 25 10:05:17 2014 No.135599 >>135586 Thanks

Anonymous Tue Feb 25 10:06:43 2014 No.135605

>>135224
>This is supported by nothing but speculation and confidence and once that is gone, say hello to 10$ BTC.

if bitcoin is worthless etc, why stop at 10$? Why aren't you threatening $0?

price goes up = bitcoin lovers "I told you so"
price goes down = bitcoin haters "I told you so"

anyway y'all stupid

bitcoin is a genius level invention, something that cypherpunks and crypto guys have been trying to create for decades, and has applications beyond simply being a currency alone. It's the first currency that *any* software developer can create applications for, without needing to ask permission from a bank. This is HUGE, and I pity the poor shut eyed fools who don't realise it.

The -only- question here is -which- cryptocurrency is going to be the leader. It's not impossible a better one could come along, or that alt coins could beat Bitcoin in certain niches (e.g. Doge for tipping) and take some of BTC's market share. But for the time being... Bitcoin is the one that has first mover advantage, is most widely known, and has by absolute leagues in front the best developers.

>>	Anonymous Tue Feb 25 10:06:46 2014 No.135602 Steve Herman @W7VOA 46s Reuters: Mt. Gox CEO says "should have an official announcement ready soon-ish." #bitcoin #Japan >crying is okay here.jpeg

>>	Anonymous Tue Feb 25 10:07:17 2014 No.135609 >>135584 Nothing. I'm just here for the schadenfreude. Serves you right for believing in a scammer's exchange for fake money.

>>	Anonymous Tue Feb 25 10:07:17 2014 No.135611 new: http://www.reuters.com/article/2014/02/25/us-bitcoin-mtgox-ceo-idUSBREA1O12T20140225

>>	Anonymous Tue Feb 25 10:09:17 2014 No.135617 >>135609 Same here.

Anonymous Tue Feb 25 10:09:17 2014 No.135618
File: 62 KB, 279x528, 1393340942264.jpg [View same] [iqdb] [saucenao] [google]

I spent 750'ish dollary doos on TF2 hats back in 2012.
These fucking things are more worthwhile as a currency than Bitcoin is.
at least I can wear them when playing my favourite video game. What can you use Bitcoins for?

Anonymous Tue Feb 25 10:09:46 2014 No.135621

>>135599
That wallet is essentially the same as your normal wallet, which holds your physical fiat currency - it stores bitcoins on your computer.

Now, in order to trade, you'll probably also need a web wallet. That is essentially a bank account. The problem is, you can never be sure that what is displayed in your bank account is actually in the banks safe - in gox' case, it wasn't - so don't rely on the account too much - if possible, always pull to local after trading, never put too much in one account.

>>	Anonymous Tue Feb 25 10:09:46 2014 No.135622 >mtgoy fucks up on a constant basis >first you cannot get dollars out, then you can't do anything with btc >finally disappears WHAT A SURPRISE

>>	Anonymous Tue Feb 25 10:11:17 2014 No.135624 >>135611 >a turning point Yeah, turning away from japan, on the boat, and to the bahamas.

>>	Anonymous Tue Feb 25 10:11:17 2014 No.135625 >>135148 good the more people kill themselves the better chance we'll get a big share of the bankruptcy proceeding.

Anonymous Tue Feb 25 10:11:47 2014 No.135628
File: 132 KB, 1295x429, 1393341089470.png [View same] [iqdb] [saucenao] [google]

Guys do you think DPR has some stashed BTC somewhere and isn't telling anyone? If I was him i'd be happy to keep my mouth shut and do my 20 years, safe in the knowledge my kids/family would be set for life with my money.

He can also buy protection and privileges while in prison.

>>	NewestFag Tue Feb 25 10:11:47 2014 No.135629 >>135621 So I set up my local wallet, and then I set up an online wallet on bitstamp? That's it?

>>	Anonymous Tue Feb 25 10:13:17 2014 No.135633 >>135629 Roughly. But first, read more about it. There's the internet to use for that. Someone engaging in trade without learning about what and how he trades is a fool, and a fool and his money...

>>	Anonymous Tue Feb 25 10:13:47 2014 No.135634 I absolutely do not understand why it's remaining at 500. Die damn you, die already. There is NOTHING that should be holding it up like this.

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 10:14:16 2014 No.135638 >>135634 why do you want it to fail?

>>	Anonymous Tue Feb 25 10:14:46 2014 No.135639 >>135634 The same thing that's held it up this far: Wishful thinking.

>>	Anonymous Tue Feb 25 10:14:46 2014 No.135640 >>135634 Because Coinbase and Bitstamp are still working.

>>	Anonymous Tue Feb 25 10:14:46 2014 No.135642 >>135634 >There is NOTHING that should be holding it up like this. There are a few people who stand to lose A LOT of money if the price collapses. They'd rather buy as much as necessary to keep it from collapsing than let it collapse.

>>	Anonymous Tue Feb 25 10:15:17 2014 No.135651 >>135642 The phrase "Throwing good money after bad" applies here.

>>	NewestFag Tue Feb 25 10:15:47 2014 No.135646 >>135633 Are parted easily. I jut want to get things set up so that when I learn what I need I can start. Today, preferably.

>>	Anonymous Tue Feb 25 10:15:47 2014 No.135649 >>135634 >nothing Your economic ignorance is showing http://coinmarketcap.com/mineable.html Market Cap $6.34 Billion _that_ is what's holding it up, that and a lot of future plans for the technology.

>>	Anonymous Tue Feb 25 10:16:47 2014 No.135655 File: 205 KB, 500x500, 1392339376082.gif [View same] [iqdb] [saucenao] [google] >>135634 >worlds largest pump and dump >dying Not on your life

Anonymous Tue Feb 25 10:17:17 2014 No.135658

>>135651

Price and indicators are up now that people have made it into work, logged into their accounts and started trading again.

You butt devastated guys are going to be pissed when we're back to $600 by tomorrow.

http://bitcoinwisdom.com/markets/bitstamp/btcusd

Indicators and prices are up.

Anonymous Tue Feb 25 10:18:46 2014 No.135667

>>135638
after getting into it for a while I realized how stupid and useless it was, now I'm just shorting. 100% in fiat on bitfinex.

>>135642
yeah I watched that bullshit in action, see >>135366

hopefully these manipulators will watch in horror as their reserves get eaten up and the price flash-crashes all the harder.

>>	Anonymous Tue Feb 25 10:18:46 2014 No.135668 File: 123 KB, 800x458, Second Life Ginko collapse.jpg [View same] [iqdb] [saucenao] [google] This all seems so familiar.

>>	Anonymous Tue Feb 25 10:20:16 2014 No.135680 >>135668 >second life bank run AHAHAHAHAHAHA

>>	Anonymous Tue Feb 25 10:21:16 2014 No.135682 File: 112 KB, 244x368, antichrist.png [View same] [iqdb] [saucenao] [google] >>135658 >back to $6 by tomorrow fix'd.

>>	Anonymous Tue Feb 25 10:22:17 2014 No.135687 >>135682 Ha, that's actually really funny . 10/10

Anonymous Tue Feb 25 10:23:17 2014 No.135696

>>135667
To be honest, at this point I'm convinced there aren't all that many coins in circulation anymore. So the price holds up because it's not even possible for the "normal" users to sell as many coins as needed to crash it fully.

What is possible is that at the end, the normal users have pulled out... and the hoarders realize they sit on a pile of coins they can't use anymore because trade died.

Anonymous Tue Feb 25 10:25:16 2014 No.135704
File: 128 KB, 800x599, 1393341905045.jpg [View same] [iqdb] [saucenao] [google]

>>135634
http://en.wikipedia.org/wiki/Escalation_of_commitment

All those randians who blew all their money on buttcoin mining rigs...
They are the ones keeping this shit-show on the road that is "Bitcoin"
http://bitcoinrigs.org/product/asicminer-block-erupter-usb-bitcoin-miner/

>>	Anonymous Tue Feb 25 10:25:47 2014 No.135705 >>135649 >that and a lot of future plans for the technology like what

>>	Anonymous Tue Feb 25 10:25:47 2014 No.135706 >>135696 The first hoarders who realize what's going on will start to buy as much stuff as they can from merchants dumb enough to use Coinbase. That's when Coinbase will itself collapse, because Coinbase won't have the USD needed to pay merchants.

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 10:25:47 2014 No.135707 >>135696 the 2% will most likely inject more coins into the market if need be, or else their fortune would drop in value very quickly

>>	Anonymous Tue Feb 25 10:26:17 2014 No.135711 >>132580 >some online newspaper writes an article about a story >this now officially happened

>>	King of Shitposting !HI80DECbKc Tue Feb 25 10:27:16 2014 No.135719 I have to kiss 258.4BTC goodbye, I guess. What a crock of shit.

Anonymous Tue Feb 25 10:27:47 2014 No.135717

>>135706
And then it's "just another failed exchange".
>>135707
But if they inject, someone else has to be the bigger fool, or that injection crashes the market again. That would only lead to them pushing the coins towards each other. Empty trade, so to speak, without any connection to real markets.

>>	Anonymous Tue Feb 25 10:28:16 2014 No.135720 >>134819 >power of compounding interest, the most powerful law in the universe Compounding always crashes.

>>	Anonymous Tue Feb 25 10:29:17 2014 No.135732 File: 125 KB, 724x490, boku.jpg [View same] [iqdb] [saucenao] [google] >>135719 im sorry bro

Anonymous Tue Feb 25 10:29:47 2014 No.135730
File: 3 KB, 250x242, 1284986850520.gif [View same] [iqdb] [saucenao] [google]

>>134939

How did he lose something he either never had or else gave away? I refuse to believe anyone would buy 357k worth of btc.

There is little more toxic to the soul and mind involving resources as when you convince yourself that you lost something you never made. It's greed gone mad. People suing over dollars they didnt make. It's a perversion of reality and people bank on it. It's the mind adding "should" to reality, and a vendetta against fate for what the timeline of reality produced, shaking one's fist at fate.

I dont understand it and think its a disgusting self-abusive way of looking at resource placement. It's natural for a farmer to be sadden by a destructive flood or storm. It's unnatural to demand it should not have happened. Thats just crazy.

>>	Anonymous Tue Feb 25 10:30:17 2014 No.135740 >>135706 >>135696 that would explain why bitcoin doesn't react "right" to market forces. When I'm online I can see the walls and shit happening, but until I watched the 400 today I didn't realize how much control they were exerting over the market.

>>	Anonymous Tue Feb 25 10:30:47 2014 No.135736 >>135001 Somebody with a lot more money than you.

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 10:30:47 2014 No.135737 >>135717 >But if they inject, someone else has to be the bigger fool, or that injection crashes the market again. ? >>135719 why would you keep that much coin on an exchange?

>>	Anonymous Tue Feb 25 10:30:47 2014 No.135738 >>135719 it's going to a good cause. just think of all the teens he's gonna fuck on private yachts thanks to you.

Anonymous Tue Feb 25 10:31:17 2014 No.135742
File: 63 KB, 480x640, IMAGE_013.jpg [View same] [iqdb] [saucenao] [google]

Mark Karpeles & Stephane Portha from 2004 laughing at how stupid the lemmings are.

These were not "hacks" or "mistakes" they simply stole all the bitcoins for themselves, cashed out and ran away!

People need to seriously look at who was involved and start the civil and criminal prosecutions.

Anonymous Tue Feb 25 10:33:16 2014 No.135753

>>135737
Well, if they all hold, their stock drops in value due to a lack of trade.
But if they inject, someone else has to buy again - someone who at that point probably would like to cash out himself but can't anymore because - again - he fears the market would collapse.

And those who try to cash out will realize that eventually the exchanges break down as well.

It's a scenario that eventually has to collapse.

>>	Anonymous Tue Feb 25 10:34:17 2014 No.135766 >>135720 My thought too. It's sort of written into it.

>>	Anonymous Tue Feb 25 10:34:47 2014 No.135763 >>135742 good luck proving in court you ever owned bitcoins.

Anonymous Tue Feb 25 10:35:18 2014 No.135775

>>135763
That shouldn't be the problem. The problem is probably to actually get them.

Either they don't have them anymore... or they have them somewhere on a hard drive hidden away and claim they don't have them anymore. And then? They declare themselves bankrupt and that's it.

Anonymous Tue Feb 25 10:35:47 2014 No.135772

Dear MtGox Customers,

In the event of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.

Best regards,
MtGox Team

>>	Anonymous Tue Feb 25 10:35:47 2014 No.135773 >>135668 Why do human beings continually fall for things like this?

>>	Anonymous Tue Feb 25 10:36:16 2014 No.135783 >>134988 >the ever widening wallet size(6GB and counting) It's blockchain size, and that is now at ~17GB.

>>	Anonymous Tue Feb 25 10:36:47 2014 No.135781 >>135772 oh wow

Anonymous Tue Feb 25 10:37:16 2014 No.135785

>>135753
>stock drops in value due to a lack of trade.

Not how it works apparently. Divide Market cap by total supply and you get.........the price!

You can say definitively where the price will be if X amount of coins are bought and/or sold.

http://coinmarketcap.com/mineable.html

Is all currency trade like this? I guess so, maybe it's the USD that really backs it all so that is where real value and arbitrage potential comes from? I'm not savvy enough to know.

>>	Anonymous Tue Feb 25 10:37:16 2014 No.135786 File: 17 KB, 250x181, 1385509149847.jpg [View same] [iqdb] [saucenao] [google] >>135772 >mfw delusionfags will interpret this as a sign that they still have a chance to get their coins back

>>	Anonymous Tue Feb 25 10:37:17 2014 No.135788 >>135738 he's going nowhere except a prison sell, he can not hide

>>	Anonymous Tue Feb 25 10:37:17 2014 No.135790 >>135775 >That shouldn't be the problem Really? How would you prove Mtgox owed you bitcoins? a fucking print screen of your account? lol

>>	Anonymous Tue Feb 25 10:38:47 2014 No.135796 yes goy hoard money oops, you lost again

>>	Anonymous Tue Feb 25 10:38:47 2014 No.135797 File: 19 KB, 1366x623, DUNDUNDUN.png [View same] [iqdb] [saucenao] [google] Gais...

Anonymous Tue Feb 25 10:39:17 2014 No.135800

>>135785
But if the trade volume reaches very small levels compared to the held coins, the price becomes a pointless number, because anyone actually using their coins alters it drastically.
>>135790
Wait, those people didn't even keep logs of their trades?
Oh wow.

>>	Anonymous Tue Feb 25 10:39:17 2014 No.135802 >>135785 >Divide Market cap by total supply and you get.........the price! You get the "on-paper" price- not the price you'd actually get if everybody tried to sell at once. Market cap is a phantom.

>>	Anonymous Tue Feb 25 10:40:16 2014 No.135804 >>135773 I believe it's hivemind psychology.

>>	Anonymous Tue Feb 25 10:41:46 2014 No.135812 >>135788 >prison people that rich don't go to prison. he's rolling in vaginas from now until the day some angry goxer finds him and laces her crotch with ricin.

>>	Anonymous Tue Feb 25 10:41:46 2014 No.135814 Is that the worst update ever lol??

>>	Anonymous Tue Feb 25 10:42:17 2014 No.135823 >>135797 Can you imagine if a real bank closed down and left a message like this?

>>	Anonymous Tue Feb 25 10:43:17 2014 No.135824 >>135812 oh yeah what about Dread Pirate Roberts?

>>	Anonymous Tue Feb 25 10:44:17 2014 No.135827 File: 68 KB, 792x528, 1393343044281.jpg [View same] [iqdb] [saucenao] [google] >>135823

Anonymous Tue Feb 25 10:44:17 2014 No.135835
File: 8 KB, 256x264, 1391450205988.gif [View same] [iqdb] [saucenao] [google]

>>135605

Where the hell did i say that it's worthless, and why would I be threatening 0$?
That's absurd.
Stop jumping to conclusions, 10$ or 100$ isn't worthless.

I'm saying that it's inflated to retard level heights.
There's absolutely no reason for it to stay +500$ this is something you can barely use at this point, and it's unstable and unpredictable as fuck.
Also it's managing to scare the general public away pretty well, keep in mind that media is yet to even begin the rape that's bound to ensue.

Sure it's always going to be used, but if it never gets positive worldwide adoption, this shit is never ever going to reach Bitcoinfags absurd price estimates, 40k per coin or even higher. Let alone go near 1k again.
Now that China and Russia and few other places have said no to it, the worldwide government supported adoption WILL NEVER happen.

It's not going to hit 0$ ever.
There are always going to be buyers and players, me being one of them.
The fluctuations are just way too easy to play, this is free money with very little effort.
But my confidence was lost the moment we went +300$ I used to sleep in Crypto, but after we got inflated to these heights, I haven't kept any crypto unless I was there constantly watching the price.

And if people think that the price is going back up now, did you see the stamp whales that dumped it to 400$? They just gave up the moment it reached 400$ and stopped dumping.
This shit is far from over. They are still holding tons of coins and they plan to get rid of them.

>>	Anonymous Tue Feb 25 10:44:17 2014 No.135836 >>135824 but he was a drugist, forcing entire cannabisses on newborns. also he was probably poor as fuck, don't suppose he cashed out much.

>>	Anonymous Tue Feb 25 10:44:17 2014 No.135837 >>135824 He's a criminal drug dealer. Bankers aren't criminal, they move to non-extradition countries and snort coke off dead babies.

>>	Anonymous Tue Feb 25 10:44:48 2014 No.135828 File: 23 KB, 425x425, arc.jpg [View same] [iqdb] [saucenao] [google] >>135668 A "deja vu" is a glitch in the matrix. It usually happens when they change something.

>>	Anonymous Tue Feb 25 10:46:17 2014 No.135845 File: 1.00 MB, 242x227, 1376629027050.gif [View same] [iqdb] [saucenao] [google] >>135797 Just die already.

>>	Anonymous Tue Feb 25 10:46:46 2014 No.135842 http://www.forbes.com/sites/cameronkeng/2014/02/25/bitcoins-mt-gox-shuts-down-loses-409200000-dollars-recovery-steps-and-taking-your-tax-losses/ >but don't worry- you can claim losses on your taxes! is this shithead for real?

>>	Anonymous Tue Feb 25 10:46:46 2014 No.135843 >>135797 Take your time, it's not you're holding people's lives in your hands.

>>	Anonymous Tue Feb 25 10:47:17 2014 No.135846 >>135843 They're just bitcoiners, it's not like he's hurting real people.

>>	Anonymous Tue Feb 25 10:47:17 2014 No.135851 >>135842 Probably. If you have a financial business? Just write it off.

>>	Anonymous Tue Feb 25 10:47:47 2014 No.135847 >>133372 It's hard to feel bad for these people when they keep pretending they didn't lose much and everything will be fine if they keep throwing money at it

>>	Anonymous Tue Feb 25 10:47:47 2014 No.135849 >>135842 It means that for any future income, you can claim no tax as you lost your btc earnings on gox defualt....if you live in US. How is that hard to comprehend?

>>	Anonymous Tue Feb 25 10:48:17 2014 No.135860 >>135847 It's normal behaviour for people who got scammed. It also shows up in ever MLM scam ever.

>>	Anonymous Tue Feb 25 10:49:16 2014 No.135866 >>135863 You don't have to lose money to write it off, losing assets in general counts. Bitcoins are a tradeable commodity, losing it means you lose assets.

>>	Anonymous Tue Feb 25 10:49:17 2014 No.135863 >>135842 >>but don't worry- you can claim losses on your taxes! Can they even really do that? It's not real money.

>>	Anonymous Tue Feb 25 10:50:16 2014 No.135869 >>135849 you can only claim a loss once.

Anonymous Tue Feb 25 10:51:05 2014 No.135879

call me delusional but i sincerely believe that mt goyim will not only re-enable external transfer of coin, but that the price will rebound to $1500 by the end of march

bitcoin went through at least two crashes were 90% of its value was erased, and both times they were caused by mt goyim, and both times it recovered. this recent crash is nowhere near as bad percentage wise as previous crashes and mt gox has a history of pulling stupid shit like this all the time

>>	Anonymous Tue Feb 25 10:52:06 2014 No.135884 If we had a basic income, making a bad investment wouldn't ruin you. Just FYI.

>>	Anonymous Tue Feb 25 10:52:35 2014 No.135881 File: 371 KB, 1056x603, 1393343526955.png [View same] [iqdb] [saucenao] [google] >dat moment when it's pronounced "Doggycoin" and all this time you've been pronouncing it "dougecoin" http://www.youtube.com/watch?v=T9I-UA4IBOc

>>	Anonymous Tue Feb 25 10:53:06 2014 No.135892 >>135879 >call me delusional but i sincerely believe that mt goyim will not only re-enable external transfer of coin, but that the price will rebound to $1500 by the end of march You ARE delusional.

>>	Anonymous Tue Feb 25 10:54:36 2014 No.135898 File: 152 KB, 830x844, 1385912130570.png [View same] [iqdb] [saucenao] [google] >>135827 How long before the world does another holocaust? Do we need another hyperinflationary period of mass unemployment like the great depression?

>>	Anonymous Tue Feb 25 10:55:07 2014 No.135915 >>135892 this is the third time neckbeard true believers of bitcoin will recover from a major crash spawned by mt goyim, and they've grown exceedingly efficient at it.

>>	Anonymous Tue Feb 25 10:55:08 2014 No.135913 >gox officially says "we are stopping" >price rises another $10 on exchanges bitcoin doesn't even real...

>>	Anonymous Tue Feb 25 10:55:08 2014 No.135914 >>135860 MLM?

>>	Anonymous Tue Feb 25 10:55:38 2014 No.135907 File: 8 KB, 297x202, end it.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 25 10:55:38 2014 No.135908 >>135884 go stand in the corner and think about what you've said alternatively lurk moar

Anonymous Tue Feb 25 10:55:38 2014 No.135909

>>135772
>a decision was taken to close all transactions for the time being in order to protect the site and our users
>in order to protect the site and our users

Top kek.

I sent about 0.074 BTC to MtGox to try them out about a year ago. They immediately froze my account and wouldn't let me withdraw, so I went with BTC-E instead.

Back then, it wasn't worth much.

They've been "protecting" their users from their money for ages.

>>	Anonymous Tue Feb 25 10:56:06 2014 No.135918 File: 909 KB, 1298x1080, tyronement.png [View same] [iqdb] [saucenao] [google] >>135881 don't be mislead, friend; dodj is superior pronunciation.

>>	Anonymous Tue Feb 25 10:57:07 2014 No.135931 >>135909 But why didn't the free market fix it?

Anonymous Tue Feb 25 10:57:37 2014 No.135928

>>135898
Probably. The people don't stand up until it really, really hurts.

The problem is, causing a hyperinflation is actually pretty damn hard these days. What's gonna cause one if not printing trillions?

>>135914
Multi-level marketing. Basically, someone promises you that if you give him $200, he enables you to make a lot of money. You make that money by getting other people to give you $200. Preferrably in a monthly subscription to keep them in.

>>	Anonymous Tue Feb 25 10:58:07 2014 No.135934 >tfw you realize bitcoin will indefinitely follow a crash/hype cycle of going to $1k and then crashing to a hundred good way to make money

>>	Anonymous Tue Feb 25 10:58:07 2014 No.135939 >>133266 >I will rebut literally anything this guy states, no matter how fundamental the claim

>>	Anonymous Tue Feb 25 10:58:07 2014 No.135941 >>135931 Gox baited with higher offers. The price on gox was always higher than on other exchanges. Greed ruined it. Now the market fixes it.

>>	Anonymous Tue Feb 25 10:59:06 2014 No.135946 >>135915 except bitcoin has already peaked in exposure. there wont be any new investors to come bail every one out this time

Anonymous Tue Feb 25 10:59:37 2014 No.135945
File: 23 KB, 200x193, Ѭสีந் துҹต ѯக்குห้ தீクนӜ̵̨̄.jpg [View same] [iqdb] [saucenao] [google]

>>135773

The decency of trust. They are just people who want to do well. Predators exploit that trust and turn decent people into less decent people.

It's the same trust an animal has towards people it's been around it's whole life that allows people to walk right up to it and slaughter it. I hate to put it in those terms, but thats it.

I dont blame victims for having the decency of trust.

The trick is not to feel to bad for them either. Because over the course of their lives, statistically one of those victims, without even intending malice, will become predators themselves. It's due to the way the human mind tends to change values for what it wants and justifies it. I'm not sure it's good or bad, it just is. Ultimately, humans are predators, even the young and tame ones that get eaten.

I would say the trick to it is to accept that you and others, even the nice ones, are predators or can revert to it at any time; often naivete is the fatal subterfuge. (ask anyone whose been in love).

It doesn't mean you have to be vicious, but also accept the cost of trying to uphold peoples trust in your own ventures. It also doesn't mean you can't respect people, or that you have to be criminal.

But never lose sight of the fact that laws are written by people to control others, while the ones writing them are looking for any edge themselves. And laws protect no one. They only serve to keep masses from demanding better lawmakers.

And eventually, when the herd is disgusted enough with failure, tomes of laws don't prevent them from stampeding against their leaders anyways, but that is a separate discussion.

>>	Anonymous Tue Feb 25 11:00:36 2014 No.135953 >>135931 Companies failing is also part of the free market.

>>	Anonymous Tue Feb 25 11:00:37 2014 No.135951 >>134002 >acq So... uh... "acq" = >>135797 ...?

>>	Anonymous Tue Feb 25 11:01:06 2014 No.135963 >>135941 Fixed the owners of gox strait to the bank, glad to know capitalism is about rewarding those who cheat people out of their wealth.

>>	Anonymous Tue Feb 25 11:01:36 2014 No.135959 >>135951 Acquisition. I assume they got bought by a pseudocompany to offload responsibility.

>>	Anonymous Tue Feb 25 11:02:36 2014 No.135970 >>135860 True. It's part of interpreting the situation. They suffer enough. No need to kick them for doing the same things we would probably do ourselves is some venture crashed

>>	Anonymous Tue Feb 25 11:03:06 2014 No.135975 >>135953 They didn't fail because people stopped giving them money, they strait up robbed every one and ran for it.

>>	Anonymous Tue Feb 25 11:03:07 2014 No.135974 >>135963 That's what it always was about. But anyone who, in the year two thousand and fourteen, still doesn't realize that offers too good to be true usually aren't, deserves no pity. Just laughter.

>>	Anonymous Tue Feb 25 11:03:07 2014 No.135980 >>135879 Well, it is founded on faith I suppose. We can agree it is only adjusting. Adjusting to what exactly seems to be the question.

Anonymous Tue Feb 25 11:03:07 2014 No.135986

>>135835
>Where the hell did i say that it's worthless, and why would I be threatening 0$?
It seems that is what most here are saying. I assumed you were one of the "buttcoin" trolls.

>There's absolutely no reason for it to stay +500$ this is something you can barely use at this point, and it's unstable and unpredictable as fuck.
I don't really see a price point that isn't arbitrary at the moment. I don't see that $10 or $100 is any less arbitrary than $500. Any price is pretty much based on future expected use/value.

>Now that China and Russia and few other places have said no to it
Eh, it doesn't need those countries to be big. Their loss. As long as America and Europe don't ban it.

China has not said "No", rather they've said it will be heavily watched and controlled. Which is entirely expected.

And Russian black market will still use it of course.

>I haven't kept any crypto unless I was there constantly watching the price
You're doing it wrong. Don't keep crypto and constantly watch the price, that's a recipe for disaster. Keep any BTC investment in cold storage and check the price once a month.

If whales do dump, there will be other whales who will buy these cheap coins.

You're completely ignoring the patterns here. The dips, and then the manic rises again. Every long term bitcoin holder is fully expecting the price to spike again. People new to bitcoin in 2013 are getting scared, but those (including whales) who have been here longer are just happy to get some cheap coins again.

MtGox is a PR disaster, not a technology disaster. Assuming no more disasters, the price will go up again. People got a taste of $1000 bitcoins and now they know it can get that high, they buy believing it will at least get there again, and probably higher.

>>	Anonymous Tue Feb 25 11:03:37 2014 No.135979 >>135881 http://www.youtube.com/watch?v=F9BAzxqNNAA

Anonymous Tue Feb 25 11:05:07 2014 No.135992

>>135959
i hope you're right, and they'd better fucking honor their debts. i shat 20ltc all over mtgox yesterday, which gave me £170 after fees. the money didn't fucking show up, normally only takes 2 hours. guessing they'll just pretend it didn't happen, even though i have a receipt from the merchant site, showing i sent it.
can't even remember how many butcorns i had in there now, but i do know that i can't fucking afford this. this shit has probably just cost me my gf, who just shared her opinion of the whole thing, before screaming at me and going to her parents' house.

fucking hell, don't even have any btc to get high.

worst day ever.

Anonymous Tue Feb 25 11:05:37 2014 No.135995

>>135617
I lost 2 grand at mt gox, this is a tenth of my crypto holdings, which in turn is a much smaller part of my total investments. I can work and sweat and plan and invest and found and make back all that I have lost and more. You wasting time on things you aren't even a part of is the true loss. May you always depend on others financially.

>>	Anonymous Tue Feb 25 11:05:37 2014 No.135996 >Mt.Gox already has a history of delaying withdrawals >Mt.Gox already has a history of disabling trading >people STILL use that shitty exchange >act shocked when the site is finally closed down I'm sorry, but you deserve to lose your money.

>>	Anonymous Tue Feb 25 11:05:37 2014 No.135998 >>135974 rewarding people who use up resources to create financial scams, really doesn't seem like the most efficient economic method.

>>	Anonymous Tue Feb 25 11:05:37 2014 No.136001 File: 114 KB, 600x637, dotcombubble.jpg [View same] [iqdb] [saucenao] [google] https://www.youtube.com/watch?v=jPV7O4tAjD0

Anonymous Tue Feb 25 11:06:06 2014 No.136008

>>135992
>and they'd better fucking honor their debts
Please note how I said "pseudocompany". Founder possibly made up.
>but i do know that i can't fucking afford this
Well, lesson learned: Don't gamble with money that you can't afford to lose.
>>135998
Not for you, anyways.
For those rewarded? Hell yeah.

Anonymous Tue Feb 25 11:07:06 2014 No.136016

>>135975
>They didn't fail because people stopped giving them money

That's actually a big reason why they failed. If people kept giving them money, they could've met the weight of the withdrawal requests.

It was over for them when everyone wanted to withdraw and no one wanted to deposit

Kind of like when shit starts hitting the fan in ponzi schemes.

>>	Anonymous Tue Feb 25 11:07:36 2014 No.136014 >>135986 Typical pump and dump marketing pitch.

Anonymous Tue Feb 25 11:08:06 2014 No.136025

>>135092
>owning shares is like owning bitcoin

Why will nocoiners find out that it it is not money, currency, store of wealth, an investment fund, or any other one thing they try to define bitcoin as in the modern context. It goes far beyond all of those definitions, and if you don't get that, then get out of the way. Keep laughing, we like people laughing at us from the sidelines. Is there a cause and effect relationship there?

>>	Anonymous Tue Feb 25 11:08:07 2014 No.136021 >>135996 oh shut up

Anonymous Tue Feb 25 11:08:36 2014 No.136018

>>135946
i can't be arsed but do a quick search for how many institutional investors and other assorted wall street firms plan to get in on the shitcoin ride this year.

the average normalfag still hasn't hear of shitcoin yet. it's far from being in a state of maximum exposure, and i say this while holding no delusion that i'll break $10k or $100k per coin some either.

>>	Anonymous Tue Feb 25 11:09:36 2014 No.136029 >>136018 >the average normalfag still hasn't hear of shitcoin yet They've heard of it by now, they just don't know what the fuck it is.

>>	Anonymous Tue Feb 25 11:10:06 2014 No.136041 LET'S SAY ITS BIZZARRO WORLD And Gox has all of the Bitcoins. They're just being retarded. In 2 days, they open up shop and everything goes back to normal. What happens?

>>	Anonymous Tue Feb 25 11:10:07 2014 No.136039 >>136016 Internet funny munny doesn't have a deposit insurance mechanism so when an individual institution fails it hurts a lot of people.

Anonymous Tue Feb 25 11:10:07 2014 No.136040

>>136025
>Why will nocoiners find out that it it is not money, currency, store of wealth, an investment fund, or any other one thing they try to define bitcoin as in the modern context.

But if it's not any of those things, why should we spend our USD on it?

>>	Anonymous Tue Feb 25 11:10:36 2014 No.136038 >>136018 I'm sure, just like every other internet get rich fad that busted.

Anonymous Tue Feb 25 11:10:37 2014 No.136037
File: 62 KB, 531x411, frog-mouse.jpg [View same] [iqdb] [saucenao] [google]

>>135974

I can pity them. Until they start swamping the life boat I am on.

Dangerous business being in the water when someone in arms reach is drowning. They aren't trying to drag you down, they are just trying to survive. A fair analogy for the human condition, I suppose.

>>	Anonymous Tue Feb 25 11:11:06 2014 No.136049 >>136041 Everyone tries to withdraw their money and Gox shuts down again within an hour.

Anonymous Tue Feb 25 11:11:07 2014 No.136044

>>135945

>. It's due to the way the human mind tends to change values for what it wants and justifies it. I'm not sure it's good or bad, it just is. Ultimately, humans are predators, even the young and tame ones that get eaten.

Great post Xenomorphbro. Ultimately it's "Eat or be eaten".

It's analogous to bullying. Every human on this planet is either bullying or being bullied by someone else. Either bullying or manipulating. That guy earning minimum wage is being manipulated by his industry, yet he goes home and wields what little power he has over his family.

The trick is to become powerful but not lose your compassion.

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 11:11:07 2014 No.136045 >>136042 nope

>>	Anonymous Tue Feb 25 11:11:07 2014 No.136046 >>133668 You still have to be able to sell the stock.

>>	Anonymous Tue Feb 25 11:11:37 2014 No.136042 Can I FINALLY buy a fucking 290x at a normal price? Fuck you shitcoin fuckers.

>>	Anonymous Tue Feb 25 11:12:07 2014 No.136053 >>136041 >oh we had the coins all along oops Then nobody will want to keep doing business with Gox because rather than being incompetant they're just maliciously maniuplating the market. Would cause far more damage to bitcoins reputation.

>>	Anonymous Tue Feb 25 11:12:07 2014 No.136056 >>136042 >implying 290Xs are being bought to mine bitcoins and not scrypt Your wait is far from over.

>>	Anonymous Tue Feb 25 11:12:37 2014 No.136050 >>136041 Bank run on gox. Gox goes down regardless. 750,000 coins flood the exchanges.

>>	Anonymous Tue Feb 25 11:13:37 2014 No.136059 >>136021 You know it's true. If you went through a Russian exchange and they ended up taking your money and running, people would be saying, "I told you so."

>>	Anonymous Tue Feb 25 11:13:37 2014 No.136060 >>136041 You pretty much answered your own question: everything goes back to normal. The divide surrounding bitcoin and people who use them poorly is just what the exactly normal is.

Anonymous Tue Feb 25 11:13:37 2014 No.136063

>>136042
lol America. You should blame your capitalist pig retailers. Deamnd causing price hikes my ass. The card manu's sell at the same price as always. Your shitty supply chain is scamming you. Not so bad over here in Euro land. We get demand just the same and shortages but the prices stay relatively the same.

>>	Anonymous Tue Feb 25 11:13:37 2014 No.136064 >i-its going below 100$ they said Lmao Already up 30% from the 'crash' Anti. Fragile SA and SRS LOSE YET AGAIN More salt in the wound from when /g/ owned them hard tricking them into not mining

>>	Anonymous Tue Feb 25 11:16:06 2014 No.136082 File: 59 KB, 600x849, 1392571096473.jpg [View same] [iqdb] [saucenao] [google] Do you think Doge will go up or down in value once this blows over?

Anonymous Tue Feb 25 11:16:07 2014 No.136087
File: 2.39 MB, 320x240, 1393100742837.gif [View same] [iqdb] [saucenao] [google]

>>135879

You're delusional. Even China didn't pump it that high.

Also this is different, peoples opinion about BTC is changing.
They wont touch it with a 10 foot barge pole after something like this.

And the moment Gox holders get their money, they won't but let's say that a blue magical fairy gives them their money.
They are going to pull out of the market for good. Maybe 1 in 100 will be stupid enough to stay.
That combined with very little new money flooding into the markets, will drop the price to a waay lower stabilization point than 500$ or 400$
There's no fucking way it's going to sustain at these levels.

Bottom line is that the confidence is gone.
Only the delusional holders who have made an insane loss, who seem to account for the good portion of people trading atm, are keeping the price this high.
The moment they accept that this is going down the shitter, we are going to drop hard.

>>135986

My super cautious trading strategy has made me a nice profit, about ~20x. I'm going to stick to it.

10$ or 100$ is psychologically way more inviting than 500$
There's quite a drop from 500$, not so much from 100$.
Of course we know that this is complete BS as far as price or % goes, but this is how it works on psychological level.

I see this going down like the Dotcom bubble.
Sure we got a taste of +1k BTC but who the hell is going to pump it there?
If there is no new money and people don't believe in BTC then we aren't going to see those numbers again.

Black markets will use it, yeah but they were using it already before and we were, what under 100$ or something?
That's what people need to realize, we are this pumped because we expected a positive worldwide adoption supported by governments, but so far that isn't happening.
So in my opinion the price is just artificially mega inflated at this point.

>>136064

So it bounced from a strong support line, just like it did from 800, 700, 600, 500. Let's see how long this holds.

>>	Anonymous Tue Feb 25 11:17:37 2014 No.136090 >>135979 >doggycoin >shybes

>>	Anonymous Tue Feb 25 11:18:37 2014 No.136098 >>135740 Bitcoin does react to market forces, there just aren't that many of them and they are expensive to get. The people who have them don't want to sell below 500 big deal. Sorry your bet didn't work out.

>>	Anonymous Tue Feb 25 11:20:36 2014 No.136109 >>135992 what kinda amounts did you lose m8? I imagine a lot if it cost you girl, you in danger of losing assets or something?

>>	Anonymous Tue Feb 25 11:22:37 2014 No.136117 >this entire thread http://www.youtube.com/watch?v=u2mvTGUElC0

>>	Anonymous Tue Feb 25 11:22:37 2014 No.136118 >>136082 Up in value, since their value is relative to BTC and BTC is currently plummeting. Their value to USD will be the same.

Anonymous Tue Feb 25 11:23:07 2014 No.136124
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>>136087

You're very well reasoned and I admire that. I don't share your faith though. People can be really thick headed about new things when they think they can make a lot of money. Then theres the laundering potential,

... which make me wonder what the feds did with all those they confiscated

I also agree whole heartedly about 10 being better than 500 and your analogy to the dotcom bubble. I just dont see these heists, cons and glitches going away.

Which is a shame, because I think there is at least the potential for VCs to become something good.

http://www.forbes.com/sites/billfrezza/2014/02/07/why-bitcoin-must-die-long-live-bitcoin-2-0/

>>	Anonymous Tue Feb 25 11:24:38 2014 No.136128 File: 1.94 MB, 230x175, lellin2.gif [View same] [iqdb] [saucenao] [google] >>135879 God damn I love this board

>>	Anonymous Tue Feb 25 11:25:38 2014 No.136131 750K BTC Could you fit that on an SD card? Millions of $$ literally on somethjing the size of your nail

>>	Anonymous Tue Feb 25 11:27:08 2014 No.136146 >>136131 a single floppy disk could accommodate like 10 wallets. there's probably enough storage space in a tamagotchi to store billions of craptos.

>>	Anonymous Tue Feb 25 11:27:08 2014 No.136147 >>136131 Yes, easily. And I could fit 50 trillion elementary school fakebucks in a similarly small space by writing "50 TRILLION" on an index card and folding it up. The two have roughly the same real value.

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 11:27:08 2014 No.136151 >>136131 >size of your nail try the size of one of the grooves on your nail

>>	Anonymous Tue Feb 25 11:27:38 2014 No.136142 >>136131 hurr durr you could fit on a floppy drive.

>>	Anonymous Tue Feb 25 11:28:08 2014 No.136158 >>136117 nigga what's that supposed to be

>>	Anonymous Tue Feb 25 11:29:08 2014 No.136166 >>132482 >valueing their liabilities at the shitty depressed mt gox price

>>	Anonymous Tue Feb 25 11:29:08 2014 No.136168 https://www.youtube.com/watch?v=QYEC4TZsy-Y&feature=kp putting this out here for the faggots

>>	Anonymous Tue Feb 25 11:30:07 2014 No.136174 >>136131 The memory size of a Bitcoin wallet doesn't depend on how much Bitcoin is in it?

Anonymous Tue Feb 25 11:30:37 2014 No.136173
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>>136044

>The trick is to become powerful but not lose your compassion.

Well said. And better than keeping your compassion is controlling it. Which I guess is the default position anyways. Oddly, I suppose the effectiveness with which we control it can only be measured after the fact.

>>	Anonymous Tue Feb 25 11:31:38 2014 No.136178 MT GOX IS UP AGAIN

>>	Anonymous Tue Feb 25 11:32:07 2014 No.136185 >>136178 Really? That the best you can do?

>>	Anonymous Tue Feb 25 11:33:07 2014 No.136189 >>136178 >>>/b/

>>	Anonymous Tue Feb 25 11:34:37 2014 No.136195 >>134773 >>134785 >>135239 whats wrong with being edgy exaclty I think its pretty cool

>>	Anonymous Tue Feb 25 11:34:37 2014 No.136196 >>136174 not in my experience. about 64kb both empty and with 30 coins in it.

>>	Anonymous Tue Feb 25 11:36:08 2014 No.136209 >>136196 Depends on how you represent a wallet. A single private key takes almost no space, and can hold all the bitcoins in the world.

>>	Anonymous Tue Feb 25 11:38:09 2014 No.136217 File: 79 KB, 650x609, old hard disk.jpg [View same] [iqdb] [saucenao] [google] >>136146 >single floppy disk omigosh blast from the past

>>	Anonymous Tue Feb 25 11:39:07 2014 No.136223 >>136117 #powerful ayn rand

>>	Anonymous Tue Feb 25 11:40:08 2014 No.136224 File: 15 KB, 400x400, 1316691815763.png [View same] [iqdb] [saucenao] [google] Bitcoin? More like BITCH COIN! HAHA Am I right guys?

>>	Anonymous Tue Feb 25 11:41:08 2014 No.136233 >>135203 >largest exchange toplel

>>	Anonymous Tue Feb 25 11:41:08 2014 No.136234 when is it going to drop

>>	Anonymous Tue Feb 25 11:43:08 2014 No.136245 >>136234 It's done dropping for today I guess…

>>	Anonymous Tue Feb 25 11:44:07 2014 No.136258 >>136253 explain it then

>>	Anonymous Tue Feb 25 11:44:07 2014 No.136259 >>136245 guess i'll have to keep checking 24/7 all week then to see if there's going to be any more drops

Anonymous Tue Feb 25 11:44:38 2014 No.136253
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tfw nobody on /biz/ understand the bitcoin protocol from a computer science standpoint whether they are a supporter or not.

tfw supporters support for the wrong reasons

tfw naysayers dislike for the wrong reasons

tfw nobody understands the fundamental computer science problem that bitcoin solves

>>	Anonymous Tue Feb 25 11:45:07 2014 No.136265 >>136253 It doesn't matter what the computer science is. It doesn't matter how elegant the math is. These things do not give Bitcoin value, as the many, many alternative coins have proved.

>>	Anonymous Tue Feb 25 11:46:09 2014 No.136271 >>135783 it's so easy to tell the sour grape kids in this thread because of how obvious it is they are repeating things they don't understand.

>>	Anonymous Tue Feb 25 11:46:09 2014 No.136273 >>136253 So the real way to kill bitcoin is to make a 51% attack?

Anonymous Tue Feb 25 11:47:07 2014 No.136279

>>136253
Growth of the blockchain will kill bitcoin.
Or at least kill its decentralized system; only a few users will store a full copy of the transactions.
I don't look forward to the time when I will be buying another 4TB disk to hold a local copy of the bitcoin data.

Anonymous Tue Feb 25 11:47:07 2014 No.136280
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>>136124

Well thank you, it's actually pretty nice to have a intelligent conversation around here for a change.

The potential is there for sure, and I love the idea behind VC too.
The current system is so damn outdated that it's not even funny.
I do think that VC as an idea will live on and will succeed.

But I just can't bring myself to believe that Bitcoin will be the one to succeed.
There are way too many negative elements in it to make it big imo.
Just like that that article you posted suggested.

First of all I don't see banks allowing BTC to co-exist with them. They are going to want their share of the business. So what I think will happen in the end, is that Banks will roll out their own version of Crypto.

Something that they can monitor and profit from, it might not even be a real VC might just be a payment processor masked as a cypto or something along those lines, but at least they could provide a stable alternative to this.
Something I see the general public choosing over BTC.

And I don't really find that such a bad alternative to be honest, as much as I hate the way banks are conducting their business, at least bank backed VC would be secure and it would offer actual consumer protection.

But that's just speculation, it might not even happen, and probably never will, But that's something I've been thinking will happen ever since Bitcoin started gaining mainstream attention.

>>	Anonymous Tue Feb 25 11:47:07 2014 No.136281 >>136259 why not set up an app that emails you hourly status updates, or automate it to let you know when it drops below 300 or something

>>	Anonymous Tue Feb 25 11:47:38 2014 No.136276 File: 26 KB, 431x287, pooppost .jpg [View same] [iqdb] [saucenao] [google] >>136253 oh whatever nerds we still have atm cards.

>>	Anonymous Tue Feb 25 11:47:38 2014 No.136278 >>136265 The USD isnt worth the paper its printed on. Nobody cares about your bullshit.

>>	Anonymous Tue Feb 25 11:48:07 2014 No.136285 >>136259 For a real drop you need to get the media in one big circlejerk.

>>	Anonymous Tue Feb 25 11:49:08 2014 No.136297 File: 16 KB, 300x231, 1377633462651.jpg [View same] [iqdb] [saucenao] [google] >>132353 >mfw my brother bought buttcoins right during the previous peak

Anonymous Tue Feb 25 11:49:08 2014 No.136298

>>136265
http://blogs.cornell.edu/info4220/2013/03/29/bitcoin-and-the-double-spending-problem/

>>136258
Nothing gives anything value besides subjectivity. Regardless, bitcoin is a lot more than a store of value and transaction log. It can and will be used for much more abstract things that traditional money couldn't even be associated with.

http://voices.yahoo.com/bitcoin-20-explained-colored-coins-vs-mastercoin-vs-12475857.html

https://en.bitcoin.it/wiki/Contracts

Anonymous Tue Feb 25 11:50:08 2014 No.136302

>>136279
This is one of the biggest obstacles to everyone using bitcoin. When it takes days to download the blockchain in order to use your wallet it is complete shit. Light wallets like Multibit and Electrum etc sound good on paper but again rely on the blockchain being a trusted online contact point. If there is any weakness in the chain then it will fail.

>>	Anonymous Tue Feb 25 11:51:08 2014 No.136312 >>136302 What is exponential growth of bandwidth and storage capacity.

>>	Anonymous Tue Feb 25 11:53:07 2014 No.136318 >>136312 What are physical limits? Besides, remember that Net Neutrality is dead.

>>	Anonymous Tue Feb 25 11:53:07 2014 No.136319 >>136298 Woops, flipped the quotes.

>>	Anonymous Tue Feb 25 11:54:08 2014 No.136330 File: 453 KB, 500x500, mesmereyezing.gif [View same] [iqdb] [saucenao] [google] >>136280 Did read. I just don't have much to respond with since you pretty much already said it. take care :) btw I like your gif much better.

>>	Anonymous Tue Feb 25 11:54:38 2014 No.136335 >>136312 Not fast enough growth for most of the planet. Even on my 65Mbit connection it was too fucking slow and took up too much space for me to bother. I gave up after a day and got the light wallet client instead. Portability is also an issue.

Anonymous Tue Feb 25 12:00:37 2014 No.136365

>>136335
Obviously the third world won't be able to keep up. As long as users in industrialized countries keep a record of the blockchain, it's not even necessary.

The blockchain is currently around 13GB in size. On a 65Mbit connection it would take aprox. 27 minutes to download. You are either full of shit or very very impatient.

Either way, you chose a light wallet. Which is a perfectly fine choice. It's not necessary for every single person to hold a record of the blockchain.

>>	Anonymous Tue Feb 25 12:01:38 2014 No.136370 >>136302 >>136312 Is there anything preventing anyone from just inflating the blockchain using that exponential growth? Could I just send a satoshi back and forth between two wallets really, really quickly to generate a lot of transactions?

>>	Anonymous Tue Feb 25 12:01:38 2014 No.136371 >>136365 >On a 65Mbit connection it would take aprox. 27 minutes to download. >thinking that other people's upload can keep up with your download Have you never torrented anything in your life?

>>	Anonymous Tue Feb 25 12:02:38 2014 No.136374 >>136318 Physical limits? Seriously? How far out are we talking? Millions of years?

>>	Anonymous Tue Feb 25 12:03:07 2014 No.136386 >>136371 Yeah all the time. Anything with good seeds will max my connection speed. Bitcoin is VERY well seeded.

>>	Anonymous Tue Feb 25 12:09:07 2014 No.136421 >>136386 I have 100/10Mbit connection and it took forever to download the damn thing. Won't be long till we are going to have fun downloading +100Gb blockchains.

>>	Anonymous Tue Feb 25 12:09:07 2014 No.136424 >>136370 No, there's something called "dust protection". >>136374 Try to double anything for a long number of cycles. Soon the amount becomes overwhelming.

Zed !ZF41dz6F/Y Tue Feb 25 12:10:08 2014 No.136430
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>"OMG VIRTUAL MONIES!!"
>"WAT CUD POSSIBLY GO WRONG?!?!?"
MFW
You fucking Millennials will fall for ANY GODDAMN THING EVER, provided someone just sells it to you as the latest greatest gearnerd techsperg next gen bullshit that all the cool kids have. Fucking BitCoins, LOL. Jesus wept, I can't wait to see what you retard children get gypped out of next. It's like watching a Laurel and Hardy movie, just one pratfall after another

It's cool, you're all still young. You'll learn. The hard way, but you'll learn.

>>	Anonymous Tue Feb 25 12:10:37 2014 No.136429 You idiots were told a billion times it was a bad idea.

>>	Anonymous Tue Feb 25 12:11:07 2014 No.136438 >>136430 >Zed Look guys it's Zed Shaw

>>	Anonymous Tue Feb 25 12:13:37 2014 No.136442 >mtgox shits itself >bitcoin tanks for like 20 minutes, then recovers >is already on an upswing kek

Anonymous Tue Feb 25 12:14:07 2014 No.136455

>>136424
I understand exponential growth.

We are just now building rudimentary nano tech, meaning machines on a nano scale. Our phones have the computing power and storage capacity of supercomputers from three decades ago tens thousands of times over, while also being thousands of times smaller.

In a decade or two, we will have nano machines with the capacity of our home desktops or more while picotech emerges.

To assume that we are nearing physical limits is naive at best.

>>	Anonymous Tue Feb 25 12:14:38 2014 No.136452 File: 139 KB, 1500x1622, FAL.png [View same] [iqdb] [saucenao] [google] >>136430 I'm drying my tears with the thousands of dollars I made from my crypto investments.

>>	Anonymous Tue Feb 25 12:14:39 2014 No.136451 File: 1.93 MB, 390x219, 1383829266435.gif [View same] [iqdb] [saucenao] [google] >meanwhile, invested in TSLA >up 15% today >mon visage

>>	Zed !ZF41dz6F/Y Tue Feb 25 12:15:08 2014 No.136461 File: 58 KB, 702x535, teddy2.jpg [View same] [iqdb] [saucenao] [google] >>136430 >"HURR DURR BITCOENZ SAME-SAME ATM MASHEENZ AN BAENK AKOUNTZ!" O lawd, that was a good one!

>>	Anonymous Tue Feb 25 12:17:08 2014 No.136470 >>136455 >To assume that we are nearing physical limits is naive at best. ... we are. Atoms have limited sizes.

Anonymous Tue Feb 25 12:17:37 2014 No.136477

>>136430

Anyone with a barely functioning brain would have gotten out of this with a nice profit.

The greed is what fucks people over.
Waiting for that 10k BTC rather than selling +800$ is what kills the man.
People are waiting to be millionaires instead of taking that couple of k profit.

>>136442

Upswing being the keyword here.
It's just a bounce from a strong support line, just like 800,700,600,500 and so on.
We have been coming down for a 1.5 months now, this isn't just some hiccup that happened because of Gox fucking up.

>>	Zed !ZF41dz6F/Y Tue Feb 25 12:17:38 2014 No.136473 >>136461 >"OMG FUK U DUMY BITCOIN SOELV PRAHBAMS WIF NORMAL MONIES!!" AAHAHAHAHHAHAHAHAHAHHAHAHAHAHno

>>	Anonymous Tue Feb 25 12:17:38 2014 No.136476 >>136455 How far are the logic units in chips from atomic size nowadays? There's not much spare room there.

>>	Zed !ZF41dz6F/Y Tue Feb 25 12:18:08 2014 No.136486 File: 11 KB, 293x251, teddy4.jpg [View same] [iqdb] [saucenao] [google] >>136461 (You) >"OMG FUK U DUMY BITCOIN SOELV PRAHBAMS WIF NORMAL MONIES!!" AAHAHAHAHHAHAHAHAHAHHAHAHAHAHno

>>	Anonymous Tue Feb 25 12:18:08 2014 No.136487 >>136452 >made money by selling to some other sucker Congratulations, you have won the zero sum game

>>	Anonymous Tue Feb 25 12:18:08 2014 No.136488 >>136217 > $3398/10mb > $356,306,124/1tb even apple charges less than this.

>>	Anonymous Tue Feb 25 12:18:38 2014 No.136483 >>133406 >>133416 Why why why why why why why. Why the fuck would you keep that many coins on the fucking exchange. I am smashing the keyboard. How are people so fucking stupid?

>>	Anonymous Tue Feb 25 12:19:07 2014 No.136497 >>136470 Recent advances in quantum computing actually give me hope. >Implying atoms are as small as things go >Implying there is no away around size limitations on the quantum level Apply yourself.

>>	Anonymous Tue Feb 25 12:19:08 2014 No.136490 The block chain size has linear upper limits on growth. Storage size/$ grows every year exponentially. There's no size concerns on storage of the blockchain. Distribution is a bigger concern, but not everyone needs the full blockchain.

>>	Anonymous Tue Feb 25 12:19:08 2014 No.136495 This whole fad is despicable and gigantic waste of time and resources. It's disgusting

>>	Zed !ZF41dz6F/Y Tue Feb 25 12:20:07 2014 No.136502 File: 5 KB, 185x148, teddy5.jpg [View same] [iqdb] [saucenao] [google] >>136486 >"HARUMPH HARUMPH WELL IM SURE THE MT GOX PROBLEM WILL NEVER ARISE AGAIN IN ANY WAY SHAPE OR FORM. COUGH" O lawd!

>>	Anonymous Tue Feb 25 12:21:07 2014 No.136513 >>136451 nice

>>	Anonymous Tue Feb 25 12:21:08 2014 No.136504 >>136490 Actually, magnetic storage is hitting levels where things start to break down. And flash isn't nearly on magnetic level and won't go up that far either, because the components are pretty big as it turns out.

>>	Wu-tang Financial !!l7zy8Y9Mkec Tue Feb 25 12:22:08 2014 No.136518 There is nothing preventing any other exchange from going tits-up.

Ulrik !!Dot69Lt2vXk Tue Feb 25 12:22:37 2014 No.136515

I never used Mt. Gox because I was uncomfortable with the fact they controlled 80% of the market. Something about a company having that much control bothers me when one of the major points to Bitcoin is that it's supposed to be decentralized.

This whole Mt. Gox thing has me panicked enough that I went ahead and sold out all my Bitcoins. I made a small profit (couple hundred). Perhaps it will rise again once thing settle down from the Mt. Gox fiasco, but that's not a risk I want to take. It's just too risky. I decided to sell out. I fear that Bitcoin might be dying.

Anonymous Tue Feb 25 12:23:07 2014 No.136521

>>136504
Ok... But the block chain growth is still linear. We are many many years away from filling up a 4TB drive. If we actually get to the stage where bit coin transactions are actually filling up all the blocks, then there would be large companies who have a financial incentive to store the blockchain on better media.

>>	Anonymous Tue Feb 25 12:24:07 2014 No.136528 >>136521 Well, there is the problem that the more people bitcoin use, the faster the blockchain grows.

>>	Anonymous Tue Feb 25 12:24:38 2014 No.136527 >>136518 Competence. You could apply the same logic to any corporation.

>>	Anonymous Tue Feb 25 12:25:37 2014 No.136536 >>136521 Oh, and also... > store the blockchain on better media. Like what? More drives? Slow tapes?

>>	Anonymous Tue Feb 25 12:25:38 2014 No.136533 >>136521 But I thought the whole point of bitcoin was that we wouldn't have to trust large companies with our money.

>>	Anonymous Tue Feb 25 12:25:59 2014 No.136537 >>136504 This implies that magnetic storage is the endpoint.

>>	Anonymous Tue Feb 25 12:26:58 2014 No.136544 >>136537 We currently don't have anything better. Getting something better would be neat, but I wouldn't bet on it.

>>	Anonymous Tue Feb 25 12:27:27 2014 No.136552 >>136544 Look into 3D magnetic storage. Also, >but I wouldn't bet on it Yeah I mean, let's not assume that there are technologies we haven't discovered yet, that would be foolish right?

Anonymous Tue Feb 25 12:27:28 2014 No.136547
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http://www.marketwatch.com/story/regulator-to-sound-alarm-on-bitcoin-2014-02-24?link=MW_latest_news

"... Investors describe repeatedly being asked to provide information that any reputable financial company should not have had to request, such as linked bank-account numbers, amounts on account with the exchange—both in bitcoin and in dollars—and more. Expedited requests—where customers were willing to pay fees of 5% to have withdrawals processed “manually”—wound up taking weeks and were going unfilled; Borg noted that, in this day and age, any suggestion that “manual processing” is faster is alarming.

>>	Anonymous Tue Feb 25 12:28:27 2014 No.136554 >>136477 >Waiting for that 10k BTC rather than selling +800$ is what kills the man. no more greedy than waiting at 80 for it to hit 800, or waiting at 6 for it to hit 80 sometimes idiots get lucky

Anonymous Tue Feb 25 12:28:27 2014 No.136555

>>136536
Ssd tech is growing fast. The max size on a block is 1MB per block, with 6 blocks an hour. That works out to 51GB per year. We are WELL under that right now, and even a single SSD can store several years worth of the blockchain in the worst case.

>>	Anonymous Tue Feb 25 12:28:28 2014 No.136558 >>136477 >The greed is what fucks people over. >Waiting for that 10k BTC rather than selling +800$ is what kills the man. >People are waiting to be millionaires instead of taking that couple of k profit. Again, well said.

>>	Anonymous Tue Feb 25 12:29:58 2014 No.136565 >>136552 No, let's not assume that undeveloped technology will be ready for use when we need it, and then rely on that.

>>	Anonymous Tue Feb 25 12:29:58 2014 No.136567 >>136554 Or selling at 500 while you still can.

>>	Anonymous Tue Feb 25 12:34:28 2014 No.136600 look at that dead cat bounce!

>>	Anonymous Tue Feb 25 12:35:28 2014 No.136607 File: 9 KB, 225x250, 1389208181899.jpg [View same] [iqdb] [saucenao] [google] >>134067 >Being this boobty blasted over cryptos

Anonymous Tue Feb 25 12:35:28 2014 No.136609

>>136565
The blockchain's size is nowhere near current day storage limits, and tech is already being developed to increase that to 100+TB on just one drive. That gives us a overly reasonable amount of time.

Do you think physicists are just going to sit on their thumbs after 3D Magnetic Storage has matured?

Ultimately what I'm saying is that the limits are so far from being overtaken by the blockchain that there is no need to worry about it for the time being. Even if you are right, and we don't develop storage technology any further, it's still such a distant problem that it could be reasoned that a technology beyond bitcoin would overtake it.

>>	Anonymous Tue Feb 25 12:37:27 2014 No.136622 >>136567 if you didn't sell at 1000 you were misguided, if you didn't sell two days ago when mt gox threatened to go under you're literally retarded

Anonymous Tue Feb 25 12:38:28 2014 No.136629

>>136554

There are signs that can be read. You can take profits without just sitting there as the horizon darkens.

It is, for example, no crime to get back into some VCs, even btc when things correct. It isnt about "good" or "bad" because of the arbitrary nature of the units. You can invest in wholly ridiculous things and still do well. It isnt the value of the venture from a subjective perspective, just how you manage it. People lose money on legit ventures while others profit from hare-brained ventures every day.

You can take profits, and after the picture develops, jump right back in later if it looks like its going rebound some. People do this everyday and could give a crap about the "actual" value of something. They just trade on the volatility, or perception of something and do fine, whether it's GOOG or penny stocks.

>>	Anonymous Tue Feb 25 12:38:28 2014 No.136633 >>134067 /biz/ first copypasta?

>>	Anonymous Tue Feb 25 12:38:58 2014 No.136636 >>136633 It is now.

Anonymous Tue Feb 25 12:41:28 2014 No.136651
File: 17 KB, 390x353, tumblr_m5f5y3pFxF1r01t8wo1_400.jpg [View same] [iqdb] [saucenao] [google]

http://en.wikipedia.org/wiki/Magic:_The_Gathering_Online

Reminder:
Mt.Gox is short for "Magic The Gathering Online eXchange"
And no, not for physically trading "Magic the Gathering" cards.
it was for exchanging virtual cards, used in the on-line version of the game.

Anonymous Tue Feb 25 12:41:57 2014 No.136650

>>132797
I was collecting shekels at a bottom of a wishing fountain at the supermarket when Moishe called on my old 90's mobile phone. I was all 'no'. I couldn't believe it. Then we burst into laughter. HaMakom yenachem etchem betoch sh’ar aveilei Tziyon V’Yerushalayim.

>>	Anonymous Tue Feb 25 12:44:28 2014 No.136661 So why the fuck did they do this? Being the main exchange they were already rolling in dosh.

>>	Mad_Jack !!TZqeeXXyW94 Tue Feb 25 12:44:58 2014 No.136666 >>136430 Zed, do you really have to shit up other boards too? I leave /k/ to escape your reckless faggotry. This board was built partly because of cryptocurrency threads on /g/ and /pol/. Go remove your teeth with a sledgehammer.

>>	Anonymous Tue Feb 25 12:46:27 2014 No.136675 >>136661 Prices fell, fractional reserve system blew up, people wanted but didn't get their money, trust lost, bank run. Okay, the last step was yet to happen. They just closed the door before it could.

>>	Anonymous Tue Feb 25 12:46:57 2014 No.136677 >>136666 Zed is actually one of the best posters on 4chan, and people don't realize it.

Anonymous Tue Feb 25 12:48:27 2014 No.136689

>>132771
I've been a high-volume TF2 trader for quite a while, and let me tell you, this shit would be useless without another currency to back it up. Nobody will accept buds or keys or metal as payment since they can't be divided and the math is retarded.

2 weapons = 1 scrap metal
3 scrap = 1 reclaimed
3 reclaimed = 1 refined
7.22 refined = 1 key
5 keys 4 refined = 1 Bill's
18 keys = 1 bud

And don't get me started on trading between games. CS:GO keys and TF2 keys, despite having the same input cost of $2.50, have differing free market prices because the latter is far more abundant.

It's a fucking mess. The only reason the trading scene is so healthy is because it's propped up by actual cash solutions like Bitcoin and PayPal

>>	Anonymous Tue Feb 25 12:49:28 2014 No.136696 File: 59 KB, 612x587, 1379988374645.jpg [View same] [iqdb] [saucenao] [google] >>136650 pfftpftpft

>>	Anonymous Tue Feb 25 12:53:28 2014 No.136717 File: 29 KB, 215x316, nwabudike morgan approves.jpg [View same] [iqdb] [saucenao] [google] >>134939 Man, is his kid going to be pissed when he grows up and learns his dad pissed away his college money on modern-day scrip

>>	Anonymous Tue Feb 25 12:53:58 2014 No.136719 What exchange is best for a Muricafag? I just found out that Bitstamp is difficult to work with for small transactions outside of Euroland

Anonymous Tue Feb 25 12:55:57 2014 No.136728
File: 61 KB, 1220x1752, ffst_1.jpg [View same] [iqdb] [saucenao] [google]

Mark Marie Robert Karpeles will likely try to hide out in France.

Most likely at his parents house in 40 Rue Veron 94140 Alfortville or with scamming buddy Stephane Portha at 21 Rue Defecamp 75012 Paris

Since France is a country of scum criminals that does not extradite, a snatch and grab or other rendition methods may be necessary.

>>	Anonymous Tue Feb 25 12:56:28 2014 No.136734 File: 141 KB, 501x585, 1392823668705.jpg [View same] [iqdb] [saucenao] [google] >>134939 >357,000 Invested onto bitcoins.

>>	Anonymous Tue Feb 25 12:57:28 2014 No.136737 >>136719 localbitcoins

>>	Anonymous Tue Feb 25 12:58:27 2014 No.136746 >>136719 Assuming you aren't going to be buying more than 100 bitcoins a day, use coinbase. It's not really an exchange but it acts similarly to one.

>>	Anonymous Tue Feb 25 12:58:58 2014 No.136753 >>136515 Hi Ulrik! Idk if its dying, as in terminally. But your perspective seems solid.

>>	Anonymous Tue Feb 25 12:59:57 2014 No.136756 >>136746 I'm working with small potatoes at first. Thanks

>>	Anonymous Tue Feb 25 13:00:58 2014 No.136763 >>136515 Bitcoin itself may or may not have a grim future ahead of it, but the technology by itself is revolutionary and here to stay whether its marketed as bitcoin or fishtokens.

Anonymous Tue Feb 25 13:03:57 2014 No.136779
File: 51 KB, 400x300, mom.jpg [View same] [iqdb] [saucenao] [google]

Hey son, how's that Bitcoin working out for ya? Guess you'll listen to me next time I tell you not to buy monopoly money, huh? Your mom knows a thing or two about ponzi schemes, honey. You really should have listened to me.

>>	Anonymous Tue Feb 25 13:05:27 2014 No.136789 This whole thing in short form: www.youtube.com/watch?v=0dIMJKd9cHQ

>>	Anonymous Tue Feb 25 13:07:27 2014 No.136796 >>136763 That may be true, but I don't think it was meant to be traded as a commodity. Just a means of exchanging value.

>>	Anonymous Tue Feb 25 13:09:27 2014 No.136806 >all these ELS shills I thought BTC had crashed? It's currently 500 USD on BTCE. If you bought before November (i.e. aren't a retard) then you're currently making a profit

>>	Anonymous Tue Feb 25 13:09:28 2014 No.136804 >>136796 Then it was designed incorrectly. A deflationary currency always encourages hoarding and speculation, while discouraging spending.

>>	Anonymous Tue Feb 25 13:10:31 2014 No.136810 >>136804 So why do people spend dollars? You can get a real return on a dollar by leaving it in the bank. That should cause deflation right?

Anonymous Tue Feb 25 13:11:01 2014 No.136817
File: 99 KB, 500x314, shutupandtakemymoney.jpg [View same] [iqdb] [saucenao] [google]

>>136763

>fishtoken

Will I get rich with these wondrous tokens?! Wait till Ferguson sees my new yacht. That'll shut him up.

How many can I get for $1,837.09? Wait, I may have more left in my wallet. brb.

Anonymous Tue Feb 25 13:14:30 2014 No.136830

>>136810
Leaving it in the bank a) is somewhat risky - the bank might lose it, and b) decreases its liquidity - you don't have immediate access. And even then, we're constantly printing money, at a rate to create inflation near to secure investment options.
Plus, the more people put their money into the bank instead of spending it, the less the interests they get, until they fall below inflation, so this isn't worth it.

With bitcoin, you don't need a bank. Just hold them. And the more people hoard and want to buy more, the higher the price gets - the contrary effect.

>>	Anonymous Tue Feb 25 13:14:59 2014 No.136831 >>136728 If there is no extradition treaty with the country, and say some militia kidnaps the guy and dumps him on US soil, would they be able to prosecute him? Basically this is what happens in The Dark Knight

>>	Anonymous Tue Feb 25 13:15:00 2014 No.136836 Turns out my dad had 10 bitcoins (which I advised him to buy) on mtgox... I literally feel so bad. I lost 8.49~ bitcoins on SR.

>>	Anonymous Tue Feb 25 13:16:00 2014 No.136841 >>136779 My mother wanted to buy a bitcoin as long-term investment around christmas when it was $1k each, I told them to not buy because it was an awful price and it was likely to crash sooner or later to a lower point.

Anonymous Tue Feb 25 13:16:00 2014 No.136846

>>136830
>a) is somewhat risky - the bank might lose it,

Every major country has deposit insurance. You could also make the above point for BTC

>b) decreases its liquidity - you don't have immediate access.

Oh please, this isn't an issue

>the more people put their money into the bank instead of spending it, the less the interests they get, until they fall below inflation, so this isn't worth it.

Only if every other individual in the economy does the same

>>	Anonymous Tue Feb 25 13:17:29 2014 No.136849 >>136806 >if you bought before _fill in date here_ (i.e. aren't a retard) It never ends with these people.

>>	Anonymous Tue Feb 25 13:18:30 2014 No.136860 good morning, /biz/ did i miss any new hilarity while i was sleeping?

Anonymous Tue Feb 25 13:21:00 2014 No.136889

>>136846
>Only if every other individual in the economy does the same
That's the point. In normal currency, so long as the majority is not hoarding but spending, you have inflation. The individual may get more, but on average, the amount of circulating money increases.

This is kept up by a) necessity - many people can't not spend, and b) decreasing interest, if more money gets pumped into the banks, until it stops being worth it or starts being gambling.

On top of that, the bank puts the money back into circulation (in fact about five times at once), increasing the money supply.

With bitcoin, the effect is the other way around. You don't get inflation by normal usage, you get deflation from lost coins, from seizings, from hoarders. Putting your bitcoins under your virtual mattress means they get more valuable, not less.

>>	Anonymous Tue Feb 25 13:24:30 2014 No.136904 >>136889 What do you think about demurrage?

>>	Anonymous Tue Feb 25 13:24:30 2014 No.136905 >>136728 Get some muslims to go fatwa on his fat arse

>>	Anonymous Tue Feb 25 13:25:31 2014 No.136911 How does one go about buying BTC via paypal?

>>	Anonymous Tue Feb 25 13:27:30 2014 No.136921 >>136904 In consider inflation the better system. While demurrage should be more stable, inflation gives you more options and most of all, it eases debt.

Anonymous Tue Feb 25 13:33:30 2014 No.136953

>>136911
Find someone foolish enough to sell it.

Bitcoin txns can't be reversed, while PayPal is quite easily reversed. They specifically disallow using it to trade currency, so they're very likely to rule in the buyer's favor, leaving the seller with nothing.

Try Coinbase in the US or Bitstamp in the EU.

>>	Anonymous Tue Feb 25 13:35:00 2014 No.136967 >>136651 toppest of keks

>>	Anonymous Tue Feb 25 13:38:29 2014 No.136978 >>136689 >7.22 refined = 1 key wow, this was something like 2.33 ref when i last played metal/key arbitrage when

>>	Anonymous Tue Feb 25 13:41:17 2014 No.136996 >>136978 Metal will become increasingly worthless over time because it doesn't get crafted out of existence often and drops constantly (in the form of weapons).

>>	Anonymous Tue Feb 25 13:46:15 2014 No.137026 File: 48 KB, 480x360, 1391805815048.jpg [View same] [iqdb] [saucenao] [google] >>133537 I know it's so easy to hate bitcoiners. I can't even feel sadness.

>>	Anonymous Tue Feb 25 13:56:45 2014 No.137084 >>136953 Is it possible to transfer BTC from one market to another?

>>	Anonymous Tue Feb 25 13:57:01 2014 No.137095 CaVirtEx.com is down lel

>>	Anonymous Tue Feb 25 13:59:32 2014 No.137106 File: 24 KB, 640x480, 1393354745588.jpg [View same] [iqdb] [saucenao] [google] >btc-e $10,000 sell orders vs. $10,000,000 in buy orders >price steadily rebounding >grampafag buttcoin debunkogangs grabbing chests

>>	Anonymous Tue Feb 25 13:59:32 2014 No.137107 File: 68 KB, 300x300, 1 out of 10.jpg [View same] [iqdb] [saucenao] [google] >>132664 You could put two $5 monopolybux in your pocket this morning around 8:00 and they'd still be there as well come 11:15.

>>	Anonymous Tue Feb 25 14:00:32 2014 No.137111 http://youtu.be/Z0GFRcFm-aY Have some soundtrack while we watch buttcoins burn.

>>	Anonymous Tue Feb 25 14:00:32 2014 No.137116 >>137084 once you buy coins you should transfer the majority of them to your wallet on your computer, only send small amounts to exchanges to trade.

>>	Anonymous Tue Feb 25 14:00:32 2014 No.137120 >>137084 Pull out of market into private wallet, put from private wallet into other market.

>>	Anonymous Tue Feb 25 14:01:31 2014 No.137121 so any confirmed redditer suicides yet?

>>	Anonymous Tue Feb 25 14:02:02 2014 No.137135 >>137111 >not http://www.youtube.com/watch?v=cpbbuaIA3Ds

>>	Anonymous Tue Feb 25 14:02:31 2014 No.137131 >>137106 >yfw the same thing happens to btc-e how long can they withstand the pressure?

>>	Anonymous Tue Feb 25 14:03:02 2014 No.137141 >>137135 I think mine is far more relevant. Decent tune though, not my favourite album.

>>	Anonymous Tue Feb 25 14:11:31 2014 No.137171 >>137111 >>137135 Both wrong. http://www.youtube.com/watch?v=bCLoNOYcVQU

>>	Anonymous Tue Feb 25 14:17:30 2014 No.137201 File: 350 KB, 1366x768, xMeW43a.jpg [View same] [iqdb] [saucenao] [google] MTGox in a nutshell

>>	Anonymous Tue Feb 25 14:18:01 2014 No.137216 >>137116 >>137120 Then is there anything to stop me from buying BTC on BitStamp for $510/BTC (at the moment) and then selling them on Coinbase for $535/BTC?

>>	Anonymous Tue Feb 25 14:19:00 2014 No.137221 >>137216 Transaction fees.

>>	Anonymous Tue Feb 25 14:20:00 2014 No.137229 >>137221 >Duh Well I was being retarded for a second.

>>	Anonymous Tue Feb 25 14:21:00 2014 No.137236 >>137171 It all returns to nothing, it all comes tumbling down, tumbling down, tumbling down It all returns to nothing, I just keep letting me down, letting me down, letting me down

>>	Anonymous Tue Feb 25 14:22:31 2014 No.137238 https://www.youtube.com/watch?v=5gFnCwVqbWs

>>	Anonymous Tue Feb 25 14:23:48 2014 No.137252 >>137201 Top kek there m8.

>>	Anonymous Tue Feb 25 14:24:49 2014 No.137258 R.I.P. Cryptocurrency Sorry but it was inflated for too long. Can't wait to read about all the neckbeards who try to launder cash from all their stolen bitcoin.

Anonymous Tue Feb 25 14:28:19 2014 No.137274

>>133995
>Threatening to sue support staff

This is what gets me about those into crypto currencies, especially Doge: They're all downright retarded.

There's no precedent to sue in this situation, nothing here is protected by US, or international law.

Reminds me of the early days of Dogecoin, when scryptpools.com went down and people were offering actual USD to anyone who could dox the owner.

What the fuck were they gonna do, kill him?

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 14:31:19 2014 No.137292 >>137274 >people literally lose millions of dollars worth of commodities >no precedent to sue whatsoever so if you suddenly lost all of your stocks for no reason that were worth millions, there'd be no precedent to sue either, right?

>>	Anonymous Tue Feb 25 14:32:19 2014 No.137296 I tried to make a withdrawal from bitstamp a few weeks ago and they didn't do it claiming the transaction wasn't broadcast to the network. When I login today I see loads of security messages like change password etc.. Are they next to go tits up?

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 14:32:19 2014 No.137298 >>137292 >support staff forgot to mention, these are obviously the wrong people to be sued, but the owners could definitely be in hot water

>>	Anonymous Tue Feb 25 14:33:49 2014 No.137302 >>137274 >What the fuck were they gonna do, kill him? Yes

>>	Anonymous Tue Feb 25 14:34:19 2014 No.137309 >>137292 Regulated trade vs muh unregulated digital monneh free from gubmint hand.

>>	Anonymous Tue Feb 25 14:34:19 2014 No.137310 File: 16 KB, 136x159, 1379548243638.jpg [View same] [iqdb] [saucenao] [google] >>132521 I spent my entire college loan on bitcoin and had them on Mt Gox. I'm so fucked. What should I do guys?

>>	Anonymous Tue Feb 25 14:35:19 2014 No.137326 >>137310 Suicide seems like a good option.

>>	Anonymous Tue Feb 25 14:35:49 2014 No.137325 >>137310 Stop lying on 4chan would be a good start. Unless you really are dumb enough to be posting memes on an imageboard when you should be out finding a lawyer.

>>	Anonymous Tue Feb 25 14:36:49 2014 No.137337 >>137310 >this is bait

>>	Anonymous Tue Feb 25 14:37:49 2014 No.137342 >>137310 get off /biz/, if you really did that you don't belong here really.

>>	Anonymous Tue Feb 25 14:41:09 2014 No.137365 >>132353 jej

>>	Anonymous Tue Feb 25 14:41:09 2014 No.137366 >>135012 top lel

Anonymous Tue Feb 25 14:41:40 2014 No.137362

>>137121
After hearing the news a few hours ago I immediately called my best friend, who I knew had about 900 btc stuck on gox. He knew they were probably insolvent and had been acting extremely distraught and detached, as if someone close to him had died. He didn't answer his cell phone which isn't like him so I called his wife to make sure he was ok. I could tell by her voice that she hadn't heard the latest news. She went out to their detached workshop to give him the phone and just started screaming. Primal screams that will haunt me forever. She tried to form words between her screams and tears but couldn't. She didn't have to say anything. I knew my friend was dead. She hung up and I jumped in my car and sped to their home. When I got there she was on the workshop floor with his body. He used a shotgun. She was trying to put his head back together. Blood and brain matter was everywhere. There was no hope of saving him. But she wouldn't give up. I grabbed her and hugged her. We stood there hugging and sobbing until a few minutes later when a fire truck and ambulance arrived, followed by police. I am devastated. I don't know what to do with myself. I feel like I should be doing something but I don't know what. I feel helpless. There's nothing I can do and it's killing me. I know the images in my head will haunt me forever. He was my best friend in the world.
To anyone out there reading this who also lost money due to gox PLEASE don't turn this disaster into a tragedy. You WILL get through this. You are stronger than this. I wish I had the perfect words to convince you that this too shall pass. I don't. Just be strong. I swear you will come out of this a stronger person. Please- hug your loved ones every day. I love you all.

>>	Anonymous Tue Feb 25 14:45:39 2014 No.137389 >>137362 murrikans and their money!

>>	Anonymous Tue Feb 25 14:46:39 2014 No.137391 >>137362 >I don't know what to do with myself. Buy bitcoins while it's cheap.

Anonymous Tue Feb 25 14:47:38 2014 No.137401

>>137121
Hello friends,
MtGox is gone. So let's prepare ourselves.
On Tuesday, and for the rest of the week, all hell will break lose in the media. It will be blamed on MtGox, it will be blamed on Bitcoin, it will be blamed on the "bug," and it will, more than anything, be blamed on the "lack of regulation." Pundits and "experts" of all types will weigh in on the calamity. It will be world news in a matter of hours.
Get ready, because it will be an ugly week.
For all of you who lost money, my heart goes out to you. Some people lost a little, some lost a fortune. It will make people sick, and depressed, and full of grief. Personally, I had over 550 BTC in Gox. I will never get any of that back. If misery loves company, then we'll be enjoying a grand feast today.
I should have known better, of course. I take responsibility for leaving those funds with an entity that had proven incompetence repeatedly. I chose to ignore even my own warnings, for nothing more than the sake of convenience.
Gox is still at fault, to be sure, but I have learned the lesson. I hope it is not such an expensive lesson for others. And for all you observers, please take a moment to consider it as well.
Be mindful, however, that the wrong lessons are not learned, for that would be the true tragedy, indeed.
Let me suggest that the lesson is not that Bitcoin is broken. Bitcoin is fine.
Similarly, the lesson is not that security is impossible. Those who know what they are doing, can achieve it and help others to do so.
The lesson is not that nobody can be trusted. There are countless good men and women in this community who are worthy of trust, and some of the very best people I've ever met.

>>	Anonymous Tue Feb 25 14:48:39 2014 No.137410 >>137391 i'm probably going to hell for laughing at this, but good job

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 14:49:39 2014 No.137414 >>137401 I'm still in awe some many of you kept so many btc on exchanges 24/7

>>	Anonymous Tue Feb 25 14:50:10 2014 No.137422 >>137401 >On Tuesday, and for the rest of the week, all hell will break lose in the media. I've been watching the news all day long, and not a single peep about this. Seriously, only NEET cares about this.

>>	Anonymous Tue Feb 25 14:51:09 2014 No.137427 >>137414 Bitcoin exchanges charge fee to just withdraw. Also, bitcoin has insanely long block time, and you pretty much have to pay ~50 cents in fees unless you want to wait three days for your transaction to show up on a blockchain.

>>	Anonymous Tue Feb 25 14:52:27 2014 No.137431 http://www.youtube.com/watch?v=SAtzCgGDqYE we associated press now >$300 million gone

Anonymous Tue Feb 25 14:54:11 2014 No.137445

>>137422
http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?hp&_r=0
http://www.reuters.com/article/2014/02/25/us-mtgox-website-idUSBREA1O07920140225
http://money.cnn.com/2014/02/25/technology/security/mtgox-bitcoin/index.html?hpt=hp_t2

>>	Anonymous Tue Feb 25 14:55:10 2014 No.137453 >>137274 >cryptocurrency is so cool! It's completely free from the evil statists, it's totally the future! >what the fuck, this is bullshit! I lost all my money! Save me government! it's hilarious

>>	Anonymous Tue Feb 25 14:55:41 2014 No.137450 >>137422 >no 1 on google trends >literally the no1 searched for thing on the entire internet today 'not a peep' ABB's get btfo

>>	Anonymous Tue Feb 25 14:56:41 2014 No.137458 >>137450 associated press just posted it on their youtube >>137431

>>	Anonymous Tue Feb 25 14:59:41 2014 No.137469 >Mt. Gox had $174 million in liabilities against $32.75 million in assets. What could possibly have gone wrong, right?

>>	Anonymous Tue Feb 25 15:01:11 2014 No.137478 >>137469 B-but Bitcoins could pay for all of that..!

>>	Anonymous Tue Feb 25 15:02:10 2014 No.137486 >>137469 Everything but then... oh hey we have $350 mils swimming in our backyard pond. Bahamas, here we comeeeee!!!!

>>	Anonymous Tue Feb 25 15:05:41 2014 No.137507 >>132385 This is funny because I just realized that every goon I follow on twitter talks so much shit on BTC like they have a grudge against it and I always wondered why.

Anonymous Tue Feb 25 15:09:10 2014 No.137529

hey mods

this board needs a how do I into economics sticky

all kinds of young people want to into economics because they see it as a big evil and want to change it

problem is they can't speak the language and come off looking like a hippy, all they see are the underlying patterns without being able to describe them to anyone who will care

though nothing is ever simply black and white, there could be some real shit come out of that

>>	Anonymous Tue Feb 25 15:09:40 2014 No.137525 >>137453 lmao

>>	Anonymous Tue Feb 25 15:09:40 2014 No.137527 The best part about bitcoins is that you get to watch libertarians slowly discover why financial regulations exist to begin with..

>>	Anonymous Tue Feb 25 15:11:10 2014 No.137535 >>134055 DON'T LET HIM LEAVE

>>	Anonymous Tue Feb 25 15:12:40 2014 No.137546 >>132353 What do we have here?... 1) poster IDs for the purposes of "no shilling" 2) a happening picture stickied 3) said picture is for a cryptocurrency thread This isn't /biz/, it's /pol2/ and should be renamed as such.

>>	Anonymous Tue Feb 25 15:13:11 2014 No.137547 >>137535 >tfw Mark won't get tortured to death on live web cam broadcast

>>	Anonymous Tue Feb 25 15:13:40 2014 No.137552 File: 363 KB, 960x900, 1393208554250.jpg [View same] [iqdb] [saucenao] [google] >CNBC just took a shot at Bitcoin and will have a report soon Welp, #shotsfired

>>	Anonymous Tue Feb 25 15:14:41 2014 No.137559 >>137546 >/pol2/ This board probably has the highest jews per posters ratio of the whole site.

Anonymous Tue Feb 25 15:16:41 2014 No.137571
File: 970 KB, 628x594, 1392395451872.png [View same] [iqdb] [saucenao] [google]

>>137422

This is hitting news across the planet.

Gox going down was just in news here in Finland.
Sure as hell didn't expect to see it in the evening news.
That's pretty god damn big considering that Bitcoin has been only briefly mentioned in them before.

The tone wasn't really that negative, but they did say that hundreds of millions were lost probably stolen, and that
"Bitcoin is in a critical point at the moment, it's either going to survive and go mainstream or crash to absolutely nothing."

They also said that there have been talks and plans about regulating Bitcoin.
This smug beardguy that they interviewed responded: "Yeah, well it's absolutely impossible to regulate this currency, and all attempts to do so will 100% fail"

Can't say that it promoted any confidence in me.

>>	Anonymous Tue Feb 25 15:18:11 2014 No.137592 Do you think now would be a good time to buy bitcoins :^)?

>>	Anonymous Tue Feb 25 15:18:11 2014 No.137595 >>137584 Can't unsee

>>	Anonymous Tue Feb 25 15:18:41 2014 No.137584 >>137571 Is it just me or does that bird look like Lenin?

>>	Anonymous Tue Feb 25 15:18:41 2014 No.137585 Does this also effect all other crypto currencies? Dogecoin? Litecoin? Buttcoins? etc? I'm new to all of this.

>>	Anonymous Tue Feb 25 15:19:12 2014 No.137602 >>137592 Well it is at the losest it has been since November, SO I would say yes.

>>	Anonymous Tue Feb 25 15:19:12 2014 No.137603 >>137585 BTC affects literally everything even remotely connected to it, basic altcoins depend on it a lot so yes, absolutely, sometimes even more so than BTC itself.

>>	Anonymous Tue Feb 25 15:19:41 2014 No.137597 >>137585 It's all the same shit. If anything altcoins are less credible than bitcoins, certainly less known too.

Anonymous Tue Feb 25 15:20:10 2014 No.137605

>>137585

Well, confidence will be shaken, and it'll be harder to draw an increased investor base.

And all the hipster fucktards who believed in btc with no education will probably pull out and not move on to the next coin craze.

Wonder how many actual businesses who accepted BTC will continue to do so.

>>	Anonymous Tue Feb 25 15:20:41 2014 No.137610 This is absolutely horrible for people who put their life savings and children's college funds into Bitcoin! I predict a high suicide rate amongst college students for today, the rest of the week, and all of next week!

>>	Anonymous Tue Feb 25 15:22:10 2014 No.137626 File: 49 KB, 634x417, 1393359775121.jpg [View same] [iqdb] [saucenao] [google] >>137610 YOU HEARD HIM! INVEST IN COFFIN COMPANIES THAT MAKE AUTISTIC COFFINS! BUY BUY BUY!

>>	Anonymous Tue Feb 25 15:22:41 2014 No.137622 >>137610 >Cloudy with a chance of suicide.

>>	Anonymous Tue Feb 25 15:24:10 2014 No.137642 >>137626 >that fucking coffin TOPPEST OF LELS is that real?

>>	Anonymous Tue Feb 25 15:24:41 2014 No.137638 A fool and his money, be soon at debate: after which with sorrow, repents him too late.

>>	Anonymous Tue Feb 25 15:24:41 2014 No.137639 >>134964 >unsavory characters. >you tell us when and how (i.e. slow and painful or quick) All I can say right now, is, Mark Karpelles will wish he was dead before they're finished working him over.

>>	Anonymous Tue Feb 25 15:25:11 2014 No.137648 >>137626 You think these people can afford coffins anymore?

>>	Anonymous Tue Feb 25 15:26:11 2014 No.137650 >>137527 read some of the comments around here; they've discovered no such thing

>>	Anonymous Tue Feb 25 15:26:11 2014 No.137651 >>137626 GOTTA GO FAST ... or not

>>	Anonymous Tue Feb 25 15:27:40 2014 No.137658 >>132370 You have dollar don't you? It funny how fiatfags accuse BTC of being pulled from thin air, yet we have banks that literally just print more money out when they need it.

>>	Anonymous Tue Feb 25 15:28:11 2014 No.137668 >This faggot on CNBC Holy fuck, he's making BTC look retarded.

>>	Anonymous Tue Feb 25 15:30:41 2014 No.137678 File: 49 KB, 634x417, gotta go fast.jpg [View same] [iqdb] [saucenao] [google] >>137651 Here you go.

>>	Anonymous Tue Feb 25 15:30:41 2014 No.137680 >>137668 You don't really need to actively make it look retarded >>137658 >that ID nice

>>	Anonymous Tue Feb 25 15:35:40 2014 No.137708 >>137658 >MtJew ID confirmed lel

>>	Anonymous Tue Feb 25 15:36:10 2014 No.137716 File: 120 KB, 319x400, point2.png [View same] [iqdb] [saucenao] [google] >>137658 >mtjIjJEW

>>	Anonymous Tue Feb 25 15:37:11 2014 No.137721 >>137626 Too expensive for dem broke autists.

>>	Anonymous Tue Feb 25 15:38:41 2014 No.137728 File: 40 KB, 575x370, suggs.jpg [View same] [iqdb] [saucenao] [google] >>137658 >mt jew

>>	Anonymous Tue Feb 25 15:42:11 2014 No.137761 Has anyone here actually lost all their money? Should I invest in Bitcoin now? I have 10 grand to play with.

>>	Anonymous Tue Feb 25 15:44:41 2014 No.137770 >>137761 no, no one loses money on bitcoin just make sure to use a trustworthy exchange. you can tell which ones are trustworthy because they say they're trustworthy

>>	Anonymous Tue Feb 25 15:45:41 2014 No.137774 >>137761 Nobody uses gox here

>>	Anonymous Tue Feb 25 15:46:10 2014 No.137783 >>137774 Any info on who the biggest loser today is? Like did someone out there lose 50 million or something?

>>	Anonymous Tue Feb 25 15:46:11 2014 No.137788 >>137783 a lot of redditors lost everything, scroll up

>>	Anonymous Tue Feb 25 15:47:41 2014 No.137794 >>137761 i'd just buy mining hardware. that way if one coin turns to shit, just mine another. 10 grand will buy a pretty awesome rig. and yes i lost all my fucking money.

>>	Anonymous Tue Feb 25 15:47:41 2014 No.137799 >>137761 I'd wait until we are in the clear and have reached a certain bottom....buying with 90% certainty at 600 is better than 20% certainty at 450 IMO considering the upside potential.

>>	Anonymous Tue Feb 25 15:47:41 2014 No.137801 What now, Libertardians?

>>	Anonymous Tue Feb 25 15:48:11 2014 No.137805 File: 9 KB, 279x78, 1388246093941.jpg [View same] [iqdb] [saucenao] [google] >>137770 >you can tell which ones are trustworthy because they say they're trustworthy

Anonymous Tue Feb 25 15:48:41 2014 No.137808

>>137761
>Has anyone here actually lost all their money?
Here, no, you have to be an enormous moron to lose literally everything, you had to be rather dumb to be using Gox in the past few months anyway. Some money, definitely.
You can always just not keep all of your money in one single exchange.

>>	Anonymous Tue Feb 25 15:49:41 2014 No.137818 >>137794 >'d just buy mining hardware. that way if one coin turns to shit, just mine another Everyone knows that it was the people selling blue jeans and shovels that made the most money during the California Gold Rush.

Anonymous Tue Feb 25 15:51:41 2014 No.137846

>>137801

Use some other cyptocurrency, some may stick with bitcoin, hope people and business learnt their lesson. Notice that at no point were we forced to fork over a load of bitcoins to bail Mt.Gox out. Unlike some other institutions. This is the meaning of personal responsibility. Anyway, someone else will just fill the void.

Anonymous Tue Feb 25 15:53:10 2014 No.137862

>>137818
At least it's money i'd actually have right now, if i'd mined and not trusted any exchange. I'd also have a load of hardware to show for it, which would pay for itself.
we need a decentralized EXCHANGE before i'm spending another penny on this shit. when i do spend money, it'll be spent at butterfly labs or alpha technologies. mined, stored and forever kept on my terms, on my pc, in my cold wallets.

>>	Anonymous Tue Feb 25 15:54:11 2014 No.137874 >>137846 >A trading index can go out of business and take all the money with them This is a problem and I don't know why you can't see this.

>>	Anonymous Tue Feb 25 15:55:11 2014 No.137877 There are way too many replies...what is going on ITT?

>>	Anonymous Tue Feb 25 15:55:11 2014 No.137886 >>137877 We gloat.

>>	Anonymous Tue Feb 25 15:55:41 2014 No.137881 >>137761 What's with people expecting to be spoonfed? This is why the market is full with idiots. Because they didn't do their research themselves.

>>	Anonymous Tue Feb 25 15:56:11 2014 No.137887 I don't get this wholesome schtick about having your BTC on an exchange instead of your wallet, anyone care to explain?

>>	Anonymous Tue Feb 25 15:56:41 2014 No.137890 >>132441 Why do you think the board was created on the first place? It's only been a few days and we already have newshits

>>	Anonymous Tue Feb 25 15:56:41 2014 No.137893 >>137818 i knew about the shovels, but not blue jeans. huh

Anonymous Tue Feb 25 15:57:11 2014 No.137910
File: 229 KB, 1280x857, GERMANQT.jpg [View same] [iqdb] [saucenao] [google]

I'm an American that wants to do some smallish (<$250 USD start) trading in bitcoin. What market would be the most profitable? From what I see Coinbase is cheapest, but the value of BTC has been about constant for a while there. Meanwhile it is varying wildly on Bitstamp, but depositing money there is a hassle. Is it worth the time and fees to drop a couple hundred in Bitstamp and trade with that?

>>	Anonymous Tue Feb 25 15:57:41 2014 No.137902 >>137874 >a bank can go out of business and force you to pay for your mistakes. and take your money with them, but just in different ways Anyway, it their fault for using Mt.Goy. Everyone knew it was on the verge of collapse for donkeys years.

>>	Anonymous Tue Feb 25 15:58:11 2014 No.137919 File: 414 KB, 754x591, 1393268966194.png [View same] [iqdb] [saucenao] [google] This are a lot of investors that will never put their money into cryptos now.

Anonymous Tue Feb 25 15:58:40 2014 No.137914

>>137887
It's not about security, and it's not about utility. Anybody throwing service or security out as reasons are baldfaced liars or idiots. It was about fast transaction times on a large centralized market with wildly fluctuating prices. It's about making a fast buck.

>>	Anonymous Tue Feb 25 15:59:41 2014 No.137930 >moyes

Anonymous Tue Feb 25 16:02:41 2014 No.137954

is there really no bitcoinbillionaire-esque person who'd buy mtgox?

i do understand that the site holds your native currency too, so refunding untold millions in actual currency, to do that, the person would have to sell a LOT of btc, which would fuck the price hard.

anyone else wonder whether mtgox was told to gtfo because it's intention was to halt withdrawals and lower the price just enough, that they could take those cheap coins, then sell and raise enough to cover the cash owed to mtgox's users, just to be told to GTFO by the other major btc CEO's, because it'd crash the price?

no fucking way is mtgox short of btc for it's users, no matter how hard the malleability hit them. maybe reimbursing cash is the problem.

>>	Anonymous Tue Feb 25 16:02:41 2014 No.137957 >>137886 We goat now

Anonymous Tue Feb 25 16:02:41 2014 No.137961

>>137919
I think it's more likely the market will become incredibly resistant to centralized depositories with Gox ever again, but not necessarily that any educated investor will outright avoid crypto, though that is bound to happen as well. I wouldn't be surprised if people over the next months or years eventually avoid these exchanges for anything other than absolutely necessary transactions. It's hurt the reputation of the coin with respect to making money on exchange rates, but as a concept and function, crypto is still perfectly valid. Crypto becomes unstable and dangerous when you try to centralize it, but it's fairly safe when left decentralized, with everyone keeping their coins "under the mattress", as it was.

Anonymous Tue Feb 25 16:05:11 2014 No.137980

>After hearing the news a few hours ago I immediately called my best friend, who I knew had about 900 btc stuck on gox. He knew they were probably insolvent and had been acting extremely distraught and detached, as if someone close to him had died. He didn't answer his cell phone which isn't like him so I called his wife to make sure he was ok. I could tell by her voice that she hadn't heard the latest news. She went out to their detached workshop to give him the phone and just started screaming. Primal screams that will haunt me forever. She tried to form words between her screams and tears but couldn't. She didn't have to say anything. I knew my friend was dead. She hung up and I jumped in my car and sped to their home. When I got there she was on the workshop floor with his body. He used a shotgun. She was trying to put his head back together. Blood and brain matter was everywhere. There was no hope of saving him. But she wouldn't give up. I grabbed her and hugged her. We stood there hugging and sobbing until a few minutes later when a fire truck and ambulance arrived, followed by police. I am devastated. I don't know what to do with myself. I feel like I should be doing something but I don't know what. I feel helpless. There's nothing I can do and it's killing me. I know the images in my head will haunt me forever. He was my best friend in the world. To anyone out there reading this who also lost money due to gox PLEASE don't turn this disaster into a tragedy. You WILL get through this. You are stronger than this. I wish I had the perfect words to convince you that this too shall pass. I don't. Just be strong. I swear you will come out of this a stronger person. Please- hug your loved ones every day. I love you all.

>>	Anonymous Tue Feb 25 16:05:11 2014 No.137981 just awaiting the panic buy now. sitting on 5BTC at the moment

>>	Every board is a containment board Anonymous Tue Feb 25 16:05:41 2014 No.137979 >>132441 This board exists to force cryptocashfags out of /g/. I'm OK with it.

>>	Anonymous Tue Feb 25 16:07:10 2014 No.137999 >>137979 i heard there was a problem on /pol/ as well. not sure if it was cryptocurrency threads or get rich quick schemes or what, but this board exists partly because people were lowering the tone of /pol/ think about that for a minute

Anonymous Tue Feb 25 16:07:42 2014 No.137991

>>137961

>that horrible, horrible bout of denial

Face it.

Cryptos might be "valid" and "stable", but it's used by people who are retarded and unstable, and don't understand the idea of Currency vs. Investment, and why turning a currency into an investment ruins its ability to ever be used as a currency again.

You're right though, the problem isn't BTC or any coin. But it isn't centralization or decentralization either. It's the lack of regulation to keep you fuckers from being completely retarded with your money.

>>	Anonymous Tue Feb 25 16:07:42 2014 No.137993 >>137979 >uUzCuGoy

>>	Anonymous Tue Feb 25 16:07:42 2014 No.137996 >>137980 If this is pasta you're a faggot. Suicide isn't funny.

>>	Anonymous Tue Feb 25 16:09:11 2014 No.138009 okay hold on, serious technical question here the bitcoin protocol tells you who has how many coins at all times, if that's the case why didnt anyone notice that mtgox didn't have as many coins as they claimed

>>	Anonymous Tue Feb 25 16:09:11 2014 No.138019 >>138009 it wasn't all pooled together in one wallet, each person who stored their coins on mt gox had a personal virtual wallet on their servers.

>>	Anonymous Tue Feb 25 16:09:41 2014 No.138013 File: 218 KB, 972x1296, Anwinner.jpg [View same] [iqdb] [saucenao] [google] >>137996 >suicide isn't funny you're new here, aren't you?

>>	Anonymous Tue Feb 25 16:09:41 2014 No.138015 >>137980 >I don't know what to do with myself. Buy bitcoins while it's cheap.

>>	Anonymous Tue Feb 25 16:10:19 2014 No.138027 >Want to put some dosh into bitcoins >Too fucking high for my low crust blood. Not touching that shit man. I'd love it if that shit fell down to like 100$ a coin or some crazy shit.

>>	Anonymous Tue Feb 25 16:10:50 2014 No.138025 >>138013 When someone close to you blows their brains out, with blood and brains everywhere, you'll realize how much of a little turd you were for making fun of it.

Anonymous Tue Feb 25 16:11:19 2014 No.138028

>>137996
this is like the 4th time it's been posted itt. of fucking course people are killing themselves over this shit.
...although that particular post does sound like bullshit, i've pretty much split with my girlfriend today over this. i've also bought a fucktonne of drugs and booze.
there are a million angry people out there right now. people will die because of this. i hope karpeles chokes on his caviar.

>>	Anonymous Tue Feb 25 16:12:18 2014 No.138036 >>137401 >There are countless good men and women in this community who are worthy of trust, and some of the very best people I've ever met. What a lot of hot air. Why do redditors always come across as such phonies?

>>	Anonymous Tue Feb 25 16:13:18 2014 No.138043 >>138013 holy shit, i haven't seen that in forever classic

>>	Anonymous Tue Feb 25 16:13:19 2014 No.138049 https://www.youtube.com/watch?v=vcf7DnHi54g le karpeles anthem

>>	Anonymous Tue Feb 25 16:13:19 2014 No.138050 >>138043 >2006 Wow has it been that long?

>>	Anonymous Tue Feb 25 16:14:49 2014 No.138053 >>138050 yep we've wasted our goddamn lives here

>>	Anonymous Tue Feb 25 16:15:49 2014 No.138060 >>138043 >>138050 Not many people around who actually remember the details. I miss those days, before summer 2006

Anonymous Tue Feb 25 16:16:19 2014 No.138075

>>132353
Pretty happy about this. It's for the best in the long run and I think we'll even start to see things move up after they inevitably go down when news hits that MtGox and "Bitcoin" was all a scam throughout the week in mainstream media. MtGox=Bitcoin to many, I think.

>>	Anonymous Tue Feb 25 16:17:19 2014 No.138077 YES YES YES YES YES

>>	Anonymous Tue Feb 25 16:19:18 2014 No.138093 >>138075 Oh, and sorry to the dudes who lost tons of money on MtGox. You knew you were playing with fire.

Anonymous Tue Feb 25 16:21:48 2014 No.138105
File: 21 KB, 494x422, 1393305023734.jpg [View same] [iqdb] [saucenao] [google]

>tfw sold all my BTC on the first bitcoin crash
>tfw I said fucked this shit
>tfw checked the price a couple of weeks ago
>holy shit I should buy BTC
>tfw I remembered that crash
>fuck that gonna wait and see
>this happens

Its great to be patient. After all its said and done I'm gonna buy a bulk of BTC.

>>	Anonymous Tue Feb 25 16:22:49 2014 No.138112 where's your free market now fagboys?

>>	Anonymous Tue Feb 25 16:23:49 2014 No.138124 >>137961 >investor No one sane ever invest in bitcoins. Trade, yeah, but not invest. What you have are a bunch of neet gamblers in bitcoin scenes.

>>	Anonymous Tue Feb 25 16:26:48 2014 No.138148 >>138112 Nigga this is as free market as it gets, wild west in here and goyim are get blown the fuck out.

Anonymous Tue Feb 25 16:27:49 2014 No.138155
File: 207 KB, 590x421, 1393363637390.jpg [View same] [iqdb] [saucenao] [google]

>>138015

>500$
>Cheap

You know the drill..

These prices are high as fuck considering the current situation.

Media is just warming up the assrapeage of BTC, they are probably just waiting for some official information about the situation.
Also we haven't heard a word from Gox, if those coins are really gone, these markets are fucked in every possible way.
These news are so god damn bad, I don't know if people even realize how bad they are.
This is about to completely kill whatever credibility Bitcoin had in the eyes of the general public.
Try getting merchants or the average Joe to accept this concept after crap like this goes down.

>"oh btw we lost 6% of the coins available on this planet, we don't know where the hell they went, and if even a fraction of those get sold, we are going to drop to 15$ Do you want to buy some? Only 500$ a pop now."

BTW what the hell is going to happen with miners?
They can't possibly make any money if the price stabilizes to some low level, I don't think they are making that much money even at these prices.
So only option for them is to stop mining right?
That or they have to sell at a loss to pay the bills if they want to continue mining.
>>138050

That's almost 10 years ago... I feel old as hell.

>>	Anonymous Tue Feb 25 16:30:49 2014 No.138192 File: 93 KB, 483x722, goxed.jpg [View same] [iqdb] [saucenao] [google] simple explanation to all of this

Anonymous Tue Feb 25 16:30:49 2014 No.138193

I'm an American that wants to do some smallish (<$250 USD start) trading in bitcoin. What market would be the most profitable? From what I see Coinbase is cheapest, but the value of BTC has been about constant for a while there. Meanwhile it is varying wildly on Bitstamp, but depositing money there is a hassle. Is it worth the time and fees to drop a couple hundred in Bitstamp and trade with that?

>>	Anonymous Tue Feb 25 16:33:51 2014 No.138212 >>132603 Turns out.... BTC is at $531 right now... so I ended up losing money since yesterday :(

>>	Anonymous Tue Feb 25 16:36:20 2014 No.138232 File: 14 KB, 400x300, 1393364167649.jpg [View same] [iqdb] [saucenao] [google] /BIZ/NESSMEN We are losing sight of the important question: How do we profit from this?

>>	Anonymous Tue Feb 25 16:37:20 2014 No.138237 >>138232 we just have to figure out a way to exchange schadenfreude for goods and services

>>	Anonymous Tue Feb 25 16:37:20 2014 No.138243 >>138237 Like I said, autism coffins are the future, man. >>137626

>>	Anonymous Tue Feb 25 16:38:21 2014 No.138253 File: 7 KB, 1034x103, 1393364331065.png [View same] [iqdb] [saucenao] [google] >>137658 >>137658 >>137658 >>137658 >>137658

>>	Anonymous Tue Feb 25 16:38:21 2014 No.138254 >>138243 are you sure they didn't just bury that kid in his toy chest? "well, we're not going to need it anymore..."

>>	Anonymous Tue Feb 25 16:38:51 2014 No.138247 >>138232 Wait for the floor then pump n dump?

>>	Anonymous Tue Feb 25 16:38:51 2014 No.138251 File: 17 KB, 350x416, Mitchellhenderson.jpg [View same] [iqdb] [saucenao] [google] >>138025 <3

>>	Anonymous Tue Feb 25 16:39:21 2014 No.138256 >>138251 Top kek

>>	Anonymous Tue Feb 25 16:39:51 2014 No.138258 >>138232 You could make the insolvency gamble and buy people's account credentials. They get their money and you get an account that has an extremely low chance of being repaid its Bitcoin. High risk high reward?

>>	Anonymous Tue Feb 25 16:44:52 2014 No.138289 My co-worker killed himself during the last crash because of huge loss, I know he was trading on MtGox... I felt very bad for long time, now since the whole Gox has crashed... pff I don't know.

Anonymous Tue Feb 25 16:46:51 2014 No.138310
File: 12 KB, 501x585, 1364362008748.gif [View same] [iqdb] [saucenao] [google]

>Regulators are taking notice, too. Homeland Security and Governmental Affairs Committee Chairman Tom Carper has issued a statement on the matter, claiming that US policymakers and regulators can and should learn from the Mt. Gox incident to protect consumers:

>“For months, our Committee has been calling on law enforcement, industry, and relevant regulators to come to the table and engage in meaningful dialogue to provide clear rules of the roads for entrepreneurs, investors, and consumers. Without these rules, businesses can’t be successful and consumers can’t be protected. If today’s news is true, it is a sad violation of consumer trust, whether through malicious action or simple incompetence. Regardless, it’s unacceptable.”

>Implying this isn't a ploy to get the Bitcoin to be regulated by the government
>Implying the NSA isn't holding all 700,000 "stolen" Bitcoins

>>	Anonymous Tue Feb 25 16:48:21 2014 No.138325 >>138310 Canadian government is looking to pass a bill regulating all crypto currencies as well.

>>	Anonymous Tue Feb 25 16:48:21 2014 No.138332 should i ban bitcoins once if the price continues to fall?

>>	Anonymous Tue Feb 25 16:48:51 2014 No.138326 I'm downloading the Doge client as we speak. I'm excited guys

>>	Anonymous Tue Feb 25 16:48:51 2014 No.138328 >>138232 if other people lose money, you become proportionately richer

>>	Anonymous Tue Feb 25 16:48:51 2014 No.138329 >>138310 >Implying it doesn't need regulation This isn't /pol/ faggot. I actually want cryptos to work. Hope they regulate the shit out of this.

>>	Anonymous Tue Feb 25 16:50:21 2014 No.138341 File: 66 KB, 533x800, 1343281998480.jpg [View same] [iqdb] [saucenao] [google] >>138329 Yes, good goy, submit to your masters, your revolutionary global currency will be ours to control.

>>	wolong Tue Feb 25 16:51:21 2014 No.138344 File: 1.01 MB, 1012x673, PNDOGE.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 25 16:51:21 2014 No.138346 >>138289 tell the story

Anonymous Tue Feb 25 16:51:50 2014 No.138352

>>138289
Seriously? Why didn't he just fucking wait a while? We don't know if it's ever going to hit that high again, but we do know it's not impossible for it to do so within a year. It goes up or down 50-100% in as little as a week or two, sometimes much quicker. It's very shortsighted to sudoku over this. And even still, people should never put in what they wouldn't be able to handle losing. Don't get me wrong, no one likes losing money, but it shouldn't turn into a life and death situation.

Sorry for your loss, though. It just disappoints me that people can't handle their own money responsibly because it means the whole world will continue to get regulated for it. And it also means things like that will happen.

>>	Anonymous Tue Feb 25 16:51:50 2014 No.138353 >>138341 >revolutionary lel

>>	Anonymous Tue Feb 25 16:52:51 2014 No.138356 >>138329 They have actual currencies for people like you.

Anonymous Tue Feb 25 16:54:21 2014 No.138374

>>138353
You need to research the innovation that the invention of the blockchain provides.

A public global ledger that is secured by the individuals who use it eliminates the need for trust in the exchange of the currency.

It's such a great invention it's why the banks have tried (and failed) over a hundred times to patent it.

>>	Anonymous Tue Feb 25 16:56:50 2014 No.138388 >>138344 What the fuck do they do with the dead pandas?

>>	Anonymous Tue Feb 25 16:56:50 2014 No.138391 >>138374 Doesn't change the fact the people who are using it are dumbfuck retarded I'd be much happier if every bitcoin faggot went bankrupt and someone with market clout finally did patent it.

>>	Anonymous Tue Feb 25 16:56:50 2014 No.138393 >>138344 Who would actually kill a panda? Come on now.

>>	Anonymous Tue Feb 25 16:56:50 2014 No.138394 >>138289 an hero'd for shitcoin

>>	Anonymous Tue Feb 25 16:57:21 2014 No.138399 >>138391 >Doesn't change the fact the people who are using it are dumbfuck retarded [logic needed] I don't see how using Bitcoin to send people money anywhere in the world instantly, securely, and with no transaction fees is "dumbfuck retarded."

>>	Anonymous Tue Feb 25 16:59:51 2014 No.138408 File: 15 KB, 160x160, wut.png [View same] [iqdb] [saucenao] [google] >>138399 >instantly >securely >with no transaction fees

>>	Anonymous Tue Feb 25 16:59:51 2014 No.138410 >>138393 they sell them to master wolong for shekels

>>	Anonymous Tue Feb 25 17:00:20 2014 No.138423 >>138410 >I just realized the panda is a reference to the coin I wouldn't have even made the connection had you not said that.

Anonymous Tue Feb 25 17:00:21 2014 No.138413

>>138399

People treat it like an investment.

Yes forex exists, but currencies are first and foremost currencies.

When you turn a currency in an investment, it is impossible for that currency to be taken seriously as a currency ever again.

Every coin that has come since are being treated the same way, because it's the same dumbfucks doing it.

It'll never be a currency until they leave.

>>	Anonymous Tue Feb 25 17:00:51 2014 No.138414 > Trusting on a site that the name originally meant "Magic: The Gathering Online eXchange" top kek

>>	Anonymous Tue Feb 25 17:00:51 2014 No.138418 >>137658 The mtJEW ID confirms everything in this thread

>>	Anonymous Tue Feb 25 17:00:51 2014 No.138422 >>138393 It's not real. Pandas are bigger than that and have actual flesh, they don't just look like empty bags. Also, in china everyone involved in that operation would be executed as soon as the cat gets out of the bag. Not worth the risk.

Anonymous Tue Feb 25 17:01:21 2014 No.138429

>>138408
The transaction is instant, one confirmation takes 10 minutes.

It's secure as fuck. No one can hijack the coins between sending from Wallet A to Wallet B. Not unless they have hundreds of millions of dollars worth of mining equipment to 51% attack the network, but if you have that kind of money and hardware you don't give two shits about messing with billy and joe's 0.5 BTC transaction.

The Bitcoin fee is like 0.00001 versus fees on PayPal and other services of several percent. Like comparing a grain of sand to a mountain.

>>	Anonymous Tue Feb 25 17:01:21 2014 No.138432 https://www.youtube.com/watch?v=1mWkY5yIAnc

>>	Anonymous Tue Feb 25 17:03:21 2014 No.138440 >>138429 cool, thanks for confirming that everything you said was a lie

>>	Anonymous Tue Feb 25 17:05:20 2014 No.138452 >>138440 Are you retarded? The transaction is instant. Confirmations are not transactions. Sending BTC to another wallet is SECURE AS FUCK. The fee is half a cent versus multiple dollars. Go be a retard somewhere else.

>>	Anonymous Tue Feb 25 17:05:50 2014 No.138458 >>138193 Wait until the dust settles.

>>	Anonymous Tue Feb 25 17:05:50 2014 No.138462 so, when should i buy bitcoins? in two weeks perhaps when it's reached the "despair" level?

>>	Anonymous Tue Feb 25 17:06:51 2014 No.138465 File: 76 KB, 1039x672, 1391986356151.jpg [View same] [iqdb] [saucenao] [google] >mfw all the dickheads trying to get people to buy buttcoins 5 days ago >mfw people bought it >mfw right now

>>	Anonymous Tue Feb 25 17:07:51 2014 No.138472 >>138432 >Damage Control - The Stream.

Anonymous Tue Feb 25 17:09:21 2014 No.138481
File: 1002 B, 209x137, hurfdurfdurr.png [View same] [iqdb] [saucenao] [google]

>>138452
so: you can trust that the transaction occurred without a confirmation, there's no way to fuck with a transaction (as we can see from m:tgox), and a fee is the same as no fee

yeah, there's a retard here all right

>>	Anonymous Tue Feb 25 17:10:51 2014 No.138491 >>138413 The people who treat them like investments are really the only thing that gives cryptos value. The volume of crypto that is used as payment is probably less then a tenth of what's hoarded and traded.

Anonymous Tue Feb 25 17:11:11 2014 No.138502

>>138481
You clearly don't know what is happening with MtGox.

MtGox was not waiting for confirmations on the network like they were supposed to. They were relying on their own stupid fucking transaction IDs that people fuck with. Every withdraw still went through on the network, but then the person scamming the system told MtGox they never got the BTC and they were refunded. Bitcoin isn't unsecure, MtGox was.

Half a cent "fee" is no fee unless you literally don't have a single cent to your name.

Anonymous Tue Feb 25 17:12:41 2014 No.138504

>>138452
i really should know this already, but i'm drunk so idgaf if i sound stupid.
are official bitcoin-qt wallets, hosted securely on your own pc, vulnerable to the 'malleability issue'? a lot of people say it's mtgox's wallet s/w problem which caused the malleability, but the same shiz supposedly happened to sr2, too.

has any individual wallet-qt user, void of any exchange, sent coins to another individual wallet-qt user, and had that transaction process twice as a result of the hack?

>>	Anonymous Tue Feb 25 17:12:41 2014 No.138507 >>138413 You're right, but therein lies the problem. Bitcoin has absolutely nothing backing it, so without those investors it has no value and can't function as a currency anyway. Damned if it does and damned if it doesn't.

>>	Anonymous Tue Feb 25 17:13:41 2014 No.138515 >>138232 >caretaker >suicide hotline operator Etc

>>	Anonymous Tue Feb 25 17:14:12 2014 No.138522 >>138504 oh and also... if it did only affect mtgox, then why did the fuckhuge, now functional, solid as shit site bitbargain, also recently stop withdrawals?

>>	Anonymous Tue Feb 25 17:14:12 2014 No.138534 >>138504 >are official bitcoin-qt wallets, hosted securely on your own pc, vulnerable to the 'malleability issue'? Nope. SR2 got hacked, plain and simple. They were infiltrated and cleaned out.

>>	Anonymous Tue Feb 25 17:16:12 2014 No.138558 >>138534 Or they cleaned themselves out.

Anonymous Tue Feb 25 17:16:43 2014 No.138550

>>138522
Other exchanged that have/did temporarily stop withdraws did so because they were ensuring that their own system could not be messed with like MtGox.

MtGox has always been a horridly programmed shithole. It used to be a trading card exchange, and when it first launched it was so bad that a user's password was displayed in plain text in the fucking site URL when logged in. People should have avoided it like the plague.

>>	Anonymous Tue Feb 25 17:18:12 2014 No.138586 >>138502 yeah why don't you repeat yourself a few more times, that'll convince me bitcoin evangelists, ladies and gentlemen

Anonymous Tue Feb 25 17:18:41 2014 No.138583

>>138550
>ensuring that their own system could not be messed with like MtGox.
but if it's only a mtgox wallet problem, how does that affect sites with wallets which work harmoniously with the supposedly impenetrable, decentralised bitcoin network? did they just stop withdrawals as a precaution because they didn't know which software was compromised...?

>>	Anonymous Tue Feb 25 17:19:42 2014 No.138591 >>138558 That too.

>>	Anonymous Tue Feb 25 17:20:12 2014 No.138605 >>138583 They were probably just throwing the brakes on so that they can make sure that their own coders aren't completely retarded as well.

>>	Anonymous Tue Feb 25 17:21:12 2014 No.138610 >>138586 >I'm going to ignore the facts because I am ignorant of the technology behind it If you want to keep paying 4% to Paypal or Bank transfers be my guest.

>>	Anonymous Tue Feb 25 17:24:12 2014 No.138638 >>138610 I don't pay anything for paypal or bank transfers, what are you on about?

Anonymous Tue Feb 25 17:25:42 2014 No.138644

I can't wait for bitcoin to be demolished so something totally new that's not crypto could come along. I'm fucking tired of hearing about Bitcoin. P.S. Law makers are soon going to profit from them whenever they control the market with their heavy taxation.

>>	Anonymous Tue Feb 25 17:25:42 2014 No.138645 Is this real? https://www.facebook.com/goxbitcoin

>>	Santa Panda !bWHYWnZ5pw Tue Feb 25 17:26:11 2014 No.138652 File: 13 KB, 1573x139, 1393367207151.png [View same] [iqdb] [saucenao] [google] >>138253 idk why but i feel like it looks better with flamboyant pink

>>	Anonymous Tue Feb 25 17:27:11 2014 No.138662 >>138652 It's because you're gay

Anonymous Tue Feb 25 17:28:12 2014 No.138667

>>138645
No one knows.

I don't think you should go to goxdotcom because at best, it's Mt. Gox. At worst, it's going to try to exploit the security of your computer and steal your coins/bank info. Wait a bit for some others to go there first.

>>138652
Go ahead. That one looks better tbh.

>>	Anonymous Tue Feb 25 17:28:41 2014 No.138664 Also, Bitcoins are traded by neckbeards who used to buy low and sell high at the AH in WoW and EvE Online. Start trading with the big boys and diversify motherfuckers.

>>	Anonymous Tue Feb 25 17:33:12 2014 No.138706 >>134805 >he's going to turn up dead within the week

>>	Anonymous Tue Feb 25 17:34:42 2014 No.138711 You should care that Mt.Gox went down if you're investing in BTC you fucking idiots. It doesn't matter about using a site that reputable, the price per BTC is steeply speeding into the shitter. Good bye BTC, and good bye cryptocurrency!

>>	Anonymous Tue Feb 25 17:36:12 2014 No.138728 >>138711 yes. i'm happy mt gox went down. now we can move into a new chapter of btc all time highs without gox shitting everything up

>>	Anonymous Tue Feb 25 17:38:42 2014 No.138747 biz major here. thanks moot :3

>>	Anonymous Tue Feb 25 17:39:14 2014 No.138753 >>138706 >owning $300 million or more >wishing him ded The impotent rage of countless neckbeards.

Anonymous Tue Feb 25 17:41:13 2014 No.138765

>tfw "mined" about 50 btc back when it first started for shits and giggles
>forgot about them
>suddenly 3 years later all kinds of hype and faggotry
>btc hit $1000
>lol my face off at idiots thinking this is a thing
>sell 50 at 1k each
>mfw

goddamn sold just in time. i knew this shit wasnt going to last once it hit mainstream.

>>	Anonymous Tue Feb 25 17:44:45 2014 No.138789 >>138728 Yes! Can't wait to see something like bitcoin skyrocket back up whenever the largest BTC marketplace went down. That'll certainly attract a heap of major investors needed to keep BTC sustainable.

Anonymous Tue Feb 25 17:45:43 2014 No.138794

>>138765
>btc at $0.1
haha faggots, idiots think this is a thing LOL

>btc at $1
haha faggots, idiots think this is a thing LOL

>btc at $100
haha faggots, idiots think this is a thing LOL

>btc at $1000
haha faggots, idiots think this is a thing LOL

5 years time and the faggot will be you, don't worry. The log graph is akin to dubs - the harsh truth.

>>	Anonymous Tue Feb 25 17:46:43 2014 No.138800 >>138753 Its not what he owns, its what he OWES

>>	Anonymous Tue Feb 25 17:47:42 2014 No.138809 >tfw your $300+ million is unavailable because a cat is on your keyboard

>>	Anonymous Tue Feb 25 17:48:43 2014 No.138813 >>134067 >wishing that bitcoin prices rize to 1000. Already did >There are at least fifteen of you in these threads Hah 2troll4me

>>	Anonymous Tue Feb 25 17:49:13 2014 No.138817 >investing in a non-existent virtual currency >trading money on a Magic: The Gathering card exchange

Anonymous Tue Feb 25 17:50:13 2014 No.138825

>>138794
BTC was never a thing, no matter the price, any investor that's worth their shit wouldn't trade BTC. Good luck whenever the price drops to around $100 in a couple of weeks. Hey! How about you just buy low and sell high. It's the perfect neckbeard WoW trading strategy.

>>	Anonymous Tue Feb 25 17:51:43 2014 No.138839 >>138825 I'm not a fan of BTC, but this didn't even make any sense.

>>	Anonymous Tue Feb 25 17:53:12 2014 No.138850 >>138839 How?

Anonymous Tue Feb 25 17:54:13 2014 No.138859

>>138800
Yes, and the vast majority of it he took from people who can only shake their fist at the screen while crying uncontrollably.
You don't have to worry about Japan extraditing him back to USA, they won't. They would rather have that $300 millions stay in Japan.

>>	Anonymous Tue Feb 25 17:56:12 2014 No.138871 >>138859 aren't bitcoin exchanges shady af? as in, money laundering schemes?

>>	Anonymous Tue Feb 25 17:56:42 2014 No.138870 Max Keiser @maxkeiser 11h What's happening to MtGox would have happened to JPM, GS, C, HSBC, RBS, BRK, in 2008 if we had free markets. This is Bitcoin's finest hour

Anonymous Tue Feb 25 17:57:13 2014 No.138880
File: 183 KB, 419x309, 1341449120374.png [View same] [iqdb] [saucenao] [google]

>>138850
>btc was never a thing

Random, meaningless, statement

>no matter the price

Price is everything when it comes to currencies and assets, however you want to categorise it.

>any investor that's worth their shit

uwotm8

>wouldn't trade BTC

Many professional traders do. Most swing trade, fundamental and technical traders are non existent for the majorty. MDA's are best indicator of future price

>when the price drops to $100 in a couple of weeks

Pure speculation, price has already rebounded since the sage anywhore.

Then you talk about some WoW neckbeard shit, and I give up at this point.

>>>/b/
>>>/pol/
>>>/r/dogecoin

Anonymous Tue Feb 25 18:04:13 2014 No.138914

just posting this because i have so many feels right now because of this, and because i'm smashed, again because of this.

http://www.youtube.com/watch?v=3yUSGvm4BXA

you can't rely on anyone but yourself.

replace "yoko" with "cold storage wallet".

I've lost it all, anon. i have my house and my car, but i've got bills due and a bank balance of zero.

shut it down.

>>	Anonymous Tue Feb 25 18:04:13 2014 No.138920 >>138880 Thanks for the information! I appreciate your response.

>>	Anonymous Tue Feb 25 18:07:13 2014 No.138936 >>138914 Pray moar get coin

Anonymous Tue Feb 25 18:11:17 2014 No.138961

>>138794
More like it got to $100 at it became clear it was just a sandbox for libertard goldbuggers and no longer useful, i.e. a way to buy drugs online.

Economically illiterate paultards looking for fed-free investments destroyed BTC's value as a currency. It's only a matter of time before BTC's "value" is purely due to illiquid markets.

>>	Anonymous Tue Feb 25 18:11:17 2014 No.138962 >>138880 However, you can throw your BTC trading strategies at me all you want. It doesn't change the fact that Mt. Gox went bankrupt and BTC has devalued over 23% since the bankruptcy.

>>	Anonymous Tue Feb 25 18:15:46 2014 No.138989 >>138962 >and BTC has devalued over 23% oh, the horror. in the past, there were 80% crashes whenever someone at mtgox sneezed.

Anonymous Tue Feb 25 18:16:17 2014 No.138994
File: 157 KB, 1280x720, 1281835401711.jpg [View same] [iqdb] [saucenao] [google]

>tfw most of the bitcoin I had was from mining back in the day
>tfw I put $200 worth when it was less than $2
>tfw my country doesn't know shit about crypto or bitcoin and doesn't care
>tfw never used mtgoy

Could crash to $200 won't make much difference for me

>>	Anonymous Tue Feb 25 18:18:47 2014 No.139011 >>138989 Ya, well this is more than a sneeze. They're bankrupt buddy.

>>	Anonymous Tue Feb 25 18:19:17 2014 No.139012 File: 202 KB, 640x564, 9558389543_71333dd6a9_z.jpg [View same] [iqdb] [saucenao] [google] >>136497 >Implying this isn't just a giant fingerbox.

>>	Anonymous Tue Feb 25 18:20:16 2014 No.139018 >>139011 yes, they are, and the fact that it did almost nothing to the price is amazing.

Anonymous Tue Feb 25 18:20:46 2014 No.139022

>>138989
A handful of people control the majority of BTC.
They can prop up the value all they want, it doesn't change the fundamentals.
Eventually they'll give up too, after they've milked as many paultard suckers as possible via pump-and-dump.
Then you'll see the 100% decline.

Anonymous Tue Feb 25 18:21:47 2014 No.139026

Question for you knowledgeable folks:

How wise would it be to buy into something like LTC while BTC is on the downswing? I see LTC is going down as well, but since that value is already pretty low (13.6 USD) and the value relative to BTC is showing a pattern or spiking couldn't I toss some cash into LTC, wait for it to go up and BTC to hit bottom, then transfer over? Or should I just wait for BTC to bottom out in the next 2 weeks and buy directly in then?

Anonymous Tue Feb 25 18:25:46 2014 No.139043

>>139018
>almost nothing to the price
Wait for it. This won't be a crash, just a gradual decline for a couple of reasons
>The cowards have dumped already.
>The slowfags take time to notice that their money is gone
>The richfags are going to prop up the value as long as they can with whatever they can

Eventually some richfag with wise up, dump some, let the market crash, and then the bubble will resume because of the borderline-autistic levels of of optimism that surround BTC.

>>	Anonymous Tue Feb 25 18:25:47 2014 No.139042 >>139026 >spending real money on fake money Not even once

>>	Anonymous Tue Feb 25 18:26:47 2014 No.139049 >>139042 Define Real and fake. And then either sit back and enjoy your schadenfreude or get out of the thread,

>>	Anonymous Tue Feb 25 18:28:17 2014 No.139064 >>139043 It's the next Enron.

>>	Anonymous Tue Feb 25 18:30:48 2014 No.139074 File: 20 KB, 940x348, chart.png [View same] [iqdb] [saucenao] [google] >>139043 >This won't be a crash, just a gradual decline for a couple of reasons just as expected... bitcoin went through this cycle like four times now

>>	Anonymous Tue Feb 25 18:31:18 2014 No.139078 >>137325 >Finding a lawyer >Attempting to sue a Jew across national borders, especially a Jew who in all likelyhood doesn't even have your money(because he's a fucking moron and couldn't see a slow drain theft). Yeah.. no.

Anonymous Tue Feb 25 18:33:47 2014 No.139090
File: 177 KB, 600x400, Cruise Platinum.jpg [View same] [iqdb] [saucenao] [google]

>ITT we watch anarcho-capitalists eat their own as the cryptocurrency bubble pops

Seriously though, if you want it to be used as a currency you should add things to protect consumers that exist in bank deposits and credit cards. It's many years away from having useful features that will cause it to be adopted.

>>	Anonymous Tue Feb 25 18:34:48 2014 No.139099 >>139064 >>139074 I was right? Sweet. I'm a total newfag (to /biz/ anyway), but I think I understand this shit. It's just people watching with money.

>>	Anonymous Tue Feb 25 18:36:16 2014 No.139112 I've been on the outside looking in this whole BTC saga. I really wanted to invest when it was at $500 in January. Does anyone else think BTC follows a typical episode of American Greed on CNBC? I mean, just watch one. BTC just screams Ponzi Scheme.

>>	Anonymous Tue Feb 25 18:36:16 2014 No.139115 File: 76 KB, 1408x199, But it did happen.jpg [View same] [iqdb] [saucenao] [google] >>136430 Do you remember Zed? I do.

>>	weylik !!HLa2k0R42/h Tue Feb 25 18:37:17 2014 No.139126 mt gox was a disaster waiting to happen

>>	Anonymous Tue Feb 25 18:37:48 2014 No.139123 Just came here to say: Should have invested in something Stable™ Stupid buttcoiners

>>	Anonymous Tue Feb 25 18:40:17 2014 No.139143 >>139126 no, it was a disaster that happened many times over and people still gave them money.

>>	Anonymous Tue Feb 25 18:42:17 2014 No.139154 >>139143 It was always a case of "Not Me" syndrome. Everyone thinks that shit will happen to other people but not them. And then basic economics and someone else's greed kicks them in the face.

Anonymous Tue Feb 25 18:43:17 2014 No.139161

>>139090
The difficulty is in giving that protection without centralizing it or allowing a government to claim control over it. As soon as that happens the idea falls apart. We'd have to employ technological solutions to these problems. At the same time, we can't be coddling morons. It should be made difficult to steal money from others, but it shouldn't keep people from being personally stupid with their money.

The best way to achieve both criteria? Keep your fucking money in your wallet, and only deposit the absolute minimum into exchanges and securities as necessary to make your purchases and investments. You know, like fucking economically smart people with their fiat money. Dumping all your BTC into an exchange expecting safe, huge returns is as stupid as dumping your life savings in a market account and expecting a safe positive real return on investment. These teenagers that haven't even taken a bare-minimum macroecon/financial economics class at university that act like they "get" the economy are the reason this shit happens. Cocksure morons that don't hedge their bets and think they can count the cards, betting it all in the proverbial game of blackjack with a pair of sixes.

>>	Anonymous Tue Feb 25 18:44:47 2014 No.139167 >>136330 cool gif m8

>>	weylik !!HLa2k0R42/h Tue Feb 25 18:45:17 2014 No.139173 >>139154 mt gox was the one most new people used, it was the biggest and most well known this will probably detract quite a lot of people from investing in bitcoin now

>>	Anonymous Tue Feb 25 18:48:47 2014 No.139184 >>139173 That is true. What markets do you think will profit the most from this? BTC-e? Coinbase? Bitstamp?

>>	Anonymous Tue Feb 25 18:48:47 2014 No.139186 >>139161 In many ways this ideological crusade to decentralize reminds me of similar efforts with solar - it's still nowhere near being able to compete with traditional centralized power grids but has potential in 10+ years to do interesting things.

>>	Anonymous Tue Feb 25 18:49:46 2014 No.139190 >>139161 Nope. Diversity does not exist in the world of cryptocurrencies. Bonds? Stocks? lol what's that?

>>	rensx !!gyprgoMCQfg Tue Feb 25 18:50:16 2014 No.139192 File: 1.84 MB, 1912x877, 1393372206758.png [View same] [iqdb] [saucenao] [google] >>136728 >40 Rue Veron 94140 Alfortville pas mal comme quartier, n'est-ce pas?

>>	weylik !!HLa2k0R42/h Tue Feb 25 18:50:47 2014 No.139197 >>139184 coinbase and BTC-E probably, theyre the ones that advertise the most and are more well known they'll most likely take the majority of the traffic and hopefully won't make the mistakes gox did

Anonymous Tue Feb 25 18:52:18 2014 No.139215

>>139197
I'm just getting into this, so I have a couple of questions if you don't mind.
>Coinbase, BTC-e, or Bitstamp?
Coinbase is cheap, Bitstamp is active, and you can trade LTC on BTC-e

Also, how wise would it be to buy into something like LTC while BTC is on the downswing? I see LTC is going down as well, but since that value is already pretty low (13.6 USD) and the value relative to BTC is showing a pattern or spiking couldn't I toss some cash into LTC, wait for it to go up and BTC to hit bottom, then transfer over? Or should I just wait for BTC to bottom out in the next 2 weeks and buy directly in then?

weylik !!HLa2k0R42/h Tue Feb 25 18:56:47 2014 No.139245

>>139215
if youre just getting into it, i'd recommend you read up on bitcoin, LTC and cryptocurrency in general before you seriously invest in it

its the same as investing normally, you have to learn how to play the game

im not that much of an expert to be giving you proper advice, id rather give no advice than wrong advice

dont put in more than youre prepared to lose is all i can say

>>	rensx !!gyprgoMCQfg Tue Feb 25 18:57:48 2014 No.139254 File: 482 KB, 999x511, 1393372646230.png [View same] [iqdb] [saucenao] [google] >>137431 poor lad came from LDN too

>>	Anonymous Tue Feb 25 18:59:47 2014 No.139265 >>139245 >id rather give no advice than wrong advice Hell, that alone means you're better qualified than many here. >dont put in more than youre prepared to lose Investing 101, but always good to keep in mind. Thanks.

>>	rensx !!gyprgoMCQfg Tue Feb 25 19:04:17 2014 No.139279 >>138036 internet points.

Anonymous Tue Feb 25 19:06:18 2014 No.139291

>>139186
>ideological crusade
That's a good way to put the overbearing optimism behind crypto. I have multiple friends that look at falls and crashes like this as a purely positive thing. If this shit happened in the stock market people would be frozen with fear and refuse to move more funds into the market, as they are right to do. There's a disturbing amount of people willing to dump hundreds into something actively depreciating in value on the assumption that the cycle cannot be broken and that the coin will always recover. Fine, it does recover fairly quickly a lot of the time, but we can't be assuming that "crypto-bank runs" are a part of a healthy system.

>>139190
Well, to be pedantic, public market bonds and stocks would tie crypto too closely to real currency, wouldn't they? Though, if you think about it, the more widespread acceptance of the coin becomes, the more closely it begins to emulate fiat currency, right? Even if it's not regulated, it would only be used in the context of regulated markets, so...it's effectively being regulated by proxy.

I feel like I'm making a horrible leap of logic in the wrong direction, so please feel free to correct me.

Anonymous Tue Feb 25 19:06:18 2014 No.139292
File: 10 KB, 432x494, 1332642967196.png [View same] [iqdb] [saucenao] [google]

Has this been mentioned yet?

http://www.foxbusiness.com/markets/2014/02/25/mt-gox-ceo-says-on-internet-chat-hasnt-given-up/

Takeaways:
>uh, we haven't given up
>uh, i lose money if the exchange fails
>money isn't lost "yet"

mfw yet

This is FOX though, so its no more credible that Mt. Goyim...

>>	rensx Tue Feb 25 19:06:46 2014 No.139294 >>138049 Holy shit I haven't heard this since THPS on PS. Nice.

>>	Anonymous Tue Feb 25 19:09:47 2014 No.139307 >>139294 That was in Tony Hawk? Don't remember it at all.

>>	rensx Tue Feb 25 19:10:16 2014 No.139316 >>138049 On second thoughts, I prefer the SongSmith version http://www.youtube.com/watch?v=mg0l7f25bhU

>>	Anonymous Tue Feb 25 19:10:16 2014 No.139318 >>139292 >"yet" If you're filing bankruptcy and you haven't lost your money "yet", it's somewhere safe and ready to be cashed out at a moment's notice.

>>	Anonymous Tue Feb 25 19:11:47 2014 No.139324 File: 214 KB, 1366x1083, aTIa1gt.jpg [View same] [iqdb] [saucenao] [google] >>135742 >Mark Karpeles

Anonymous Tue Feb 25 19:11:47 2014 No.139325

Isn't the whole field of computational cryptography based around the assumption that a given problem isn't feasibly solvable in a relatively small amount of time?
If someone comes along with a proof for P=NP or a new computer architecture all cryptocurrencies would go to shit instantly.

>>	Anonymous Tue Feb 25 19:14:17 2014 No.139342 >>139325 >P=NP N=1 solved :^) no need to thank me :^)

User !!a7Six4EVOK+ Tue Feb 25 19:15:16 2014 No.139350

From my inexperienced little clamshell from which i occasionally poke my head, i must ask:
In the opinion of /biz/, will the bitcoin ever recover? You all seem to make it sound like a death sentence or perhaps some sort of unrecoverable nerve injury.

>>	Anonymous Tue Feb 25 19:16:47 2014 No.139352 >Wishing I had lots of dosh to invest in BTC right now BUY BUY BUY

>>	Anonymous Tue Feb 25 19:16:47 2014 No.139353 >>139342 No, you idiot, N=(P/P). It's piss all the way down.

>>	Anonymous Tue Feb 25 19:18:17 2014 No.139361 >>139353 P/P=1 you dummy :^^^^)

>>	rensx Tue Feb 25 19:18:17 2014 No.139362 >>139307 yeah definitely in one of 'em

Anonymous Tue Feb 25 19:18:17 2014 No.139364
File: 68 KB, 558x745, 1392750312066.jpg [View same] [iqdb] [saucenao] [google]

>>139325
Yes, that would be a side-effect of proving P=NP because that would mean those algorithms are now considered solvable. Luckily for us, it's taken us over 30 years to try and solve it and we are not much closer.

>>	Anonymous Tue Feb 25 19:19:47 2014 No.139372 >>139362 >P/P=1 wow this thread seems to have died down quite a bit we still sticky?

>>	Anonymous Tue Feb 25 19:21:17 2014 No.139382 >>139350 >will the bitcoin ever recover? no. bitcoin dies forever... as it usually does, once or twice a year. see >>139074

Anonymous Tue Feb 25 19:21:47 2014 No.139381
File: 49 KB, 468x558, 1393374075032.jpg [View same] [iqdb] [saucenao] [google]

>>139215

Coinbase is your best friend.

LTC is a STEAL right now, especially on today's news that it's officially going to go on Houbi (chinese trading site). Expect lunar landing soon.

Oh yeah, and I said we saw the bottom for btc last night@4xx and urged everyone to load up in the 4 hundreds if you knew what was good for you...all you 3xx and 2xx dollar oldfags can smooch dat goylord a$$.

>$600---->$700----> sweet grampa tears

Anonymous Tue Feb 25 19:22:17 2014 No.139389

>>139350
I'm not experienced either, but I get the impression this is the "same old shit" with a completely different driving force behind the decline. It might behave normally because of assumptions from traders for a while, but BTC is unregulated; it's completely fucking vulnerable to damage by shit like this, and there's no safety net at all. I'm worried about the long-term; the short term will be a positive for smart investors.

>>	Anonymous Tue Feb 25 19:23:17 2014 No.139390 >>136728 where did you find this doc?

>>	Anonymous Tue Feb 25 19:24:47 2014 No.139398 >>135231 The fuck is wrong with his head? Is this a Jesse Eisenberg shoop?

Anonymous Tue Feb 25 19:30:47 2014 No.139433

>>139389

>inb4 shit every regular btc investor has already known for years. btc forums and trading sites have always been some of the biggest breeding sites for scammers/thieves. But you know what? BTC has continued to thrive. Techies know the inherent risks they're taking with this stuff. The mt. gox 'scare' was nothing more than sensationalized media fanfare for something that the bitcoin community had accepted months ago.

>yfw you realize leejin of neckbeards put more financial faith and confidence behind kilobytes of blockdata than your megainflation promisary notes with GOD references

You goyims will never get it.

>>	Anonymous Tue Feb 25 19:36:16 2014 No.139466 >The year is 2050 >Everyone's forgotten about bitcoin but me >I start mining it >I become the bitcoin king

>>	Anonymous Tue Feb 25 19:36:17 2014 No.139464 File: 114 KB, 1823x426, 1393374997257.png [View same] [iqdb] [saucenao] [google] >>135742 >>136728 is this you? http://forums.graal dot in/forums/showthread.php?7661-Is-Stephane-Portha-involved-with-MtGox

>>	OrthodoxJew !!2b5Co+cfw7S Tue Feb 25 19:40:17 2014 No.139487 File: 190 KB, 745x1073, merchant.jpg [View same] [iqdb] [saucenao] [google] Hey guys, God has given me a great blessing. A few hundred thousand bitcoins just appeared in my wallet. Baruch Hashem! Borchu Hashem Melekh!

>>	Anonymous Tue Feb 25 19:40:17 2014 No.139488 File: 68 KB, 640x480, 1390695676830.jpg [View same] [iqdb] [saucenao] [google] >>139466

>>	Anonymous Tue Feb 25 19:45:47 2014 No.139520 http://www.youtube.com/watch?v=ob9Ak1t09Ao Don't really understand how he can let him Karpeles walk like that, i'd be on a kidnapping and shotgun to the kneecap, like

>>	Anonymous Tue Feb 25 19:50:48 2014 No.139538 >>136728 The people that have lost 1000s or even $M, they know where his parents live .. I dunno all i'm saying is if I lost a million bucks i'd be paying those addresses a visit lol

>>	Anonymous Tue Feb 25 19:55:17 2014 No.139563 >>135837 >Bankers aren't criminal Bankers are no incarcerated, but there is nothing they are more of than they are criminals.

>>	Anonymous Tue Feb 25 19:55:17 2014 No.139564 kek

Anonymous Tue Feb 25 19:57:17 2014 No.139568
File: 26 KB, 405x500, 1334074449108.jpg [View same] [iqdb] [saucenao] [google]

>>139538
There's no way anyone lost a million dollars unless they bought in when the hype was maximum. Usually people like that won't have that 1 million for long anyway.

>but the exchange said it was worth 1 million

Yeah it wasn't unless you bought them when they were a lot cheaper

Anonymous Tue Feb 25 20:03:16 2014 No.139603
File: 66 KB, 641x513, 1333506035321.jpg [View same] [iqdb] [saucenao] [google]

>>139568
Addendum:

6 figures, I'd believe that though. Lots of people have retirement funds and college funds with that amount even though they don't have financial acumen.

>inb4 Winklevoss twins an hero
>studying economics at Harvard
>getting an MBA from Oxford
>buying up 1% of bitcoins
>funding a venture where the CEO gets arrested for money laundering

Anonymous Tue Feb 25 20:03:48 2014 No.139599
File: 53 KB, 480x640, IMAGE_011.jpg [View same] [iqdb] [saucenao] [google]

>>139464
No, but I know him well.
I used to work with him on something called SG111. I was the one that initially fed him the Stephane/Karpeles pics/info back in 06'

Dishonest people such as the French often fall back on the same old tricks and are thus predictable.

Anonymous Tue Feb 25 20:05:17 2014 No.139607

>>136124
>>136280
>>136330

Nobody who works with virtual currency calls them "VC's" because there are so many venture capital firms investing hundreds of millions into their development. Hell, even in industries that have almost no venture capital they still use the letters VC to refer to it. Please use the term crypto and stop confusing everybody. There is so much money flowing into this thing from all side, the least of which is coin itself, for now.

>>	Anonymous Tue Feb 25 20:09:17 2014 No.139632 File: 37 KB, 640x480, IMAGE_076.jpg [View same] [iqdb] [saucenao] [google] >>139192 Not sure if it appears from google maps, but find the odd toolshed in pic and you found it. Note this info is from about a decade ago. No idea if he'll go back there.

>>	Anonymous Tue Feb 25 20:12:17 2014 No.139647 File: 602 KB, 2185x1101, mtgoy.png [View same] [iqdb] [saucenao] [google] not sure if this was posted yet but i just made this

>>	Anonymous Tue Feb 25 20:12:47 2014 No.139646 File: 81 KB, 600x670, happycat.jpg [View same] [iqdb] [saucenao] [google] >>139632 thanks anon do you have more?

>>	Anonymous Tue Feb 25 20:15:47 2014 No.139664 >>139632 >he's actually that much of a dork Ugh. Just look at him.

>>	Anonymous Tue Feb 25 20:16:47 2014 No.139669 >>139647 What a stupid fagit.

>>	Anonymous Tue Feb 25 20:17:46 2014 No.139679 >>139647 >bitc0n yeah fuck off somethingawful. you got rused by /g/, suck it up.

>>	Anonymous Tue Feb 25 20:18:47 2014 No.139683 File: 745 KB, 320x180, 5a9.gif [View same] [iqdb] [saucenao] [google] 1600btc buy on bitstamp just now

>>	Anonymous Tue Feb 25 20:22:47 2014 No.139717 >>132827 >the media isn't really going notice I live in fucking hickville and this shit was the biggest story on my local news

Anonymous Tue Feb 25 20:24:16 2014 No.139730

>>132353

What did I say? What did I fucking say? I told you morons Bitcoin is not a good investment. It's not backed by anything. You are literally burning your money. I warned you faggots this would happen. In other news

Ask someone who has never invested in a cryptocurrency anything.

>>	Anonymous Tue Feb 25 20:28:46 2014 No.139757 What to do with all my graphic cards? dem guys all that effort for nothing

>>	Anonymous Tue Feb 25 20:30:47 2014 No.139781 >>139757 Run it for charity: http://www.worldcommunitygrid.org/ http://folding.stanford.edu/

>>	Anonymous Tue Feb 25 20:33:17 2014 No.139797 File: 288 KB, 795x585, 1393378387480.png [View same] [iqdb] [saucenao] [google] >>139664 http://www.youtube.com/watch?v=HPPj6viIBmU

>>	PlατΩ ( ´∀｀) !!kGRAAvdSlhs Tue Feb 25 20:34:17 2014 No.139803 It's strange that even though people seem so bearish in this thread, which has been up for a day already, prices really have not gone down all that much yet.

>>	Anonymous Tue Feb 25 20:34:17 2014 No.139804 >>139757 it's still HIGHLY profitable to mine altcoins, it still will be for much of the world even if the value of coins drop by 4x.

>>	Anonymous Tue Feb 25 20:39:16 2014 No.139843 >>139647 >this too shall pass What's with Reddit and using phrases like this? Usually I wouldn't care, but the way they sneak them into these posts makes it seem like they're trying to pass it off as their own..

Anonymous Tue Feb 25 20:42:17 2014 No.139858

>>139803
>prices really have not gone down all that much yet.

They have for those with their coins held in Mtgox accounts: all the way to zero.

The people that still hold BTCs should now be wary about using "wallet hosts" in exchanges. People should be demanding more openness from the rest of the exchanges on the internet.

>>	Anonymous Tue Feb 25 20:43:16 2014 No.139863 >>139632 I can't be certain, but I don't think that's Paris. What do you think's gonna happen to Kerpeles? If you're a webdev you can post your twitter i'm interested to hear your views. If you don't wanna be id'd then it's cool.

>>	Anonymous Tue Feb 25 20:47:46 2014 No.139884 File: 20 KB, 236x320, elmer.jpg [View same] [iqdb] [saucenao] [google] >>134334 Elmer FUD's suddenly vewy qwiet.

>>	Anonymous Tue Feb 25 20:47:46 2014 No.139888 >>139843 Wait what? It's from an old Persian fable, how are they trying to pass it off as their own?

>>	Anonymous Tue Feb 25 20:48:17 2014 No.139896 >>139717 it was just a footnote in my city's daily paper

>>	Anonymous Tue Feb 25 20:53:17 2014 No.139930 >>139884 but anon, bitcoin is already at $560 for those that weren't silly and held their coins in mtgox

>>	Anonymous Tue Feb 25 20:55:48 2014 No.139944 >>139930 Yeah, there is an interesting deflationary effect going on, the FBI took 6% out of market, MTGOX just left the market, so the supply is limited in spite of the consumer confidence issues.

>>	Anonymous Tue Feb 25 20:58:47 2014 No.139962 >>139944 *FBI has 1%, been a long day

Anonymous Tue Feb 25 20:59:17 2014 No.139970

>>139944
well not if the thieves sell all the coins.

though I bought yesterday, I don't even care. I

keep expecting an official announcement to sound slightly better than the rumor. Also, Gox has a ton of cash to it seems like everyone could get 2/3 of their account value back

Anonymous Tue Feb 25 21:00:17 2014 No.139974
File: 83 KB, 1225x536, Straight down.png [View same] [iqdb] [saucenao] [google]

>>139930
>>139944

Pretty much what the picture says.

Check out those bounces, it's just doing what it did everytime we broke or hit a major resistance point. Not a rally, just a natural bounce.

Only thing I find kinda strange is the 6h MACD about to turn green. Probably not going to happen, or it's just going to touch the green, since RSI is almost already halfway up.

Climb is about to cap at around 600$ Hell might even shoot a bit over, but this drop isn't stopping.

>>	Anonymous Tue Feb 25 21:02:47 2014 No.139991 File: 35 KB, 1000x700, black-swan-chart.png [View same] [iqdb] [saucenao] [google] >>139974 >swing trading technical analysis in a market where moves are dominated by news event shocks anon, pls. step it up.

>>	Anonymous Tue Feb 25 21:03:47 2014 No.139998 Mark Karpeles reads 9gag he linked it in IRC: http://www.wickedfire.com/shooting-shit/179038-my-conversation-mark-karpeles-mtgox-2.html#post2164682 to here: http://9gag.com/gag/a442vZw why am i not surprised.

>>	Anonymous Tue Feb 25 21:05:48 2014 No.140011 >>139843 That's one of the most famous phrases for hard times ever. I doubt anyone using it is trying to pass it off as their own.

>>	Anonymous Tue Feb 25 21:09:47 2014 No.140037 File: 1.59 MB, 300x162, 1388711853661.gif [View same] [iqdb] [saucenao] [google] >mfw dogecoin will raise up as people will flock to it Oh come in my bitcoin bros, and let the market soar

Anonymous Tue Feb 25 21:10:17 2014 No.140043
File: 80 KB, 926x875, 1392037659593.jpg [View same] [iqdb] [saucenao] [google]

>>139991

No need to go even "technical" just observe the damn bounces.
We have repeated the same move every time we destroyed a major resistance point or hit it.
And it's happening right now.

This sure as fuck isn't a reversal or anything like that. Trend is still down.
Gox hasn't even said anything yet, and when they do the effect is going to fuck over the price, no matter what they say.

If we have a reversal in a market where 750k coins have been possibly stolen, and when we have had the worst possible news hit us left and right, then I have no fucking words for it.
None.
Because it would mean that everyone trading here is pants on head retarded.

>>	Anonymous Tue Feb 25 21:10:47 2014 No.140046 >>140037 this. dogecoin is about to blast off again

>>	Anonymous Tue Feb 25 21:13:47 2014 No.140058 File: 322 KB, 964x341, The Truth Is Out There.png [View same] [iqdb] [saucenao] [google] >>139991 I want to believe

Anonymous Tue Feb 25 21:23:17 2014 No.140106

http://falkvinge.net/2014/02/25/gox-goes-belly-up-after-losing-a-billion-dollars-without-noticing-blames-fault-in-corporate-bookkeeping-protocol/
>claims of a “hack against the vault” are not credible in the slightest
>It’s not possible to miss one single dollar disappearing with normal bookkeeping methods.

How retarded is this guy, from a scale of 1 to 10?

>>	Anonymous Tue Feb 25 21:32:38 2014 No.140164 >>137427 It's not uncommon for international bank transfers to take three days to complete, and instead of 50 cents, they can cost 50 dollars.

Anonymous Tue Feb 25 21:33:08 2014 No.140173

>>140106
You mean Mark Karpeles? Pretty retarded if he had accounting that didn't balance his books down to the last cent.

Deleting the website and twitter and keeping his customers in the dark for weeks at a time while disabling withdrawals didn't help either.

>>	Anonymous Tue Feb 25 21:36:38 2014 No.140187 >>140106 He's right. It's kinda hard to say "we didn't notice" when this is literally all automated.

>>	Anonymous Tue Feb 25 21:37:38 2014 No.140193 >>137427 >pay ~50 cents in fees Nigga is u serious

>>	Anonymous Tue Feb 25 21:37:38 2014 No.140195 Wait, so you store the bitcoins in the computer and if your computer breaks down it's all gone? Can you even back it up? Who came up with this shit?

>>	Anonymous Tue Feb 25 21:38:09 2014 No.140205 >>140195 You can make copies of the wallet or just print out a wallet on paper.

>>	Anonymous Tue Feb 25 21:39:07 2014 No.140207 >>140195 yes backup read some <Satoshi Nakamoto unknown person/group

>>	Anonymous Tue Feb 25 21:40:08 2014 No.140212 >>137893 http://inventors.about.com/od/sstartinventors/a/Levi_Strauss.htm

Anonymous Tue Feb 25 21:42:38 2014 No.140217
File: 149 KB, 590x260, dicker_article.jpg [View same] [iqdb] [saucenao] [google]

<mfw this whole shit was just market manip.
and he now plays the Internet superhero card about pressure from established structures vs. internet freedums currency.

Just like: "hey guys found a backup accidently deleted the prons folder with wallet dats in it. Everythins fine now."

Anonymous Tue Feb 25 21:43:38 2014 No.140228

>>140195
Of course you can back it up. But that's not what happened in this instance. Mtgox's computers didn't "break", the owner was basically too stupid, and retarded to run a tuck shop, let alone the largest bitcoin exchange on the internet. But morons nonetheless flocked to him and got fleeced. Red flags should have happened when people's passwords appeared in their website's URLs. I know those were early days, but it was also public knowledge that md5 was the hashing algorithm used, which is considered depreciated, as collisions can occur.

tl;dr yes you can back up your wallet & mtgox could not into basic accounting pratices.

>>	Anonymous Tue Feb 25 21:45:08 2014 No.140237 File: 159 KB, 1280x960, doge-ancap.jpg [View same] [iqdb] [saucenao] [google] >>140212 you are a clever one :^)

Anonymous Tue Feb 25 21:51:09 2014 No.140272

>>140228
Yeah, I'm still waiting to see if MTGOX didn't lose all of the money investing in FOREX or some shit.

http://blog.blockchain.info/2014/02/25/joint-statement/
>Bitcoin operators, whether they be exchanges, wallet services or payment providers, play a critical custodial role over the bitcoin they hold as assets for their customers. Acting as a custodian should require a high-bar, including appropriate security safeguards that are independently audited and tested on a regular basis, adequate balance sheets and reserves as commercial entities, transparent and accountable customer disclosures, and clear policies to not use customer assets for proprietary trading or for margin loans in leveraged trading. It does not appear to any of us that MtGox followed any of these essential requirements as a financial services provider

>>	Anonymous Tue Feb 25 21:57:07 2014 No.140319 >>132353 >customers are still buying coins and depositing lol how stupid are these people

>>	Anonymous Tue Feb 25 21:57:37 2014 No.140312 >>140058 hey what do you do that fade effect in gimp/photoshep?

Anonymous Tue Feb 25 22:02:08 2014 No.140344

>>140187
>this is literally all automated.
I somehow doubt he was that competent, from what it looks like he was a fairly poor programmer that saw a chance to go into business.

MtGox was probably just an open source database, set up to store account names/credit and buy/sell offers, with a few basic functions to transfer funds around. I think expecting him to have put in proper bookkeeping, or to have systems to audit it is a bit optimistic.

>>	Anonymous Tue Feb 25 22:07:38 2014 No.140365 >>140312 http://www.wikihow.com/Adjust-Opacity-in-Adobe-Photoshop

>>	Anonymous Tue Feb 25 22:10:08 2014 No.140383 File: 386 KB, 453x496, 1391253077138.png [View same] [iqdb] [saucenao] [google] >>140106 >How retarded is this guy, from a scale of 1 to 10? Considering he's sitting on a billion dollars he fleeced from gullible idiots, I'd say he's probably about a 1.

>>	Anonymous Tue Feb 25 22:12:38 2014 No.140389 File: 365 KB, 1600x1200, NYSkyline.jpg [View same] [iqdb] [saucenao] [google] I was thinking of putting $2k into btc. Do any of you guys have a buy in point? or do you all think it will plummet all the way to zero

>>	Anonymous Tue Feb 25 22:13:38 2014 No.140397 >>140383 imagine the amount it would be worth when bitcoin soaks up half the dollar

>>	Anonymous Tue Feb 25 22:14:38 2014 No.140401 >>140389 I would think it's right now. The news of mt. Gox has gotten to most people

>>	Anonymous Tue Feb 25 22:16:37 2014 No.140412 >>140389 If it ever drops below 500 again im going to buy a bit more.

>>	Anonymous Tue Feb 25 22:17:08 2014 No.140420 >>140383 how many hits are set against him? how many already devise plans to murder him? fucking with people's wealth and criminal's means of conducting business is not really a smart way to make money

Anonymous Tue Feb 25 22:21:07 2014 No.140451

>>140389
Well, for whatever a stranger's opinion is worth, I'd be buying in large-scale right now if I had the liquid capital to work with.
Sadly, all my to-be-invested cash is invested.
Still, I'm considering gouging the non-essentials out of my budget to get some cash to up my BTC stake.

Anonymous Tue Feb 25 22:21:37 2014 No.140443
File: 48 KB, 630x354, twinkoins.jpg [View same] [iqdb] [saucenao] [google]

>>140389
Experience has shown that the only true future-proof currency is the Twinkie. The demand for this non-perishable snackfood item is already sky-high, whipped into a frenzy from recent worries about a reduced supply.

In the future, when President-for-Life Jaden Smith is selling our children's organs to zoos for meat, the twinkie will be the de facto currency of the great western wastelands.

>>	Anonymous Tue Feb 25 22:22:07 2014 No.140455 >>140401 looks like it's been in a decline since mid January though. How do we know it stops here?

Anonymous Tue Feb 25 22:22:08 2014 No.140459
File: 393 KB, 1340x1658, TheMummyReturns_16.jpg [View same] [iqdb] [saucenao] [google]

>>140389
I'm nowhere near satisfied with the level of despair in the btc market right now, given the hilariously bad news we've had so far.

I want to see the bitcoin subreddits filled with suicide hotline info, I want all of the friends and the parents of people who own it to hear about this and bust the an-cap's balls over this.

Right now people are still acting as advocates for this shit, "we can correct the media! If we have better exchanges it will work!" I want hopelessness and suffering. I want them to wake up in a cold sweat with heart palpitations, so disgusted by it that they will sell it just to get of the cursed shit. I want them to tell their spouses how much they were right about bitcoins, that those pieces of shit really will never work. Then I'll buy.

>>	Anonymous Tue Feb 25 22:22:38 2014 No.140457 >>140420 You think he thought this up on his own? The criminals are in on it.

>>	Anonymous Tue Feb 25 22:23:38 2014 No.140461 http://www.reuters.com/article/2014/02/26/bitcoin-mtgox-japan-idUST9N0LP00020140226 Hey now.

>>	Anonymous Tue Feb 25 22:25:38 2014 No.140472 https://blockchain.info/tx/e6d4cfbbc45b5e3cfcfa36613b04a8732c7b4606f5dbbd8af3ba06d8f3899fc2

>>	Anonymous Tue Feb 25 22:26:38 2014 No.140475 File: 417 KB, 596x511, 1393385166283.png [View same] [iqdb] [saucenao] [google] >>140365

>>	Anonymous Tue Feb 25 22:27:07 2014 No.140482 >>140459 I want bitcoins to dip into the negatives, where people will pay you in solid gold and hookers to takes these filthy coins off their hands. And, reviling in disgust, I will accept them. For I am a generous man.

>>	Anonymous Tue Feb 25 22:29:38 2014 No.140489 File: 115 KB, 820x642, iBHgE4j.png [View same] [iqdb] [saucenao] [google] cavirtex just suspended withdrawls again

>>	Anonymous Tue Feb 25 22:39:08 2014 No.140549 >>132407 >>132414 It surely was an inside job, from the guy who made those cold wallets There's no other way they could had lost them, unless they were compromised since their inception

Anonymous Tue Feb 25 22:40:40 2014 No.140551
File: 816 KB, 2048x512, Bekenstein_Panoramic_View.png [View same] [iqdb] [saucenao] [google]

>>140459

This is actually what I'm waiting for.
And according to all reason it should have happened.
It's almost like all the holders are older players with strong hands are downright refusing to sell under 500$.
That's really the only explanation I can come up with.
But that would mean that the new money that came into BTC is nonexistent.

So if the new money that came in before was little to nothing, then after this fiasco the money flow is going to stop completely.

Anonymous Tue Feb 25 22:44:08 2014 No.140581

>>132870
>when high-end nvidia maxlel cards come out, all the scrypt miners will be switching over due to their efficiency.
But they're not, Nvidia doesn't focuses on computing on their consumer lines
Not even the GPGPU lines can compete with AMD on computing nowadays, their main advantage is CUDA and all the HPC stuff coded for that

>>	Anonymous Tue Feb 25 22:46:08 2014 No.140586 >>140459 >Then I'll buy. ace post, anon; i lol'd

Anonymous Tue Feb 25 22:46:38 2014 No.140587

>>132450
>Holy shit, Satoshi is going to have to come out of retirement to cover this one. I swear to god if we start seeing bitcoin days destroyed in the next few days I'm going to be seriously worried about the future of bitcoin. We will most certainly see a massive crash if this document proves to be real
What if he burned his buttcoins?

>>	Anonymous Tue Feb 25 22:47:08 2014 No.140598 File: 218 KB, 990x701, imageref8.jpg [View same] [iqdb] [saucenao] [google] >>140551 You guys are on the opposite spectrum. Many people have high hopes for bitcoins, they believe that its actually undervalued right now. They believe it can hit 1k again.

>>	Anonymous Tue Feb 25 22:47:38 2014 No.140597 >>132486 I really doubt it could go lower than that, maybe 250 is the bottom Look at the history of all the cryptocoins, none of the succesful ones have gone lower than their pre bubble price

>>	Anonymous Tue Feb 25 22:50:08 2014 No.140607 >>132523 You're going to break even But maybe in a year or so

>>	Anonymous Tue Feb 25 22:52:38 2014 No.140617 >>140443 But twinkies aren't actually everlasting. I can't remember but I think they only last for either 5 or 25 years.

>>	Anonymous Tue Feb 25 22:56:39 2014 No.140644 File: 10 KB, 623x106, twinkies.png [View same] [iqdb] [saucenao] [google] >>140617

>>	Anonymous Tue Feb 25 22:57:08 2014 No.140655 >>138413 Are you insinuating that the yen exists for anything else than carry trade?

>>	Anonymous Tue Feb 25 22:57:38 2014 No.140651 >>140644 THAT'S NOT A SHELF LIFE, THAT'S A HALF-LIFE

>>	Anonymous Tue Feb 25 22:59:08 2014 No.140668 >>132761 Doge rises Buy doge, but with USD or CNY, don't use BTC

>>	Anonymous Tue Feb 25 23:02:07 2014 No.140685 >>132847 The problem is, how low? It will eventually go back up, though the problem is how long it will take

Anonymous Tue Feb 25 23:03:38 2014 No.140689
File: 67 KB, 500x500, 1393387407016.jpg [View same] [iqdb] [saucenao] [google]

>>140598

Most likely mix of people who bought +800$ and some delusional idiots hoping for this to reach 100k.

Yes we are on the opposite spectrum, we are on the realistic side.

I do love the idea of Crypto but this retarded speculation and ultra greedy get rich quick attitude is what's hurting it the most in the first place.

What we need is a steady sustainable growth supported by adoption and all that.
Not "to the moon because winkledinkles said that it should reach at least 40k this year!"

I wonder how long these guys can flip these coins around before they run out of money. There's simply not enough new money coming in, and after this Gox crap the moneystream is going to run dry.
Oh and that french fuck just bought Gox.com

He's actually trying to get it off the ground. Not going to work, not after all the crap he caused. No fucking way.

>>	Anonymous Tue Feb 25 23:06:08 2014 No.140712 ne0futur: 2014-02-20 10:40<MagicalTux> le gouv. US veut pas qu'on disclose hein [6:13pm] TuxBlackEdo: english plz [6:13pm] ne0futur: US gov doesnt want us to disclose ne0futur works/worked for Mt Gox - from IRC #mtgox-chat

Anonymous Tue Feb 25 23:06:37 2014 No.140706
File: 144 KB, 682x800, bitcoinconference.jpg [View same] [iqdb] [saucenao] [google]

>>137527
The greatest thing about dollars is that you know some kid in a really poor country is getting bombed by a drone that was paid for with freshly printed money that, in addition to murdering children, also debases your personal wealth.

Yeah dude, war bucks are the best. So much better than Bitcoin, what were they thinking?

>>	Anonymous Tue Feb 25 23:07:09 2014 No.140719 >>132746 >i'd have thought that, with the internet, knowledge of this double withdrawals scam would spread like wildfire? No, the people who discovered it aren't dumb enough to let leak it, why would you share it and let others take the pie?

>>	Anonymous Tue Feb 25 23:09:38 2014 No.140725 >>132736 Localbitcoins Though is shadier than the russians Or buy from some neckbeard, maybe even buy some shitcoins from someone and get BTC with that

>>	Anonymous Tue Feb 25 23:11:08 2014 No.140739 >>140443 > how can twinkies be real if our bologna tongues aren't real

>>	Anonymous Tue Feb 25 23:17:38 2014 No.140765 >>140712 password pls

>>	Anonymous Tue Feb 25 23:18:38 2014 No.140769 >>133012 >So you're seeing shit about people buying right now, whether they are or not, that's the message that the people holding the bag right now want out there. That people already cashed out At 200, then at 900, then at 1200, and again at 800

Anonymous Tue Feb 25 23:21:50 2014 No.140787

>>140689
>He's actually trying to get it off the ground. Not going to work, not after all the crap he caused. No fucking way.
If he doesn't get in trouble with the law, I genuinely believe he'll be able to get it back up and have people put money into it.

>>	Anonymous Tue Feb 25 23:24:20 2014 No.140809 >>138105 You know it has crashed 4 times now, right? This one was just much longer than the previous ones and not as much of a spike or a fall, which means only one thing: it is getting more stable each time this happens.

>>	Anonymous Tue Feb 25 23:24:52 2014 No.140805 >>140765 sorry mang just F5 http://www.reddit.com/r/Bitcoin/new/

>>	Anonymous Tue Feb 25 23:27:50 2014 No.140823 >>139381 I agree. just bought in LTC

Anonymous Tue Feb 25 23:28:21 2014 No.140825

>>140809
It doesn't mean that at all. It's definitely going to recover, but it was unstable for a different reason. The DDoS thing is an annoyance and the Gox situation was local to MtGox. The other crashes were caused mainly by panic which is why they happened pretty much instantly.

Anonymous Tue Feb 25 23:29:21 2014 No.140830
File: 10 KB, 124x125, 1392608297397.jpg [View same] [iqdb] [saucenao] [google]

>>140689
>>140598
I've been thinking about starting some sort of product line that can capitalize off of an-cap's blind hatred of government, taxes and love of hyper-deflationary currency.

>>140809
>stable

That depends on how you define "stable".

>>	Anonymous Tue Feb 25 23:33:51 2014 No.140854 File: 85 KB, 677x600, 1391125568277.jpg [View same] [iqdb] [saucenao] [google] Holy shit! Those 788 558 coins have just been transferred to one wallet!! https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew IT'S HAPPENING!

Anonymous Tue Feb 25 23:33:51 2014 No.140855

>>140830
just start a ponzi scheme. someone literally started one named bitponzi and announced it was a ponzi.

bitcoiners started buying into it anyways. they say a fool and his money are soon parted, but when it comes to crypto-currency retards the "soon" is measured in attoseconds.

>>	Anonymous Tue Feb 25 23:34:20 2014 No.140857 >>140712 Haha, this guy knows his customers alright. Blame everything to evil murrikkan gubmint, the usual bitcoin users will lap it right up.

>>	Anonymous Tue Feb 25 23:36:51 2014 No.140870 File: 190 KB, 1200x900, 2b8Fec3.jpg [View same] [iqdb] [saucenao] [google]

>>	Anonymous Tue Feb 25 23:39:21 2014 No.140883 >>140854 >MZ3Tew it was discovered yesterday that was BTC-e

>>	Anonymous Tue Feb 25 23:47:20 2014 No.140917 File: 43 KB, 300x295, 1392134512231.jpg [View same] [iqdb] [saucenao] [google] >>140883 >MZ3Tew >Mzetew >Mazeltow Holy crap! We are dealing with Russian mafia Jews that are about to dump the hell out of magical internet shekels.

>>	Anonymous Tue Feb 25 23:47:50 2014 No.140921 File: 138 KB, 600x888, JkiQAV1.jpg [View same] [iqdb] [saucenao] [google] >>140917 HOW DID YOU KNOW?

Anonymous Tue Feb 25 23:48:22 2014 No.140929
File: 44 KB, 300x250, 1393390129069.jpg [View same] [iqdb] [saucenao] [google]

>>138481
I sent $2300 worth of BTC to a friend the other day to buy some computer parts. The transaction cost me twenty cents, I did it from my home computer in exactly 15 seconds, it showed up in his wallet instantly with a 256-bit encrypted note attached as a contract, and it has now been re-confirmed hundreds of times just a few days later, and it will continue to get confirmations for free in perpetuity.

How much would that cost with western union, how much time would it take for either me or him to log into their website, and god forbid if either of us doesn't have a bank in their network then we have to walk to their physical location and sign a bunch of shit. Why don't you ask them if they will send a 256-bit encrypted message along with your money next time?

Here's a real question: how about you actually consider the real world uses of this thing and maybe, just maybe give it a try sometime. Just send a few bucks with it and you will never go back to a closed and centralized network for these kinds of things.

Now, how stupid do I sound? Just like all bitcoiners, right?

Anonymous Tue Feb 25 23:50:20 2014 No.140940

>>138507
How is it damned if it keeps going up, like it has been, even when much worse stuff was happening, like Gox servers getting jammed by DDOS? Look over the numbers and it is clear that this was the least violent crash yet of bitcoin, and the record has a clear long term growth pattern.

Anonymous Tue Feb 25 23:56:51 2014 No.140967
File: 34 KB, 315x400, gfcf-grape-tarts3[1].jpg [View same] [iqdb] [saucenao] [google]

>>138638
>It doesn't affect me, so why give a shit?

Are you even human? Because I kind of like seeing new technology that helps people do cool stuff even though it is not directly affecting me. All sorts of medical technology, computing, recording, and transportation tech is out there that I will never use myself, but I am glad that other people are able to benefit from it. Can you not have a single positive thought about what bitcoin could do for the world?

>>	Anonymous Tue Feb 25 23:58:21 2014 No.140979 >>140489 and here's why https://twitter.com/cavirtex

>>	Anonymous Wed Feb 26 00:00:51 2014 No.140992 >>140967 this is actually my biggest gripe with bitcoin, it's failed to do what it set out to do, there aren't many places that accept it and that number hasn't really seen any dramatic rise. It's an investment and speculation tool, not a currency.

Anonymous Wed Feb 26 00:02:21 2014 No.141001
File: 36 KB, 223x349, chip chong nip nong.jpg [View same] [iqdb] [saucenao] [google]

>>140940
Was it the least violent because of the price action?

Even more bitcoins have been taken out of circulation by exchanges, horders and regulators. Coins will only get harder to mine. If the price goes up does that mean growth?

>>	Anonymous Wed Feb 26 00:09:51 2014 No.141028 File: 923 KB, 2912x2008, 1381227194139.jpg [View same] [iqdb] [saucenao] [google] >>132478 >implying Satoshi is Japanese

>>	Anonymous Wed Feb 26 00:14:20 2014 No.141050 >>140992 >there aren't many places that accept it and that number hasn't really seen any dramatic rise. >no dramatatic rise You might want to rethink that statement. source: http://www.bitcoinpulse.com/chart/coinmap/num_venues/total

>>	Anonymous Wed Feb 26 00:19:21 2014 No.141078 >>141050 You do know the majority of place that 'accepts' bitcoins never touches the thing right?

>>	Anonymous Wed Feb 26 00:25:55 2014 No.141098 >>137422 It was in the WSJ today, and they clearly hadn't gotten wind about the insolvency or the documents yet, it was only regarding the inability to withdraw. Can't wait to see tomorrows headlines lol.

>>	Anonymous Wed Feb 26 00:41:07 2014 No.141158 >>140979 I wonder how much was stolen from their hot wallet.

>>	anonymous Wed Feb 26 00:41:54 2014 No.141157 Can anyone tell me if the economy will crash within the next 5 weeks? I read the story, on the dhs guy who tells the 21yr. But need more facts are there any out there?

Anonymous Wed Feb 26 00:44:55 2014 No.141168

>>141157

wait until 2015 or 2016

right now we are seeing the start of major problems (BRICS failure, EU debt crisis, gridlocked US Congress, QE, student loan bubble, housing bubble part 2, facebook bubble, CA dustbowl and US crop fuckups) , but they won't become manifest for another 18 months at least

even then, invest in defence contractors and massive companies like IBM and P&G; which will probably be around even if the economy takes a huge shit

>>	Anonymous Wed Feb 26 00:46:54 2014 No.141181 All the cryptocoinfags should kill themselves already. I hope this is one of the many successful blows for this prosperous future I envision.

Anonymous Wed Feb 26 00:50:54 2014 No.141193

>>141078
Lots of it goes through Bitpay, so Bitpay and maybe the customer use bitcoin. The rate of growth is pretty good. We went from alpaca socks to now being able to buy everything from cars to houses and computer parts, food, almost every kind of thing there is can be bought with it now, and the size of the companies jumping on board is really huge. Subway restaurants is accepting BTC at four locations, two in the USA last time I checked. As some of the really big players come in slowly, this will get interesting. The government has basically given the okay to anybody wanting to deal with bitcoin as long as it is taxed and regulated to some extent. It is now a currency in California and a commodity hybrid with a license in New York.

What more do you really want? Growth is high and rising and the price is coming up to match the future potential. There is nothing indicating that it will stop any time soon before it adds two or three zeros onto the price.

There is very little significance to whether or not bitcoin is held onto by businesses. Some will and some won't, and over the next few years that will change in a fairly predictable pattern. Anybody paying any attention at all has seen all of this coming for months now. It was totally expected. We know what will happen to the price if BoA or Wells Fargo start offering bitcoin accounts. We already have the Bitpayroll service that will transfer the coins into your wallet from earnings. There is nearly a billion dollars that have been invested so far in all of these new companies and services, and the number of new investments is rising fast as well. There is a lot going on behind the scenes right now that is helping to turn this thing around and it has nothing to do with fat whales. You think that buy wall at 400 yesterday was a whale wall? It could very well have just been the one key low number that everybody was aiming for, and it never got there.

Anonymous Wed Feb 26 00:56:55 2014 No.141221

>>141193
>Some will and some won't, and over the next few years that will change in a fairly predictable pattern.
You bean the increasing shunning of BTC by businesses and governments due to massive volatility for the former and the only real use for it being to buy drugs, for the latter?

Anonymous Wed Feb 26 01:09:25 2014 No.141292

>>134708
>double withdrawal exploit
Only applies to exchanges with hack-job programming. Not Bitcoin itself.

>51% of miners can take over and rewrite transactions thing.

You would need hundreds of millions of dollars of top-tier mining hardware to do that, and if you have that kind of cash and mining power you don't give two shits about fucking with the network.

Anonymous Wed Feb 26 01:09:55 2014 No.141295

>>141221
>increasing shunning of BTC by businesses
Like BoA saying it looked like a useful tool for e-commerce? How about Ebay sales of bitcoins? Newegg tweeted they liked bitcoin, as did the co-founder of Paypal. Members of big banks like Goldman Sachs are investing in bitcoin ventures. Just about the only places shunning it are poor communist shitholes that have proven time and again to ruin their economies, and also the wonderful JP Morgan seems te be trying to kill bitcoin. Whose side do you want to bet on?

>>	Anonymous Wed Feb 26 01:11:55 2014 No.141307 >>141158 its reasonable to assume that whoever had the skills to perform these attacks, did so repeatedly against all the vulnerable exchanges which to my understanding was pretty much all of them (for a time)

>>	Anonymous Wed Feb 26 01:25:33 2014 No.141367 >>141295 Wow, shill harder. Tweets are worth shit, just pandering to cointards, and all that was before the prosecutions and Gox imploding, anyway.

Anonymous Wed Feb 26 01:27:03 2014 No.141377

why is this nigger ass thread even a sticky? Linking "buttcoin.org" and acting like they have some esoteric knowledge. Mt Gox is going to shit, so fucking what? It's been the shittiest exchange forever and I'm glad it's done. Anyone using Mt goy is a fucking autist noob and deserved to get robbed of every btc/$$ they invested.

>>	Anonymous Wed Feb 26 01:30:33 2014 No.141387 >having a password for your money The more I read about crypto-currency, the stupider it gets. I cannot fathom how anyone would think this was a good idea other than delusional libertarians.

>>	Anonymous Wed Feb 26 01:33:33 2014 No.141397 >>141387 >having a PIN number for your debit card >having encryption for international wire transfers You're right, cyber security is fucking stupid and we should just bring back gold doubloons.

Anonymous Wed Feb 26 01:39:34 2014 No.141427

>>141193
They accepts coins through partnership with exchange sites. You give exchange site your coins, they give cold hard cash to the businesses.
You want to pay them with coins directly?
HOLD IT!! Leave your hippie money outside. In here we only accept regulated taxed evil gubmint backed baby killing toilet paper.

Anonymous Wed Feb 26 02:05:21 2014 No.141516 [DELETED]

File: 3 KB, 220x165, 220px-Toiletpapier_(Gobran111).jpg [View same] [iqdb] [saucenao] [google]

>>132484
You don't have to imagine it. Just look at 2008.

>>132459
This is like if the NYSE fucking shut down. You tell me how much USD would be worth if that happened. Yeah, the NYSE isnt the USD, yeah it's only one of the big boards, but I'll be you 500 sheets of toilet paper that the USD would be worth about as much as pic related.

Anonymous Wed Feb 26 02:26:26 2014 No.141582

>>141098

FUD harder. Those with even a sliver of knowledge of the market already know the full scope of the situation, and the 'worst case' has already materialized everywhere from here to Guangdong and everywhere in between. Yet the demand has only increased.

Grampafags will continue to grit their dentures and pound their fists that buttcoinye and alts were that boat they were too autistic to catch, now they're relegated to kissing droves of stagnant bullion from listening to an overly paranoid SHTF 'silver futurist' downie on jewtube.

>getcher weight up, son

>>	Anonymous Wed Feb 26 02:31:55 2014 No.141596 File: 76 KB, 1113x732, duh.png [View same] [iqdb] [saucenao] [google] This is proof that "M-M-M-M-MONOPOLY MONEY" faggots are just train-missing autists. New paradigm, bitches.

>>	Anonymous Wed Feb 26 02:32:26 2014 No.141599 Bitcoin doesn't need anyone to make itself look stupid. $350 million gone with no accountability and this after not being able to withdraw your own money for weeks. It's a broken paradigm but scammers will find a way to dupe stupid people.

>>	Anonymous Wed Feb 26 02:40:56 2014 No.141617 Anyone who was asspained about getting in late to the party, now is your chance to buy.

>>	Anonymous Wed Feb 26 02:51:56 2014 No.141647 File: 8 KB, 104x146, assburgers.jpg [View same] [iqdb] [saucenao] [google] >>134403 I'm surprised someone that fucking stupid managed to amass 375k in the first place. Fucking normalfags, how do they work?

>>	Anonymous Wed Feb 26 02:53:55 2014 No.141654 >>141397 You're missing the point. If you forget your PIN, you bank issues you a new card and PIN. If you forget your password, well, you're fucked.

>>	Anonymous Wed Feb 26 03:06:27 2014 No.141710 >>140459 Goddammit I love you. It's 9am and you made my day already.

>>	Anonymous Wed Feb 26 03:25:26 2014 No.141777 I Told You So

>>	Anonymous Wed Feb 26 03:32:56 2014 No.141790 File: 24 KB, 319x243, 1393403546173.jpg [View same] [iqdb] [saucenao] [google] $600, bitches!!!1111

>>	Anonymous Wed Feb 26 03:33:25 2014 No.141792 >>141790 Just you wait until they start going on about dead cat bounce

>>	Anonymous Wed Feb 26 03:37:56 2014 No.141806 >>141792 inb4 you cryptofags just wait til MSNBC gets a hold of Kerpeles' lethal dietary habits in the morning >amirite

>>	Anonymous Wed Feb 26 04:01:56 2014 No.141876 So you mean to tell us that a highly volatile, destructible, unstable electronic money is easily stolen and manipulated? You don't say?

>>	Anonymous Wed Feb 26 04:22:29 2014 No.141911 File: 281 KB, 1500x800, dollar-monopoly-money.jpg [View same] [iqdb] [saucenao] [google] >bitcoin at $600 it's already HIGHER than when mtgox shut down kek

>>	Anonymous Wed Feb 26 04:25:28 2014 No.141918 Guys, I think you better get in here: http://fiatleak.com/ China's on a rampage. As of this moment, 3110 BTC exchanged in China.

Anonymous Wed Feb 26 04:47:16 2014 No.141985
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If I can't convert it to cash that I actually can possess in my hands in less than an hour, it is worthless to me.

I have zero interest in philosophies, visions, ideas and the aspirations of techies waxing political when it comes to a transaction. I have neither the time nor interest in dicking around with gay little websites and nerd chatter to get paid.

Transmission of funds should not be an act of faith I have to dwell on for more than a split second. I should not have to research the breadth and depth of the internet, monitor the web news and acquire 50 or more techie terms and definitions and mini flow-charts to take the goddam money that is mine.

All this virtual currency shit is garbage and can burn in hell. It seems mostly targeted to idle political theorists, trendy web-hipsters, poor youngsters who don't know any better and just wanted an inroad to an investment that sounds fun on paper, and mostly hopeless suburbanite teens without brains or balls to buy drugs in person.

The rest are the only people who know how to profit from it- open an exchange, wait, claim error or theft and saunter off with everyones money leaving clients to shriek online in impotent rage.

tl;dr- if the damn fool thing worked we wouldn't have to have 1,700+ post thread wondering about it. A successful 'currency' shouldn't carry anecdotes about people actually getting their money to be so rare that its a notable exception as if they won at a casino. Thats no sustainable currency I ever heard of.

Virtual Currency indeed. To be effective, the term 'currency' shouldn't rely on any adjectives. It either is currency or it isn't- that's the damn definition of what a currency is. This crap is just *called* currency to mask what it really is by calling it what it isn't. If you called it "Fraud Options and Futures" no one would put real money into it.

>>	Anonymous Wed Feb 26 04:49:47 2014 No.141991 >>141985 just another salty oldfag mad he missed out on several opportunities for the $1 to $1200 hype train <\|:^)

>>	Anonymous Wed Feb 26 05:03:50 2014 No.142037 >>141991 i like how now that the price is HIGHER than before mtgox shut down, they can't even make fun of the crash :^) now all they're left with is making bullshit theories to make themselves feel better :^) :^) :^)

>>	Anonymous Wed Feb 26 05:06:20 2014 No.142040 >>141991 You'll be driving that Ponzi train into a cliff soon, don't you worry. :)

>>	Anonymous Wed Feb 26 05:07:21 2014 No.142044 http://www.businessinsider.com/report-mtgox-subpoenaed-by-us-prosecutor-2014-2

>>	Anonymous Wed Feb 26 05:08:51 2014 No.142049 >>142037 Let's check bitstamp... 580... looks about exactly as high.

Anonymous Wed Feb 26 05:09:51 2014 No.142051
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>>141991

Boy that was predictable. I actually thought it might take more than ten minutes. I make money elsewhere and dont need this crap.

But you're damn right I'm mad. For one, I'm not some kyke who thinks money I didn't make is somehow a loss. Two, I didn't actually lose any cash because I never trusted the shit enough to go near it.

But I have lost. I have lost precious time reading about it and hearing people cry about one damn crisis after another. I have lost time reading and learning about it and wasting five seconds of faith that it was going anywhere by wrongly dignifying it with legitimate attention. I've wasted countless minutes and calories learning about some faggot nerd shit only to ultimately conclude the whole thing is some autistic online game played by losers who think clever little software exchanges represent wealth.

Hell, I'm wasting time on it right now. It's a fucking black hole thats all about discussions and talk and no goddam actual business.

And then theres always that guy. If you point out any criticism of VC, some shill jumps in with "it used to be worth nothing and u mad it went to $1k!"

Thats the fucking punchline- if you cant cash out, it was worth nothing all along. Thats the point. Just because some poor sap will pay $1k for a bag of shit doesn't make my toilet a gold mine and flushing does not constitute a fortune lost, you daft fucks.

Bitcoin shills are like goldbugs on crack. Its all about being viewed as 'right' no matter how shitty the evidence is. Thats what they love more than profit. Its some sort of aspie cult. You can't convince them the hole thing is a waste. Bunk. The currency' of hubris colliding with ignorance. They should have called it BabelCoin.

BTC goes up "I have something people pay for! Im a genius!"
BTC plummets "It will be worth a fortune any day now"

I cant tell if they are crazy or retarded.

>>	Anonymous Wed Feb 26 05:10:51 2014 No.142055 File: 42 KB, 649x213, 1393409442914.png [View same] [iqdb] [saucenao] [google] >>142051 >blah blah blah so fucking mad. pic related, it's you in 2010.

>>	Anonymous Wed Feb 26 05:11:21 2014 No.142056 File: 35 KB, 605x214, 1393409510333.png [View same] [iqdb] [saucenao] [google] >>142051 i found another picture of you in 2010, when bitcoin was under 50 cents each. :^)

>>	Anonymous Wed Feb 26 05:13:50 2014 No.142060 File: 100 KB, 480x640, JYV9fVT.jpg [View same] [iqdb] [saucenao] [google] Looks like they are getting some media attention also in Japan.

Anonymous Wed Feb 26 05:13:50 2014 No.142061
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>>142051
you could've made tens or even hundreds of bitcoin per DAY in 2010 instead of incorrectly rationalizing then. :^)

just like you're making incorrect rationalizations now :^) :^) :^)

>>	Anonymous Wed Feb 26 05:16:21 2014 No.142065 >>142051 >if you cant cash out but i can. and have successfully done so in the past. i never kept my money on gox. current situation is a logical conclusion of a string of problems that gox had throughout it's existence.

>>	Anonymous Wed Feb 26 05:16:21 2014 No.142067 >>142061 Whenever "being rational" turns into something negative, I know I've got a bubble on my hands.

>>	Anonymous Wed Feb 26 05:16:21 2014 No.142070 >>141599 The dollar doesn't need anybody to make it look like a shitty currency. Every year billions of dollars are stolen with no accountability.

Anonymous Wed Feb 26 05:19:51 2014 No.142077
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>>142067
but anon, there's a difference between rationalization and being rational :^)

not knowing the difference is a sure sign of igorance. just like you're too ignorant to understand the viability of bitcoin :^) :^) :^)

it's okay, there were many like you in 2011. however, unlike you, many others figured it out along the way :^^^^^^^^^)

>>	Anonymous Wed Feb 26 05:24:51 2014 No.142089 >>142051 You entirely miss the technological innovations. Ease of use will eventually catch up too, so old grandads like yourself can get your heads around it.

Anonymous Wed Feb 26 05:26:51 2014 No.142097
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>>141985
I can guarantee this dinosaurfag was saying exactly the same thing about the internet 20 years ago, right up until he was basically forced to use email and do other essential tasks on it. Some people are just really slow at adjusting to changes once they find a formula in life that works. No matter how much better anything can ever be, unless it is forced upon them and spoon fed completely, then they never catch on to anything. Just let them marinate in their sour juices for a little while longer.

I mean, who would ever want to send money to somebody else in the world quickly and cheaply using the internet? No, that would about stupid. Letters, video/audio recordings, books, newspapers, chatrooms, and data archives are great things to send over the internet in such a manner, but money, nah, who would ever want that capability? Pff.

Anonymous Wed Feb 26 05:27:21 2014 No.142100

>>142065

If you can *easily* cash out, you are doing fine. It's still worthless as a currency, but there's nothing wrong from taking gain from scrap.

>>142067

Well said.

>>142070

Very well. Then I ask:

Have dollars ever been stolen?
And how many people have gone to jail for stealing dollars?

How many btcs have been stolen?
How many people have gone to jail for stealing btcs?

Even the Justice dept/FinCEN can't be bothered until it involves real cash.

Anonymous Wed Feb 26 05:30:21 2014 No.142112
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>>142100
you can cash out easily, coinbase is just as easy to use as paypal. the cash is in your bank account in 2-3 business days.

if you live in canada or texas, there are ATMs which let you withdraw immediately and they give you cold hard cash. that "hurr durr you can't cash out" meme died 3 years ago.

Anonymous Wed Feb 26 05:30:21 2014 No.142113

>>142089
It better should. But whatever cryptocurrency wins at the end - it won't be bitcoin.

Right now, about a third of all bitcoins is held in 500 wallets. Add to this all lost bitcoins.

And losing them is easy. Hard drive breaks down, some retard "cleans" off your virus by reformatting, you forget the password, gox runs off with them... you name it.

And when you lost them, the network won't ever know. We don't even know how many bitcoins still exist right now.

And if you want widespread adoption? The price would have to go through the roof for that many users... making widespread adoption unlikely, because a currency that discourages spending won't work as a currency.

>>	Anonymous Wed Feb 26 05:33:21 2014 No.142118 >>142100 >It's still worthless as a currency it has it's use, as a tool for securely moving money from one point to another. the actual exchange rates of bitcoin are irellevant to this.

Anonymous Wed Feb 26 05:36:21 2014 No.142131
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>>142051
It's like this guy has absolutely no idea how the world works outside of his own immediate experience. His amount of fud is record-breaking. All of the dumbest and least true myths are packed in so tightly, everything from numbers not being real things to never being able to cash out at all even though it was only two exchanges that had any problems at all. Then he mistakenly calls crypto by the letters VC, which is a well known diversion tactic that merchant bankers like to use. It makes you think of those two letters as not reffering to the hundreds of millions being poured into making software and websites to facilitate the growth of bitcoin.

We call it crypto, grandpa, not VC, and there is plenty of "actual business" being done right now in the form of VC, or venture capital. Also, you better get used to reading about it, because we haven't even reached the tipping point yet.

>>	Anonymous Wed Feb 26 05:36:21 2014 No.142134 >rfw you remember 1000 btc block used to be sold for five dollars a pop life truly isn't fair.

>>	Anonymous Wed Feb 26 05:36:51 2014 No.142132 >>142118 >securely Did you mean: secretly?

Anonymous Wed Feb 26 05:40:50 2014 No.142139
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>>142067
>Whenever "being rational" turns into something negative

Anon never said "being rational". Being rational means that you have made valuable and correct decisions that make sense. This is not the same as "rationalizing", where one makes incorrect assertions that are out of line with reality.

Thank you for playing the merchant banker game of semantics. Sorry, you lost :(

Anonymous Wed Feb 26 05:44:51 2014 No.142152

>>142089

Good. Then maybe it will be an actual currency. But again, we are talking about 'someday'. It's always talk and talk about the future because in the here and now, this shit is hardly ready for prime-time.

And since I have no interest in becoming a techie to appreciate and innovate gadget ideas like btc because I dont have to, I have no use for it. I can use a smartphone without knowing how to build one. Thats why smartphones are a success and btc is still a steaming pile of shit.

Dont try to sell me a betamax and tell me it's Blu-Ray, and then complain because I don't wanna share an hour discussion about future possibilities or 'appreciate' the technology.

"Ease of use" defines currency. Defines it. Without ease of use, you got a bag of shit and have the fucking nerve to resent people who dont want to pay actual money for it.

>>142097

You are exactly right. I remember it very clearly. And you know why? Because it was utter shit.

Get it through your fucking heads- people aren't interested in shit for its own sake. It has to have value. If people can do fine without something, they will. Most people have no interest in taking on technological skillsets just so some techie can feel useful for finding a longer more convoluted way to do something no one needs.

Thats the whole fucking point of product development, and btc currently sucks. Theres no ground floor to get in on because it remains riddled with incompetence, perhaps even in concept. So lets discuss that for 20 years on imageboards, because thats the visible future of it.

Consider: I am pissed that I wasted time on learning about it though I lost no money. You are pissed because I dare criticize something you claim is valuable. Add that up...

>>	Anonymous Wed Feb 26 05:45:21 2014 No.142155 >>142152 >more bullshit rationalization >muh why isn't it perfect on day 1 >muh if it's not perfect now then it's worthless dipshit, if bitcoin had widescale adoption at the level you're thinking of, it'd be above a million dollars per coin.

Anonymous Wed Feb 26 05:46:21 2014 No.142156

>>142100
California just made it legal tender in a new bill that will take effect soon. Germany has deemed it private money. It so painful that we are right in the middle of theft cases being taken seriously. Bitcoiners are hiring lawyers and working with regulators day and night to get all of this ironed out, and they are making great strides and breaking through seemingly impossible barriers repeatedly. The legal precedent will be set very soon. It is real money whether you like it or not, and it has only become relevant to government as such in the last six months. Just give them another year and you'll be amazed. You would be amazed right now, but you do not seem to be paying much attention to bitcoin.

Anonymous Wed Feb 26 05:46:51 2014 No.142158

So as far as I can make out, it's like this;

There's nothing inherently faulty or to blame with Bitcoin itself, it's protocols, or anything else, but just with this incompetent exchange which everyone surrended control of their wallets to then fucked everything up.

Is this accurate?

>>	Anonymous Wed Feb 26 05:51:20 2014 No.142168 >>142158 kind of but there's two camps to it. about 90% believe karpeles was just plain incompetent, another 5% believe he was performing outright fraud and making shitcoins out of nothing for sale, and another 5% believe it was a combo.

>>	Anonymous Wed Feb 26 05:51:21 2014 No.142167 >>142158 >There's nothing inherently faulty or to blame with Bitcoin itself, it's protocols Of course there's something wrong with the protocol. Cryptoniggers will try to deny it though; got to keep that train rolling.

Anonymous Wed Feb 26 05:52:51 2014 No.142170
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>>142152

Now I have email. I still generally consider it as worthless as the email I get from people too damn stupid to use the phone to use less effort and time to communicate the same thing, same with texts.

And generally, people are lousy at communication anyways. I suffered dozens of people who wanted to show me they can email with either nothing to say or no fucking brains to dialogue with anyways. I use it less and less than before, not more. To put it bluntly, most people aren't worth a piss to waste time with it.

And yeah, 20 years ago, you know who wanted me to use email so badly? My girlfriend. She kept sending me emails I never bothered reading, and never did. You know why?

Because I owned a phone and lived 8 rooms away. It was fucking people like her that would've thought btc was just amazing no matter how worthless or inefficient. Female thinking.

And I've wasted enough time on this. Time for breakfast. Have a pic of the average btc shill

Anonymous Wed Feb 26 05:53:52 2014 No.142176

>>142167
there's nothing wrong with the protocol. it's impossible to steal coins unless you're a fucking retard like mtgox.

the reason they were retarded was they refunded coins AUTOMATICALLY. note how they were really the ONLY exchange that got coins stolen from them due to tx malleability (the other exchanges went down temporarily due to a wallet bloat DDoS attack which was quickly resolved).

>>	Anonymous Wed Feb 26 05:54:51 2014 No.142178 >>142112 >cash is in your bank account in 2-3 business days >2-3 business days Jesus christ. I give up. Have a good day.

Anonymous Wed Feb 26 05:56:21 2014 No.142184

>>142168
i think the highest likelihood is because they split their cold storage wallet using Shamir's Shared Secret and some of those split keys were in a safe deposit box which were confiscated by the feds.

karpeles can't say that because then the feds would know they have him by the fucking barrel because he needs those keys back from the feds.

if his coins were actually stolen, they would publish the txids of the stolen coins.

>>	Anonymous Wed Feb 26 05:57:21 2014 No.142192 >>142178 guess you don't use the stock market then. because if you sell stock and want to move it to your bank account, they'll wait 3 business days. https://en.wikipedia.org/wiki/T+3

>>	Anonymous Wed Feb 26 05:57:21 2014 No.142193 >>142176 A currency that requires advanced programming knowledge to be fool-proof is not a viable alternative to traditional currency. This should be pretty obvious to anyone but apparently we need to spell it out for you.

Anonymous Wed Feb 26 05:58:22 2014 No.142198

>>142152
What I am actually pissed at is your obvious lazy-mindedness of predicting anything in the future. We repeatedly tell you killer app cases for bitcoin and you just blow it off and act like your stubbornness is exactly how most people respond to bitcoin. When they see how it works, the word is usually "cool", something you stopped understanding about fifty years ago. As for "ease of use", do you have any idea how many hoops you are jumping through just to use a credit card or western union? I know you've gotten used to all that bullshit paperwork, but you are going to be forced to kiss all that buy in a few years.

Fact is that we have not seen anywhere near the maximum level of adoption or price, yet, and we know this because the long term pattern of price is still very much growth, and the venture capital and business end of things has been growing non-stop without a single hiccup. You can look at the metrics and clearly see that the rate of investment into infrastructure has only sped over time.

Don't worry, you can still buy in before it permanently goes over $1k

Anonymous Wed Feb 26 05:58:51 2014 No.142196

>>142193
it's not advanced programming knowledge. it's common sense, you don't give customer funds without auditing, their problem was in their accounting PROCESS.

secondly: the SWIFT protocol is WAY more complicated than bitcoin, nobody actually understands it.

>>	Anonymous Wed Feb 26 05:59:22 2014 No.142199 >>142193 Yeah man, major national banks have their networks programmed by monkeys on crack. That's the miracle of paper fiat money, it's invulnerable to shotty code and scammers.

>>	Anonymous Wed Feb 26 06:01:51 2014 No.142208 >>142167 >calls people niggers Yeah, we got a real Donald Trump here fellas. Let's gather round and find out how to get rich.

>>	Anonymous Wed Feb 26 06:01:51 2014 No.142211 File: 56 KB, 563x579, 1392490104606.jpg [View same] [iqdb] [saucenao] [google] >>137658

>>	Anonymous Wed Feb 26 06:04:50 2014 No.142223 >>142192 People don't use the stock market as a personal bank account.

Anonymous Wed Feb 26 06:05:21 2014 No.142230

>>142223
??? the transaction for BTC->USD is a foreign exchange transaction. T+2 is the standard for forex transactions. T+3 is for equities.

BTC->BTC transfers are broadcasted instantly and locked in within 1 hour. 1 hour may seem like a long time, but credit card transactions are broadcasted immediately but locked in (settled) in 45 days.

>>	Anonymous Wed Feb 26 06:05:51 2014 No.142229 >>142132 no, i mean securely. security of the bitcoin network had never been compromised. definitely not secretly, because every transaction is public.

>>	Anonymous Wed Feb 26 06:06:21 2014 No.142231 >>140929 Couldn't have said it better.

>>	Anonymous Wed Feb 26 06:07:44 2014 No.142233 >>142230 (technically you can consider it an OTC commodity transaction too, but this isn't about definitions...)

>>	Anonymous Wed Feb 26 06:08:14 2014 No.142238 File: 419 KB, 741x3443, to_the_moon[1].jpg [View same] [iqdb] [saucenao] [google] >>142152 >someday buckle up grandpa!

Anonymous Wed Feb 26 06:08:44 2014 No.142236

>>142170
>Email sucks because I have dumb friends that use it
>Me using it less is an indicator that it is becoming less popular
>Email is good if you are female thinking

It is amazing how over 90% of the people at the conferences are male right now, exactly like most technology in silicon valley. So you think they are all transvestites or transsexuals? And we've covered this already, but you have no idea what is cool or will grow and become bigger in the future. Just go ahead and give us your best shot at what new technology will stick around.

I still love your reasoning, same as before just with more useless words. No wonder you hate email, your writing makes you look stupid. I really hope you are having fun trolling.

>>	Anonymous Wed Feb 26 06:11:14 2014 No.142242 File: 3 KB, 128x128, 1295603656624.png [View same] [iqdb] [saucenao] [google] Who's ready to buy a load once the general public start selling for no reason?

>>	Anonymous Wed Feb 26 06:12:44 2014 No.142246 >>142242 anon, I'm sorry to tell you but that may have already happened last night. we're already above the price BEFORE mtgox got shut down.

Anonymous Wed Feb 26 06:13:14 2014 No.142250

>>142184
>if his coins were actually stolen, they would publish the txids of the stolen coins.

Lets go Alex Jones mode for a second.

What if they aren't stolen by people who have hacked MTGox, but they've been stolen BY MTGox and the reason they wont show the txids is that they BTC hasn't even been transferred anywhere else?

Anonymous Wed Feb 26 06:14:14 2014 No.142255
File: 194 KB, 1011x801, redpill-green.png [View same] [iqdb] [saucenao] [google]

>>142250
if you're going to go full alex jones, then you would think mtgox is an arm of the US government and they're interested in accumulating as much bitcoin as possible, and that silkroad was a CIA op to collect coins as well.

>>	Anonymous Wed Feb 26 06:15:14 2014 No.142260 Family friend of mine had 30btc in MtGox, bought at $100/coin. She's fucked then?

>>	Anonymous Wed Feb 26 06:17:44 2014 No.142262 >>142255 You went full Alex Jones, man. Never go full Alex Jones.

>>	Anonymous Wed Feb 26 06:18:14 2014 No.142267 >>142260 99.9% fucked, yes. Barring an actual miracle.

>>	Anonymous Wed Feb 26 06:19:14 2014 No.142268 >>142242 >once the general public start selling for no reason? not gonna happen, since the general public mostly used gox. death of gox is the best thing to happen to the btc market, because it removes the panicky noobs out of the equation.

>>	Anonymous Wed Feb 26 06:22:43 2014 No.142285 >>136117 Andrew Ryan/10

>>	Anonymous Wed Feb 26 06:23:13 2014 No.142288 >>142268 >it removes the panicky noobs out of the equation. But they were the easiest to make money off

>>	Anonymous Wed Feb 26 06:24:14 2014 No.142292 Anyone here think there maybe a legitimate possibility that some extremely angry people may actually want him dead and take measures to achieve that outcome. ie. Some angry drug dealer(s) who for whatever reason had Bitcoin in large amounts in MTGox?

>>	Anonymous Wed Feb 26 06:24:44 2014 No.142289 https://www.mtgox.com/ Updated

Anonymous Wed Feb 26 06:25:14 2014 No.142293

>>142289
February 26th 2014

Dear MtGox Customers,

As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.

Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.

Sincerely,
Mark Karpeles

>>	Anonymous Wed Feb 26 06:26:14 2014 No.142297 >>142292 >(ID: HitxZW2T) Oh boy, here come the hitmen.

Anonymous Wed Feb 26 06:27:13 2014 No.142303
File: 53 KB, 611x404, btc.jpg [View same] [iqdb] [saucenao] [google]

>>142192

You are talking about investments. I was talking about currency. Maybe you need to look up what currency is because I am clearly not getting through.

>>142198

>you can still buy in

Only the dead will know peace from these shills.

>>142236

>but you have no idea what is cool or will grow and become bigger in the future

When I can use VC like my credit card anywhere, then I will call it currency. When it truly is fast and secure, I will be it's biggest evangel. Until then, its betamax. You think someone will get rich off of it, and thats great. More power to them. I have no interest in it as an investment, it simply doesn't pass numerous tests. I have no use, literally, for it as a currency because it isn't one.

It's interesting. I'll give it that. Otherwise I wouldn't be talking about it. But interesting isnt useful, and potential isnt reality. And wild speculation isn't a tool I use for investments. Volatility like this is meant for neither currency nor investment.

>your writing makes you look stupid

Thats your ad hom warning. I consider it to be the way adults declare they are done discussing something.

Anonymous Wed Feb 26 06:27:13 2014 No.142304
File: 51 KB, 600x449, 1229236740042.jpg [View same] [iqdb] [saucenao] [google]

>>142289
>I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information.

AH YES MARK THANK YOU FRIEND.

>>	Anonymous Wed Feb 26 06:28:44 2014 No.142305 >>142293 nice. and there's still gox.com miracle pls.

Anonymous Wed Feb 26 06:29:44 2014 No.142307

>>142303
i am talking about a currency trade as you pay for something using bitcoin.

T+2 is the standard for FOREIGN EXCHANGE TRANSACTIONS, like you know changing USD to EUR, or USD to BTC. spending or paying with BTC is nearly instant for all intents and purposes.

Anonymous Wed Feb 26 06:30:13 2014 No.142313
File: 327 KB, 1536x885, BITCOIN[1].jpg [View same] [iqdb] [saucenao] [google]

>>132353
Just in case anybody wants to test the dedication of bitcoiners, click on my ID number above and see my other posts in this thread. I read the entire thread and did my best to convey as much useful information/cited sources to accurately answer everything as much as possible.

As usual, most replies in this thread have been outright dismissal of the entire concept of crypto, and usually accompanied by bankster-level misdirection (see calling crypto "VC" as a diversion to the mountains of venture capital funding it is getting right now) and irrelevant insults (who uses the n-word more often). You can add up the logical arguments for yourself and decide who has the correct idea, bitcoiners or nocoiners. It is just way too obvious for me.

>>	Anonymous Wed Feb 26 06:30:14 2014 No.142309 >>142293 Translation: I haven't still finished packing. Please don't kill me.

>>	Anonymous Wed Feb 26 06:30:15 2014 No.142312 Odds on BTC rising back up to $800?

>>	Anonymous Wed Feb 26 06:31:13 2014 No.142316 File: 29 KB, 500x336, lol cat.jpg [View same] [iqdb] [saucenao] [google] >>142293 >>142293 >>142293 >As there is a lot of speculation regarding MtGox and its future...

>>	Anonymous Wed Feb 26 06:33:44 2014 No.142319 >>142289 Dear customers, I totally am not tying to buy time with this announcement and at the moment I am NOT flying to a remote island. Please wait until my fake ID is ready to sue me

>>	Anonymous Wed Feb 26 06:37:15 2014 No.142327 >>140830 physical btc made from tinfoil

Anonymous Wed Feb 26 06:39:44 2014 No.142332
File: 65 KB, 533x600, 533px-RANDI.jpg [View same] [iqdb] [saucenao] [google]

>>142307

Yeah, I'm not really taking anything you say seriously. Least of all, comparing BTC to EUR or forex generally. It should have been obvious 30 posts ago when I wasn't replying to your kiddie shit then either.

Keep posting whatever you like though. It may get read, who knows.

:^) :^) :^)

>>	Anonymous Wed Feb 26 06:40:14 2014 No.142337 >>142293 I don't have money at Gox and I want to punch this faggot's face in.

>>	Anonymous Wed Feb 26 06:41:43 2014 No.142339 >>142332 it's a different currency that is freely exchanged at a floating exchange rate... maybe you're just retarded? :^)

Anonymous Wed Feb 26 06:47:44 2014 No.142345
File: 1.64 MB, 3000x1971, bitcoin11[1].jpg [View same] [iqdb] [saucenao] [google]

>>142303
You continue to play the semantics shell game. Is it a currency, is it an investment, is it a bird, plane, or speeding locomotive? It doesn't matter what you try to label it as because it is something entirely new that the world has truly never seen before. There will be many new words formed to describe it, there already have been some, and eventually somebody will explain it all to you very slowly so you can finally get past the categorization part.

With that out of the way, now we can get to why you sound stupid. Here was your response when I correctly accused you of having no predictive capabilities when it comes to technology adoption:

>When I can use VC like my credit card anywhere, then I will call it currency. [editor's note: he means virtual currency, not venture capital, and he keeps using this diversion tactic over and over, but make no mistake the bitcoin venture capital is flowing in by the hundreds of millions]

It's like you are trying to prove that you can predict the future to some extent by saying that you can't predict the future at all. Once bitcoin is accepted at most places that you personally visit, then you will finally begin to think of it as a useful item, and never a second before that point. You are the definition of an old dinosaur gone completely blind and stuck in an environment where your way of life is slowly going extinct.

If you are going to make any counterpoint, then it has to counter my point. According to your own response, you should be agreeing with me that you have no clue what new technology may ever be adopted in the future and that you are never an early adopter of anything other than football jerseys and bobble-head dolls when your team is in the playoffs. You have already made this very clear and I am just trying to get you to have some integrity and stick to your word.

Anonymous Wed Feb 26 06:47:44 2014 No.142347

>>142313

>As usual, most replies in this thread have been outright dismissal of the entire concept of crypto, and usually accompanied by bankster-level misdirection

Funny thing is...I was exactly like this a year ago, on the other side of the fence pointing and laughing arrogantly. 'munneez made from running a program? lawl niggaplz if i want 2 tha moon I'll just run SETI instead, amirite?'

It wasn't until my friend had a serious sit down with me and introduced me to the actual concept of how it worked, along with the real-world concepts of decentralization, privacy, and counter-inflation...and it made me wonder why I ever fucked around with bullion as an investment in the first place.

Boy. Sure glad I did. Dumped my 400 ounces (which then cost a total of around 13-15k, and dumped it all into buttcoins when they were still hovering around the 2x dollar mark.

Needless to say, life since then has been great. I've sold quite a bit along the way at each stage of the rises and falls, and each time the market just becomes more and more resilient.

The anger stemming from these paleolithic era lemmings now that buttcoin has quickly become one of the biggest ROI's in technological history is both extremely lulzworthy and disturbing.

Instead of putting their hard-earned ragequit into doing something more constructive like catching the train, they instead do nothing but growl as it blazes by their station. Every time.

Bitterfags gonna bitter.

Anonymous Wed Feb 26 06:48:44 2014 No.142350

in all seriousness, i wonder how much of this money was owned by dealers, cartel, rich and powerful, and presumably the yakuza.
this isn't the first time they've been robbed of untold millions, but unlike SR or sheep, isn't it the first time the person's identity is known?
i cannot fathom one single excuse which would get him out of all the shit he's in, not after he's spent so long keeping everyone pissed off and in the dark.
he can't hide from people who rub shoulders with government ministers and the elite and powerful. is there any scenario where this guy is not soon going to be tortured to death?

Anonymous Wed Feb 26 06:56:55 2014 No.142364

>>142313

You have done your best and I respect that. If you believe in it, fine. There's not a damn thing wrong with pursuing dreams. As I said, if potential was reality, I would be it's biggest fan. But you will get resistance until certain problems are resolved, including volatility, as with any virtual currency.

I find pictures of BTC ironic though. They always glitter gold and accurately represent what they are worth. Faith always drives people to make images of what they can't see. Sometimes it is plastic coin props. But usually, it is just dead presidents to associate credibility with little pieces of rag.

>>	Anonymous Wed Feb 26 06:59:25 2014 No.142375 >>142364 They actually do mint physical, limited edition gold bitcoins with the holographic codes on them, you know. >themoreyouknow.jpeg

>>	Anonymous Wed Feb 26 07:00:24 2014 No.142376 >>142350 If I may make a suggestion for those fleeced by this scumbag... You don't need the Yakuza to elicit a useful response from shitbag. You only need the perception of them. And perhaps equal ambition.

Anonymous Wed Feb 26 07:00:25 2014 No.142379

>>142347
>It wasn't until my friend had a serious sit down with me and introduced me to the actual concept of how it worked, along with the real-world concepts of decentralization, privacy, and counter-inflation
oh it hasn't even begun.
https://en.bitcoin.it/wiki/Contracts
https://en.bitcoin.it/wiki/Smart_Property
https://en.bitcoin.it/wiki/Script

bitcoin is turning financial contracts into machine readable code. we're repeating the entire history of money, except electronic. we're at the first stage in the history of money -- the "store of value", we haven't even reached the digital equivalent of 500 BC.

this isn't just programmable money, this is building in rules and contracts into money itself -- this is about an entire adjudication system in the money. if you can build the contract well enough, this is substantially reducing the role of the court systems itself.

this is fucking skynet level shit here, it's hilarious how the haters aren't seeing the fucking amazon rainforest from the trees.

Anonymous Wed Feb 26 07:04:55 2014 No.142391
File: 14 KB, 250x272, stopped.jpg [View same] [iqdb] [saucenao] [google]

>>142345

>it all to you very slowly so you can finally get past the categorization part.
>With that out of the way, now we can get to why you sound stupid

Yeah. No. You were warned. I don't do trolls & kiddies. Discussions over. Bye.

>>	Anonymous Wed Feb 26 07:07:25 2014 No.142411 File: 13 KB, 320x213, 1291606622057.jpg [View same] [iqdb] [saucenao] [google] >>142375 >limited edition I'll bet they are. But no, I didn't know that.

Anonymous Wed Feb 26 07:09:59 2014 No.142414
File: 653 KB, 1600x1600, Titan_One_Silver_Front_1600[1].jpg [View same] [iqdb] [saucenao] [google]

>>142364
>plastic coin props

Actually those were brass minted Casascius bitcoins. They can be used in that form if somebody will accept them, or you can transfer their value into your own wallet. They also make one ounce silver bitcoins, of which I own a few (pic related).

Problems with bitcoin are being solved so quickly that it is hard to keep up. Everything from decentralized exchanges and one-click shopping are already implemented in early stages. It is hard to keep up with all the news, and I know this because I spend hours per day reading about it. I have been speculating on future technology my entire life, and nothing has even come close to the world changing impact that bitcoin will have in the next few years. My part is to try and learn as much about it and convey that information accurately. I can tell by the changing tone of the general posting in this thread and on this board that my efforts are not a waste. For now this is still a bit of a dream, but it might come true, and my dedication for this to occur is not uncommon.

Anonymous Wed Feb 26 07:11:28 2014 No.142417

>I lost about 19.1 BTC But it gets better.... Just minutes before mtgox froze transactions I spoke with a woman I had slept with and she told me that she might have Chlamydia and I should go get tested.

>100% truth. I created an account on reddit just to share my story, seeing as it's almost so funny that I have to laugh!

>The BTC was pretty much all of my long term savings. I still have enough money to survive and pay for my Chlamydia treatment! Ha!

>>	Anonymous Wed Feb 26 07:12:58 2014 No.142421 >>142391 >somebody calls me stupid >stopped reading >>>reddit

>>	Anonymous Wed Feb 26 07:19:28 2014 No.142436 >>142379 Shut up Cassandra, if you know so well wat's going to happen then you should also know why our reaction is correct

>>	Anonymous Wed Feb 26 07:25:45 2014 No.142454 File: 41 KB, 1465x311, spike.png [View same] [iqdb] [saucenao] [google] So I won't lie, I don't know much about this bitcoin stuff, is there a reason for this very cheap price spike?

Anonymous Wed Feb 26 07:35:44 2014 No.142488

>>142454
Yes, that was Mr. 102 on BTC-e. I was in the trollbox when it happened. Never seen anything like it before in my life. The entire buy order book dissapeared instantly. I thought the exchange had glitched out and was about to go down. I took all my coins out immediately and only have a tiny amount still stored at the exchange.

The downspike was actually just one giant sell order of 4000BTC that was processed all in one second. Somebody either took their million dollars and ran or they placed the order in the wrong box, which would be the mistake of a lifetime.

>>	Anonymous Wed Feb 26 07:35:44 2014 No.142489 File: 119 KB, 499x570, tee se itse mike siren photo.jpg [View same] [iqdb] [saucenao] [google] ALL IS LOST

>>	Anonymous Wed Feb 26 07:37:14 2014 No.142503 >>142488 I see. There's a similar spike on the same date on bitfinex

>>	Anonymous Wed Feb 26 07:38:14 2014 No.142504 >>142489 You underestimate the infinite stupidity of bitcoin users. It will bounce back.

Anonymous Wed Feb 26 07:38:44 2014 No.142507

>>142488
i don't know why not many figured this out, but what happened was they had a flash crash due to their metatrader engine. btc-e allows leveraged trades, so some of the leveraged longs got margin called, which cascaded into more margin calls.

when their metatrader order book fills up again in a couple months, i expect this to happen again...

>>	Anonymous Wed Feb 26 07:54:14 2014 No.142540 >>142156 >California just made it legal tender I can only assume that you don't have a clue what legal tender means.

Anonymous Wed Feb 26 07:55:45 2014 No.142547

>>142503
There was a message in the trollbox saying that they were done with BTC and had been along for the ride with 7,000 coins for a while. They might have been telling the truth and just did a split firesale between the two biggest USD/BTC exchanges that were still processing withdrawals.

This response:
>>142507
could explain what happened on either exchange, but for it to happen on both within a few seconds just feels like Mr. 102 did a double dump of everything and ran.

>>	Anonymous Wed Feb 26 07:57:43 2014 No.142557 >>142540 Whoops, currency not legal tender.

>>	Anonymous Wed Feb 26 09:14:14 2014 No.142810 File: 981 KB, 320x240, CE8Bp.gif [View same] [iqdb] [saucenao] [google]

Anonymous Wed Feb 26 09:24:14 2014 No.142842

>>142547
>There was a message in the trollbox saying that they were done with BTC and had been along for the ride with 7,000 coins for a while. They might have been telling the truth and just did a split firesale between the two biggest USD/BTC exchanges that were still processing withdrawals.

Why do more people not do this? You can either gamble on an unstable "currency" with lots of competitors (with better technology), including the chan-backed Doge and the Google-backed Ripple...

...or you can have a million actual dollars in your hands right now, with which to buy things like cars, houses, investments, and the ability to never work again in your life if you know what you're doing.

I bet the guy who bought BTC for 200 was tickled pink that he could instantly sell it for more than twice that.

Anonymous Wed Feb 26 09:31:14 2014 No.142864
File: 54 KB, 608x349, HK%20JPM%20trader%201[1].jpg [View same] [iqdb] [saucenao] [google]

>>142810
You did hear about 6 bankers having committed suicide in the last few weeks, with two or three jumping off the buildings of the largest banks, right? Is this what you were referring to: http://nypost.com/2014/02/18/jpmorgan-bankers-suicide-is-3rd-mysterious-death-for-company/

They can see their system stealing money every day from poor people and they live as crooks. Not all of them are theives, but the stereotype of the sociopath banker is totally true, and lately a lot of them have been cracking up and jumping.

Something really bad must be happening behind the scenes right now.

Anonymous Wed Feb 26 09:31:44 2014 No.142862

>>137999

I can't understand how people think /pol/ is filled with retards. We are a board of white nationalists. The white race has been empirically proven as the most intelligent race of our species. How can we be retards if we are all red-pulled on the Jewish hold over the world and if we are part of the master race?

Anonymous Wed Feb 26 09:38:44 2014 No.142889

>>142864
It seems indicative of the culture in which they surround themselves, it's like it breeds mental illness. If someone genuinely feels so guilty in engaging in someone for so long that they can't do it any longer, why on earth not just quit then compel yourself to do someone that will really make a positive contribution and right their previous wrongs?

That's how a rational person should go about things, but they're mentally ill / psychologically scared it appears.

>>	Anonymous Wed Feb 26 09:40:44 2014 No.142897 >>142862 >ashkenazi jew has been empirically proven as the most intelligent race of our species. fixed that for you, stormweenie :^)

>>	Anonymous Wed Feb 26 09:43:14 2014 No.142908 >No one involved in Bitcoin knows what hyperdeflation is >no one talking about bitcoin is concerned about the effect of removing 6%+ of the coins on top of horders

Anonymous Wed Feb 26 09:45:14 2014 No.142914

>>142862
>I can't understand how people think /pol/ is filled with retards.
nor will you ever. but this thread isn't about that

have some m:tgox news:

>Dear MtGox Customers,

>As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues.

>Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates.

>Sincerely,
>Mark Karpeles

>>	Anonymous Wed Feb 26 09:48:44 2014 No.142926 >>142908 >please buy my worthless coins

>>	Anonymous Wed Feb 26 09:49:14 2014 No.142934 >>142908 >coin removed from hoarders >hoarders The effect is close to zero.

Anonymous Wed Feb 26 09:49:44 2014 No.142932

http://www.reuters.com/article/2014/02/26/us-bitcoin-mtgox-japan-idUSBREA1P0D820140226

Japan authorities looking into closure of Mt. Gox bitcoin exchange

Japanese authorities are looking into the abrupt closure of Mt. Gox, the top government spokesman said on Wednesday in Tokyo's first official reaction to the turmoil at what was the world's biggest exchange for bitcoin virtual currency.

"At this stage the relevant financial authorities, the police, the Finance Ministry and others are gathering information on the case," Chief Cabinet Secretary Yoshihide Suga told a regular news conference when asked about Tuesday's shutdown of the Tokyo-based exchange.

Speaking shortly after The Wall Street Journal reported that Mt. Gox had received a subpoena from federal prosecutors in New York, Suga declined further comment.

Japan's Financial Services Agency and Finance Ministry told Reuters on Tuesday that they do not have jurisdiction over Mt. Gox after the exchange's website went down and efforts to reach company officials failed. The Bank of Japan said it had nothing to add to a comment by Governor Haruhiko Kuroda that the central bank was "very interested" in bitcoin.

Mt. Gox later posted a statement on its site saying it had halted "all transactions for the time being in order to protect the site and our users."

(continues...)

Anonymous Wed Feb 26 09:50:15 2014 No.142941

>>142932
Mt. Gox CEO Mark Karpeles told Reuters in an email: "We should have an official announcement ready soon-ish. We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties." He did not elaborate on the details or give his location.

(Reporting by Kazuhiko Tamaki; Writing by William Mallard; Editing by Dominic Lau)

>>	Anonymous Wed Feb 26 09:53:44 2014 No.142952 >>142934 But why?

>>	Anonymous Wed Feb 26 09:54:17 2014 No.142953 >>142952 They wouldn't have spent that coin ever.

>>	Anonymous Wed Feb 26 09:56:46 2014 No.142959 >>142953 That's the point of deflation though, people stop spending and start hording. What costs 10 bitcoin today costs 5 next week, and it keeps subdividing even though the total supply is limited.

>>	Anonymous Wed Feb 26 09:57:46 2014 No.142961 >>142959 How is deflation supposed to be good?

2DAMOON! Anonymous Wed Feb 26 09:58:15 2014 No.142963
File: 153 KB, 446x746, 1362336860402.jpg [View same] [iqdb] [saucenao] [google]

>>142810
>LUIGI IS FIAT BANKS. WITH INSURANCE, REGULATION, ZERO LIABILITY FRAUD POLICIES, ELECTRONIC TRANSACTION TRANSPARENCY IE NON-ANONYMITY AND LEGAL RECOURSE

SEE WHAT HAPPENS /biz/?
THIS IS WHAT HAPPENS WHEN YOU LISTEN TO /pol/

MINERS ARE OK, THEIR RIGS STILL HAVE VALUE, THEY JUST BLEW MONEY ON ELECTRIC

BUT BUYERS, INVESTORS IN CRYPTO WERE AND CONTINUE TO BE LITERAL SUCKERS IN A PURELY SPECULATIVE MARKET RUN IN AN ENVIRONMENT OF GET RICK QUICK FRAUDSTERS

>OH MY STOCK PORTFOLIO WENT DOWN THIS WEEK
>OH MY BITCOIN EXCHANGE RAN OFF WITH EVERYONES MONEY AND WE CAN'T DO SHIT ABOUT IT

THE PROBLEM IS /pol/ GOADS PEOPLE INTO GIVING UP THEIR FINANCIAL PROTECTIONS AND PUTTING EVERYTHING INTO CRYPTO KNOWING FULL WELL THEIR SUCKERS HAVE NO GRASP OF RISK CAPITAL AND CAN'T AFFORD TO LOSE SHT

>>	Anonymous Wed Feb 26 09:58:16 2014 No.142966 >>142961 It's not a good thing, I was wondering why you said the effect of hording was close to zero.

>>	Anonymous Wed Feb 26 09:58:16 2014 No.142969 >>142959 What? You mean that a deflationary "currency" can't work, even in principle, because you could theoretically get rich just by sitting on it instead of using it to make investments in the production of goods and services?

>>	Anonymous Wed Feb 26 10:03:46 2014 No.142981 >>142963 That's the point.

>>	Anonymous Wed Feb 26 10:05:45 2014 No.142991 >>135278 aaand its bouncing back

>>	Anonymous Wed Feb 26 10:09:45 2014 No.143016 >>138258 >High risk high reward? There's a difference between high risk and high retard

>>	Anonymous Wed Feb 26 10:29:16 2014 No.143122 >>132353 Have any conspiracy theorists written up a thing on the "coincidence" between the timing of the creation of this board for containment and the MtGox debacle?

>>	Anonymous Wed Feb 26 10:31:47 2014 No.143140 To be fair, anyone who listens to libertarians and puts everything they own into this obvious scam is an idiot who deserves to have his life ruined.

Anonymous Wed Feb 26 10:33:47 2014 No.143153

I'd been waiting to pick up some bitcoin for months. When it went over $1k it looked like a bubble to me. So I watched it come down, then waited for the next round of bad news to hit. When the Mt.Gox news hit and it dipped under $500 I bought. Since then it's held steady with me up 10-15%,

Mt thinking is as follows: bitcoin goes up after a blitz of media coverage. So far all this doomsaying hasn't pushed the value below $400. It's either going to tank or go back up when the storm has passed.

But I don't think I'm being stupid. Something this volatile is basically a lotto ticket, so I only invested money I could afford to lose. Play money. And my play is that bad news makes for a good time to get in.

>>	Anonymous Wed Feb 26 10:36:47 2014 No.143171 >>143122 >yfw it was moot all along Mother of God.

Anonymous Wed Feb 26 10:49:47 2014 No.143233
File: 28 KB, 568x373, 1387612130783.jpg [View same] [iqdb] [saucenao] [google]

>>138232
CAN YOU SHORT UNDERLYING BUTTCOIN YET
YOU'D STILL HAVE TO TRUST SOME SKETCH ASS EXCHANGE FOR LONGER THAN 5 MINUTES

MOUNT FAGGOTSTAMP-E CRYPTOTRADINGS SITE RUN BY VLADIMIR THE DRUGMAFIA CP LAUNDERER LIVING IN CHINA

TRUST HIM, DON'T WORRY HE WON'T COMMINGLE YOUR FUNDS, UNTIL THE MAGICAL ANONYMOUS HACK ATTACK(THAT TOTALLY WASN'T HIM) WHICH FORCES HIS EXCHANGE TO BECOME INSOLVENT SORRY GUYZ XD

I WOULDN'T GIVE THOSE CRYPTO EXCHANGE RANDOMS MY DOX OR MY DOSH

OTHERWISE, CFDS ARE ALLOWED IN YUROP, SOME DEALERS ARE REPUTABLE. FOR AMERICA IF WINKLEVOSS ETF IS UP YET, COULD PROBABLY SHORT THAT

>>143153
>IMPLYING THE BAD NEWS IS OVER

>>143171
SATOSHI MOOTAMOTO

Anonymous Wed Feb 26 10:50:47 2014 No.143245

>>143153
That is a wise tactic. The price will stagnate for a while before people calm down and realize Gox was just an exchange, a shitty, shitty exchange, and really matters not at all to Bitcoin itself. In the long term this will actually turn out to be a good thing for Bitcoin. It was a painful lesson for people who trusted MTGox as a company, but we can learn a valuable lesson from all of this: Store your coins in your own wallet, preferably an offline one, instead of trusting shady exchanges with your private keys.

>>	Anonymous Wed Feb 26 10:51:48 2014 No.143249 File: 1.38 MB, 1366x768, forrest gump.png [View same] [iqdb] [saucenao] [google] >>143016

>>	Anonymous Wed Feb 26 10:55:48 2014 No.143270 The path is now open for Google to sweep in with XRP and monopolize the electronic remittance market.

>>	Anonymous Wed Feb 26 10:57:49 2014 No.143284 File: 1.41 MB, 320x168, 1387273813405.gif [View same] [iqdb] [saucenao] [google] >558$ b-but it's a scam! b-but bitcoin is dead! b-but bubble!

>>	Anonymous Wed Feb 26 11:02:49 2014 No.143312 >>143233 Even if the bad news isn't over, there's been a shit ton of it over the last few days, and bitcoin value is almost back to $600. Leads me to think I wasn't the only one waiting for the next round of bad news to throw some play money in.

>>	Anonymous Wed Feb 26 11:03:49 2014 No.143319 >>143284 it was around $1200 on m:tgox

Anonymous Wed Feb 26 11:05:20 2014 No.143329

>>143312
Everyone is throwing play money at it, that's the problem:
http://www.google.com/trends/hottrends#pn=p1

Total supply of coins shrinks because the exchange is shut down and because of seizures over the past few months.

The deflationary speculation is actually so powerful that it pushes the price up even during some of the worst news bitcoin has ever seen packed into one week.

Anonymous Wed Feb 26 11:05:49 2014 No.143325
File: 2.68 MB, 320x176, 1380882192959.gif [View same] [iqdb] [saucenao] [google]

>>143270
>GOOGLE DID MT GOY

BUT WAIT APPLE IS DOING E-WALLETS AUTHED BY THE FINGERPRINT SCANNERS IN ALL THEIR IFONES

>APPLE AND GOOGLE DID MT GOY

DON'T FORGET THE FEDERAL RESERVE!

>DOUBLE AXEL TRIPLE TOE LOOP CONSPIRACY

>>	Anonymous Wed Feb 26 11:10:50 2014 No.143350 File: 38 KB, 299x259, 1283910509319.jpg [View same] [iqdb] [saucenao] [google] >>143233 >YOU'D STILL HAVE TO TRUST SOME SKETCH ASS EXCHANGE FOR LONGER THAN 5 MINUTES I shat myself laughing.

>>	Anonymous Wed Feb 26 11:13:19 2014 No.143364 >>143350 i particularly enjoyed "mount faggotstamp"

Anonymous Wed Feb 26 11:15:49 2014 No.143374
File: 1.91 MB, 192x240, 1250331580906.gif [View same] [iqdb] [saucenao] [google]

>>143233

>MOUNT FAGGOTSTAMP-E CRYPTOTRADINGS SITE RUN BY VLADIMIR THE DRUGMAFIA CP LAUNDERER LIVING IN CHINA

>TRUST HIM, DON'T WORRY HE WON'T COMMINGLE YOUR FUNDS, UNTIL THE MAGICAL ANONYMOUS HACK ATTACK(THAT TOTALLY WASN'T HIM) WHICH FORCES HIS EXCHANGE TO BECOME INSOLVENT SORRY GUYZ XD

omfg I kept reading and it got even better

>>	Anonymous Wed Feb 26 11:17:19 2014 No.143385 File: 350 KB, 500x344, 1344240386783.gif [View same] [iqdb] [saucenao] [google] >>143364 I was lolling so hard I posted before I even got to that. I can somewhat type now but I still have tears of laughter

Anonymous Wed Feb 26 11:22:19 2014 No.143412

>>143329
>The deflationary speculation is actually so powerful that it pushes the price up even during some of the worst news bitcoin has ever seen packed into one week.
I just read this to my wife, and she said, "It's like 9-11 causing NYC real estate prices to go up."

>>	Anonymous Wed Feb 26 11:23:19 2014 No.143415 >>143153 Trufax. I bought in at 550. Put in $100usd. That's all I can afford to lose, but if I get some return, that's cool too.

>>	Anonymous Wed Feb 26 11:25:49 2014 No.143433 FUCK GO BACK DOWN TO 550 SO I CAN BUY A FEW MORE BTC PLEASE >tfw tomorrow it might be at 650 and ill be kicking myself in the dick >tfw it might also be 450 and ill be kicking myself in the dick for almost buying in FUUUUCK

>>	Anonymous Wed Feb 26 11:27:50 2014 No.143440 >>143433 >buy in >if it goes up I sell >if it goes down I buy in for more I'm enjoying this

>>	Anonymous Wed Feb 26 11:34:19 2014 No.143476 File: 10 KB, 496x452, unnamed.jpg [View same] [iqdb] [saucenao] [google] >>132353 >mfw i was smart enough to stay the fuck away from Bitstein coin

>>	Anonymous Wed Feb 26 11:36:49 2014 No.143494 >>143476 Tfw you were too stupid to buy in when it was under $1/coin Who's the retard now?

>>	Anonymous Wed Feb 26 11:41:48 2014 No.143519 >>143494 > tfw i had (at current value) £350,000 worth of coins. > cost me like £600 at time > spent it all on weed > up to 5 btc per gram

>>	Anonymous Wed Feb 26 11:54:48 2014 No.143585 Does anyone here use coinbase? How fast can I authorize a 2 BTC purchase on a new account? Wondering just incase that shit drops on another low hump, I might actually buy in.

Anonymous Wed Feb 26 11:59:50 2014 No.143609
File: 115 KB, 649x609, zz dau.jpg [View same] [iqdb] [saucenao] [google]

>>143494

There were a lot of things that were magically cheaper before they weren't. That doesn't make people who bought them geniuses, especially in regard to something that has no actual value, especially when said object just lost half it's trading price one bungle after another.

This whole thread is shill doing damage control. I've seen it before. It's like when gold fell off from 1900. At 1300, there are still morons who bought over 1500 still claiming it is a great near term investment. Perhaps they are right if you can afford a dumptruck full of it and like watching graphs all day. For people not looking to leverage to the hilt with bullshit, not so much.

You can't argue with shills because they are shills. They want you to trade your real money for their shit, and I dont even think its necessarily about saving their crap. It's just denial, infantile denial that it's garbage.

If someone bought it at $1 and can actually cash out, great. Then what the fuck are they doing here trying so hard to prop up this garbage.

************

Bitcoin shills do two things consistently: talk about the past and talk about the future. In the middle is reality and nothing pisses them off more than suffering the observations by the sane while it is occurring.

>>	Anonymous Wed Feb 26 12:08:19 2014 No.143668 >>143609 >no actual value Lmfao. Enjoy getting raped by your endeared kleptocrats and 'monetary sovereignty'

Anonymous Wed Feb 26 12:10:49 2014 No.143685

>>143585
Verification of a new account takes a day or two. (They link to your bank account, drop a few cents in your coinbase account, you give them back those few cents, and then your account is legit). Once that's done you can authorize transactions instantly. But if you want your wallet to instantly receive bitcoin you have to link your credit card as well. Otherwise you buy at the price the moment you authorize the transaction, the money comes out of your account a day or two later, and the coin goes into your wallet a day or two after that.

>>	Anonymous Wed Feb 26 12:12:19 2014 No.143691 >>143668 yeah, when the NYSE takes the money and runs, and everyone on it is completely fucked with no recourse, i'll whistle until then, bitcoin will remain a laughing stock, so sorry

>>	Anonymous Wed Feb 26 12:14:19 2014 No.143708 >>143585 4 days. I'm pretty sure you get the price locked in when you actually press buy though, and the wait is just to authorize funds. someone correct me if I'm wrong

>>	Anonymous Wed Feb 26 12:16:49 2014 No.143720 >>143708 >4 days. christ, why are most places so slow? bitbargain takes literally 1 minute.

>>	Anonymous Wed Feb 26 12:17:19 2014 No.143730 >>143720 They don't want to get fucked after you move the funds out of your bank account and they don't get paid. You can add a Visa card and it goes through instantly though.

>>	Anonymous Wed Feb 26 12:19:19 2014 No.143738 >>143685 How long does that take on BTC-e?

>>	Anonymous Wed Feb 26 12:19:48 2014 No.143742 >>143312 I wish I had some spare money to buy some BTC back when it was ~$470 yesterday. Instead I just had to pretend.

>>	Anonymous Wed Feb 26 12:27:19 2014 No.143806 >>140929 >it showed up in his wallet instantly with a 256-bit encrypted note attached as a contract The note isn't actually part of the block chain, though.

>>	Anonymous Wed Feb 26 12:27:49 2014 No.143804 File: 32 KB, 450x300, 1392796143263.jpg [View same] [iqdb] [saucenao] [google] >>143691 keep laughing

>>	Anonymous Wed Feb 26 12:32:39 2014 No.143841 >>138155 >>500$ >>Cheap Today's price:$577.82 kek.

>>	Anonymous Wed Feb 26 12:37:39 2014 No.143873 >>143742 I didn't catch the lowest part of the dip, but got in under $500. Just under. Expecting to see $600 by the end of today, if the media keep jabbering on about it.

>>	Anonymous Wed Feb 26 12:38:39 2014 No.143881 >>143804 i will, thanks funny how none of your dire predictions ever turn out to be right, and yet here we are watching yet another one of mine come true

>>	Anonymous Wed Feb 26 12:40:08 2014 No.143897 File: 411 KB, 200x115, 1346526659313.gif [View same] [iqdb] [saucenao] [google] >>143668 >kleptocrats Do you even know what thread you are in? https://bitcointalk.org/index.php?topic=83794.0

>>	Anonymous Wed Feb 26 12:53:39 2014 No.143985 >>143881 nice argument from anecdote >>143897 stop playing dumb, you know what kleptocrat means

>>	Anonymous Wed Feb 26 12:56:09 2014 No.143999 >>143881 >>143609 This is the highest quality of laughing out loud material, brother. Keep it coming, I'll pay for it instantly using Bitcoins.

>>	Anonymous Wed Feb 26 12:58:09 2014 No.144017 >>143668 So do you live in Indonesia or something? Kleptocracy isn't relevant to the developed world.

>>	Anonymous Wed Feb 26 12:59:39 2014 No.144021 >>144017 I live in the US, try harder m8

>>	Anonymous Wed Feb 26 13:00:39 2014 No.144027 >>144021 So you live in Mississippi?

Zed !ZF41dz6F/Y Wed Feb 26 13:04:09 2014 No.144054
File: 41 KB, 583x278, Mt Goy.png [View same] [iqdb] [saucenao] [google]

>>136666
Not even Satan's Quads can give your meaningless ad hominem shitposting the slightest amount of validity or veracity to convince anyone, least of all me, that VIRCHUL MONIEZ have ever been, or will ever be, anything other than the slow, sure, and inexorable separation of greasy, malnourished, unsanitary Otaku from their sweaty palmfuls of Hourly Wage, nor mask even for a second the glaring elephant-in-the-room fact that the only thing that keeps these sad silly souls doing it is the day-by-day second-by-second decision by the exchange to not fuck each and every one of those sorry bastards to the moon.

But sometimes, they decide the other way.
Pic related, and always will be, no matter how many of these threads ever get made.

/cryptocurrencyendgame

>>	Anonymous Wed Feb 26 13:05:09 2014 No.144065 >>144027 doesn't matter what state, but I'm sure most state and town committeepeople are in it for their own best interest as well

Anonymous Wed Feb 26 13:06:39 2014 No.144067
File: 499 KB, 500x375, 1343023113792.gif [View same] [iqdb] [saucenao] [google]

>>143985
>kleptocrat

I'm sorry. I thought we were talking about rampant massive theft of peoples money by people entrusted with authority and control of the peoples wealth.

I forgot that in the wacky universe of Bitcoin shills, it's only bad when it's authority by government, not private trust.

>>	Anonymous Wed Feb 26 13:09:38 2014 No.144084 >>144067 it is bitcoiners' faults for not making it failproof when it could probably have been done. that's not kleptocracy though, come up with a different term because this is post-political

Anonymous Wed Feb 26 13:11:09 2014 No.144096
File: 70 KB, 1920x1080, 1393438310397.jpg [View same] [iqdb] [saucenao] [google]

>>144065
There's a hell of a difference between kleptocracy and aligning self interests with institutions.

Who are these kleptocrats? What is their mechanism for stealing things?

>>	Anonymous Wed Feb 26 13:14:39 2014 No.144109 >>144084 Is it still post political if government institutions own more than 1% of the currency from seizures and are getting involved in regulating it?

Zed !ZF41dz6F/Y Wed Feb 26 13:27:09 2014 No.144194
File: 250 KB, 638x350, lolmaxcoin.png [View same] [iqdb] [saucenao] [google]

This vid is absolutely obligatory. Perfect encapsulation of the confused, fantasy-laiden, disjointed minds of people who actually think cryptocurrency is a great idea:

http://www.youtube.com/watch?v=6phynr2fdVU

>>	Anonymous Wed Feb 26 13:35:38 2014 No.144246 File: 39 KB, 568x651, andersbreivighehe.jpg [View same] [iqdb] [saucenao] [google] >>144194 >out with everyone that bought bitcoins after the crash and thinks they are going to the moon >all the people leaving glorious!

>>	Anonymous Wed Feb 26 13:40:39 2014 No.144281 http://finance.yahoo.com/news/us-prosecutors-investigating-bitcoin-businesses-151635667.html czech it out

>>	Anonymous Wed Feb 26 13:52:29 2014 No.144369 >>144194 that video actually makes a good point, whats the point of a bank if you can just keep money on a thumbdrive? That point alone makes it almost inevitable that the government merchants are going to do everything they can to shut it down.

>>	Anonymous Wed Feb 26 13:54:29 2014 No.144383 >>144369 they are probably unsure if they eiter: >destroy bitcoin >try to earn more money with bitcoin >try not to lose money because of bitcoin right now they probably have not much clue how it will work.

Anonymous Wed Feb 26 13:56:28 2014 No.144408

>>144369
The bank has significantly better physical security and consumer protection than a thumbdrive.

>implying bitcoins are more secure than credit cards

But then that's assuming we're talking about bitcoin as a currency, when nearly everyone is talking about it as a speculative asset. So far the biggest measure of "growth" is how high the price rises due to deflation.

Anonymous Wed Feb 26 14:00:28 2014 No.144437
File: 1.06 MB, 280x158, 1393061846577.gif [View same] [iqdb] [saucenao] [google]

>>143841

This is all going exactly as I predicted.
I was expecting it to bounce to +500 Actually I expected it to hit 600$ or even a bit over it before going back down.

See my earlier post.

>>139974

So far I've been spot on. Made few 100$ on that.

This downtrend isn't stopping here.
Next stop 350-380 on the next big leg down.

>>	Anonymous Wed Feb 26 14:03:59 2014 No.144467 >>144437 If it gets into the 300s I am buying as many coins as I can. And I'm sure there are greater fools than I who will as well.

Anonymous Wed Feb 26 14:04:59 2014 No.144475
File: 87 KB, 500x375, 1385417804572.jpg [View same] [iqdb] [saucenao] [google]

>>144369
>That point alone makes it almost inevitable that the government merchants are going to do everything they can to shut it down.

Only that it in this instance isn't the g-men that destroyed mt.gox, but the incompetency of mt.gox employees, from the top down. Simple accountancy, systematic auditing, and actually storing the private keys in "cold/segregated" storage instead of "hot" wallets was the downfall of the exchange. The fact that some fat weeaboo brony-looking retard managed to create the largest BTC exchange is another matter. I have no idea why people actually trusted such an obvious fraud, but they did. That's not a government conspiracy, but a testament to the stupidity of people when fueled by greed.

>>	Anonymous Wed Feb 26 14:06:29 2014 No.144483 will somebody PLEASE post the goxxed/[goys internally] gif

>>	Anonymous Wed Feb 26 14:11:59 2014 No.144520 >>144483 Can someone also post the "not the gox!" simpsons gif

Anonymous Wed Feb 26 14:13:28 2014 No.144528
File: 190 KB, 424x283, head_in_sand.jpg [View same] [iqdb] [saucenao] [google]

>>133440

>a lot of bitcoins are missing
>this is the equivalent of theft or something to that degree
>of theft or something to that degree
>or something to that degree

omfg the denial in this shill

>>	Anonymous Wed Feb 26 14:16:28 2014 No.144545 >>143249 >no max keiser

>>	Anonymous Wed Feb 26 14:38:58 2014 No.144656 >>144067 >I forgot that in the wacky universe of Bitcoin shills, it's only bad when it's authority by government, not private trust. No, both are bad. The former is worse.

>>	Anonymous Wed Feb 26 14:41:59 2014 No.144666 >>144656 what do you recommend, smartass?

>>	Anonymous Wed Feb 26 14:45:58 2014 No.144684 >>144666 I recommend no theft. Unfortunately, as you probably already know, people.

>>	Anonymous Wed Feb 26 14:48:59 2014 No.144698 >>144684 can decentralized exchanges be a thing yet?

>>	Anonymous Wed Feb 26 14:57:59 2014 No.144759 >>144684 >Jews >people

>>	Anonymous Wed Feb 26 15:06:28 2014 No.144814 >Bitcoins were supposed to be different >Bitcoins were supposed avoid/solve the problems of traditional banking >Everyone still loses their money due to fraud

Anonymous Wed Feb 26 15:11:29 2014 No.144856

>>132353
bitcoin pump and dumper here still got a few left over to dump if it decides to lmfaocopter 10k a coin

but anyone who didnt piut coins in their own wallets deserves whatever they lose

is like putting gold in a safe deposit box

nigga yous stupid

Anonymous Wed Feb 26 15:14:59 2014 No.144869
File: 77 KB, 1220x1752, 3018_1.jpg [View same] [iqdb] [saucenao] [google]

Not sure how relevant they are or what exactly they say, but I will dump some stuff about Karpeles ff.st, nezumi.fr and other stuff supposedly about Ragnarok Online servers and MTG cards or something. There may be French hints in them.

>>	Anonymous Wed Feb 26 15:16:29 2014 No.144880 File: 38 KB, 1220x1752, 3018_2.jpg [View same] [iqdb] [saucenao] [google] Karpeles crap 2/?

Anonymous Wed Feb 26 15:16:58 2014 No.144884

>>144698
>can decentralized exchanges be a thing yet?

A decentralized exchange already exists. I can give my Bitcoins to Bob, in exchange for goods and/or service, and Bob can give his Bitcoins to Alice for the same reason in an entirely decentralized manner. No centralized exchange is needed for this.

The problem is when Alice wants to exchange BTCs for USD, or any other national currency. The reason this is a problem is because now Alice wants to interface BTCs with a centralized system, and the only people (natural or corporate) permitted to exchange forex as a business must be regulated in practically every country on the planet. The only "exception" (I use that term lightly as I think it's more tolerated than excepted) I can think of is some unofficial Hawala systems that operate in Islamic countries.

When a decentralized currency interfaces with a centralized currency, the latter will win invariably win because of the need for things like bank accounts, identification documents, and ultimate control with a central issuer.

>>	Anonymous Wed Feb 26 15:17:59 2014 No.144887 File: 22 KB, 1220x1708, 20050714_fax.jpg [View same] [iqdb] [saucenao] [google] Karpeles docs 3/?

Anonymous Wed Feb 26 15:18:29 2014 No.144891

>>144814
>Bitcoins were supposed to be different
>no central banks
>no regulations
>people still trust centralized shady institutions as if they were FDIC insured

Bitcoin expanded to much, too fast. All the new people buying in seemed to have a fundamental misunderstanding of what "unregulated, decentralized crypto-currency" actually meant.

It's Gox's incompetence that lead to the loss of these people's money, but really, Gox has been near-unusable and mostly irrelevant for what, six months now? Anyone who didn't see this coming wasn't paying attention.

>>	Anonymous Wed Feb 26 15:19:29 2014 No.144900 File: 9 KB, 551x293, befti.jpg [View same] [iqdb] [saucenao] [google] Some card given to Mark from the "French Internet Police" 4/?

>>	Anonymous Wed Feb 26 15:21:29 2014 No.144910 File: 23 KB, 584x811, blame.jpg [View same] [iqdb] [saucenao] [google] Mark and Stephane "The preteen french porno bandit" fighting over domains or dildos or something. 5/?

>>	Anonymous Wed Feb 26 15:22:58 2014 No.144920 File: 56 KB, 1220x1752, cdi_1.jpg [View same] [iqdb] [saucenao] [google] Some work records of Mark working for Stephane at "Societe Linux" a france shell company used for fraud. 6/?

>>	Anonymous Wed Feb 26 15:23:28 2014 No.144922 File: 1.42 MB, 1366x768, Kasier Descartes.png [View same] [iqdb] [saucenao] [google] >>144656 >Uz Goy 10/10 >>144545 captcha are shoonp

Anonymous Wed Feb 26 15:23:59 2014 No.144925

>>144698
I googled that last night and they appear to already exist.

Also, Localbitcoins is arguably decentralized.

But I mean I guess it's essentially the problem of decentralized escrow. Without a third party to adjudicate that person A received $X USD and person B received Y BTC in exchange, how does shit work?

Honestly I feel like centralized exchanges *can* work fine. People who trusted in MtGox for too long paid a price. There are numerous alternatives, there were plenty of warning signs. MtGox's technical fuckups caused crashes and people just kept using MtGox.

If there's anything lately that makes me bearish about Bitcoin it's the fact that you essentially have to be smart, and stand guard over your pile of BTC with a shotgun if you want to keep it. The common man ain't got time for that.

>>144814
>Everyone still loses their money due to fraud
This has never been touted as something that Bitcoin solves. It's arguably an un-solvable problem because it's a people problem. Frauds gonna defraud.

>>	Anonymous Wed Feb 26 15:24:28 2014 No.144927 File: 72 KB, 1220x1752, cdi_2.jpg [View same] [iqdb] [saucenao] [google] Page 2 of work records 7/?

>>	Anonymous Wed Feb 26 15:25:58 2014 No.144939 File: 87 KB, 1224x1748, contrat.jpg [View same] [iqdb] [saucenao] [google] Copy of a contract with sweat stain. 8/?

>>	Anonymous Wed Feb 26 15:25:59 2014 No.144936 >>144922 Holy shit. Score.

>>	Anonymous Wed Feb 26 15:28:29 2014 No.144953 File: 72 KB, 1220x1752, ffst_2.jpg [View same] [iqdb] [saucenao] [google] Page 2 of contract between Mark and Stephane about ff.st 9/?

>>	Anonymous Wed Feb 26 15:30:29 2014 No.144965 File: 37 KB, 1220x1708, letter-20050406.jpg [View same] [iqdb] [saucenao] [google] More french love stuff between Mark and Stephane 10/?

>>	Anonymous Wed Feb 26 15:32:00 2014 No.144988 File: 41 KB, 1220x1708, letter-20050707.jpg [View same] [iqdb] [saucenao] [google] French stuff about some kids game called Graal a nexus for sexually abusing children. 11/?

>>	Zed !ZF41dz6F/Y Wed Feb 26 15:32:29 2014 No.144979 >>144369 >whats the point of a bank if you can just keep money on a thumbdrive? Hammers, toilets, strong magnets, holes in pockets...

Anonymous Wed Feb 26 15:32:29 2014 No.144981
File: 370 KB, 900x900, Bitcoin_euro[1].png [View same] [iqdb] [saucenao] [google]

>>142969
Here we go around the semantic bitcoin marry-go-round once more: is it a currency, a store of value, money, an investment, or just a useless token?

>if I can't easily and completely apply just one single word that already exists to fully categorize a completely new technology, that means it will not work because it doesn't completely fit into a preexisting framework in my mind

Do I really need to go over this example again and again? Here's you twenty years ago, "The internet is useless since it tries to be a newspaper, television, phone, board room, retail store, book store, auction house, and information database, and about the only thing it does well is provide something for neckbeards to circlejerk around. Thus, it will fail just like the failures who use it."

Sorry that you can't apply a single word to bitcoin and have it make perfect sense. I know it can be hard to grasp new technology, and so we will spoon feed it to you over time. As new words are created and the application of old words is all figured out by us, not by you, we will make sure to convey it all slowly to you until it permanently makes your life better.

Anonymous Wed Feb 26 15:35:29 2014 No.145000

>>143233
I think this guy's posts are actually pro-bitcoin. It is like he is acting as dumb as possible while opposing bitcoin to make the disbelievers look stupid. Don't get me wrong, they are mostly very simple-minded folk who have absolutely no vision for the future that they would ever place a bet on, and most are fairly stupid to boot, but this poster just smells fishy, or whale-y.

>>	Anonymous Wed Feb 26 15:35:59 2014 No.144998 File: 46 KB, 1220x1708, letter-20050714_1.jpg [View same] [iqdb] [saucenao] [google] No idea what it says I don't speak 3rd world crap languages such as French. More crap about FF.ST accusing and baguettes. 12/?

>>	Anonymous Wed Feb 26 15:37:29 2014 No.145006 File: 47 KB, 1220x1708, letter-20050714_2.jpg [View same] [iqdb] [saucenao] [google] 13/?

>>	Anonymous Wed Feb 26 15:38:29 2014 No.145018 >>143319 Like or not, this crash actually doesn't matter at all and is absolutely just a good thing for the long term outlook. It has crashed by more than 95% in the past, and now it is over 100x that amount.

>>	Anonymous Wed Feb 26 15:39:28 2014 No.145020 File: 53 KB, 1220x1708, letter-20050714_ar-1.jpg [View same] [iqdb] [saucenao] [google] Mark Karpeles showing off the French postal system. 14/?

Anonymous Wed Feb 26 15:42:00 2014 No.145037
File: 67 KB, 400x400, 1288234931556 .jpg [View same] [iqdb] [saucenao] [google]

>>144891
>All the new people buying in seemed to have a fundamental misunderstanding of what "unregulated, decentralized crypto-currency" actually meant.

If it doesn't mean "works like money" then it doesn't work like money.

>It's Gox's incompetence that lead to the loss of these people's money

Now we are calling it money again. So lets be clear. The bitcoin/VC narrative meeting people who are unfortunately more trusting and inexperienced is what caused them to lose their money, which they paid for bitcoins. They lost their money when they bought them.

Mt Gox "lost" bitcoins, not money. Because btc do not work like money. Mt Gox did not lose money. Mt Gox simply manifested what had already happened, and now we attach a name and website to create the appearance that this was a singular event, not people being duped into giving real money away for some time. This is what anyone else would called a fairly masterful fraud with a lot of diversions and facades, but a slow-burn fraud none the less.

The fraud was not losing worthless units or money. The money had already been taken. "Losing" the btc is simply what is called "blowing off the mark" and like any great con, the marks are still having trouble getting their head around it or believing it. Not because Mt Gox did anything unusual. It is precisely because this is not unusual, and soon the con will play out again.

And everytime, thousands of people who are "legitimately safe" or have not taken profits will provide cover for the next fleecing of an exchange, wherein the actual money was taken long before the technical deus ex machina pretext for a lot of people not getting their real money back.

It is an old and yet effective game of the bank robbing itself.

Anonymous Wed Feb 26 15:44:29 2014 No.145043

>>143609
>Bitcoin shills do two things consistently: talk about the past and talk about the future.

Once again demonstrating the blind dinosaur mentality that is so prevalent in nocoiners. I mean, why ever look toward the future to try to figure out how to make it better? That is useless hippy talk!

Anonymous Wed Feb 26 15:45:59 2014 No.145051
File: 1.58 MB, 250x220, 1392153269947.gif [View same] [iqdb] [saucenao] [google]

>>142155
why do people keep thinking bitcoin will be a mill per coin? that is stupid as shit. at the current amount of BTC that would be a 12 trillion dollar market cap. you fucking retards

>mfw there is people that actually believe this

>>	Anonymous Wed Feb 26 15:47:58 2014 No.145059 >>143806 It still gets encrypted while it is traveling from one address to the other, right?

>>	Anonymous Wed Feb 26 15:48:29 2014 No.145062 >>144194 >"Bitcoin recovered to 600 USD within hours of crash" >recovered >to half its value before the crash Great recovery geniuses.

>>	Anonymous Wed Feb 26 15:49:28 2014 No.145072 File: 1.43 MB, 1366x768, magnum.png [View same] [iqdb] [saucenao] [google] >>145043 >nocoiners Jesus christ it's like your entire identity is wrapped up in this thing.

>>	Anonymous Wed Feb 26 15:49:58 2014 No.145075 File: 160 KB, 460x460, 1392935981222.jpg [View same] [iqdb] [saucenao] [google] >>145051 inb4 Satoshi isn't da gubmint

>>	Anonymous Wed Feb 26 15:50:58 2014 No.145078 >>144054 >Pic related, and always will be, no matter how many of these threads ever get made. Okay, now that line was really funny.

>>	Anonymous Wed Feb 26 15:51:00 2014 No.145086 >>140689 >I wonder how long these guys can flip these coins around before they run out of money. What are you talking about? Run out of money how?

>>	Anonymous Wed Feb 26 15:54:29 2014 No.145100 >>145086 Run out of real money to invest in worthless Bitcoins, having everybody craftier than them leave and take their real money with them.

Anonymous Wed Feb 26 15:54:29 2014 No.145101

How can a thread full of people who hate bitcoin so much be as misinformed as this guy >>138481

I don't even think these people are trolls who know better.

Like that other guy above who suggested that Bitcoins is a ponzi scheme.

If you are going to critique crypto currencies, you should at least know how they work.

Anonymous Wed Feb 26 15:54:59 2014 No.145103
File: 100 KB, 512x286, Conan2000.jpg [View same] [iqdb] [saucenao] [google]

>>144981
>that means it will not work because it doesn't completely fit into a preexisting framework in my mind

Yes. That's exactly what it means. So you can stop using terms like money, currency, investments or stores of value.

A pre-existing framework in ones mind is also called a need. There is absolutely nothing about VC that cant be done with something else. It is useless even by most criminal standards.

>Do I really need to go over this example again and again?

No. None of your lectures about flying cars and world peace have done fuckall to explain away the volatility, lack of acceptance and technical burdens, both physically and legally of this tripe. Repeating 'someday' does not solve problems today.

>Sorry that you can't apply a single word to bitcoin and have it make perfect sense.

Yes. You have perfectly defined why it remains useless to everyone but the thieves stealing it. It does not make perfect sense, and therefore makes no sense.

Take care, Buck Rogers. I'm sure solar-powered flying cars chauffeured by robots will be for sale in btc by this autumn. We just need to keep dreaming as much as you do.

>>	Anonymous Wed Feb 26 15:54:59 2014 No.145104 >>145059 I don't think it travels to the address per se, it's part of the Bitcoin client API as far as I understand, that links to an address. But yes, as far as I understand it is encrypted.

>>	Zed !ZF41dz6F/Y Wed Feb 26 15:55:58 2014 No.145109 >>144981 >"I don't know what Bitcoin is, so it is probably magic powered by rainbows, unicorn farts, and kitten giggles!"

Anonymous Wed Feb 26 15:57:59 2014 No.145119
File: 63 KB, 640x480, 1387604961113.jpg [View same] [iqdb] [saucenao] [google]

>>145101
FUD is viral and you must prepare your body for the sell off that will happen when people get to withdraw from MT Goy. Weak hands will all go sell, thinking it's all over.

>>	Anonymous Wed Feb 26 15:58:59 2014 No.145126 >>145000 known as consensus cracking. http://www.blackopradio.com/disinformation.html

Zed !ZF41dz6F/Y Wed Feb 26 15:59:29 2014 No.145128
File: 628 KB, 300x169, clapping pitt.gif [View same] [iqdb] [saucenao] [google]

>>145037
6/10
That thar is some well-crafted internet bullshit. I laughed out loud twice while reading it. The bit about "It wasn't stealing because the money was gone when people noticed it had been stolen..." or however you put it was nothing short of a Clintonesque stroke of genius.

Anonymous Wed Feb 26 15:59:58 2014 No.145134

>>145018

This crash is different.

It's irrelevant if something relatively unknown with a small as fuck market goes up or down 1000% in the price range of 1-30$

Now this has grown big enough to actually reach mainstream news all around the world.
Mainstream news that never before even mentioned Bitcoin.
Also big enough for people to lose their life-savings in this.

This might not matter to someone who's raking money from these insane fluctuations, but it matters a lot to the average Joe and to the merchants.

Think about this from the point of an average person who's only vaguely aware of Bitcoin.
We are have reached the highest media attention in Bitcoins history and all the news that are pouring in are negative as they can be.
If average people are scared away, Bitcoin is fucked.
And the Gox matter is far from being resolved, they haven't even said anything yet.

After all, this current +200$ price is completely based on speculation and us expecting mainstream adoption for Bitcoin.
Without China speculation, we'd still be hanging around 150-200$ It's just hot air that's keeping us up, nothing else.

>>	Anonymous Wed Feb 26 16:03:29 2014 No.145164 >>145062 >bitcoin was at 1200 USD before the crash u wot

>>	Zed !ZF41dz6F/Y Wed Feb 26 16:06:59 2014 No.145188 File: 444 KB, 640x390, BITCOINGAMES.png [View same] [iqdb] [saucenao] [google]

Anonymous Wed Feb 26 16:10:28 2014 No.145211
File: 24 KB, 716x501, Untitled.png [View same] [iqdb] [saucenao] [google]

>>145164

Well you could argue that it actually was.
Looking at 1 week chart, we have only been coming down ever since it hit 1200.

If we ignore 1200 then it started coming down from 1000$. Not really a big difference.

Starting to look like that classic bubble chart at this point.

>>	Anonymous Wed Feb 26 16:13:53 2014 No.145239 File: 25 KB, 242x245, ttt.jpg [View same] [iqdb] [saucenao] [google] >>145188 Indeed.

>>	Anonymous Wed Feb 26 16:16:23 2014 No.145258 >Difficulty 79.05382100 The difficulty is bound to adjust after the next block, but what causes these huge difficulty spikes that readjust after one block?

>>	Anonymous Wed Feb 26 16:18:23 2014 No.145277 IT BEGINS http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

>>	Anonymous Wed Feb 26 16:22:52 2014 No.145303 >>145277 lol. As if we didn't see it coming. BTC is on its way out folks... Silkroad and MtGox screwed you guys

Anonymous Wed Feb 26 16:24:53 2014 No.145314
File: 47 KB, 215x311, Mark Karpeles Future Cellmate.jpg [View same] [iqdb] [saucenao] [google]

>>145277
Him and Chucky Schumer have had a hardon for bitcoin since 2011.

>2014
>trying to stop the illegal drug trade

Ironically Manchin's daughter is the CEO of the 3rd largest manufacturer of generic drugs in the US.

>>	Anonymous Wed Feb 26 16:29:52 2014 No.145348 >>145277 So this is it... The ragrnarok was referring to the death of Bitcoin.

>>	Anonymous Wed Feb 26 16:31:23 2014 No.145357 File: 12 KB, 260x320, crap.jpg [View same] [iqdb] [saucenao] [google] When the same people calling something "currency" are also calling it a "risk venture" something is seriously fukt.

Anonymous Wed Feb 26 16:31:52 2014 No.145362

>>144869
>>144880
>>144887
Boring stuff, standard annex to work contract.
>>144900
Looks legit.
>>144910
Karpeles blamed for spending too much time on IRC at work.
>>144920
>>144927
Work contract. Karpeles is hired as a developper / sysadmin by "Linux" company.
1135€ a month lol.
>>144939
Actually it's some kind of "youth" contract. I.e. the gov pays the company to hire you.
And Karpeles actual first name is Robert.
>>144965
Karpeles resigns.
>>144988
"Linux" didn't get his resignation letter and complains about him not showing up at work.
>>144998
Karpeles confirms resignation an asks for money.

>>	Anonymous Wed Feb 26 16:34:53 2014 No.145375 >>145303 implying mtgoy was the only btc exchange and SR was the only black market... cmon playa

>>	Anonymous Wed Feb 26 16:35:52 2014 No.145381 File: 1.32 MB, 288x231, 1377960566206.gif [View same] [iqdb] [saucenao] [google] >>145362 >Karpeles confirms resignation an asks for money. >asks for money >money

>>	Anonymous Wed Feb 26 16:37:23 2014 No.145390 >>145375 They don't need to be the only one. Mid last year MtGox accounted for 80% of BTC transactions. They are synonymous with BTC. They work hand in hand with BTC devs

Anonymous Wed Feb 26 16:56:52 2014 No.145487

>>145037
When I said "these people's money," I mean their assets that were in Gox's possesion valuable in USD - be they USD, BTC, or otherwise.
I was also speaking under the assumption that Mt.Gox was, and has been, operating in good faith rather than playing a long con over the life of Bitcoin; I still think this is a reasonable assumption, as they can more easily arrive at their current position through well-intentioned incompetence rather than a complex scheme set into motion in 2010 with the foreknowledge that Bitcoin would rise to over a thousand per coin.

>>	Anonymous Wed Feb 26 16:59:23 2014 No.145509 >Thinking a single JPMorgan shill can get a ban on Bitcoin The cat is already out of the bag folks. Scaremongering won't stop this cryptocurrency train.

Anonymous Wed Feb 26 16:59:53 2014 No.145505

>>145277
Don't think this will go through. At worst, they'll regulate it. Likely unsuccessfully. The biggest thing they could realistically do is make it hard for banks/Paypal to receive money from Bitcoin sites.

>inkstnd worms
Seriously? Inkstained worms?

>>	Anonymous Wed Feb 26 17:00:52 2014 No.145514 >>144369 >power goes out >can't access your savings brilliant

>>	Anonymous Wed Feb 26 17:02:53 2014 No.145527 >>145514 The exact same post can be used against anyone who does online banking. I can't access my account with no power.

>>	Anonymous Wed Feb 26 17:03:53 2014 No.145536 >>145514 >power goes out >because they dont accept bitcoins kek

>>	Anonymous Wed Feb 26 17:04:22 2014 No.145542 >>145037 Maybe. Except for the fact that if you own one, someone will buy it for five hundred and sixty god damned dollars apiece. So it's kind of a little different than losing it completely.

>>	Anonymous Wed Feb 26 17:05:52 2014 No.145548 >>145514 It's fair to assume bitcoin adoption is going to remain low in places where there's no power. If that's a problem for you, come join civilisation.

>>	Anonymous Wed Feb 26 17:11:52 2014 No.145587 >>145527 Yes but you can always walk into a physical branch >>145548 I'm not saying there are frequent power problems where I live, but I'm just saying it would be quite a stumbling block is btc were to see more widespread use in retail or similar

>>	Anonymous Wed Feb 26 17:12:53 2014 No.145596 >>145587 >Yes but you can always walk into a physical branch Or I can get my phone out and access my bank account from there. There is a homeless man who uses Bitcoin via tablet and solar charger. If he can use it, anyone can.

Anonymous Wed Feb 26 17:14:22 2014 No.145609

>>145587
>but I'm just saying it would be quite a stumbling block is btc were to see more widespread use in retail or similar
A while back I was going into a Chipotle restaurant and the power went out. They closed their doors because without power they were unable to sell food. Not even cash, as the register was too electronic to function. I got my food free that day.

You live in a time where the economy runs on electricity and internet. Bitcoin or not.

>>	Anonymous Wed Feb 26 17:14:23 2014 No.145608 >>144979 Deterministic wallets.

>>	Anonymous Wed Feb 26 17:15:23 2014 No.145624 >>132353 How exactly did this happen? I mean, what method did the attackers use to soak up money from the exchange the way they did?

Anonymous Wed Feb 26 17:16:23 2014 No.145625

>>145505

If they are unable to regulate it, it sure as fuck won't be allowed to co-exist with banks. They are just going to impose bans on it.
And this will happen.

It's impossible to kill Bitcoin, but if it never gets adopted by the general public and if it never gets a green light from banks,payment processors and governments, it's going to be trading sub 100$ or sub 50$ for the rest of it's life.

This is something that Bitcoin believers don't seem to understand.

Anonymous Wed Feb 26 17:18:52 2014 No.145641

>>145624
>Exchange is retardedly programmed to look for Transaction IDs instead of actual network confirmations
>Scammer withdraws BTC
>Scammer fucks with the Transaction IDs
>Scammer tells MtGox they never received their BTC (they did).
>MtGox's system agrees with the scammer because it's looking at the Transaction ID instead of the network confirmation
>MtGox refunds scammer on their MtGox account
>Repeat for years

>>	Anonymous Wed Feb 26 17:20:53 2014 No.145651 >>145609 >>145596 ehhh nothin personnel kid but im still skeptical

>>	Anonymous Wed Feb 26 17:23:23 2014 No.145674 >>145651 >kid Please don't be retarded. Being skeptical of an opposite opinion does not make someone who holds that position a kid.

>>	Anonymous Wed Feb 26 17:24:14 2014 No.145682 File: 21 KB, 780x770, a.png [View same] [iqdb] [saucenao] [google] >>145674

>>	Anonymous Wed Feb 26 17:25:13 2014 No.145697 >>145674 someone needs to do some cram meme revision :^)

Anonymous Wed Feb 26 17:28:44 2014 No.145718

>>145103
>There is absolutely nothing about VC that cant be done with something else.

The same was once said about the telephone and the telegraph, and the car and train, and email and the post office. Some things will come along in your life that require completely new definitions and words to be made, and they do not at all fit easily into old paradigms, if at all.

"Is it a laptop or a desktop? Maybe it is like a really big smartphone or a palm pilot. What did you just call it, a tablet? Ahahaha, there is nothing a tablet can do that any of the other devices couldn't do just as well. Those dumb things will never catch on."

Just keep going on and calling virtual currencies "VC" even though everybody else on this board and in the entire financial world uses those letters for, and only for, venture capital, of which hundreds of millions is pouring into right now to develop bitcoin so it reaches a level where even people as blind as you can see the possibilities for it.

>Bitcoin does not make perfect sense to me, and therefore makes no sense at all.

And this is the level of logic exhibited by most nocoiners, happy to be slaves to big daddy printing exactly as much money as his friends ask for without any input from nocoin slaves, and all of this just because a different pathway is not immediately 100% clear and risk free. What a great future vision you have, so brave, and surely many people will follow it.

>>	Anonymous Wed Feb 26 17:30:42 2014 No.145737 >>145718 I quite like the name nocoin. Are you using reverse psychology to viral your new le meme?

>>	Anonymous Wed Feb 26 17:32:12 2014 No.145753 Fucking Coinbase and its self contained jew market.

>>	Anonymous Wed Feb 26 17:33:12 2014 No.145765 >>145718 >nocoin slaves Why do people seem so fake whenever they get political?

Anonymous Wed Feb 26 17:35:42 2014 No.145772

>>145109
I know exactly what bitcoin is and isn't. It is a hybrid commodity/currency with utility that makes it a revolutionary financial tool that will impact every single sector of commerce in the entire world. Nocoiners just keep playing semantics and running around a pool of words, as soon as you get any single point across to them, they just change the word and say "Oh look, it is not exactly 100% a commodity or a currency, and since you are not exactly sure the exact proportion of commodity to currency that bitcoin is, then well, it must be absolutely horrible as both and not possibly anything new worth looking at."

Nocoiners have zero concept about how new things work. New things cannot possibly fit your preexisting paradigm perfectly, that is because they are actually something totally new. They always require new words to be invented in order to fully describe them. Websites, email, and wifi all sounded like some new fad words that didn't really serve any necessary purpose, too.

Anonymous Wed Feb 26 17:37:42 2014 No.145791
File: 34 KB, 132x145, yallgonnagetrocked.png [View same] [iqdb] [saucenao] [google]

>>134106

I consider it to be a Pyramid/Ponzi hybrid of sorts. Pyramid in the sense that a glutton of BTC is owned by a small number of people, Ponzi in the sense that these same people are BTC's biggest ambassadors. The founders NEED to drum up attention so the common man buys his 1 BTC. Also:

>Winklevoss twins

Not the washups you want running a currency. At all.

>In 2013, the twins led a $1.5 million in seed funding of BitInstant, a bitcoin payment processor. However, in January 2014, Charlie Shrem, CEO of BitInstant, was arrested and charged with money laundering related to the Silk Road online black market investigation.[20]

Anonymous Wed Feb 26 17:45:42 2014 No.145839

>>145134
>"hot air"
>hundreds of million in venture capital investment
>thousands of professional programmers working on apps, exchanges, marketplaces, payment processors
>thousands of volunteers programming for free
>some of the largest names in business and government officially stating that it does offer benefits as a financial tool
>US Senate hearing
>CA passes bill making it a legal commodity that can be used as a currency
>NY rolls out bitlicense program
>Hundreds of ATM kiosks now in place around the world, including robocoin
>3300 brick and mortar stores accept it and 20000 online stores
>China "banned" it but exchanges there still open and operating perfectly

To nocoiners all of this is just hot air. You now know who to listen to.

>>	Anonymous Wed Feb 26 17:47:00 2014 No.145854 >>145188 >>145239 Tell that to the guy's who have already made millions, and keep telling that the guy's that are currently making millions more. I am sure they haven't "won" at all.

>>	Anonymous Wed Feb 26 17:49:30 2014 No.145865 >>145839 >hundreds of million in venture capital investment waahhaahahah breathe wahahahahahahaha sorry i didnt read the rest because i choked on my food. youre silly

>>	Anonymous Wed Feb 26 17:49:31 2014 No.145862 >>145839 >>145772 >>145718 >nocoiners is this the birth of an epic new meme?

>>	Anonymous Wed Feb 26 17:51:01 2014 No.145872 >>145791 >Scheme to get you to buy BTC hence mining.

Anonymous Wed Feb 26 17:56:48 2014 No.145899

>>145862

No, it's an old tired ad hom for people who wont join their cult. Nothing useful has to be sold this hard with such hysterical zealotry. Otherwise it would sell itself.

There's a distinct profile that accompanies going to great lengths to repeat how valuable something one has is to people who dont want it. You see it in btc zealots, born-again Christians, homeless recovering alcoholics and other hucksters. They have answers and get pissy if you don't want them.

Anonymous Wed Feb 26 17:56:49 2014 No.145897

If this is still above $500 by the start of next week then it's probably safe to say this wasn't a crash but a correction.

Mt. Gox is gone, bitcoins are priced more realistically, and the only people more worse for wear are the people who didn't heed advice and stay away from MG when they were showing signs of instability.

Overall, it seems like bitcoins weathered the storm, but indeed are here to say.

Anonymous Wed Feb 26 17:56:49 2014 No.145898

>>145277
A politician that has no idea what he is talking about and riding the wave of negative media stories in order to make himself seem like a hero of the people all while encouraging the perpetuation of a system that steals from the poor by printing money whenever and however the rich people ask for it? No way, that has never happened before!

Bitcoiners do appreciate the free publicity, though. Keep it up, nocoiners.

>>	Anonymous Wed Feb 26 17:58:17 2014 No.145910 >>145839 97 million in VC money all over the world. 78.5 of that is from North America, 50 of that amount is from Ben Horowitz.

>>	Anonymous Wed Feb 26 17:59:18 2014 No.145916 I'm on the pro-BTC side of the debate and I cringe whenever I see people writing "nocoiner". Please, stop making us look bad.

Anonymous Wed Feb 26 17:59:48 2014 No.145925

>>145390
>They work hand in hand with BTC devs

Nope. Nobody associated with bitcoin is ever going near Gox again. source: http://online.wsj.com/news/articles/SB10001424052702303426304579401883794330454

Also, Mt Gox stopped being the biggest exchange last summer when bitcoin started taking off in China.

Anonymous Wed Feb 26 18:00:48 2014 No.145932
File: 1.77 MB, 300x174, 1354918116303.gif [View same] [iqdb] [saucenao] [google]

>>145854

>millions

It's not millions until its currency. Btc is not a currency, it's an index of hope vs exposed fraud.

Someone upthread mentioned a homeless guy using btc with solar energy on his tablet. I think it paints a clear picture, but I'll leave it to the intuition of others to interpret for themselves.

>>	Anonymous Wed Feb 26 18:00:48 2014 No.145933 >>145899 >dem analogies my sides are in orbit

>>	Anonymous Wed Feb 26 18:02:48 2014 No.145943 >>145910 This, Not hundreds of millions. Also a lot of that VC money goes to startups like Ripple which you can't exactly call a Bitcoin startup because they have their own crytpo-currency, XRP

>>	Anonymous Wed Feb 26 18:06:03 2014 No.145967 >>145899 in this moment i am euphoric.

Anonymous Wed Feb 26 18:12:34 2014 No.146009

>>145791
>Not the washups you want running a currency. At all.

I heard they actually did really well at Harvard in every respect, including when they were on the crew team and eventually competed on the USA Olympic Crew Team, although they didn't win a metal. They actually seem like smart and hard working people, and they never had any connection to silk road.

Winklevii got screwed over by Schrem who was laundering behind their back. Their family is part of the upper crust, the ultra-elite, for all intents and purposes royalty, and it is inconceivable that any of them would launder a paltry 2 million dollars on the black market. Old money that are not crime families never do that unless it is on the scale of billions of dollars laundered directly through the international banking system.

Anonymous Wed Feb 26 18:17:33 2014 No.146048

>>145916

Oldfags who sit from the sidelines suffering chest pains when they see neckbeard techies accumulating wealth quicker than they've done over the course of multiple decades of pathetic existence.

'But but, gold and silver have INTRINSIC value, unlike your ponzi scheme.'

Way to neanderthal, Ms. Betty White. I suppose downloadable software also has intrinsic value too. You know, since it's also a piece of unpalpable data stored on a meaningless harddrive. You dipshits fail to see that the same principles that go into the reason why people pay money for software and ridiculous amounts of money for rare scoot hats on tf2...are the same principles that keep driving the bitcoin industry.

Scarcity/investment capital, energy costs...and more scarcity.

The reason why bitcoin was less than a buffalo head nickel when it came out is because nobody was mining it. Cryptos were designed so that the more people that join the network, the tougher the algorithm becomes, and thus the better hardware one must invest in, as well as increased electricity costs needed to mine the very same coin previously.

When buttcoins were first distributed, you could mine a shit ton with a craptastic dell lappy with an aged nvidia gpu that would have trouble running quake over 5fps.

Now? You would have to have an asic farm or super computing network, along with the ability to afford hebrewtastic monthly electrical statements to keep aforementioned hardware running around the clock...just to mine even one buttcoin over the course of several days, if not weeks.
Simple laws of capitol vs supply vs demand. When you pay for a piece of software, you're paying for the design team that coded it, the amount of labor hours it took to create it, R&D costs, and advertising. You ass hats don't even take the time to learn the very basic premises of this industry which apparently causes you health issues. And you wonder why it will never die off? We gettin' money out here nigga. Bleedat.

Anonymous Wed Feb 26 18:17:34 2014 No.146046
File: 718 KB, 850x1217, 4001946706_562d594883_o.jpg [View same] [iqdb] [saucenao] [google]

>>145839

>Nocoiner

I turned 400 to 5 figures in a year day trading Bitcoin.
I'm still holding some coins. Well more like jumping on and off the ride, just like I have done during my day trading "hobby"
I'm not confident enough to sleep in Crypto at this point, haven't been in a long time.
Did cash out 60% of that out around the new year though, so I'm 100% safe and I can't lose a damn thing at this point.

Why is it that you "bitcoin believers" or whatever the fuck you guys want to call yourselves always seem like completely deluded hippies.

No seriously this is like talking to some pot head squatting in an abandoned building playing drums and talking about taking down the government.
>Down with the bankers, we're changing the world man!

Get a grip and pull your head out of the clouds, back to the real world.
This is supported by nothing but hot air at these prices.

We were about 200$ or 150$ before China, then we were expecting the Chinese Gov to endorse and accept Bitcoin. Well huge surprise, they didn't.
But the price didn't tank for good, it stayed well above 200$. It stayed near 1k. Now if that's not as sign of an overpriced coin, then I don't know what is.
Also, even though Chinese exchanges seem to be running strong, most of it is just faked volume and everyone knows that.
As it was proved with BTCChina.
They might get taken offline overnight. The exchanges only "believe that we aren't violating law" They are walking on very thin ice.
In addition, Russia decided to say "fuck you bitcoin" and we lost them too.

Now we are experiencing the biggest fuckup in the Bitcoin history, and that matter isn't even over yet.
We haven't even had a statement from Gox.

This doesn't promote any confidence in me.

But it's useless to say this, because it's like trying to convince some religious zealot of your views.
He's not going to accept or even consider any of your views, no matter what you say.

Anonymous Wed Feb 26 18:21:03 2014 No.146071

>>145865
Fine, you got me. So far only a little less than one hundred million. source: http://www.coindesk.com/following-money-geographic-dispersion-vc-bitcoin-investment/

I don't know, is $100 million VC just hot air to nocoiners? Google got just over $25 million in it's first year of venture capital funding, and so far coinbase.com has gotten over $30 million. Sounding better yet?

>>	Anonymous Wed Feb 26 18:22:03 2014 No.146076 >>146048 What does any of that have to do with my post?

Anonymous Wed Feb 26 18:27:03 2014 No.146111

>>145772
>It is a hybrid commodity/currency
No it isn't, it's an arbitrary unit on a distributed ledger.

The only real acheivements of bitcoin were inventing a problem that no-one except paranoid neckbeards thought existed about having to trust your bank, and convincing them that you don't need a settlement system but that the records themselves were valuable.

Of course if said neckbeards believe those records are valuable, then they are because you can trade it with them, but it's the same thing as trading with WoW gold.

Anonymous Wed Feb 26 18:31:03 2014 No.146134

>>146048

If people here are unwilling to even learn the basic premises of this industry, what makes you think that the average population gives 2 shits about the basics either?

Normal people don't give a fuck about mining, If the price is too high they'll think "Oh that's pretty expensive, I'll pass" and no, they aren't going to buy 0.001242 Bitcoins.
Human mind doesn't work that way.
So it doesn't matter if miner says "But but, the value, and and the mining costs" If the price isn't right and if there's no strong confidence, then miner is either going to have to sell at a loss, or just stop mining.

Anonymous Wed Feb 26 18:31:35 2014 No.146130

>>145791
>The founders NEED to drum up attention so the common man buys his 1 BTC
The reason why I don't believe this is because the common man owning 1 BTC doesn't seem like it would really do shit for BTC.

The people sitting on piles of hundreds/thousands of BTC need a better strategy than to have plebs to merely drop money on a BTC or half of a BTC, they need plebs to be buying gas and groceries with that shit, which seems to be a ways off.

Just because early investors stand to profit greatly by encouraging adoption doesn't make it a scheme of any sorts.

>Not the washups you want running a currency. At all.
Yeah they came off as pretty lame in that one Justin Timberlake movie from a few years ago, and that's more or less the basis of my opinion of them.

>>	Anonymous Wed Feb 26 18:33:04 2014 No.146148 NEWFAG ALERT I have about £1K to invest. How and where can I buy some Bitcoin. Please spoonfeed/baby feed it to me or toss up a hyperlink. Thanks.

Anonymous Wed Feb 26 18:36:04 2014 No.146164

>>146071
Its estimated that about 40% of enterprises that VC funds fail. And only 20% or less produce high returns. VC firms obviously do due diligence but it's mostly just a shot in the dark. Just because something has VC funding does not mean that it will succeed by any means. $100 million VC funding is a drop in the bucket to the $22 billion invested every year. With that being said... BTC looked promising. Right now? Maybe not as much.

Anonymous Wed Feb 26 18:36:34 2014 No.146161

>>146111
>paranoid neckbeards
Paranoid neckbeards would have been the first to tell you that your cell phone could be used as a sleeper-wire or that the NSA was crunching the whole of your electronic communications with Hadoop.

Given the current political climate, I think you should be giving these paranoid neckbeards a bit more credit than your derisive tone would want to indicate.

Anonymous Wed Feb 26 18:37:33 2014 No.146165
File: 110 KB, 1008x600, 1365915767260.jpg [View same] [iqdb] [saucenao] [google]

>>146048

Wow. All that blind rage. Like some cathartic explosive diarrhea.

I didn't actually read much past the first raging line, but I did skim the second one and got the gist of it.

I don't know what to say. It's obvious to anyone that actual currency doesn't need a thread full of rants to seem attractive enough to buy.

I find it odd that your first line is about chest pains. If everyone getting "Bitcoin Rich", (*which is a bit like being WoW Strong), is as content as you, Coinbase should offer defibrillator service to such happy customers before they die of rage induced coronaries.

Anonymous Wed Feb 26 18:38:34 2014 No.146173
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>>146046
I am not denying any of the facts that get pointed out, like the Mt Gox fiasco being the biggest disaster yet. This casts doubt in everybody's mind. This is why somebody wins at this game. Whoever addresses their doubts correctly and makes the best bet wins. For many of us, we have been watching the world become a horrible place in many ways, and we see bitcoin as a way to help even the playing field by decentralizing power to lower corruption.

It is a very basic idea that is only accomplished when somebody stands up and speaks truth to power. Guess who else sounded like crazy hippies with new but useless technology? Steve Jobs and Bill Gates, and they both took psychadelic drugs, including LSD, and had long hair.

Like it or not, the guy wearing a suit and tie on Wall Street and the slimy politician that tells him how much money they are printing have absolutely zero clue about what new technology the public will adopt next and how fast it will happen. The hippies are the ones with visions of revolution in all areas of life, from new ways of communal living to making music to taking new drugs and envisioning new technology. The hippy thrives on the new and radical and the straight man thrives on repetition and the establishment.

Sorry for sounding to much like a hippy. After all, we are the crazy ones. source: http://vimeo.com/86227541

>>	Anonymous Wed Feb 26 18:44:34 2014 No.146198 File: 347 KB, 2560x1600, Shut-up-and-take-my-money.jpg [View same] [iqdb] [saucenao] [google] >>146173 > tell me about bitcoin > "STEVE JOBS!"

>>	Anonymous Wed Feb 26 18:46:03 2014 No.146203 >>146198 >the people who always say things that are expected and never sound crazy are the people who change the world Go back to bed, grandpa, prices are still rising.

>>	Anonymous Wed Feb 26 18:46:34 2014 No.146201 File: 134 KB, 290x250, South Park Covetous Jew.png [View same] [iqdb] [saucenao] [google] >>146173 Abbie Hoffman, Bob Dylan.. a lot of the leading hippies were Jewish. Just sayin'...

>>	Anonymous Wed Feb 26 18:49:34 2014 No.146216 >>144910 Interesting how much more formal written french is to spoken french, compared with english.

Anonymous Wed Feb 26 18:51:04 2014 No.146231

>>146165

Lol, I think it's quite apparent where majority of the 'rage' in this thread stems from.

It's just quite ironic how some would spend their 'free time' seemingly so devoted to thrashing and debasing an industry with a firm understanding most likely derived from a 5 minute excerpt on a Rush Limbaugh podcast. Like, I'm actually beginning to think some of you anti-buttcoiners lose sleep over this, even though you're not even involved in it (though most likely wish you were, else you would be too busy enjoyin yer' profitz)

You guys claimed the price would crash immediately after. It didn't.

You claimed te system is now flawed and price inflation would not make it 'attractive' to the average tech saavy newcomer.

Yet there are several people in here scrambling for info on how to attain their first btc stake in a fractional denomination.

Face it gaize, us hippie neckbeards are here to stay. And this here 'coon technology is going to continue to be that thorn in your side, constantly prodding your emotional fragility and finger fucking your ragequit buttons.

Anonymous Wed Feb 26 18:52:33 2014 No.146233

>>146173

I'm not against virtual currencies, I love the concept.

But to me it seems that Bitcoin has gone full retard and is just now being traded by bunch of people with their heads so high up in the clouds that the ground is nowhere to be seen.

Now you seem the kind of guy who's in this because he doesn't like banks. Ok I can understand that, a cause that I can respect, but most people trading Bitcoin aren't like that.
Most people trading it are deluded " To the moon, This is going to make me millions!! I'm going to buy a fucking Ferrari with my 2 Bitcoins!" kind of guys. Most of us aren't counting our profits in BTC we are counting them in Fiat currencies. And these kinds of people generally don't give a shit about the idea behind crypto.
Hell it would have more credibility in my eyes if it actually was a legit anti-government/bank movement, but no.
It's traded by your average neckbeards and NEETs along with few whales who hold insane amounts of crypto and have manipulated this to oblivion.
They are in this just to make tons of money and have pumped and speculated the price to crazy unsustainable levels, as the insane volatility shows.
It's a game of get rich quick, and it's going to get tons of people burned.

Anonymous Wed Feb 26 18:53:33 2014 No.146241
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>>146048
>full retard rant

Nigga I've been hearing about the theoretical implications of encrypted currencies things since Lord William Rees-Mogg and James Dale Davidson wrote the Sovereign Individual.

What no one was counting on was that hyperdeflation would completely wreck it's chances for being used as an actual currency.

>>146203
>btc prices going up even further

>implying deflation is a good thing

Anyway, when the market loses all volume and bitcoins are worth $10,000 USD we'll try another approach that might actually work.

>>	Anonymous Wed Feb 26 18:59:06 2014 No.146266 >>146241 >What no one was counting on was that suit and tie legislation could possibly wreck it's chances for being used as a fully anonymous transfer of wealth Fixed it for you, gramps. Left your metamucil on the dresser. Rest up before supper..

Anonymous Wed Feb 26 19:00:35 2014 No.146269

>ITT: A lot of dummies who bought in at $800 and are desperately trying to convince everyone else it will go back up to $1200 while not even really believing it themselves but hoping beyond hope that if they convince a few suckers to buy now that may drive the price up enough to get their initial $800 back even though the trend has been nothing but downwards ever since it hit $1200 last year.

You people are bad people and you should feel bad. Cut your losses and stop spamming your bullshit. There is nobody here that buys it.

>>	Anonymous Wed Feb 26 19:03:05 2014 No.146284 >>146269 you sure you know what deflation is

Anonymous Wed Feb 26 19:03:34 2014 No.146281
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>>146203

Prices are rising because it's just a natural part of that bounce from a very strong 400$ resistance point. Identical to the previous bounces. It was a very big drop after all.

I hate it when people go "lol you're wrong it's climbing!!" over and over again at the first sign of price going up, when during the last 2 months it hasn't really climbed at all.
If there was a real bounce or climb happening, we wouldn't be fluctuating between 580 and 540 with nonexistent volume.
Makes me think that the person bought +800£ or god forbid +1000$ BTC and is desperately hoping for a reversal.

It's a slow strong downtrend, and a climb of a day of two doesn't mean a damn thing, especially when the climb matches the bounce pattern to the point.

Watch the longer term charts. It will save/make you some money.

Anonymous Wed Feb 26 19:08:34 2014 No.146301

>>146233
The banks are cutting into the profit margin of almost every other company on the planet, in some cases taking away more than %50 of the profit of a business. This is the price that is totally unjustified and just a bunch of hot air, and bitcoin as a technology proves that to be the case. Everybody is set to profit from it more except most banks, but the first banks that do adopt bitcoin will likely gain a huge amount of market share.

Anonymous Wed Feb 26 19:09:34 2014 No.146309

>>146269

>ITT: butthurt 'wish I would have caught that plane early' retirement home cattlestock praying for its ultimate demise in a 'THEY TOOK OUR JOBS!'-esque Kansas fervor.

Get a hobby, gramps. Picketing an online buttcoin thread certainly isn't going to magically bring you back to the golden age when you and Rose romantically the clasped the bow of that large vessel.

Anonymous Wed Feb 26 19:12:34 2014 No.146323

>>136483
Because once you have upwards of a million dollars in internet monopoly money, where would you rather put it:

>one of your hard drives
Who knows when it'll just die on you.
>printing out your private keys
what about spilling shit on it and what about flammability, and how do you stop someone from taking what is essentially the password to your millions?
>MUH CLOUD
seems safer because of dropbox and whatnot

and so people store it on stranger's harddrives.

>>	Anonymous Wed Feb 26 19:14:05 2014 No.146337 >>146323 Blockchain web wallet. They don''t have your private keys. Amazes me that people don't know this, especially people with $10000+ in coins.

>>	Anonymous Wed Feb 26 19:16:34 2014 No.146346 >>146148 email me your bank account details

>>	Anonymous Wed Feb 26 19:17:04 2014 No.146354 >>146201 >dissing bob dylan

Anonymous Wed Feb 26 19:17:04 2014 No.146355

>>146309
Would it have been nice to have known about how much Bitcoin was going to go up back when it was pennies apiece? For sure. I missed that boat. Obviously you did too. Or you would have already became a millionaire off of it and not care what happens to the price at this point. But by the amount of bullshit and shilling coming from you I am guessing that is not you and you did not make millions off of it. You most likely bought in at $800 and are smacking yourself when BTC kept tanking. You reaaaaally want to believe it was a great investment but you just can't. There is too many people being brutally honest to you for you to escape your foolishness. The Bitcoin boat has sailed my friend. Swim back to shore.

Anonymous Wed Feb 26 19:18:33 2014 No.146358

>>146301

>Everybody is set to profit from it more except most banks.

Which is the main reason I don't see this succeeding.
They can impose all the possible bans on this whenever they want. And that's going to happen if they fail to regulate it.
By regulate I mean to monitor and tax the shit out of it.

This is something I already said to another guy at the beginning of this thread:

Bankers are most likely going to roll out their own crypto.
Something that they can monitor,track and profit from, it might not even be a real crypto, might just be a payment processor masked as a cypto or something along those lines, but at least they could provide a stable alternative to this.
Something I see the general public choosing over BTC.

And you're probably not going to agree with this, but I don't really find that such a bad alternative to be honest, as much as I hate the way banks are conducting their business, at least bank backed crypto would be secure and it would offer actual consumer protection.
Which I see as the one most important element.

On the other hand, bank backed crypto would be a lost cause, because it would essentially be another controlled currency.
Then again if Bitcoin is going to get regulations imposed onto it, then it's going to fall into the same category.

It's a very, very difficult situation.

Anonymous Wed Feb 26 19:19:33 2014 No.146364
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>>146231

Perhaps you're insane. You assume I and whoever else you are seeing in that fevered imagination follow or care close enough to form an opinion beyond 'it's crap'.

I am here simply for the lulz. Bit people spammed a board I visit for a month talking about btc reaching the moon.

Then it dropped after another heist. Again. I'm simply here for the schadenfreude and the medley of pitched rants from people like you. I just didn't know anyone was that dedicated to not just shilling, but fully incoherent shilling.

Anonymous Wed Feb 26 19:28:34 2014 No.146385

>>146355

Wrong again, bud. Check my thread history. I've been buying and selling buttcoins steadily from 08' onward. Would I have wished I wouldhave kept majority of them until late last year? Sure. But I also made a good amount of money (mid 5 figures) buying and flipping during dips and peaks along the way. Yes, for fiat.

Am I rich off this stuff? No. I've made enough to the point I could purchase another 125 buttcoins right now, lose them all...and still not take a net loss.

I just don't understand where all this misguided rage and 'die hard' vexation stems from? Like...did one of these neckbeards really come to your house and strike you down with the wrath of Chizkiyahu Epstein?

Anonymous Wed Feb 26 19:29:34 2014 No.146392
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>>146346

Come on mate, please help.

Let's imaging you have a problem with your car. You decide to Google it, and four hours later you're still none the wiser as to how to solve your problem? You're just going deeper and deeper into the labyrinth of web hits. Google is pumping out results from Yahoo fucking Answers and you're not sure who to trust. Some guy on a car forum posts a response to the OP, then some faggot replies that he's talking shit and instead you should do this, and then they start tossing insults at each other and you begin to lose the will to live.

Well you can be the man to help me cut all the bullshit. Make my day.

>>	Anonymous Wed Feb 26 19:33:34 2014 No.146408 >>146392 No, you antisemitic tripfag

Anonymous Wed Feb 26 19:35:34 2014 No.146415

>>146385
I am wondering the same about your rage? I am cool as a bird. I just don't know why you guys are shilling so damn hard. If you really believed what you were saying then you wouldn't need to sell it like a car. It would just happen. The reason you guys spam bullshit is because the value has been dropping a lot since last year and you are worried that your cash cow is dying. I'm the voice of reason only because I think it's wrong to try to convince other people to jump on a sinking ship just so they can help you dump water out of the bough (unsuccessfully I might add).

Anonymous Wed Feb 26 19:35:34 2014 No.146416

>>146148

Coinbase, but you won't be able to buy more than 0.1btc initially (though you can buy 1k worth, but have to wait 4 business days for the transfer).

Don't mind granmma and gramps...they're just staying here for the holidays. Soon we'll revert back to a state of normalcy, and they'll resume focusing their efforts defiantly hurling road gravel at the the Forex industry tank.

>>	Anonymous Wed Feb 26 19:37:34 2014 No.146424 >>146415 bough = bow

Anonymous Wed Feb 26 19:48:03 2014 No.146471

>>146415

Your mothman prophecies hold just about as much water as the 'to the moon' cries...so perhaps you should heed your own advice. I agree...just let what happens happen. But it's obvious everyone in this thread has their vested interests. The anti buttcoiners want to FUD it to hell with a shit ton of newb mis info and 'head for the hills!' sensationalism.

I think what transports my sides to a near state of rigamortis is that you guys seem to not realize that your efforts to bring down this burgeoning mechanism have been about as successful as the mt. gox debacle itself. As evident by the surge of newfags replying wanting to get in, even amidst the whirlwind of readily available news articles.

Ain't that 'bout a bitch!

>inb4 but you're putting a loaded revolver to their head and coercing them into this sick, twisted neckbeard cultfuckery

Anonymous Wed Feb 26 19:49:03 2014 No.146480
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>>146358

>Bankers are most likely going to roll out their own crypto.

>Something that they can monitor,track and profit from, it might not even be a real crypto, might just be a payment processor masked as a cypto or something along those lines, but at least they could provide a stable alternative to this.

I would agree with this. I think the main reason people are placing faith in Buttcoin is just to do with the ease of use, and the ease of transaction. I sympathize with the ideology, their main competitor is paypal which takes a 3.4% fee for basically doing fuck all besides transferring your money.

Bitcoin solves this problem to a degree, allowing verified and secure trading on money using p2p. The whole thing about anonymity .. I think that's just a side show. Normalfags like me don't give a fuck about staying anonymous while transferring money. Normalfags are not anti-Google chrome=botnet free software evangelists who store all their cloud data (holiday photos and word documents) on Trucrypt drives. What is making BTC take off isn't the anonymity.

Someone needs to invent a system of p2p system of payment that operates in a similar way to BTC, fit for the digital age. It needs to have low transaction fees for transfer and any kind of eur/usd exchange. There's no need for it to be a crypto. Something that is built in to the hardware of a smartphone so it can be used it day to day IRL transactions too.

Whoever invents this or patents will be a rich Plenty of industries in the digital age are living on borrowed time - an easy, quick, hassle-free system of micropayments is needed to save a lot of industries from withering and dying .. and fast. The internet is losing more jobs than it is creating, and a payment system can help halt that.

Anonymous Wed Feb 26 19:56:33 2014 No.146518

>>146358
It is always a very difficult situation for new technology to prosper when old dinosaurs try to stomp it out. It has happened many times throughout history that something like snapchat or Apple ends up taking a huge bite out of the establishment with disruptive technology. Their is absolutely nothing out there too big to disrupt. Banks do not have absolute power, but they certainly hope that you think they do. They are forced to adapt and change with the times when people demand it.

Metal coins started making less sense when you could print bills reliably and safely. Bills started making less sense when you could use a credit card to send money electronically. Credit cards are starting to make less sense now that you can send money through the internet cryptographically. Banks that have properly adopted the most resilient system have come out on top at each new turn in financial technology. This will be no different with bitcoin.

I am in this to get the best possible solution for finance into the hands of people who want to use it. I don't understand the attitude of the people who absolutely hate it. Sorry that you keep missing out on it and you don't care about getting any new useful technology to people who do want it. If I thought bitcoin had no significant advantage that would actually help people who deserved to be helped, then I would never say anything good about it. My honest opinion is that bitcoin will do that and also punish people that deserve to be punished at the same time.

If you can't see that, then I don't know what else to tell you. Do you think the big banks should just be allowed to keep doing business as usual like everything is fine? The only way you can send them a message at all is hurting them in the only place they care about, their bottom line. Like I said, the few early adopting banks will greatly benefit in the long term and the large number of ones who fight it will suffer.

Anonymous Wed Feb 26 19:57:03 2014 No.146522

>>146471
>everyone in this thread has their vested interests
I don't. No profit or loss for me. What you don't seem to understand is if I thought that there was actual credibility to the shills that say BTC will rise again I might even put my own money to it. I just can't though because there is too much evidence to the contrary. So the question is... Should people put more credence to the ones that have no vested interest and or the ones that have everything to gain or lose?

>>	Anonymous Wed Feb 26 19:58:03 2014 No.146532 File: 24 KB, 432x207, Theoden.jpg [View same] [iqdb] [saucenao] [google] >>146354 Well, it's true...

Anonymous Wed Feb 26 20:02:33 2014 No.146551

>>146480
>Someone needs to invent a system of p2p system of payment that operates in a similar way to BTC, fit for the digital age. It needs to have low transaction fees for transfer and any kind of eur/usd exchange. There's no need for it to be a crypto. Something that is built in to the hardware of a smartphone so it can be used it day to day IRL transactions too.

You just summed up bitcoin perfectly.

>>	Anonymous Wed Feb 26 20:02:33 2014 No.146553 File: 51 KB, 471x604, [tips marinara].jpg [View same] [iqdb] [saucenao] [google] I feel bad for all those greedy fuckers who didn't sell their shitcoins when they were worth a thou.

>>	Anonymous Wed Feb 26 20:04:32 2014 No.146567 >>146518 >Resilient John Robb pls go

>>	Anonymous Wed Feb 26 20:08:32 2014 No.146584 >>146522 Same here. No btc investment.

Anonymous Wed Feb 26 20:13:34 2014 No.146610

>>146522

Where is this so-called 'evidence' to the contrary? Did it break the 3xx barrier as the insolvency news hit news media outlets and flooded forums just like this and others like a shitstorm? No.

Did it rebound to a 'before the news' level? Yes.

If you really want to go by 'facts,' then perhaps you should read the charts and learn the numbers, as your anti-shill efforts are just about as laughable as the ones you choose you attack.

Nobody is chloroforming anyone here, Jimmy. And the market continues to speak, and continues to buy. I know that really sickens you to the core that all of these people are willingly chipping in their hard earned shekels into a system 'they' believe in, knowingly acknowledging the inherent risks involved.

Wish we could all live in this glorious contrived world of controlled markets and lack of free will that you seem to openly advocate, though. Seems like a damn cool place.

> capcha zen neegro

>>	Anonymous Wed Feb 26 20:16:03 2014 No.146624 >>146610 >read the charts Huh? All the charts all show a huge downwards trend after it hit $1200 and it keeps going down with only miniscule rebounds in between. Are you sure YOU are looking at the charts?

Anonymous Wed Feb 26 20:20:33 2014 No.146639
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>>146610

No, the market isn't buying. It hasn't been buying ever since we hit +1k

Also you don't seem to understand the effect stuff like this has on the credibility of the whole concept among the general public. It's fucking killing it.
Hell I know investors and innovators who just pulled out of this damn thing, not something even my pessimistic mind was expecting.

This Gox shitstorm hasn't even blown over yet. Not by far.

>>	Anonymous Wed Feb 26 20:20:33 2014 No.146640 Bleh, I'm just looking forward to the future of bitcoin once we get past the initial hurdles.

>>	Anonymous Wed Feb 26 20:21:33 2014 No.146648 File: 89 KB, 550x413, A good day for bad news.jpg [View same] [iqdb] [saucenao] [google] >>146610 >price is the only determination of stability and growth in a deflationary bubble

>>	Anonymous Wed Feb 26 20:23:03 2014 No.146658 >#MtGox=Service #Bitcoin=Protocol. If Gmail closed would email be dead? No because Gmail is a service & email is a protocol. via @Henry_Young Are people really this stupid?

Anonymous Wed Feb 26 20:27:02 2014 No.146671
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>>146584

Me too. I actually hope VC pulls ahead. What bothers me is the spamming and shilling and refusal to acknowledge issues like adults, and instead answering everything with more ad homs, "someday unicorn farts will power the world", and more, more, MORE endless shilling.

I can see a place for VC, a good one. But there are too many problems with it now and the shills wont address them. Not the least of which is incompetence and thievery.

At this point, I would sooner buy any smaller VCs just for fun than Bitcoin just because the most vocal Bit people itt seem patently insane and not the type I'd want to chat with in the coin forums. When VC issues get resolved, then I'd actually consider it something more than a novelty.

But as has been widely noted, fixing the issues that make VC useful are the same things that would kill its uniqueness. Regulation, for example (in broad terms).

I remember when ISK crashed. I told everyone it was a great time to buy. Few listened. I bought and did well. I didn't go to forex forums and rant madly at people who didn't see what was obvious to me. But then I don't trade on volatility either. I'm the tortoise lol.

My point just being that if people want to buy and VC for fun, good for them. But these nut-ass shills taking it as a cause with no answers really don't represent it well at all, and thats sad. Because I do think it has a future. But the shills don't want to hear any criticism. For them, it's already fine. Forget that if you go to 30 business outside your door and offer to pay with bit, they will laugh you out of the store. Or the transaction time. Or that few people want to deal in it period. Or that cash outs either dont exist or come with strings that diminish the concept of the VC.

No, for the shills, its all about BUY NOW LIMITED TIME OFFER WHILE SUPPLIES LAST TERMS MAY VARY PRICES SUBJECT TO CHANGE OFFER VOID WHERE PROHIBITED SOME RESTRICTIONS MAY APPLY SEE YOUR LOCAL DEALER FOR DETAILS

>>	Anonymous Wed Feb 26 20:28:33 2014 No.146678 File: 399 KB, 300x275, 1393217029937.gif [View same] [iqdb] [saucenao] [google] >>146658 >implying bitcoin is dead

>>	Anonymous Wed Feb 26 20:30:03 2014 No.146682 >>146678 But it is. Mtgox is just the tip of the iceberg.

>>	Anonymous Wed Feb 26 20:33:33 2014 No.146690 >>146532 anon please dont tell me you're an a n t i - s e m it e ?

>>	Anonymous Wed Feb 26 20:35:33 2014 No.146701 >>146682 k

Anonymous Wed Feb 26 20:40:32 2014 No.146723
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>>146671

Well said.

And in a way I can understand them.
It's easy as hell to lose yourself into these profits or crazy losses.

Almost happened to me too on many occasions, but I just told myself "Calm down and take a little reality check here."

Bitcoin is at a very critical point at the very moment and the crazy shilling sure isn't winning it any points.

Anonymous Wed Feb 26 20:41:32 2014 No.146728
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>>146639

>No, the market isn't buying. It hasn't been buying ever since we hit +1k

Constant $10,000,000+ buy walls on btc-e last night would state otherwise Then again, you probably weren't even on there nor cared to actually realize the price held strong, contrary to popular disbelief.

>Hell I know investors and innovators who just pulled out of this damn thing, not something even my pessimistic mind was expecting.

>implying he knows big players on the inside when he himself isn't even vested in this game.

My dad knows Michael Jordan.

Keep over analyzing 15 day dma's and stochastics like a silver futurist in a completely unrelated market mechanism.Your argument still holds about as much weight as an aspiring romanian camwhore.
>pic related, guess Confucious dun been wrong one too many times

>>	Anonymous Wed Feb 26 20:48:34 2014 No.146763 >>132730 >3.3M in lawyer fees He's ready

Anonymous Wed Feb 26 21:05:33 2014 No.146845

>>146728

How the hell are whales flashing big buy walls stating that we are going up long term?

The price has been coming down for the last 2 months, we had a quick strong drop that caused an insane jump.
That jump didn't take us higher than the original price, nor did we start going up after that bounce. We have been coming down ever since.
That's not a climb or recovery in my books.

>Waah waah, you're just saying this because you're not invested!!
Nice logic there. Not everyone who's invested in this is a mindless Shilling zealot detached from reality.

Oh I was there, and the only reason why we didn't drop below 400$ was that stamp whales flat out decided to stop selling.
I followed those guys constantly during the crash. They just fucking disappeared after touching 400$ and pulled their walls.

And I wasn't talking about big players you dipshit, where the hell did I say so?
God dammit I don't know if you're actually this fucking stupid or just pretending to be retarded.

It's irrelevant what few big players flashing buy walls do, they are already vested in Bitcoin. They aren't new money. They don't mean shit.

If general public is being scared away, among with tons of smaller investors who have something like +20k$ already invested, then have fun trying to pump this shit to sustainable +1k level. It's not going to happen.

Anonymous Wed Feb 26 21:17:02 2014 No.146905

>>146845
>I don't know if you're actually this fucking stupid

>Grampafags will continue to grit their dentures and pound their fists that buttcoinye and alts were that boat they were too autistic to catch, now they're relegated to kissing droves of stagnant bullion from listening to an overly paranoid SHTF 'silver futurist' downie on jewtube.

Anonymous Wed Feb 26 21:17:32 2014 No.146901

>>146845

>The price has been coming down for the last 2 months, we had a quick strong drop that caused an insane jump.

>Implying he is completely unaware of the china smackdown and chart drop correlation

Jesus christ, Captain Obvious. The price DID decrease from its 1200 peak...from the china smackdown, and now from mt gox. Negative press does influence markets. No one is debating that. However, you same oldfags that have been screaming 'speculative bubble' since almost a year ago continue to be proved wrong.

Did it die after silk road?

No.

Did it die after gook ban?

No.

Did it die after silk road 2.0?

No.

Has it died after largest sexchange just went face-down-ass-up?

Unless I'm wearing the same kind of autist goggles that you are, the chart @ over$550 (same price it stabilized to after the china smackdown) would suggest it hasn't.

Again. Where is your 2xx-3xx dollar prediction? So far, nothing.

'But I guarantee it!'

Get a fuckin' grip, Mr. Zimmerman. Go peddle your 'how I dominated market forecasts' e-book elsewhere, because you sure as hell haven't been calling shit in this thread.

>>	Anonymous Wed Feb 26 21:22:32 2014 No.146929 >>146905 >Implying the people you call grampafags, >you know, those of us that actually INVEST our money, >would "invest" it in silver or gold.

>>	Anonymous Wed Feb 26 21:23:02 2014 No.146940 >>146929 I was quoting one of h2Y3Gumt's previous gems of wisdom: >>141582

>>	Anonymous Wed Feb 26 21:25:32 2014 No.146949 What the fuck does FUD even mean

Anonymous Wed Feb 26 21:32:34 2014 No.146980

>>146901
I am not even in the same group of people that said it was a speculative bubble. I saw value in the Bitcoin protocol even though I personally never invested. What I see really is 2 groups of people:

>"Bitcoin will be worth a million each in 3 years!"
>"Bitcoin will be dead very soon!"

I think the majority of us lies somewhere in between. Anyone who says that BTC will be worth a million a piece ever is a damn liar. That would make the market cap at $12 trillion even though there is only $1.2 trillion USD in total circulation. So you're saying that Bitcoin will be worth 10x what USD is worth? Get real. On the inverse I don't think there are many people that think BTC will die entirely either. Even though it is on a nasty downward trend it will probably even out somewhere but don't try to delude people and say that it is likely to hit that $1200 mark again anytime in the near future, especially with all the bad press. The numbers and charts show exactly the opposite.
>'But I guarantee it!'
It seems like the only one who's trying to guarantee anything is shills like you.

Anonymous Wed Feb 26 21:34:33 2014 No.146989
File: 711 KB, 640x640, 1391675494883.gif [View same] [iqdb] [saucenao] [google]

>>146901

Die?
Where the fuck did I imply that it's going to die?

Do you think that 300$ per Bitcoin is dead? Yeah, this shows the delusion pretty damn well.
Also it shows that your attention span is non fucking existent.
If you are calling a total reversal at this point, which is still a part of a fucking bounce from a resistance point, then more power to you. You keep buying like a champ.

If you don't realize that this drop is a bit fucking different than those that happened before, then you're blind.
The media attention this is getting is insane and the matter isn't even resolved.

I'm talking about new money coming into the game.
If this managed to scare the public enough, then It's not going to keep pouring in.
That combined with old money pulling out, you have yourself a pretty shitty situation.

There's enough old money to keep the price flipping around for a while, but how long is that going to hold the markets up?

>>146905

I made 10k from this last year. I didn't miss shit.

I'm just a bit more connected to the real world and rather than thinking "Hurr durr to the moon! 40k per coin! next week" I'm thinking along the lines of what's really sustainable, and how is the public going to react.
You know, the people that are supposed to be pouring money into this.

>>	Anonymous Wed Feb 26 21:43:33 2014 No.147044 File: 82 KB, 259x310, oooo.jpg [View same] [iqdb] [saucenao] [google] I just realized someone actually bought the domain mtgoy.com back in 2011. Probably someone capitalizing on misspelled version of mtgox, still though.

>>	Anonymous Wed Feb 26 21:51:03 2014 No.147103 >>146949 Fear, uncertainty, doubt. Because it's not like it's warranted for this clusterfuck. >B-b-bu we wanted Gox to fail anyway!

Anonymous Wed Feb 26 21:59:33 2014 No.147141
File: 125 KB, 451x304, so good so delicious.png [View same] [iqdb] [saucenao] [google]

>>147103
I've finally got to see firsthand how ruthless, manipulative and delusional anarcho-capitalists are in pursuit of their "free society" currency.

They talk out their ass about freedom from government control while pumping and dumping alt coins. They talk about the new paradigm of currency while hoarding a speculative commodity. They've shown that the majority do not understand economics or business management. This is just a running gag of lying and incompetence.

Ancaps eat their own

>>	Anonymous Wed Feb 26 22:26:42 2014 No.147290 File: 32 KB, 400x267, simpsons_i-and-s_money.jpg [View same] [iqdb] [saucenao] [google] http://www.garynorth.com/public/11828.cfm Good read. >captcha Honedat perspective

>>	Anonymous Wed Feb 26 22:42:29 2014 No.147349 File: 2.94 MB, 350x268, mtgox.gif [View same] [iqdb] [saucenao] [google] >>144483 >>144520

Anonymous Wed Feb 26 23:21:17 2014 No.147533

>>134988

This. It's not anonymous and online retailers have no real incentive to take them over credit cards (unless they're selling drugs or questionable porn). The only reason why it was popular was a desire to get rich quick, which undermined its very reason for existing.

Having said that I still think that the idea has some mileage in it, so long as they find some way to keep the fucking speculators away from it.

Anonymous Wed Feb 26 23:27:15 2014 No.147559

>>147141
>Ancaps eat their own

Well yes, that's the idea of Anarcho-Capitalism. It's Social Darwinism, essentially- those who can't survive in the free market which, in its eternal wisdom, will choose the fittest individuals to make rich, don't deserve to live. The only reason to buy into such an idea is if you're already 110% certain that you are the strongest around which is more than a little arrogant.

Anonymous Wed Feb 26 23:32:46 2014 No.147586
File: 388 KB, 657x501, jiro-dreams-of-parnellcardell.png [View same] [iqdb] [saucenao] [google]

>>146671
I've not refused to acknowledge any problem that is brought up. Sorry that I keep throwing back the exact same answers and you refuse to accept them. You just keep recycling the same myths as if we haven't given solutions. What do you want to pointlessly mention next, blockchain size?

Just click on the ID number in this guys post and you will see a long history of him in this thread spreading exactly the same fud as the usual suspects. He said that virtual currency is useless and can't do anything new (it can) that other services can't do "just fine" right now, and then in his latest troll effort he says he likes virtual currency and wants to see it succeed. In another post he likened virtual currency to flushing cash down a toilet. He doesn't know much about cryptocurrency and doesn't want it to succeed at all. The latest strategy is the worst yet, saying that bitcoiners simply responding to threads full of disinfo artists like himself is a bad thing for the coin. As if setting the truth straight in a conversation is somehow a bad thing, but obviously for a man who doesn't follow his own word, that would be bad.\

You're not fooling anybody.

Anonymous Wed Feb 26 23:32:46 2014 No.147587

>>147533
It's the goldbug currency, bitcoin freaks don't understand your (correct) analysis at all, and are even opposed to it.

It's going to be "real" money with "real" value because muh magic market, which means it's going to be a good investment. It all makes sense to them.

Anonymous Wed Feb 26 23:37:46 2014 No.147615

>>147559

So... it's essentially the celebration of barbarism? What would essentially be called criminal and the general loathing of law, the will of the community because it obstructs the wholesale consumption, exploitation and predation upon the rest of their own herd, to wit, cannibalism?

Am I getting the upshot of it? I've sensed such a value set among some; I just didn't know it had a name.

Anonymous Wed Feb 26 23:43:45 2014 No.147643

>>147103
>B-b-but

No. We have tons of forum posts on several different websites, and even on 4chan, that have been asking for Gox to be closed since they started freezing their servers during the crash last April. We have been asking for this in increasing numbers the entire time they have been open. Don't try and pretend as if we are changing the story. You can click on our ID number and see how much integrity we have.

Gox closing was not an unexpected case of deadly food poisoning, where just a few cases among thousands of customers will scare away everybody. Gox has been irrelevant for a long time and only timid new money is selling right now at a loss.

Anonymous Wed Feb 26 23:51:45 2014 No.147676

>>147615
you've gotta understand, serious ancaps believe a lot of stuff, like police forces, could be administered more efficiently without a government. If there was need for a police force, people would hire an independent contractor to do it. If a big company needed roads, they would build them and charge people to use them, or the people and the company would enter into an agreement to jointly fund a road. Basically the idea is that the values and benefits of idealized Free Market Capitalism can be applied to much more than a simple economy, and can be invoked to create a system of governance without an actual governing body...just the invisible hand of the market to allocate resources where it is needed. The problem is that Free Market Capitalism, without an exterior controlling force, is prone to massive exploitation.

Anonymous Thu Feb 27 00:00:47 2014 No.147726

>>147643
>asking for Gox to be closed since they started freezing their servers during the crash last April
>We have been asking for this in increasing numbers the entire time they have been open
> Gox has been irrelevant for a long time
So you mean to tell me that Bitcoiners have been wanting MtGox closed since they even opened? And you wanted MtGox closed last April when they held 80% of total Bitcoin transactions? You didn't even stop to think that back then it would have absolutely killed BTC dead since the other exchanges were barely established and would have been unable to pull up the slack? That the only reason this last crash wasn't a total meltdown was because other exchanges have emerged and become more widely used? Up until at least late last year MtGox has been synonymous with BTC. They share members of BTC development team and both work hand in hand. The malleability issues were as much a problem with BTC as they were with MtGox. People think these issues were limited to one exchange but every single exchange had the same problem. They just didnt get hit as hard as MtGox did.

Anonymous Thu Feb 27 00:06:11 2014 No.147754
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>>147676

I see, thank you. It sounds ferocious. Even vikings had some law. It sounds like advocacy of perpetual war on fellow humans. I don't mean to suggest any moral judgements, since I don't know anything about it. I just mean it doesn't sound very pro-human, not to imply that any governance necessarily is.

I would confess that it sounds like topic matter requiring more education in terms than I have, and would humbly excuse myself with just that impression, that it seems ferocious, in a word.

g2g & ty Have a good evening/day.

Anonymous Thu Feb 27 00:14:50 2014 No.147787

>>147726
Yes, believe it or not lot's of people who were around since Gox opened hated the idea of having a centralized exchange. It goes against many of the principles of bitcoin and leads to the exact problems that Gox just went through, and that the big banks went through in the 2008 crash. Concentration of power breeds corruption at every juncture, and there were many outspoken critics against Gox the entire time. The criticism really turned into an anti-Gox stance in the community as a whole after so many people got burned in April. The media just kept repeating Mt.Gox as the de facto exchange which has been damaging bitcoin and enraging the entire community that is actually dedicated to bitcoin and not just in it for quick profits.

And no, the team at Mt. Gox is no longer a part of the bitcoin development team as you can see in the source I posted earlier. We knew all of this was coming sooner or later, and in a few months we will look back and laugh at all the fud.

>>	Anonymous Thu Feb 27 00:18:36 2014 No.147811 >keeping coins in an online site >ever >even "big sites" HOLY RETARDS

>>	Anonymous Thu Feb 27 00:36:35 2014 No.147897 >>147811 Thousands of people have been unable to withdraw their BTC for months and months. It wasn't by choice for many.

>>	Anonymous Thu Feb 27 00:39:35 2014 No.147909 >>147897 But people were putting hundreds of buttcoins in. Why the fuck would you do that

>>	Anonymous Thu Feb 27 00:39:36 2014 No.147912 >CTRL+A >CTRL+C >CTRL+V into CAPTCHA >Post >??? >Profit

Anonymous Thu Feb 27 00:40:36 2014 No.147913

>a decision was taken to close all transactions for the time being in order to protect the site and our users.
>ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information.

>Do not ask questions, we are looking after you

>>	Anonymous Thu Feb 27 00:45:52 2014 No.147941 >>147909 To sell for $1100 a piece.

>>	Anonymous Thu Feb 27 00:57:22 2014 No.147993 >>145609 You could suggest them to buy a mechanical register, as a backup.

>>	Anonymous Thu Feb 27 00:59:53 2014 No.148002 >>147993 Wow, that response took a while. Also they would just look at me like I'm stupid. They rely too much on their touch screen registers, and they wouldn't buy a normal one for the once-every-few-years power outage.

>>	Anonymous Thu Feb 27 00:59:53 2014 No.148003 >>145625 You can settle trade directly with bitcoin, but that's it. Imagine a future cashless society. Dollars, euros and friends are digital. How are you going to cash out anonymously bitcoins or gold?

>>	Anonymous Thu Feb 27 01:00:22 2014 No.148012 >>148003 If Bitcoin is both valuable and usable to purchase goods, you don't need to cash it out. You spend it. Example: porn, computer parts, and furniture can all currently be purchased with Bitcoin directly.

>>	Anonymous Thu Feb 27 01:06:52 2014 No.148037 File: 16 KB, 331x396, Second is the first loser.jpg [View same] [iqdb] [saucenao] [google] >>145925 B-but it still was the largest Free World exchange!

>>	Anonymous Thu Feb 27 01:25:51 2014 No.148129 >>146392 https://en.bitcoin.it/wiki/Buying_bitcoins

>>	Anonymous Thu Feb 27 02:49:05 2014 No.148460 http://www.bbc.co.uk/news/technology-26352442 > A leaked report - which Mr Karpeles has confirmed is authentic - said the huge theft had made MtGox insolvent. when the hell did he confirm this?

>>	Anonymous Thu Feb 27 02:54:35 2014 No.148463 File: 26 KB, 300x250, 1364240049128.gif [View same] [iqdb] [saucenao] [google] What do you think about the theory that Mark simply lost the private keys?

>>	Anonymous Thu Feb 27 02:56:34 2014 No.148466 >>148460 IRC interview with Fox News. http://www.wickedfire.com/shooting-shit/179038-my-conversation-mark-karpeles-mtgox-2.html#post2164682

>>	Anonymous Thu Feb 27 03:23:39 2014 No.148552 >>148012 >Spending bitcoin Nigga I can't think of a worse thing to do with it

>>	Anonymous Thu Feb 27 03:37:39 2014 No.148598 File: 87 KB, 640x512, 138159235559.jpg [View same] [iqdb] [saucenao] [google] >>148466 [12:04] <MagicalTux> Well, technically speaking it's not "lost" just yet, just temporarily unavailable kek the ultimate optimist

Anonymous Thu Feb 27 03:44:09 2014 No.148632

>>147587
Speaking of goldbugs.
Here in my country, importing gold coins is illegal. Of course, they don't open all packages at customs, and they almost never open envelopes.
I'm using bitcoins to buy gold. I get them sent in a discrete package, with a low declared price, from a country that is often ignored by our customs. I could make similar arrangements with PayPal, but the spread is a lot higher, and everything coming from America is suspicious to our customs.
So, bitcoins have served me well. However, I wouldn't hold any significant BTC amounts, because of price fluctuation.

Anonymous Thu Feb 27 04:02:26 2014 No.148679

>>148632
Then you are using bitcoins -as currency-, and so the price doesn't matter, only that it's stable from when you buy it to when the seller sells it.

Bitcoin is great -as currency-. Except it's not because of fucking stupid coin-bugs who think it's value is infinite.

Anonymous Thu Feb 27 04:14:55 2014 No.148695

>>147290
>good read
>right away goes to say that the creator of Bitcoin had a large amount of them hoarded and he promoted Bitcoins himself to make the value go up, and this is apparently a fact
>REAL money takes a long time to emerge and stabilize
>therefore BTC, which has been around for only a couple of years and is unstable, will definitely NEVER be an alternate currency, also since we already established that it's a Ponzi scheme since the creator is clearly hoarding a huge amount of BTC and coaxing others into investing we can definitely tell that BTC will not go anywhere as it's a Ponzi scheme and currencies can't be Ponzi schemes
>people also only ever buy BTC to hoard it
>only
>EVER
>literally no one uses it for buying things
It's a good read if you are completely buttmad about Bitcoins because the arguments it makes are completely stupid. Not that BTC is likely to be the big future currency but holy shit that article is dumb.

Anonymous Thu Feb 27 05:24:26 2014 No.148850

>>145839
The key idea behind Bitcoin (inexpensive transmission of money) is likely to endure. However, Bitcoin itself probably won't, meaning that most *speculators* in Bitcoin will end up losing money. Note the term speculators: they are not investors.

The reasons you list for why Bitcoin is worth betting aren't good enough. Everyone who knows anything about the VC industry today knows that they're not much better than speculative hedge funds. They're only investing in Bitcoin because they believe that a greater fool will buy them out.

As for the volunteers, of which you are one, they're the "true believers." Just a people were excited to go to Jonestown and drink the Flavorade, the true believers are willing to work for free that enough greater fools jump in to provide an exit. And exit is exactly what these true believers will do. Unless everyone starts using Bitcoin, you ultimately have to convert them to a real currency. The central banks are not going to allow encroachment on their monopoly lying down.

Only time will tell, of course. However, Bitcoin has all the elements of a bubble and I've studies bubbles now for over a decade. The only question will be what Bitcoin's ultimate price will be after the bubble pops for good.

>>	Anonymous Thu Feb 27 05:26:27 2014 No.148855 >>148850 >bubble pops for good have you studied Bitcoin?!?!??!?!?

Anonymous Thu Feb 27 05:29:56 2014 No.148864

>>146009
>Their family is part of the upper crust, the ultra-elite, for all intents and purposes royalty, and it is inconceivable that any of them would launder a paltry 2 million dollars on the black market.

That right there is reason to distrust the Winklevoss twins if you're pro-Bitcoin. Why would the elites offer an opportunity for non-elites to potentially surpass them? They are old money and old money never does things to undermine the status quo.

>Old money that are not crime families never do that unless it is on the scale of billions of dollars laundered directly through the international banking system.

"Behind every great fortune lies a great crime." -- de Balzac

Anonymous Thu Feb 27 05:34:58 2014 No.148880

>>146164
VCs will invest in anything that they believe will make money although in general, they'll try to invest in something that appears semi-respectable (which Bitcoin does.) However, VCs investing in a company doesn't mean it's a wise investment.

Have we forgotten the dot-com boom and bust where VCs stupidly threw money at just about any company with a .com domain name? These VCs are just piling in because they see a potentially big gain if they can get enough greater fools to buy into this.

Anonymous Thu Feb 27 05:49:56 2014 No.148913

>>148855
Not intently but I do understand the cryptography and distributed computing behind it having worked in those fields for over 10 years.

I don't know what the final price of Bitcoin will be but those calling for $1mln per coin are probably going to be sorely disappointed.

My personal feeling is that there is going to be at least one more run-up, likely a really big one.

Anonymous Thu Feb 27 06:09:29 2014 No.148961

>>148913
The internet companies, as a whole, losing 60-90% of their investment in huge crashes multiple times from 1995-2000 would have corrected the market and prevented a massive bubble, just like how bitcoin is going through these corrections and showing more resiliency each time. Look at how many fud headlines we are getting right now and yet this crash is still much more slow and stable than the previous ones.

Anonymous Thu Feb 27 06:16:58 2014 No.148968
File: 118 KB, 1958x1178, Muh_dotcom_Bubble.png [View same] [iqdb] [saucenao] [google]

>>148913
Here is the dotcom bubble in full. Please point to where the tech industry had a sudden and jarring correction of 60-90% repeatedly and rising again to new heights every time like clockwork.

>>	Anonymous Thu Feb 27 06:31:28 2014 No.148997 >>148864 >de ballsack

Anonymous Thu Feb 27 06:32:28 2014 No.149000

>>148968
I don't see the point of this question. There is no such period.

If that's your argument for why Bitcoin is not a bubble, it doesn't convince me. Mind you, I'm not going to be able to convince you that it is a bubble, either.

The price action on Bitcoin is very clearly that of a speculative bubble as I suspect you're aware. The Dutch Tulip bubble, the South Sea bubble, the Mississippi bubble, the Japanese Nikkei and real estate bubble, all had similar curves, especially when viewed in log form.

Bitcoin's run-up is quite similar to those bubbles. The only question is if it will mean revert. I'm assuming you think it won't whereas I think it will.

Bitcoin is supposed to be money but it isn't as others have pointed out. Its volatility makes it a poor measure of value for goods and services while its extreme deflationary bias (misplaced money is impossible to recover using today's technology) makes things such as mortgages and car loans practically impossible.

Finally, I seriously doubt the central banks of the world will allow a non-sovereign currency to usurp their privilege of seigniorage, something wars have been fought over.

Anonymous Thu Feb 27 06:56:22 2014 No.149042

>>149000
The dot-com industry never went through multiple panic stages. It was literally just years of straight-forward blind optimism with absolutely no massive corrections until the whole thing finally popped and lost 75% of it's value. Before the one crash, there were never headlines like "Largest Internet Exchange Loses Half Billion in Customer Funds Forever", "Internet Mostly Used by Child Pornographers and Drug Dealers", "New Virus Will Kill The Whole Internet". Sure there were bad viruses and shady websites that got news coverage very rarely, but the mainstream media did not once, not on a single occasion ever suggest that the whole concept of the internet was criminal or just plain evil. Overall, the image we were fed of the internet was very positive throughout the entire build up of the bubble.

Bitcoin has had to deal with so much worse shit than anything that happened during the entire dot-com bubble. The fact that it keeps bouncing back to 10x the previous bottom is just unbelievable if you add up all of the negative stories. That is why the logarithmic chart does not resemble the dot-com bubble at all, but rather it looks like 4 bubble that are all bigger and reaching the next order of magnitude as expected from previous performance.

Anonymous Thu Feb 27 07:15:52 2014 No.149103
File: 218 KB, 2152x2542, Muh_dotcom_Bubbless.png [View same] [iqdb] [saucenao] [google]

>>149000
Here is the logarithmic chart for both Bitcoin and the dot-com bubble. I lined them up with the time scaled as best as I could to show the peak of both "bubbles", and how is following a logarithmic growth with proper corrections along the way and the other is one of unwarranted optimism.

>>	Anonymous Thu Feb 27 07:16:51 2014 No.149107 File: 114 KB, 2706x1308, bitcoin-chart.png [View same] [iqdb] [saucenao] [google] >>149103 i have a better chart :^)

>>	Anonymous Thu Feb 27 07:19:22 2014 No.149113 File: 558 KB, 681x633, 1364068624611.png [View same] [iqdb] [saucenao] [google] >>149107 Good analysis, g-go-guy :^)

Anonymous Thu Feb 27 07:52:25 2014 No.149184
File: 32 KB, 511x286, Conan2000 .jpg [View same] [iqdb] [saucenao] [google]

Just noticing that discussion seems to be centered on the idea of btc as some sort of investment, not currency. Anytime it is mentioned as a currency, the discussion seems to veer towards questioning its acceptance (the definition of currency) or it's volatility (not useful as currency). This degree of haggling is seen in barter trading, not currency. If you have to argue if something is worth accepting, it isn't currency. At best, it is just trade.

Then there is the discussion of it as an investment.When a commodity has a strong future, there isn't this much argument. Where you do see so much argument is where you would expect to see it; when shills are hard selling something that isn't obviously attractive.

When Baldwin did the "Coffee is for closers" speech, it was amusing. When online bitshills put it into practice, it just comes across as a mix of funny yet sad.

"The biggest exchange just turned to shit!.....

"..... This is great, because.....(fill in shill logic here)"

The few shills in this thread are working it a bit over the top though. As one shill himself speculated of another above, they could actually be deliberately trying to appear retarded to make btc look so foolish that no one wants to associate with it. It's certainly working on me.

"Say, shill. How is something supposed to work as a currency when it's exchange value doubles and halves in less than a season?"
"OMFG GRAMPS YOU ARE SUCH A LUDDITE IN THE FUTURE BITCOIN WILL POWER WARP ENGINES TO VISIT PLANET MARKLAR AND SAVE THE TRUFFULA TREES IT WILL BE GLORIOUS! RON PAUL 2032! UNICORNS AWAAAAAAAAY!"
"...okay... "

>>	Anonymous Thu Feb 27 08:12:41 2014 No.149223 >>147643 >Gox closing was not an unexpected case of deadly food poisoning, where just a few cases among thousands of customers will scare away everybody. In this analogy a few cases was about 32% of the trading volume for all exchanges combined.

Anonymous Thu Feb 27 08:12:42 2014 No.149221

>>149184
Nobody can help you if you cannot get past the fact that bitcoin goes far beyond any single word that you try to pin on it. We have heard your semantic game before and it never changes.

>if you can't tell me right now, at this moment, exactly what your new technology is and is not, defined only with preexisting words to absolute perfect accuracy, then it is no good

We've gone over this before. Sorry you just don't ever seem to make any mental progress on this issue. It looks really bad when every single new revolutionary techology goes through this stage very reliably, and yet most people have such bad memories.

"What the hell is that thing?"
"It's sort of a cross between a horse, a buggy, a plow, and an electric generator. It's kind of like a steamboat that goes on land and is powered by gas. We call it an automobile."
"Wait, it doesn't eat hay like a horse, doesn't have as much room as my buggy, and who the hell needs electricity anyway? Plus, my horses never break down, and if they do they don't cost a fortune to replace. There is simply no need at all for this nearly indescribable au-to-mo-biley-thing."

You are just going to have to step past that and deal with something that you cannot completely define every single aspect of right away. It is called being new, and bitcoin is still very much in the new stage. Like I said before, just keep doing what you are doing in life. We will figure out how this can make your life better for you and get back to you later just like the computer geeks did.

Anonymous Thu Feb 27 08:21:42 2014 No.149233

>>149221

The earliest automobile: "It's a personalized train that doesn't need tracks. Replace your horse with it."

The earliest computer: "It's a device for solving math problems. Replace your slide rule with it."

Bitcoin: "It's a deflationary Internet currency that is accepted by vanishingly few merchants and is not backed by anything- not even government. Don't replace your money with it."

>>	Anonymous Thu Feb 27 08:23:11 2014 No.149239 File: 257 KB, 1914x1328, GoxerPanic.png [View same] [iqdb] [saucenao] [google] >>149223 The price doesn't not seem to indicate everybody running away. It indicates amateur players panicking and some serious players wiping the blood off the streets.

Anonymous Thu Feb 27 08:31:41 2014 No.149252
File: 39 KB, 640x587, dell-dude.jpg [View same] [iqdb] [saucenao] [google]

>>149233
>The earliest automobile: "Why would I want a really weak and expensive train that smell of highly-concentrated deadly fumes when my horse is more capable, easy, and pleasant to use?"
>The earliest computer: "I barely ever use calculators or do any math. I hate doing math just like most everybody, and you want me to pay how much so that I can do more of it? Yeah, no thanks."
>Bitcoin: "It's a cryptographically based form of commodity that can also be used as a currency very easily, much unlike gold. Replace some of your money with it for transactions where cash/credit is a big hassle or just simply impossible to use."

Anonymous Thu Feb 27 08:38:12 2014 No.149265
File: 67 KB, 796x614, BitcoinAdoptionBrickandMortar.jpg [View same] [iqdb] [saucenao] [google]

>>149233
>vanishingly few merchants

This fud really kills me. For somebody actually wanting to improve how the world works, desperately trying to help redistribute power out of the hands of the banksters, and then being met with so many completely fabricated lies is really great for learning about human nature.

>muh vanishingly few businesses

Please, just look at the picture of how all of them are "vanishing".

Anonymous Thu Feb 27 08:40:11 2014 No.149271
File: 29 KB, 350x346, 1384964452804.jpg [View same] [iqdb] [saucenao] [google]

>>149221

People have pointed out very important flaws and problems here, and you guys just ignore them by saying:

>It's new you just don't understand it. Just like all new technology that went mainstream and succeeded.

Just because this is something new, it doesn't mean that this is going to places.
Most new tech fails, only few things actually make it.
Like you said, it's still very much in the "new" phase and it's getting fucked by the media left and right. Not a very good thing to happen when you are just gaining massive media attention and trying to get this thing off the ground.

The only reason why people are buying this thing, is because it has gone up in price.
It's just a get rich quick scheme at the moment. A greater fool kind of market.

There's no reason that Bitcoin or any of the current copycat alts should be the virtual currency to make it.
Bitcoin is just the strongest because it's the first one of it's kind.
Yeah, sure there was the "e-gold" or whatever, but that's irrelevant atm.

I think it's going to die and is going to be replaced with something that can actually be effectively regulated and something that offers actual consumer protection, instead of:

>"Well you just botched that trade, tough luck. We can't get you your money back, and it's lost forever.
or
>"Oh look at that, someone hacked our site, well those Bitcoins are fucked"

Which is a major problem.

If it can't be regulated, it's not going to get a green light from the government or the banks.
That's a fact that can't be argued with.
Governments and banks aren't going to allow some multi billion dollar business to operate unregulated just under their noses.

And don't even start with the "well the people will use it!"
No the majority won't use it. If the government or TV says that Bitcoin is bad and dangerous, then it is and no one is going to touch it outside of some anti-gov anti-bank people and money launderers.

>>	Anonymous Thu Feb 27 08:40:13 2014 No.149270 >>149265 Would you like a side of sauce with those chips? http://coinmap.org/

Anonymous Thu Feb 27 08:46:41 2014 No.149286

>>149221
Bitcoin has showed us that there is a market for these types of currencies, though they seem to be more useful for international transactions, particularly for currencies that are unstable.

Where do you think bitcoin is, in terms of Gartner's hype cycle?

http://www.gartner.com/technology/research/methodologies/hype-cycle.jsp

Anonymous Thu Feb 27 08:55:45 2014 No.149306
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>>149221

I did put word on it.

"Shit."

Seems no matter how verbose or pithy I am, shills can't read anything that concludes the state of btc is shit.

It's not new technology. It's been half a decade if it's been a day, and this is where it is- endless scams.

I have compassion for those buying it as anything but novelty. But for those shilling it, they are either fools or frauds.

>horse buggies
>We will figure out...

Again, maundering on about the past and future. Why are bull-shitters - forgive me- bit-shillers in love with the past and future yet can't manage present reality? Is it because reality can be observed by more than one witness and be interpreted by consensus?

Wouldn't it suck if the majority aware of bitcoin today observed heist after heist of a "currency" that is only spent in arcane corners, perpetually stolen with no backing or security that really amounted to nothing more than a narrative they gave up their cash to be involved with after hearing web shill blather on about how this 'currency' would make them rich despite a suspicious dearth of places to actually revert it to cash?

Automobiles indeed. Pic related. After someone shilled this contraption as the next great thing in transportation, it really took off to become wildly popular as the 'automobile'.

It's first shill however, died in poverty, the inventor. The aforementioned popularity of automobiles was still about one hundred-seventy years away.

Should it surprise anyone but bit-shillers that perhaps the reason was a basic lack of working technology and organized distribution.

By all means. Tell "Gramps" more wondrous stories about the past and dreams of the future.

Anonymous Thu Feb 27 08:57:14 2014 No.149312

>>149271
>If the government or TV says that Bitcoin is bad and dangerous, then it is and no one is going to touch it
I wouldn't be so sure. There are medical and now recreational marijuana dispensaries operating in states across the country despite the fact that we were taught in school that marijuana was a gateway drug that causes schizophrenia, and there's the fact that federally it's still illegal. Popular demand can sometimes be contradictory to PR. Since when do people truly give a fuck what the government thinks?

Anonymous Thu Feb 27 09:00:45 2014 No.149320

>>149271
You are proposing that the fact that bitcoin does not entirely fit a definition of a single already-existing word or group of words is a major, major problem. In your mind, to call it a cryptocurrency means that it has to 100% match the definition of what would be cryptographic and a currency, and it could not possible have a major chunk of the definition to mean money, store of value, commodity, or anything else. It has to just be exactly and only crypto+currency or you cannot seem to understand it at all.

This is a problem only for you. You know how much the average person cares about that problem? When was the last time the average computer user did any actual computer of numbers using their machine?

Thanks for bringing up e-Gold, as that is the perfect example of why a centrally controlled alternative currency would never work.

>If it can't be regulated,

How many times to do I need to keep mentioning Germany, New York, Sweden, Canada, California, England...bitcoin is being regulated as we speak. Japan is currently working out the issue of that as well.

http://www.chicagotribune.com/business/sns-rt-us-bitcoin-mtgox-japan-20140225,0,1408545.story

You have admitted several times in this thread that you see no value in spending time speculating on new technologies. You essentially see them as unpredictable to such a degree that betting on them is never profitable. Warren Buffet thought exactly the same thing and he made exactly zero money from the dot-com bubble and the subsequent healthy rise of e-commerce. I guess you can feel good about being in the same boat as him, but don't go around arguing about a possible inability to be regulated when the regulation process is actually going perfectly to plan.

Ben Bernanke, for crying out loud, gave bitcoin a complete thumbs up in an official statement as he was walking out the door as Chairmen.

http://www.businessinsider.com/ben-bernanke-on-bitcoin-2013-11

Anonymous Thu Feb 27 09:04:31 2014 No.149341

>>149306
>If it's not a success at this very moment, then it definitely won't be, or at least not for many, many years to come.

I have pointed out tons of advantages and killer app uses for bitcoin that are functional and working well today. If you only want to focus on the bad apple fud in the news and never think about the past or future, that sounds like poor way to live.

>>	Anonymous Thu Feb 27 09:05:30 2014 No.149343 >>149271 Current P/E ratios for stocks nowadays are not looking good. I'd say stocks are in a bubble now.

Anonymous Thu Feb 27 09:18:00 2014 No.149391
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>>149341
>poor way to live

An interesting choice of words from someone who lost half the value of the crap they are shilling for.

Either you cashed out, in which case you saw the same thing as everyone else.

Or you stayed in and are among those who took the biggest haircut with btc since Enron.

Either way, you are shilling hard here, which is as obvious as it is suspect.

>>	Anonymous Thu Feb 27 09:21:59 2014 No.149407 >>148850 >studied bubbles for a decade now interesting, what do you do as a profession? can you recommend me any books (e-books would be nice) to read about the psychology of economic bubble?

Anonymous Thu Feb 27 09:26:59 2014 No.149425
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>>149312

Drugs are a different thing. Government is making tons of money off them in the background.
They want them to exist.

People still work 9 to 5 without a complaint and are getting screwed over by big businesses and banks. They are taking loans and are living in constant debt. They are just sheep and I can guarantee that they do whatever the all mighty TV and Government is telling them.

>>149320

No, I didn't propose that.

I'm talking about Bitcoin here.
Bitcoin, not the idea of Crypto currency, which itself is a great idea.

You too seem to be talking about the idea that's Crypto itself, not Bitcoin.
You're just using those two synonymously, when they are two very different things.
You probably just haven't realized it.

There are way too many flaws and problems with Bitcoin, all the flaws can be found in this thread, and very few of them have been addressed.

And by regulation I mean banks and governments getting in on the action and profiting from this. That's what regulation essentially is. This kind of thing is hard as fuck to profit from, and thus I don't see it gaining government and bank supported adoption. The regulation is just too easy to bypass.

We could buy stuff worth of 45€ from abroad without paying any tax. Government calculated that they were making too big of a loss and lowered that to 22€. Now you can't order anything outside EU without paying tons of taxes.

Now think about that for moment, government was willing to go to great lengths just to get hold of this small income. It took them quite a while to get this amount lowered, but they pushed hard to do it. And in the end they got through.
If you think that they are going to let something potentially as big as Bitcoin to slide, then you are wrong.
They sure as hell wont.

I made 10k from this already, I haven't missed a thing. I'm doing well and still trading what I haven't cashed out. So you thinking about me as coin hating shill, is a idea you can scrap right here.

>>	Anonymous Thu Feb 27 09:31:00 2014 No.149441 >>149425 all that typing and no info being relayed.

Anonymous Thu Feb 27 09:33:29 2014 No.149450

>>149391
Eventually you will come to know and appreciate the effort that cryptocurrency pioneers have put forth in order to improve the world for you. Either that, or you will keep talking about how stupid computer nerds have always been as you post about it on your social network.

The poor people around the world who will never own any other computer than a mobile phone, bitcoin has been proven to help them send hard-earned money to their relatives and save as much as 40% of their paycheck in remittance fees. Sorry, but just that one single use alone is enough for any human being to want bitcoin to succeed forever.

It is sad that all you see in this is greed. The one financial tool that has any method at all of bringing the world economy into the hands of the majority of the world, and you just think I am trying to make more dollars for myself? Some of us actually care about the lives of others.

I love knowing how you will respond to the bitcoin PR campaign when it is fully co-opted by BoA, Paypal, and Amazon and you see commercials on TV of all the cool new things that it makes possible. I hope when the smiling African oil worker says "Now it only costs me 1% to send money home instead of 40%" that you cringe and remember this post.

Anonymous Thu Feb 27 09:41:31 2014 No.149484

>>149265

The thing is bud, this graph reminds me a bit like piracy in the music industry.

A very, very small amount of artists benefit from piracy, usually those that get in early and make the most of it. Example, Lily Allen on Myspace, that "We President Now" rapper who gives his shit away for free online, a few who can adopt viral marketing campaigns, etc

Right now it makes sense to for companies adopt BTC because of all the publicity they get from it, the positive PR, which results in an increase is positive brand image and in the short term at least more sales.

Anonymous Thu Feb 27 09:42:00 2014 No.149488

>>149425
The problems that people are bringing up are either mot problems of bitcoin, are already solved, or are being solved right now.

1.MtGox wallet losing transactions = their software not using blockchain confirmations for transfers, not a problem of bitcoin itself at all

2.Blockchain Size = distributed blockchaining is already in effect, pruning is also completely possible if necessary, and forking can occur to make a true Bitcoin 2.0.

3. Lost coins, If it eventually does become a problem for the functionality. Actually making Bitcoin 2.0 would be easy as dirt. Just set the mining to give out 12.4 million coins instantly to a decentralized exchange where any current user can trade exactly one bitcoin for one bitcoin 2.0, and have the marketplaces replace them automatically as customers spend or send bitcoins through them.

The community is not one to put it's head in the sand and ignore problems. We have a great track record of this, but of course some incompetent centralized exchanges have not.

>>	Anonymous Thu Feb 27 09:44:01 2014 No.149504 >>149488 Would it be possible to upgrade BTC's protocol from SHA-256 to SHA-3 as well?

Anonymous Thu Feb 27 09:46:03 2014 No.149514

>>149425
Sorry for using the terms cryptocurrency and bitcoin interchangeably. It is very easy to do with the current market share.

My view on the two as seperate entities is that cryptocurrency are absolutely certain to now be a part of human existence for a very long time, and bitcoin does everything that is most important about a cryptocurrency. Bitcoin is ready, but the world will catch up to it in about 2-3 years.

Anonymous Thu Feb 27 09:46:03 2014 No.149515

>>149450
I own a majority stake in about 5 derricks in Africa. Let me tell you, that worker smiles when I tell him to smile and he damn sure isn't wasting his money on bitcoins because I'm not going to deal with his miserable wretched African self when he begs me for money because scammers took his last paycheck

Don't tell me this is for the poor and don't even dance around the idea that it's ethical to sell a scam "for the poor"

Anonymous Thu Feb 27 09:53:03 2014 No.149534

>>149484
Everything in life works out in a pyramid. The earliest adopters of anything that later becomes a success reap the most benefit, by a huge margin.

The first bank in the USA to offer bitcoin services will see a massive move into position as a market leader in the entire financial world. You can bet there are some defectors at BoA that would love nothing more than to use bitcoin to step all over JP Morgran's throat, and they will do it as soon as the regulatory fog is cleared.

>but muh fog, so uncertain

It is being actively cleared right now all over the world. If you could just have a little patience, I promise it will go quicker than expected.

Anonymous Thu Feb 27 09:57:33 2014 No.149553

>>149504
A complete reset of bitcoin would be needed. You just fork the software with an insta-mine of the exact amount of bitcoins currently in circulation, then you send them to a decentralized exchange and have people change out their current bitcoins. This would be technically simple, cheap, and fast. We are nowhere need seeing any possible need to do this for at least a century to come, but it can be done whenever needed.

Anonymous Thu Feb 27 09:59:03 2014 No.149569

>>149534

Why, if anything you're saying is true, are you shilling so hard, then? If your cryptocurrency is the inevitable wave of the future and not a footnote in the annals of computing history, why do you need us to believe in it so badly?

I'll answer since you won't: Because belief determines its worth. If nobody believes in it (and very few people really do), it's not really worth anything.

Anonymous Thu Feb 27 10:00:03 2014 No.149574

>>149515
You are scamming the poor by not helping to develop, even passively, a system that will allow them to take part in world commerce just as freely and without outrageous fees as you and I. There is absolutely no reason workers in shitty places should pay up to 40% of their income to a transfer service while you pay nothing. You have clearly shown you do not have their best interest in mind, and I sincerely hope your attitude on that changes soon.

Anonymous Thu Feb 27 10:02:33 2014 No.149583

>>149450
>bitcoin PR campaign when it is fully co-opted by BoA, Paypal, and Amazon and you see commercials on TV of all the cool new things that it makes possible

Yes, in a decade or more that would be plausible when they develop some meaningful reason to switch. Right now credit cards are significantly better in every single way except for a small difference in transaction fees. Banks and credit card companies don't see bitcoin as a threat to their business.

>>	Anonymous Thu Feb 27 10:06:33 2014 No.149602 >>149450 Was also proven how those poor people on mobile phones handled the blockchain?

Anonymous Thu Feb 27 10:08:32 2014 No.149613

>>149569
Shilling would be me trying to sell you on bitcoin. I am spreading truthful information. You can click my ID and read any of my posts to prove that to yourself. Here is the logic:

P1. Bitcoin does provide new and useful utility that can significantly improve life for millions of people
P2. Spreading lies that make bitcoin itself look like a scam hurts the future of bitcoin.
P3. I like to help the world.
C1. Therefore, I like to counteract the lies being spread about bitcoin whenever I see them.

When /biz/nessmen stop pushing around disinfo then I will stop pushing around info. It has nothing to do with shilling. I have provided more sources and truth than anybody else in this thread, and that says something about bitcoin whether you want it to or not.

>>	Anonymous Thu Feb 27 10:09:33 2014 No.149618 >>149602 You don't need to download the blockchain anymore. I went over this a few minutes ago i this thread.

>>	Anonymous Thu Feb 27 10:10:32 2014 No.149621 >>149569 Belief determines worth for everything, including legal tender. Hyperinflation can be defined as complete loss of faith on money; people pass it over as fast as they can. >>149618 I know, but this is a very recent development.

>>	Anonymous Thu Feb 27 10:11:19 2014 No.149626 >>149583 they might force them to reduce their transaction fees, which would be a good thing

Anonymous Thu Feb 27 10:16:49 2014 No.149646
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>>149621
https://electrum.org/

First cloud-blockchain wallet for bitcoin, open source released in November 2011.

So who is the shill in here, me, who keeps repeating fact after fact with sources, or the other anons who keep repeating lies like the blockchain size being a problem for downloading?

I am thoroughly convinced that anybody can see the difference at this point.

>>	Anonymous Thu Feb 27 10:18:48 2014 No.149660 >>149646 I didn't know this system was available since 2011, point for you. But, this still makes bitcoin more centralized. Most computing devices people own in the future will be mobile units.

Anonymous Thu Feb 27 10:21:19 2014 No.149672

>>149534

How do you translate that to the music industry? Are you saying that a select few are currently benefitting, but in the long run, all adopters will benefit? Because it's become clear that isn't the case. We've had 15 years of Napster and torrents, and industry revenues have just bottomed out after falling for a decade.

Again, the first bank to adopt BTC will benefit due to the novelty aspect, the PR, and branding/marketing issues. The second, maybe. They can't all adopt it and expect to benefit, because the old model suited them a lot better, just like why the music industry clinged on to falling CD sales and didn't adopt mp3s because they knew they would make more money that way.

Anonymous Thu Feb 27 10:22:20 2014 No.149679

>>149626
That has already happened also.

http://www.bloomberg.com/news/2013-07-30/western-union-profit-falls-27-on-lower-transaction-fees.html

Western Union is still seeing profits drop. Their stock is set to plunge much lower this year because of it. They can use bitcoin instead of their own network, and eventually that looks very likely to be the only profitable solution.

>>	Anonymous Thu Feb 27 10:24:19 2014 No.149687 >>147676 I love it when they deny that having people hire PDCs wouldn't just result in tyranny/a pseudo-state

Anonymous Thu Feb 27 10:26:19 2014 No.149697

>>149660
Steps will be taken to always ensure decentralized storage of the blockchain. I have talked about the bloat in this thread and a few of the many possible solutions to it. Nothing is 100% centralized or decentralized completely, it just so happens that compared to every other payment network available, bitcoin is extremely decentralized. The important part is that control of bitcoin is decentralized, and if a million users each download 0.001% of the blockchain onto their personal device, then I would are that is fairly decentralized even in a billion users don't download any of it.

Anonymous Thu Feb 27 10:31:18 2014 No.149720

>>149672
How much are you benefiting from using your computer right now? I would argue there is a ton of benefit, even for somebody who just got started with email and ebay this afternoon. There will always be an incentive for businesses and customers to use cryptocurrencies. Early adopters take the most risk, by far, and they get the most benefit, but everybody who joins will get some benefit, no matter how late. What exactly is your argument about that?

Anonymous Thu Feb 27 10:32:48 2014 No.149730

>>149569

Regurtitate moar, gramps.

$570 dollars per btc after easily 'the worst' black eye PR shitstorm announcement proves that 'plenty' of people still have belief in this virtual kiddie land oligarchy.

Why must your counters be shot down so quickly, Maverick?

And 20 some odd million buttcoins is nothing in the landscape of a worldly macro perspective. Matter of fact, it's basically nothing.

So you go ahead and stick to stacking all your blind faith into them purrdy gubment issued promisary notes with a couple some odd trillion yearly cap.

We're doin' just fine, spank you very much.

>>	Anonymous Thu Feb 27 10:50:18 2014 No.149819 >>149730 The Gox affair is still hanging unsolved. The final solution to it, whatever it is, will have an impact. Disclosure, I only use bitcoins to buy small gold coins (poors gonna poor), my wallet balance is less than 10 bitcents.

>>	Anonymous Thu Feb 27 11:32:19 2014 No.150034 >>149819 Gox is most likely going to keep dragging this on for months with vague promises

Anonymous Thu Feb 27 11:45:48 2014 No.150112
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>>149730

You have nerve to talk about regurgitating.

Anyone who points out flaws in btc, you ad hom with 'gramps' implying experience with upstarts is ignorance while your 'new' digital slum is somehow has the virtue of running several years of testing and still floundering about.

Then of course the zealots spiel: actual money is somehow the tool of 'the man' yet please surrender it to bitcoin as soon as possible. And then naturally the obligatory indictment of the government (regardless of country) and "the system".

My favorite part is the trite attack on banknotes being built on faith while you BEG people to believe in the wonders of some narrative about bitcoin so your bitcoin gets propped up by taking more of the banknotes you deride.

As a sidenote; the 'gramps' bit is a little creepy, since I am one. Twenty-somethings have no real sense of their youth, so relying on age invectives to ad hom doesn't occur to them.

Which suggests you are aging yourself and misrepresenting yourself out of insecurity about your future equal to the hysteria you are shilling Bitchoin with.

And thats creepy. Especially when you are pushing a system loved so much by pervs it could be called pedo-bux.

Anonymous Thu Feb 27 11:57:19 2014 No.150173
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After some thought and research I am now certain that Roger Ver and Mark Karpeles are genetically related. See pic. Same ears, same nose, same chin, same hair and hairline. Eyebrows are almost identical though Mark has slightly trimmed his. Mark looks slightly different now due to being fatter, but this is him.

>>	Anonymous Thu Feb 27 12:12:20 2014 No.150244 >>150173 interesting

Anonymous Thu Feb 27 12:16:48 2014 No.150259

>>150112
>it could be called pedo-bux.

This is why he calls you gramps. You are always behind the times. People pay for pedophilia with cash and barter also, bitcoin is not special in any way except that it is a lot easier to track than cash. It is actually a law enforcement dream. Criminals can keep doing black market with shitty alt coins and underground exchanges. Police catch average plebs more easily than they used to by tracking transactions, and the smart criminals can still run the market and give the cops enough arrests for their monthly quota.

Bitcoin will expand to large international cartels next who trade alt coins for bitcoin to hide sales. And of course the FBI can easily 51% attack an alt coin and use it to botnet an entire drug/porn ring once they start passing those coins around. It would actually give them a lot more information than trying to find all the computers of all the cartel members one-by-one.

My point is that there are a lot of ways to use this new tool for everybody, and many that have not yet even been thought of thus far.

Anonymous Thu Feb 27 12:30:40 2014 No.150305
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>>150259

>bitcoin is not special in any way except that it is a lot easier to track than cash.

>bitcoin is not special
>bitcoin is not special
>bitcoin is not special
>bitcoin is not special

I really don't have anything to add. The pic and greentext will have to do; the rest is obvious for anyone to intuit.

>>	Anonymous Thu Feb 27 12:37:10 2014 No.150337 >>150305 >taking words out of context >missing the context >context That is just about the cheapest way to ever try and imagine you have an argument.

>>	Anonymous Thu Feb 27 12:38:41 2014 No.150340 >>150173 maybe THEY'RE THE SAME PERSON

>>	Anonymous Thu Feb 27 13:39:40 2014 No.150662 wtf? according to /biz/ this was suppose to burst and possibly, tank. the lowest bitcoin hit was more or less 400 USD. Now it's at 580 USD. christ, i'm not listening to you faggots anymore.

>>	Anonymous Thu Feb 27 13:50:16 2014 No.150724 File: 37 KB, 745x637, 1342331465948.jpg [View same] [iqdb] [saucenao] [google] >>150662 >price 29% below one month high Do you expect a deflationary currency that is having volume issues to immediately lose all of it's value?

Anonymous Thu Feb 27 13:56:16 2014 No.150754

>>150662
A return to the mean would be between $300 and $400. Bitcoin isn't going to be completely worthless unless the US and Japan outright ban it; the China and Russia bans and the Gox debacle have basically set adoption back to the levels of last October.

The main question at present is whether Bitcoin can weather the negative press sufficiently to sustain current prices; with the amount of coins mined, BTC needs an influx of two million dollars a day to stay at $580.

>>	Anonymous Thu Feb 27 14:41:46 2014 No.151050 I wish I knew why people were buying at 600... There were like 2 dudes here, 1 bought at 615 and the other at 605.

Anonymous Thu Feb 27 14:43:15 2014 No.151060
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http://www.reddit.com/r/BitcoinMarkets/comments/1z27gz/daily_discussion_thursday_february_27_2014/cfpzcse

tl/dr the reddit is still soaked with "here's my technical analysis of why the crashes won't repeat and everything will keep going up".

So this still stands
>>140459

Anonymous Thu Feb 27 14:57:18 2014 No.151159

>>150112
The attack on banknotes is in part because they can be created at will. If you "possess" a bitcoin in your wallet, you know how much of a fraction of the supply you own.
In theory, because now, with monster exchanges allowing internal transfers bypassing the blockchain, etc, you can have fractionally created coins. But the knowledge about holding a known portion of the basic supply in your wallet.dat file still holds.
I'm using BTC as a currency, I buy them and spend all the balance immediately.

>>	Anonymous Thu Feb 27 14:58:18 2014 No.151166 >>151060 >If I'd lost coins I'd be buying, to make up for my loss because everyone has infinite money amirite

Anonymous Thu Feb 27 15:23:53 2014 No.151337

>>150662

/biz/ is full of idiots from /pol/ who were incapable of distinguishing Mt.Goy from the entire concept of bitcoin.

This entire crash was a result of Mt.Goy, and now we are at where estimations were made over a month ago: a return to normal at or above 600.

Bitcoin exchange BTC-e, a Mt. Gox alternative, is an Internet black hole Anonymous Thu Feb 27 15:42:23 2014 No.151461
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Marketwatch.com
February 27, 2014

"... Not much is known about BTC-e besides its size and some scant information on its website. It’s the second-biggest bitcoin exchange by 30-day volume, according to bitcoincharts.com. There’s evidence that BTC-e is already benefiting from the Mt. Gox halt; a Tuesday update on BTC-e’s support website noted that the support system would be moved to a new platform “in order to cope with the increased number of client requests.”

But who runs it, and from where?

The terms of use on the exchange’s website say it is governed by the laws applicable in Cyprus but the website’s description on Google says the exchange is based in Bulgaria. The support system’s latest updates are presented in Russian and English. The founders of the BTC-e bitcoin exchange have taken pains to remain anonymous, giving only the names Aleksey and Alexander in a December interview with CoinDesk.

Users are unable to send a message to the site’s administrator. When one tries, as this reporter did, a window pops up with this response: “Please use tickets to contact us about any questions & problems.” There is no email address easily available on the website.

BTC-e did not respond to requests for comment sent through the support system and a Twitter account purporting to be from the exchange. Interestingly, the handle @btcecom, on Wednesday only followed one Twitter account — that of Charlie Shrem, the New York-based bitcoin entrepreneur arrested in late January on charges of alleged links to the bitcoin-only drug market Silk Road. The account now follows no one.

Zachary Collier, who works as an application developer in Pueblo, Colo., questioned BTC-e’s legitimacy in a post on Reddit that has nearly 300 comments...

http://blogs.marketwatch.com/thetell/2014/02/27/bitcoin-exchange-btc-e-a-mt-gox-alternative-is-an-internet-black-hole/

Anonymous Thu Feb 27 15:45:22 2014 No.151474

>>140551
>And according to all reason it should have happened.
This is why I feel that people stating the future of Bitcoin with confidence and certainty should generally shut up. Make educated guesses all day, but no one ever really knows what's going to happen next.

>>	Anonymous Thu Feb 27 15:51:52 2014 No.151507 >>151461 but we know all the other exchanges are trustworthy because they all denounced m:tgox in a statement i mean, what more do you want? audits or something?

Anonymous Thu Feb 27 16:06:21 2014 No.151571

>>141367
Well OK, which governments and businesses are "shunning" Bitcoin? Off of the top of my head I can think of China and Russia in terms of countries. In terms of businesses I can only think of Apple, but they've always been fascist cunts when it comes to what people can or can't do with their shit (their OS is specific to proprietary and overpriced hardware, after all).

When and by what means did said entities say so and what specifically did they say?

>>	Anonymous Thu Feb 27 16:07:21 2014 No.151579 >>151571 PayPal has very specific prohibitions against virtual currencies.

Anonymous Thu Feb 27 16:11:51 2014 No.151600

>>141387
>having a verification code for your credit card number
>having login credentials and a passphrase for a banking website
>having a lock for the doors to your house
>having a key for your car ignition
>having a combination to your safe
>having a sphincter for your rectum

Anonymous Thu Feb 27 16:15:51 2014 No.151631

>>151579
>Please know that per our recent policy update, Virtual Currency (i.e. Bitcoin and Litecoin), whether digitally or physically delivered, cannot be listed in Auction-style or Buy-It-Now listing formats. eBay is opening a Virtual Currency category to allow the sale of virtual currency in Classified Ads format on February 10, 2014. We request that you do not list these items until that date. Please be informed that repeated breach of the policy may further jeopardize your account status. To avoid any inconvenience in future, we'd appreciated it if you go through our help pages or contact us before listing any such items.

>>	Anonymous Thu Feb 27 16:18:52 2014 No.151647 >>151631 The more you know.

>>	Anonymous Thu Feb 27 16:21:51 2014 No.151666 How about that? BTC trading at same amount before Gox news BUY BUY BUY

>>	Anonymous Thu Feb 27 16:24:22 2014 No.151689 File: 48 KB, 1482x333, sinking ship.png [View same] [iqdb] [saucenao] [google] >>151666 You're a pretty big guy

>>	Anonymous Thu Feb 27 16:28:22 2014 No.151715 >>151689 >>151666 Have you noticed the amounts that are moving around on bitstamp?

>>	Anonymous Thu Feb 27 16:44:52 2014 No.151820 >>151579 No. They aren't.

Anonymous Thu Feb 27 16:47:52 2014 No.151834
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These days it seems like everyone is talking about Bitcoin the digital currency that is revolutionizing the way people think about money, trade and transparency. Mt. Gox offers a secure and reliable multi-currency exchange so you can trade with the entire world in your local currency. Now isn't that something worth talking about?

>>	Anonymous Thu Feb 27 16:47:52 2014 No.151835 >>151715 Yes

>>	Anonymous Thu Feb 27 16:49:52 2014 No.151844 >>151834 Why is it that that illustration causes me to think of: YOU'RE PLAYING WITH THE BIG BOYS NOW.

>>	Anonymous Thu Feb 27 17:11:51 2014 No.151936 >>151834 I'm a tad surprised no one has done a Ben Garrison edit on that

>>	Anonymous Thu Feb 27 17:12:21 2014 No.151942 >>151579 Please, feed me moar dis-info. Muh tummy be yearnin.

>>	Anonymous Thu Feb 27 17:13:22 2014 No.151946 File: 31 KB, 1280x720, maxresdefault[1].jpg [View same] [iqdb] [saucenao] [google] >>151689 voor jou

>>	Anonymous Thu Feb 27 17:14:22 2014 No.151947 File: 75 KB, 500x375, insolventexchanges.jpg [View same] [iqdb] [saucenao] [google]

>>	Anonymous Thu Feb 27 17:15:22 2014 No.151957 File: 442 KB, 450x193, vader-dinner.gif [View same] [iqdb] [saucenao] [google] >>151844 lol it made me think of this

>>	Anonymous Thu Feb 27 17:17:22 2014 No.151961 >>151957 What a horrible gif.

>>	Anonymous Thu Feb 27 17:18:51 2014 No.151966 >>151947 >comic sans

Anonymous Thu Feb 27 17:51:52 2014 No.152099

>>149103
The time scale of what I believe is a Bitcoin bubble and the dot-com bubble are going to be different.

I must admit that the increase in the price of Bitcoin doesn't really have an analog to the real world unlike the NASDAQ did. The NASDAQ could be plotted against the history growth rate of the U.S. stock markets, which showed that it really jumped the curb after the Asian Financial Crisis.

>>149042

Bitcoin run-ups and crashes are different from the dot-coms partly because the dot-com companies had product and people were buying shares in companies that potentially could grow large enough to realize economies of scale and turn a profit. (Yes, a lot of the companies were utter bullshit, too.) I don't see the same with people buying Bitcoins.

Bitcoin? It's people hoping to get 10,000x gains for doing practically nothing and without having to back a productive business.

I suspect some variant of Bitcoin's money transmission mechanism will survive and perhaps thrive. I've actually thought about what I believe would be a viable business by using a cryptocurrency tied to something like gold. This would allow for people in countries such as Argentina and Cypress to be able to escape capital controls when their governments are looking to screw them. The gold would also give the cryptocurrency real value that's tied to the world's central banks.

>>	Anonymous Thu Feb 27 18:02:42 2014 No.152154 >>152099 >using a cryptocurrency tied to something like gold They already have this. It is called the NoFiatCoin XNF and is traded on the Ripple network

Anonymous Thu Feb 27 18:03:42 2014 No.152163

>>149407

I'm a code monkey that speculated (and lost) in the dot-com bubble, sat on the sidelines of the housing bubble (and still lost money thanks to government bullshit) but somehow managed to save enough and invest well enough to be a millionaire.

Books to read are Charles Mackay's Extraordinary Popular Delusions and the Madness of Crowds, Garet Garrett's The Bubble the Broke the World, Jesse Livermore's autobiography Confessions of a Stock Operator (written pseudonymously as Edwin Lefevre), and historical accounts of the famous bubbles (South Sea, Dutch tulip, Mississippi). It's also worthwhile to read the newspapers published during the Roaring 20's.

The above books will inform you about how people behaved during a bubble. You'll notice that they all act the same way: speculating rather than working, new paradigm, etc. For the U.S. bubbles, "it's different this time" is commonly said which I believe John Templeton said, "The four most dangerous words in the English language are, 'This time is different.'"

>>	Anonymous Thu Feb 27 18:08:41 2014 No.152185 I have worked with ne0futur who works with Gox. Their money has been taken by USGov. All I can say right now.

>>	Anonymous Thu Feb 27 18:09:11 2014 No.152192 >>152154 Thanks. I'll look up how that thing works and see how similar my idea is to an actual, working specie-backed, cryptocurrency.

Anonymous Thu Feb 27 18:10:12 2014 No.152204

>>152185
Yes that's one of the many popular theories floating around.

>>152099
Bitcoin does have long-term value, though this is more of a prototype than the final product of a useful digital currency. I avoid bubbles and wait for the aftermath to get paid.

>>	Anonymous Thu Feb 27 18:10:12 2014 No.152205 >>152163 Holy shit. We got ourselves a Jim fuckin Cramer right here. Everyone heed his advice, or more precisely 'guaranteed forecast.' What more reasoning do you need? He's a millionare, for christ's sake.

Anonymous Thu Feb 27 18:20:42 2014 No.152241

>>152205
There's a difference between Cramer and me. Firstly, I never worked on Wall Street.

Secondly, I'm calling out Bitcoin as a bubble to present an argument so that people don't jump in to a mad speculative instrument and then lose their money. If I'm wrong, the only that will happen is that people won't make money. Cramer's advice, if followed, can cause people to lose money.

As for stating some ballpark of my net worth, the person asked and stated what I did. I also give people and idea of how well I've done in bubble environments.

No matter what, I'm just an anonymous person offering an opinion here with the advice to not get burned on Bitcoin. I guaranteed nothing unlike the Bitcoin true believers.

People might want to consider what other true believers said in other bubbles, most recently the dot-com and housing bubbles. All the bulls said that the pessimists were idiots and were seeing bubbles where there were no bubbles.

And while they did not make disparaging remarks about pessimists, Alan Greenspan, Ben Bernanke, and Henry Paulson all hyped up a bubble economy shortly before they burst.

The Bitcoin bubble moves faster than the dot-com and housing bubbles. My gut feeling is that the bubble will blow out for good in a year or two. If this thread is still around then, I'll drop in and admit if I'm wrong.

I've got no long or short interest in Bitcoin. I'm just an interested observer. This has been the most lucrative bubble I've ever seen.

>>	Anonymous Thu Feb 27 18:43:41 2014 No.152318 Bitcoin is completely decentralized, they said. Bitcoin can't be killed, they said. You only have yourselves to blame for relying on MtGox.

>>	Anonymous Thu Feb 27 18:48:11 2014 No.152346 >>152318 I don't think anyone here had anything in MtGox; you'd have had to be sleeping through the last four months to think they were trustworthy.

>>	Anonymous Thu Feb 27 18:52:13 2014 No.152364 >>152318 Human history has been one of centralization. Give someone something decentralized and they will find a way to centralize it and streamline it, in the process increasing individual control over it.

>>	Anonymous Thu Feb 27 18:52:42 2014 No.152367 >>152318 >Not using DeepX or DeepExachange >Putting money in MtPonieScheme >Thinking a bunch of retarded weebs with cartel cash will kill ButtCoin kekkest of mighty keks

>>	Anonymous Thu Feb 27 18:56:45 2014 No.152383 >>152318 While the people who bought in from MTGOX were rubes, that doesn't mean that they deserved to be defrauded out of hundreds of millions of dollars in magic internet money.

>>	Anonymous Thu Feb 27 18:59:16 2014 No.152396 >>152383 >that doesn't mean that they deserved to be defrauded out of hundreds of millions of dollars in magic internet money. But that is exactly what it means. In the darwinian struggle of the free market they were found wanting.

>>	Anonymous Thu Feb 27 19:00:16 2014 No.152398 >>152383 Honestly, some light regulation to set standards and clear up questions of legal responsibility could only help Bitcoin at this point. MtGox admins were clearly in over their heads.

>>	Anonymous Thu Feb 27 19:03:46 2014 No.152422 >>136278 I bet I can unload my USD fast enough that it doesn't really matter #poorpower

>>	Anonymous Thu Feb 27 19:03:46 2014 No.152424 >>152398 The whole point of the thing is to avoid muh taxation-slavery, though. Otherwise it's just a visa card with a randomly fluctuating balance.

Anonymous Thu Feb 27 19:14:47 2014 No.152471
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>Mt. Gox bitcoin customers could be out of luck, experts warn.

http://www.reuters.com/article/2014/02/27/us-bitcoin-legal-idUSBREA1Q07U20140227

>Unlike bank accounts in the United States, bitcoin deposits have no government-backed insurance.

Something I've mentioned few times here.
Consumer protection, it doesn't exist in the realm of Bitcoin, and I think that this is one of the biggest hurdles for Bitcoin to overcome.
And judging by the way things are developing, Bitcoin might die before it even gets near to achieving something like that.
Crypto currency itself won't, because it's a great concept, but Bitcoin probably will.

>"To me, the first really important conceptual hurdle to get over is that these things really are property,"

Also one of the big problems, there are no clear laws governing these things.
Nobody even knows what the hell they are legally even considered.

This Gox matter is far from over and if people think that there is any recovery in sight, they are dead wrong.

I'm still sticking to my prediction about this bounce capping at 600~ and then going down to 350-380 levels. Probably not stopping there either. Just going to keep on bouncing down.

Anonymous Thu Feb 27 19:16:47 2014 No.152480

>>152205
And by the way, what is *your* motivation for taking the other side (long) of the Bitcoin argument?

If I'm full of shit (and I'm not saying I'm not), at least the only bad thing that can happen to people who are influenced by my opinion is that they won't make a capital gain. They absolutely, positively will not lose money as I am not recommending anyone short Bitcoin even if they could.

What about you? You just want everyone to get rich? All they have to do is buy, increasing demand, something with a limited supply thus driving up the price of the item you already hold?

I would recommend anyone look at the previous two bubbles and they'll see that you are the carnival barker, a la Jim Cramer, not me.

>>	Anonymous Thu Feb 27 19:17:17 2014 No.152491 >>152471 https://www.youtube.com/watch?v=sPAwZkXcy_M What the hell am I watching?

Anonymous Thu Feb 27 19:26:48 2014 No.152532
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>>152471
Yeah they don't understand that people value security and safety more than the ideology that bitcoin carries with it. The only reason they are dumping money into it it because they can convince themselves it is safe and easy money.

They are nowhere near competing with American Express's reward points, free rental car insurance, extended warranty, chargeback policies, ect... credit companies have already said as much. The currency was well suited to integrate with anarco-capitalist ideals though, which are part of people's identity that they feel obligated to support.

Anonymous Thu Feb 27 19:28:17 2014 No.152541

>>152480

Whoah, hold up there Jim. Two replies? Can a nigga live pls?

Your counter side of the argument holds as much weight as the pro stance you seek to slay. You are certainly entitled to bark til the moon don't shine, just as I am. Or is this you-shut-your-whore-mouth-and-listen time in the land of Kekville? If so, let me know...I'll be happy to *not* oblige.

Oh, and great example, too. I suppose you also applied your 'but they have zero to lose if they just listen to me' prophetic assertions back when it was a speculative bubble in early november, amirite?

Hindsight is always 20/20, good sir. And I know you just absolutely despise hearing this, but there *are* people in this world who actually like to risk to gain. Mind blowing concept, eh? But I'll just leave you to play gamblezone mall cop because you obviously have some deep seeded vendetta to rid the world of any possibility of losing their hard earned shekels, whilst fully insuring their ability to never accrue any in the process.

Oh, and I screencapped these replies thrice for accountability lulz.

<3

>>	Anonymous Thu Feb 27 19:36:33 2014 No.152583 File: 1.12 MB, 250x272, 1391290927791.gif [View same] [iqdb] [saucenao] [google] >>152541 lol ur such a fag. nobody likes people like you

>>	Anonymous Thu Feb 27 19:39:02 2014 No.152600 >>152541 >>152480 If you're wondering, he's euphoric because he converted his gold/silver over to bitcoins. He appears to have something against shit that old people buy as a hedge. He reminds me of great books for men actually.

Anonymous Thu Feb 27 19:43:33 2014 No.152618

>>152532
>They are nowhere near competing with American Express's reward points, free rental car insurance, extended warranty, chargeback policies, ect...
Dude what you're describing is any currency when by itself.

Credit card companies are third parties that exist beyond actual currency.

With that in mind, Bitcoin in itself is not meant to be a direct to competitor to credit cards or even intrinsically more useful.

The fact that you can use Bitcoin to "send payments" should be looked at in the same way as spending physical cash. The reason why "Bitcoin is different" is because it translates that concept unto a digital medium allowing me to essentially use cash on the fucking internet. It is not meant to be like a credit card purchase.

You want your Bitcoins to be insured from theft? You want chargebacks for when you don't get what you paid for? You want rewards for spending money? Then you put your BTC in a bank, like you would your USD. You spend *credit* at stores and pay your bill with BTC.

The institutions that provide you with the benefits you are describing do it as a business and with the intention of profiting off of you.

The things you're expecting are not intrinsic to any currency and Bitcoin was not designed with them as a goal by any means.

Anonymous Thu Feb 27 19:46:03 2014 No.152638
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>>152491

A documentary about a man who is feared the most by the Jews.

This guy is either one of the craziest people alive, or some kind of super genius.
Probably the latter, look a the size of that braincase.

>"Hitler reincarnated as Jesus and came to me in my dreams, we have talked a lot"

This looks like the kind of guy, who would slice someone in half with a sword without batting an eye.

>>152532

I mean people always make mistakes, almost every one of us has fucked up something regarding transactions at some point of our life.
Well banks can handle that stuff, they can return our money. It's insured and safe at all times.
It might not be easy, but at least there's usually some way to handle these fuckups.

Mess up with Bitcoin and you're screwed.
Now imagine all the average people using it.
Now think about the intelligence of an average person, most of them can barely function and if these people are conducting transactions with a method they are unfamiliar with, They are bound to screw up at least few times.
Without a very solid consumer protection system in place before any real adoption, I can only see bad things happening.

>Excuse me, I just sent 1500$ to a wrong address, how do I get it back? Is there someone that I can call or something? Reverse the transaction? No? That was for my son!! He's in college and needs new books for this term! How is he going to study?!?!

Situations like this would be popping up left and right.

Not to mention thefts. There's no getting money back if someone just flat out steals it from you.
Well at least that's what it's starting to seem like with Gox.

>>152618

It makes no sense to keep Bitcoin in banks if the value can tank 5-30% in a day. Fiat money isn't going to do that.

Anonymous Thu Feb 27 19:48:32 2014 No.152651

>>151060
>waiting for a "real" crash
>then I'll buy

Wow, must take HUGE balls to buy in when every single indicator tells you it is definitely at a new bottom. Imagine what it will feel like when you miss the train again to 10k, and then 100k.

It is not following the same blind enthusiasm of the engineered bubbles brought to you by the Federal Reserve. People were never cared about the stocks they bought. People care a lot about bitcoin. They care about it existing. As dumb as that may sound to an emotionless sociopath that many of you are, you may dismiss it at your own folly and potential losses.

Anonymous Thu Feb 27 19:50:03 2014 No.152668

>>152541
>Holy shit. We got ourselves a Jim fuckin Cramer right here.
>Everyone heed his advice, or more precisely 'guaranteed forecast.'
>What more reasoning do you need? He's a millionare, for christ's sake.

That was your initial response to an opinion I expressed. You tell me if that's polite.

As for people who want to *speculate* in Bitcoin, I've no problems with that just as I have no problems with lotteries (I play when the expected return is right.)

The thing is, those people who are speculating in Bitcoin and know that they're speculating don't need my advice.

It's the people who are buying and holding based on spiel of the evangelists that I am warning. Overwhelmingly, the true believers of Bitcoin I've met are in their early twenties. They're too young to have understood the bullshit of the dot-com and housing bubbles and they've got the arrogance of youth to believe that "this time is different."

As I've said, I cannot derive a direct benefit if people do not buy into the Bitcoin bubble. (My indirect benefit is that if it is indeed a bubble, I won't be living among even more financially ruined people when that bubble inevitably pops.)

But you are an interested party. You *directly* benefit when other people buy into Bitcoin.

I'm just going to point out that fact for potential "investors" in Bitcoin to consider.

Anonymous Thu Feb 27 19:51:03 2014 No.152672

>>152600

Considering I'm way further ahead of the game flipping miniscule bits of data for fiat than I would have been codling those bowflex amounts of silver rounds in a fireproof safe...yes, I am euphoric.

I suppose us buttcoin bugs should always preface all our lotto winnings with strong 'YMMV' dealership clauses though...because god forbid perspective new investors aren't capable enough to do their own research since the pro-media support is damn near overwhelming.

I'll be sure to be more cautious in the future.

>>	Anonymous Thu Feb 27 19:51:03 2014 No.152673 File: 542 KB, 623x472, 1390694611262.png [View same] [iqdb] [saucenao] [google] >>152651

>>	Anonymous Thu Feb 27 19:52:32 2014 No.152676 >>151507 No. We know some of them are trustworthy because they have never had problems with giving customers their coins or cash back. Out of the dozens of exchanges, two have shut down and run with the money.

Anonymous Thu Feb 27 19:56:02 2014 No.152700
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>>152651

Holy shit.. This is just, fuck It's like listening to one of those pyramid scheme sales people.

>Every single indicator tells you it is definitely at a new bottom

To me it seems that it has almost reached a new ceiling. Not found a bottom..
Check out that RSI and what has happened every time it has capped like that on 1d scale.
Also keep in mind that there are only negative news on the way.

Anonymous Thu Feb 27 19:57:02 2014 No.152703

>>152638
>Not to mention thefts. There's no getting money back if someone just flat out steals it from you.
You mean like most things in real life? Unless of course what you have some kind of insurance, which is a service for which one pays.

Again, Bitcoin is a currency not a bank, insurance provider, or credit card company.

>It makes no sense to keep Bitcoin in banks if the value can tank 5-30% in a day.
It'll happen because there's money to be made in providing such a service; it's no more complicated than that.

Anonymous Thu Feb 27 19:59:03 2014 No.152717

>>151579
Yes, paypal has been blocking payments because some scammers have used bitcoin as a way to receive free coins without paying money for them. This was to protect customers because their service is not properly set up to handle bitcoin yet. Thousands of people use Localbitcoins.com as the "ebay/paypal for bitcoins" and it has a great escrow that works perfectly and easily with bitcoins. I've used it myself to puchase over $5k in bitcoin.

Now, as to what this immediate safety measure at paypal means for their future with bitcoin, and yes it will be with bitcoin, then you should see what the president of paypal has to say about it in a milestone interview a month ago.

http://www.wired.com/wiredenterprise/2014/01/paypal_bitcoin/

The info is out there, and the writing on the wall is as clear as day.

>>	Anonymous Thu Feb 27 19:59:32 2014 No.152714 >>152700 >Also keep in mind that there are only negative news on the way. If it's "on the way" then it's not yet "news" which means saying that it's negative or positive is purely speculation on your part. Take your crystal ball and fuck off.

Anonymous Thu Feb 27 20:00:32 2014 No.152724
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>>152471
>I'm still sticking to my prediction about this bounce capping at 600~ and then going down to 350-380 levels.

Thats sounds reasonable as a forecast to me. I don't mind admitting when it appears someone is smarter than I am, as you seem to be very broad-minded. So for me, it is just a hunch from experience. But I suspect you could support your position.

That's among the reasons I have been less involved with the discussion here, because smarter people seem to be articulating my hunch better than I could. Hunches don't count as argument.

I just hold the shills feet to the fire, and given the shills here, that doesn't take much. In the interim, I've been enjoying reading your input the most, ty.

Im sorry I dont have much to add; it would feel redundant. I saw some op-eds I might link in a bit.

Anonymous Thu Feb 27 20:00:32 2014 No.152725
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>>152668
>That was your initial response to an opinion I expressed. You tell me if that's polite.

Welcome to /biz.

I'd like to formally apologize and make it up to you, as I do feel kinda bad.

How 'bout we hash it over cordially over a drink...you anywhere near Philly? There's a quaint little spot called the Windsor exchange that accepts my worthless bubble shekels for dark lagers.

You...are....invited!

Anonymous Thu Feb 27 20:04:33 2014 No.152744

>>152672
>I suppose us buttcoin bugs should always preface all our lotto winnings with strong 'YMMV' dealership clauses though

Take a look at what some of the true believers say:

>>152651
>Imagine what it will feel like when you miss the train again to 10k, and then 100k.

"Don't miss the bus to Richville! Then onward to Plutocratburg!" There were politcal cartoons in 1928 and 1929 that ridiculed this exact behavior.

Anonymous Thu Feb 27 20:06:32 2014 No.152758
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>>152618
Bitcoin is mainly interesting if you're operating on extremely thin margins or if you handle lots of foreign transactions - the fees and waiting time can be horrible in that instance.

Bitcoin is too deflationary to be used as a currency on it's own unless it is pegged to a stable one like the USD. Any debt that you rack up MUST be fixed to the stable currency otherwise the deflation will spiral the debt beyond reason.

The reason I bring up both credit cards and banks is that people have been saying both are being threatened by bitcoin when they are not.
>>152651
Bravo

Anonymous Thu Feb 27 20:09:22 2014 No.152780

>>152099
Dot-Com bubble was started with the IPO of Netscape in 1995 and was an insane and uncorrected run-up to the record high 2000 when it crashed the NASDAQ by 75% by the end of 2001.

Bitcoin companies are already showing profits for providing services that cost far less than the next lowest option. These companies could potentially grow to become very large. Another factor that is always left out is how bitcoin already has the internet infrastructure fully built out and ready to be serviced. All it requires to infuse bitcoin into any business today is just a single smartphone or cash register app, which have already been developed and work very well.

Anonymous Thu Feb 27 20:11:50 2014 No.152792

>>152725
Thanks, "uncle." Great film.

And no hard feelings. I just hope people don't unwittingly go whole hog into this as they did the dot-com and housing bubbles.

At least those two kind of had something real associated with them: technology companies that were going to put the B&M out of business (it's finally happening, see Amazon and Apple with iTunes) and housing, which historically over a long period of time does track the rate of inflation thus the idea of never a loss.

Anonymous Thu Feb 27 20:13:21 2014 No.152803

>>152780
Yes, the Bitcoin middle men will make money. That's where a lot of the venture capital is going. They take a fee everytime a transaction occurs.

Li Ka-shing has invested in a Bitcoin-related company and it is a middleman. To the best of my knowledge, none of the big money is dropping serious dollars into the Bitcoins themselves.

They're investing in the sellers of axes and shovels, not the gold itself. (To use a California Gold Rush analogy.)

>>	Anonymous Thu Feb 27 20:13:21 2014 No.152804 >>152792 >I just hope people don't unwittingly go whole hog into this I think that's sound financial advice for any market segment. Always diversify, and never put in more than you can afford to lose. Palabras to live by.

>>	Anonymous Thu Feb 27 20:16:21 2014 No.152818 >>152780 Current VC money was quoted recently at close to 100 million total across the world, 50 of which came from one funder, it's somewhere in this thread. But the norm with startups is that only a few of them will make serious money.

Anonymous Thu Feb 27 20:17:51 2014 No.152823

>>152099
A company was just launched that transacts directly between gold and bitcoin.

http://www.youtube.com/watch?v=uOR3BuRqEwg

Sorry to break it to you, but we are never going back to a gold based currency. In fact, barring a complete Armageddon that wipes out all power for a generation or more, we are never going back in the direction of a physically back currency of any kind. It will be absolutely impossible for use to fully understand the implications of this, just like our grandparents will never completely understand how email works.

Anonymous Thu Feb 27 20:19:05 2014 No.152832

>>152823
James Dale Davidson and Lord William Rees-Mogg took a stab at it in the Sovereign Individual - superempowered individuals, a focus on city states that want to attract useful immigrants instead of keep them out, that sort of thing. The whole encrypted currency thing has always been a fit for libertarian ideas.

Anonymous Thu Feb 27 20:20:35 2014 No.152838

>>152424
That's implying that Bitcoin was made solely for tax evasion, which is not true. A regulatory framework that clearly defines liabilities and establishes minimum standards for exchanges operating in the US would be beneficial and relatively nonintrusive, and it could preserve all designed features of Bitcoin. It would still be a distributed pseudonymous currency outside the control of the banks, but with its legal status clarified, more businesses would be willing to accept it.

I think the Bitcoin community is harming itself with the knee-jerk protests against any government oversight. To see much use beyond black markets and speculation, Bitcoin needs its legal grey areas illuminated and made safe for legitimate businesses.

Anonymous Thu Feb 27 20:23:05 2014 No.152856
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>>152703

Did you check out that article?
Had it been a normal property theft, you don't even need an insurance to get your money back.
You can sue the hell out of them and get your money back as long as it's a real property theft.

So far it seems that Bitcoin isn't even really considered property.
Apparently it isn't considered anything.

None of these law people have any clear stance on what it is, and as far as legal things go, you need to be absolutely 100% crystal clear about everything, or else someone is just going to crawl away as a free man through some loophole.
And so far Bitcoin is filled with them.

>>152714

If you honestly can't speculate at this point whether the coming news are going to be positive or negative, then you should stay as far away from anything regarding investing as possible. You'll only get burned.

>>152724

Glad to be providing good material. Then again this thread has very little real conversation going on.

Reason for my open mind is that, world isn't exactly black and white.
Thinking in extremes is never a good idea and keeping an open mind is only beneficial.

There are always going to be good arguments coming from both sides and dismissing them just because you hold another view, is just childish.

My guess is that most people here are Americans, and since America is the land where you are either on one side or then on the complete opposite one, it's easy to see why this way of thinking has found it's way onto other things.
Now add money into the equation and there's no middle ground for these guys.

My predictions too are also mostly hunches based on how I feel and how the market has reacted before, combined with simple technical data, and to my surprise I've been only 20$ away about every single bottom since +1000$.
Too bad that I can't play uptrends at all. That's where my gigantic profits usually come down to just "pretty good" levels.

Regulation Will Save Bitcoin? You’re Kidding, Right? Anonymous Thu Feb 27 20:24:06 2014 No.152866

Bloomberg
By Mark Gimein, Feb. 26, 2014

"... If you like the idea of a privatized currency system, you can easily chalk this up to growing pains.

"If on the other hand you think (as, yes, I do) that Bitcoin has little utility for actual transactions and loses the advantages — security, reliability, traceability — of real electronic payment systems like credit cards, then the Mt. Gox fiasco hasn’t changed your mind on Bitcoin either. We already knew that $1 million could be stolen, lost, or seized by the government. Why not $100 million or $400 million?

"This is the point in almost any conversation when we would be talking about whether the government should step in and regulate. Some hardcore anti-government types might be willing to accept the loss of a few tens of millions of dollars here and there to avoid the evils of government interference, but a lot of other people (ie. most potential users) will find it unnerving that their holdings can suddenly disappear. And indeed the conversation has turned to regulation, with politicans and state regulators lining up to point out the need for rules. Even some of the true believers are getting in on the act. ”Regulation is a must at this point,” one investor tells Quartz‘s Heather Timmons...

>>	Anonymous Thu Feb 27 20:24:35 2014 No.152862 Is it dead yet?

(continued) Anonymous Thu Feb 27 20:26:52 2014 No.152874

>>152866

" ... Well, wait a second: The whole point of Bitcoin was that there’s no need for a central authority to regulate things, right? Truth is, the more rules get imposed on Bitcoin, the less of a purpose it has. There is no easy solution here. No, scratch that. There is no solution at all. Layer the apparatus of government to Bitcoin and what you’ve got is fiat currency without the convenience. On top of which, Bitcoin by its nature — decentralized, supra-national — cripples efforts at regulation.

"That’s becoming easier and easier to see. There’s been plenty of talk of what governments should do about Bitcoin; we just went through a round of U.S. Senate hearings on the subject. And still, that did nothing to prevent the biggest Bitcoin exchange from going bust.What’s happening with Mt. Gox doesn’t demonstrate new problems with Bitcoin; those were already evident. What it demonstrates is that no one is in a position to step in and solve them."

http://go.bloomberg.com/market-now/2014/02/26/regulation-will-save-bitcoin-youre-kidding-right/

Anonymous Thu Feb 27 20:29:51 2014 No.152886

>>152241
It would be a bubble if it hadn't gone though so many massive corrections. If a company stock dropped 75-90% in value multiple times when no other company stock was crashing, and it then rose to record highs of more than 10-20x from the new bottom each time, you would have no choice but to call it the most resilient stock of all time by far.

This is the behavior of bitcoin, and I can use known data to quantitatively prove to you that this is absolutely nothing like a bubble right now. We have seem booms and crashes, and overall a big boom, but nothing indicates the blind optimism needed for a bubble.

If nobody was using the bitcoin ATM and the customer at the bar using bitcoin for the first time said "Well that was a fucking pain in the ass." rather than saying "Cool, that's kind of fun." then you would have a point. The optimism surrounding bitcoin is 100% backed up by the pace of real world adoption. The internet was not.

>>	Anonymous Thu Feb 27 20:34:21 2014 No.152903 >>152886 Stocks don't fluctuate this quickly or wildly, unless you're talking about penny stocks.

Anonymous Thu Feb 27 20:35:52 2014 No.152909
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>>152856

>My guess is that most people here are Americans, and since America is the land where you are either on one side or then on the complete opposite one, it's easy to see why this way of thinking has found it's way onto other things.

Indeed, I am. I can't speak for everyone. But I am inclined to push arguments harder than I may actually believe them to force the counterpoint to be as quickly distilled in response as possible. It's a good way to see what level the other is actually on.

Perhaps it is American, and the result of the "two minute hate" circus arrangement known outside the American Anglosphere as "cable news" and the brain rot it causes lol. Such is the way national discussions are held, like verbal cock fights. I think it's a trait we inherited from British Parliament.

bak later

Anonymous Thu Feb 27 20:39:22 2014 No.152926
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>>152424
1. Require any exchange operating in BTC/USD to be licensed by the SEC
2. Tax any capital gains people receive from bitcoins
3. Profit

How hard is that to figure out. Bitcoin is not about avoiding taxes at all. That is bad info that you accepted exactly as it was spoon fed to you by Bloomberg. Bitcoin is about connecting the entire world financially and giving everybody with a cell phone access to the international economy while taking the money printing button away from the corrupt elite. We have gone over this a million times, but you just never listen.

Try sending money to Africa or South America with your Visa card. See how cheap, easy, and fast that is to do.

Anonymous Thu Feb 27 20:42:52 2014 No.152935

>>152471
>Nobody even knows what the hell they are legally even considered.

Bitcoin is ruled as a trading commodity that can be used a currency both in California and New York, and it is deemed private money in Germany. Several countries have already ruled that it is a commodity or a trading tool.

Progress is being made very quickly and in many places around the world. Please stop spreading lies.

>>	Anonymous Thu Feb 27 20:44:52 2014 No.152945 File: 107 KB, 640x426, cat 2 (2).jpg [View same] [iqdb] [saucenao] [google] >>152424 Ouch. That was fatally pithy.

>>	Anonymous Thu Feb 27 20:44:52 2014 No.152947 >>152935 >Please stop spreading lies. >but...but...how else can FUD?

>>	Anonymous Thu Feb 27 20:45:22 2014 No.152954 >>152935 It's still anybody's guess as to which direction that progress will go when MtGox customers have a class-action suit underway. The legal fallout from this could very well negate whatever pro-Bitcoin decisions have been made at the state level.

Anonymous Thu Feb 27 20:49:22 2014 No.152971

>>152638
>my bank protects my money

Why don't you try losing $200 in cash from your pocket and go complain about it to the bank, the cops, or to anybody. Bitcoin is the cash of the internet. Not hard to understand. When BoA and Wells Fargo roll-out bitcoin storage services early next year, then I will make sure to let you know so that your coins stay safe.

Anonymous Thu Feb 27 20:56:52 2014 No.153008

>>152700
>Every single indicator tells you it is definitely at a new bottom
>not what i wrote, at all

I didn't say or imply that BTC was at a new bottom, in fact I implied that it wasn't. If you un-blindly read what I wrote then you would see I was criticizing all of the people on here who think they are taking risk when they buy in at a "guaranteed" new bottom. If you keep waiting for 99% of the indicators (RSI or anything else) to tell you it is at the bottom, then you will miss it every single time.

Anonymous Thu Feb 27 21:04:22 2014 No.153042

>>152724
Are you really serious? This guy says uninformed BS like "nobody really know what bitcoin is at all" when legislators in NY are currently signing up businesses with bitcoin licenses. If you listen to people like that who barely pay attention to bitcoin news at all and not people who do, like me, then you really don't have much good to add to this conversation. Was that harsh to say? I couldn't care less as long as the truth is pushed forward.

The second a real flaw is found in the bitcoin protocol, the moment that SHA-256 is cracked in a way that renders bitcoin unsafe, the moment CIA/FBI/DEA start randomly arresting and rounding up bitcoin owners by tracking wallet addresses, at the very second I find out about any of this i will come here and be the first to tell you the truth, whether useful or hurtful, good or bad about bitcoin.

You can check my ID in this thread. I have not been telling everybody to buy. I have not been spreading lies. I have in no way been shilling at all. Have others? Sure, and I hope they fuck off for good.

>>	Anonymous Thu Feb 27 21:04:51 2014 No.153044 File: 50 KB, 496x302, rYm50nU.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Thu Feb 27 21:07:21 2014 No.153061 >>153042 They've already finished writing the laws and are issuing licenses right now?

>>	Anonymous Thu Feb 27 21:08:51 2014 No.153069 >>152926 >while taking the money printing button away from the corrupt elite I seem to have missed the fact where inflation is a natural and necessary part of an economy.

Anonymous Thu Feb 27 21:09:53 2014 No.153073

>>152818
I was the one who posted the link to the VC funding. Far as I can see, with most companies turning a profit right out of the gate on bitcoin services, and the enthusiasm that the actual VC crowd itself gives at each bitcoin meetup, I don't see the momentum slowing down.

>>	Anonymous Thu Feb 27 21:12:52 2014 No.153090 File: 32 KB, 509x286, Conan2000 yet again.jpg [View same] [iqdb] [saucenao] [google] >>153061 Of course not.

Anonymous Thu Feb 27 21:13:22 2014 No.153092

>>152935

I can't bring myself to believe that it's only governed by the laws regarding commodities.
My guess is that they are just laws that were hastily applied to Bitcoin to ease the headache it's causing law people.
Just something to push it into a category and I don't think it's anywhere near final.
And any good lawyer can probably find so many loopholes in the whole thing, that it's not even funny.

>"To me, the first really important conceptual hurdle to get over is that these things really are property," he said. "When you take money from the public and store it somewhere you claim is secure, you put property law in play."

So this law guy states in the article that he has trouble believing if these things are real property.
If there are any doubts like this in the minds of lawyers and these are very strong doubts, then I don't think that the laws governing Bitcoins are that solid.

>>152971

Why not address the botched transaction point there?
That's way more likely to happen than throwing a lot of money out on the street.
I can screw up a transaction and get my money back.
Try that with Bitcoin. In a situation like this bank is infinitely better than Bitcoin and does protect my money way better.
Also bank isn't going to fuck me over like Gox and run away with my money for good.
Keeping my money in Bitcoin and storing it away is way too uncertain and has been for a while. Doing that might end up costing me a lot of money.

>>153008

My bad, don't get your panties in a knot.

>>153042

World = America.
So someone is selling Bitcoin licenses? Wow, that must mean that the whole damn planet is buying them from NY. Shit.. I was so wrong and uninformed.

Lawyers are apprehensive about accepting it as a property. There are no global laws or even nation wide laws in America governing it. No, no one knows what the fuck it should be classified as. Stop jumping to conclusions because it's getting green lighted somewhere.

>>	Anonymous Thu Feb 27 21:14:51 2014 No.153103 File: 27 KB, 400x399, 1359243838097.jpg [View same] [iqdb] [saucenao] [google] >>153044 >Hypocrisy, they name is Right-Wing Libertarianism

Anonymous Thu Feb 27 21:14:52 2014 No.153101
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>>152856
>Reason for my open mind is that, world isn't exactly black and white.
>Thinking in extremes is never a good idea and keeping an open mind is only beneficial.

That's just rich coming from the guy who said, "Nobody even knows what the hell they [bitcoin] are legally even considered." Actually, there are entire countries and states that have conclusively ruled what bitcon legally is, and most have fully allowed it's activity with no ban at all.

You need to get more info. UTFSE and try to have some integrity.

>>	Anonymous Thu Feb 27 21:18:22 2014 No.153112 >>153101 NY is selling bitcoin licenses and has wrote the laws on it, yes?

Anonymous Thu Feb 27 21:19:41 2014 No.153121

>>153101

So what if I buy them from somewhere that considers them private money. Then I move to someplace where they are considered commodity.
They get stolen by someone living in a country/state that hasn't said anything about them, what laws should apply to them?

Also there are countries that have banned them.
Tell me with a straight face that this situation is clear to everyone.

It's a clusterfuck of mixed laws and rules.

Anonymous Thu Feb 27 21:20:11 2014 No.153122

>>152874
Bloomberg has been the greatest source of fud and the greatest supporter of the banksters. No surprise that they don't get the concept of banks allowing customers to keep accounts in USD while being able to instantly exchange it to BTC at the point of sale.

World Wide Web of Information = Good
World Wide Web of Money = Bad

How does elite interests controlling either information or money transfers with absolute power, like they used to do with information before the internet, serve anybody else in the world except the elite? Better question, how does Bloomberg serve anybody else but the elite?

>>	Anonymous Thu Feb 27 21:21:11 2014 No.153132 >>152396 So if I come up behind you, slit your throat, and make off with your now at liberty fiat, that's fine as well, yes?

>>	Anonymous Thu Feb 27 21:21:42 2014 No.153129 >>152903 >billion dollar market cap >fluctuate like a penny stock >wonder where this will end up going

>>	Anonymous Thu Feb 27 21:23:11 2014 No.153140 >>153122 So NY is signing up businesses with bitcoin licenses because the laws have been written?

>>	Anonymous Thu Feb 27 21:23:41 2014 No.153138 >>153132 Well, if you did it right he couldn't stop you.

Anonymous Thu Feb 27 21:30:42 2014 No.153168

>>153061

Yes, I cannot be bothered to find all of the countries and state rulings, but here is one of the new bitcoin laws in CA: http://www.examiner.com/article/take-notes-colorado-california-just-passed-law-making-bitcoins-legal-money

>>153090
>Of course they have not finished writing any laws on bitcoin.

Check my link, and I hope others do to so they can know that ID:t1orZdr8 just spews shit without doing even a two-second search. Read his other posts for more laughable gold-bug era fud.

Anonymous Thu Feb 27 21:37:42 2014 No.153199
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>>153092
>So this law guy states in the article that he has trouble believing if these things are real property.

No, you just have trouble reading. He is saying that from his perspective, in his opinion, that is the hardest thing to first understand about bitcoin. He said absolutely nothing of his current state of difficulty in believing such a claim. In fact, he very clearly implies that he is well passed this hurdle himself and working to help other people understand the concept.

You are going to have to read better or I am just going stop responding entirely to your disinfo.

>Also bank isn't going to fuck me over like Gox

Actually they do sometimes, but that is besides the point. Banks have a huge opportunity to make money via bitcoin exchanges and escrow services, the latter of which is already built into bitcoin and currently used perfectly in localbitcoins.com

And yes, New York is absolutely the world leader of finance by a huge margin. This has been so for at least fiftey years. Them oferring BTC licenses and accepting BTC into their system is the single best endorsement possible.

Anonymous Thu Feb 27 21:38:12 2014 No.153204

>>153168
That's California but that's not quite a license. Everything I've seen just says they are trying to figure out what the license would require. Certainly regulators and lawyers who were holding hearings on it are knee deep in it now that 400 million has vanished.

>>	Anonymous Thu Feb 27 21:40:13 2014 No.153213 The problem with crypto currencies is the fact that they are decentralized. There is no insurance. You could lose your entire holdings. No one in their right mind would invest any significant amount of money into such a system.

Anonymous Thu Feb 27 21:42:13 2014 No.153223

>>153121
Is it clear? Fuck no, not yet. I never said it was all cleared up as far as regulation. Progress is being made on a huge scale to figure out how this invention can best benefit everybody in a legal and just fashion. Nocoiners would have you believe that it will always be unclear and the only government action from any notable source of power is to ban it outright. Exchanges are still open in China. The first Hong Kong bitcoin ATM is being installed, actually it might be working already haven't check today.

The only place that has done an actual ban is Russia, the country that has proven to be the worst managers of money of any superpower. If you want to take them as an indicator of the future of finance, then I don't even know where to begin.

AB 129 Is Not California Law Yet… Anonymous Thu Feb 27 21:42:13 2014 No.153225
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>>153168

"... A top post on /r/Bitcoin at the moment has quite the misleading title. The specific document linked is merely the latest revision of the bill with analysis from the State Assembly’s Banking and Financial Institutions Committee and dates to 1/23/14. The post has caused many to mistakenly believe that either the bill has become a law or the bill has been passed and is awaiting signing to become a law. Both of which are quite untrue and reveal ignorance of political processes...."

http://www.cryptocoinsnews.com/2014/02/24/ab-129-is-not-california-law-yet-the-remaining-steps-before-bitcoin-becomes-legal-in-california-and-how-you-can-help/

Filthy, filthy shill... eat the dirt you peddle, you worm.

>I only tell the truth

Vile, lying worm. Choke on it.

Anonymous Thu Feb 27 21:47:11 2014 No.153246

>>153140
I am not sure how far along they are as far as signing people up. They are working on creating it right now. A major regulatory meeting was held last month with a panel from the NYDFS to gather information for the new law. California just beat them to the punch by a bit.

>>	Anonymous Thu Feb 27 21:48:12 2014 No.153255 File: 1.79 MB, 3500x2713, 1357148259898.jpg [View same] [iqdb] [saucenao] [google] >>153140 Preview of bitlicense program in NY: http://www.inc.com/jeremy-quittner/regulators-cryptocurrency-questions-not-answers.html

Anonymous Thu Feb 27 21:51:12 2014 No.153267

>>153246
Yes, they are in the stage of fleshing it out, have been since before MTGOX went down. That's what we all knew already, they are further defining what it will mean to have the license because it is a grey area. Which isn't the same as

>"nobody really know what bitcoin is at all" when legislators in NY are currently signing up businesses with bitcoin licenses.

Anonymous Thu Feb 27 21:55:42 2014 No.153281

>>153225
>http://www.cryptocoinsnews.com/2014/02/24/ab-129-is-not-california-law-yet-the-remaining-steps-before-bitcoin-becomes-legal-in-california-and-how-you-can-help/

Son of a bitch. I misread "passing the vote to go back to the Senate for the next hearing" as "passing vote in the Senate". Sorry about that.

My mistake. Still, the law is written and well along the process of passing, already passing through the CA Senate Banking Committee (they voted unanimously in favor 8-0). I would bet that if any point it would stop or see resistence, that would have been the point. Looks very good for the bill passing the final vote.

>>	Anonymous Thu Feb 27 21:58:41 2014 No.153300 >>153255 > prosperous, commercial metropolitan america i has a sad now

>>	Anonymous Thu Feb 27 21:59:11 2014 No.153303 >>153267 >should have used Germany or Finalnd as the example http://www.vancouversun.com/business/technology/Bitcoin+fails+Finland+money+test+judged+commodity/9408354/story.html

>>	Anonymous Thu Feb 27 21:59:43 2014 No.153305 >>153225 >Vile, lying worm. Choke on it. busterbaxter.jpg

>>	Anonymous Thu Feb 27 22:01:59 2014 No.153316 >>153223 >The first Hong Kong bitcoin ATM is being installed What does it dispense

Anonymous Thu Feb 27 22:02:29 2014 No.153319

>>153303
CFTC has been the one looking to regulate bitcoin anyway in the US.

So, the original point was that there was a grey area, which is mostly true except in a few country's. Though within some months we can expect it to be clarified and bitcoin may be treated as a commodity, with some banking restrictions tacked on.

Anonymous Thu Feb 27 22:02:59 2014 No.153322
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>>153300
So here is the solution: Find a way to turn back the tide of unchecked power at the printing press with all debt currently being created to feed the military and oil companies.

I wonder what could help us do that? Maybe someday somebody will invent something that gives the power of the definition of money and currency back to the people of the world and takes it out of the monopoly of government-controlling banks.

>>	Anonymous Thu Feb 27 22:04:59 2014 No.153338 >>153322 >So here is the solution: Revoke most favored nation status to China and burn NAFTA to the ground Employ Americans to make the things we need? How could it have been so simple

>>	Anonymous Thu Feb 27 22:05:59 2014 No.153346 File: 58 KB, 666x666, 1393556732178.jpg [View same] [iqdb] [saucenao] [google] >>153316 Robocoin does bitcoin to cash, both in and out. http://techcrunch.com/2014/01/02/robocoin-the-bitcoin-atm-is-heading-to-hong-kong-and-taiwan/

Anonymous Thu Feb 27 22:06:29 2014 No.153352

>>153322
But there's the problem, bitcoin doesn't do that.

It's a commodity currency but it doesn't work well on it's own. I sure as hell wouldn't want a deflationary currency as extreme as this to owe debts in. The cost hasn't been driven up to reach it's 8 digit subdivision yet but even that could be a problem if it keeps spiraling.

Now the concept of bitcoin, which still need improvement, that can be useful.

>>	Anonymous Thu Feb 27 22:07:59 2014 No.153356 >>153303 > It’s also not a payment instrument, because the law stipulates that a payment instrument must have an issuer responsible for its operation And who's the issuer responsible for the operation of gold, may I ask

>>	Anonymous Thu Feb 27 22:08:59 2014 No.153364 >>153346 >Robocoin Is that the cool 1983 Robocoin or the lame as shit 2014 Robocoin

Anonymous Thu Feb 27 22:09:28 2014 No.153366

>>153338
That is another great way to help, but you can be sure that whenever they can print more money to pay for war that drives us into debt, they will. We can't produce our way out debt without reducing inefficiency and corruption at all levels. Look at how much China and India produce and yet the median citizen is still living in a dirt-floor tin-roof shack.

>>	Anonymous Thu Feb 27 22:10:59 2014 No.153371 >>153366 >whenever they can print more money to pay for war that drives us into debt, they will So, human history? >Look at how much China and India produce GNP is not a metric of prosperity. It's like calling velocity "speed."

>>	Anonymous Thu Feb 27 22:12:59 2014 No.153379 >>153371 > you just contradicted yourself derrrrp

>>	Anonymous Thu Feb 27 22:13:30 2014 No.153383 >>153213 I feel like this point has been approached countless times. Like here >>152971 Your cash isn't safe unless you pay someone to secure it for you. Bitcoin is not unique in this sense.

Anonymous Thu Feb 27 22:18:29 2014 No.153403

>>153352
It does not work well compared to the USD right now for most purposes. If you have access to USD that is what you should use most of the time. I agree with this, but try asking people in Argentina how well bitcoin is working out for them. Many countries in the world have currency far less stable than bitcoin, and many of these people have cell phones and computers. What would you do in that case? Here is what they are doing: http://crypto-news.com/bitcoin/bitcoins-in-argentina/

I only have a small fraction of my money in bitcoin. I use it to send money over long distance and to buy things online from time to time. No other form of payment has ever been so useful for these purposes, not even close at all, and I will continue to use bitcoin for as long as it is available. You will find this opinion very common with people who have ever owned any bitcoins. This is why the price is justified.

>>	Anonymous Thu Feb 27 22:18:59 2014 No.153406 >>153366 But they didn't literally print money. If you're talking about the global war on terror, if anything it has provoked Americans to care less than ever before about invading foreign countries for vague reasons.

>>	Anonymous Thu Feb 27 22:19:29 2014 No.153410 >>153356 I guess that would be either God, the big bang, or the Oort Cloud epicentre.

>>	Anonymous Thu Feb 27 22:20:59 2014 No.153415 >>153410 tl;dr: if it's not about knives or guns don't ask a fucking Finn

>>	Anonymous Thu Feb 27 22:21:29 2014 No.153420 >>153415 You forgot vodka

Anonymous Thu Feb 27 22:21:59 2014 No.153424

>>152823
>Sorry to break it to you, but we are never going back to a gold based currency.

My idea about a gold backing is to tie a cryptocurrency more securely to money issued by central banks. Tying a cryptocurrency allows a person to escape capital controls and then redeem the cryptocurrency for gold somewhere else. The gold can then be converted to a sovereign currency, if desired.

Not every place is going to accept a cryptocoin, at least not with some effort. However, in the civilzed world, it's not hard to find a place to convert gold into the local currency.

Furthermore, gold is not nearly as volatile as the cryptocoins have been.

Finally, the idea I had for a gold-backed cryptocoin was designed to prevent the rampant speculation you see in Bitcoin. The price of the cryptocoin would change at roughly the same rate as the price of gold.

There's more to my idea but there's no point in discussing it hear. I'll only add that NoFiatCoin is missing a few key features of the cryptcoin I have in mind but will probably never implement.

>>	Anonymous Thu Feb 27 22:23:29 2014 No.153431 >>153406 >But they didn't literally print money. That is exactly what they do, they just call it something else in an attempt to confuse poor people. http://en.wikipedia.org/wiki/Quantitative_easing

>>	Anonymous Thu Feb 27 22:29:29 2014 No.153460 >>153431 Quantitative easing theoretically has to be reversed, during which bonds much be paid off which reduces money supply.

>>	Anonymous Thu Feb 27 22:36:16 2014 No.153501 What about btc-e.com? Is it still useful for trading?

Anonymous Thu Feb 27 22:40:46 2014 No.153523

>>153431
>quantitative easing is printing money
>they only call it that to confuse poor people

Yes, modern monetary theory disagrees with this idea.

>only inflationary if we are at full employment and capacity

It's getting late, a friend of mine is a professor of economics and he's already spent hours talking about the QE in the past while we play dungeons and dragons and I don't have the energy for it right now.

Anyway, QE also gives the US an advantage as an exporter, though it will be a little while until the supply chain is built up to accommodate that. US workers already have superior productivity per hour compared other nations so companies have been moving skilled manufacturing back to the US so they can keep quality control with their products.

Anonymous Thu Feb 27 23:11:46 2014 No.153655
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For all who do not want their bitcoins anymore, just send some to me. I am broke, and if you don't want to fucking trade them then I will. Pic related. I always choose the winners and cash out at the best times.
17WqteA7HgNE9zpxy1dhCgTp4AFrpe8fNM

tl;dr Give me your bitcoins. I'll make money with them no matter the market outlook.

Anonymous Thu Feb 27 23:15:04 2014 No.153670
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>>152471

Good heavens, that *is* seductive.

I can no longer claim that I don't know how people end up in cults.

Halfway through I was about to write a check that he never asked for.

>>	Anonymous Thu Feb 27 23:18:19 2014 No.153682 >>151571 are bitcoin apps available for the iphone? what about mac os x?

>>	Anonymous Thu Feb 27 23:22:20 2014 No.153697 >>152163 thanks, what did you invest in that made you? i will check out those books.

Anonymous Thu Feb 27 23:42:50 2014 No.153790

>>153424
The bitcoin miners put about as much effort into increasing adoption as anybody. If you back it by gold, then there are no crypto-miners to support it and hardly any incentive for people to help secure the hash network.

You need to realize how valuable 30 Petahashes of protection can be, and how a currency not backed by the hashing power of highly incentivized miners will never be secure. Good luck getting the gold exchanges to pay miners a little gold for hashing the NoFiatCoin.

Your business model, while noble, is not adding up to be profitable. It would end up with a slow, small, and insecure network. In that case you basically are left with the current system of trading fiat for gold IOU's on an extremely archaic network that can, and is regularly, hacked into.

The bitcoin network does many things that your proposal takes absolutely no account for in an attempt to stem volatility. Bitcoin is almost out of the penny stock stage, just give it a year or two. The network is worth it.

>>	Anonymous Thu Feb 27 23:44:20 2014 No.153799 >>153460 That's not going to happen in our case because the easing has not generated any new significant growth. Stocks are rising only because the dollar is starting to fail.

>>	Anonymous Thu Feb 27 23:47:50 2014 No.153812 >>153682 Here is the best answer to that question: http://www.youtube.com/watch?v=bWtYAcCNvdA Yes, it doesn't contain the actual answer to getting bitcoin on an iPhone, just in a slightly more entertaining form than I can convey.

>>	Anonymous Thu Feb 27 23:50:20 2014 No.153826 >>153812 >doesn't I meant to say does*

>>	Anonymous Fri Feb 28 00:12:49 2014 No.153915 it's been really informative and useful having a stickied thread over many days, gg mod. >>153812 right thanks. i'm due an upgrade on my BBQ10, Android it is then.

>>	Anonymous Fri Feb 28 02:51:36 2014 No.154372 >>153346 Excuse my ignorance, but how would an ATM allow for someone to give it bitcoins and spit out cash? It would have to somehow wait until the transaction is actually verified to prevent double spending, no?

Anonymous Fri Feb 28 03:13:54 2014 No.154445

>>154372
Double spending cannot be executed at the point of sale. The only way to do that would be to write at least 6 blocks in a row with the same pool, which could be done with a lot of luck and 40% of the network global hashrate. Then that pool could tamper with the blockchain and do double spends. That is not to say that we could not have alternative blockchains ready for deployment at any time to displace the false block chain.

Anonymous Fri Feb 28 03:30:27 2014 No.154472

>>149252
>Replace some of your money with it for transactions where cash/credit is a big hassle or just simply impossible to use.

I just want to point out that... RIGHT HERE... Is where the entire delusion of BTC can be summarized. Paying by cash and credit is the very definition of easy. In many places you can pay for things without even taking your credit card out of your wallet.

BitCoin will NEVER be easier than cash. Ever. The only time it will be is for things you want an Anonymous paper trail of, such as buying drugs from SilkRoad.

>>	Anonymous Fri Feb 28 03:33:27 2014 No.154477 File: 37 KB, 701x303, givemeyourcash.png [View same] [iqdb] [saucenao] [google]

Anonymous Fri Feb 28 03:41:27 2014 No.154490

>>154472

hardware device built in to a smartphone for sending/receiving BTC, allowing contactless payment in a way that doesn't track or trace the buyer.

safer than cash (can't be stolen), you can verify with fingerprint tech like on the new iphone
no transaction fees

i could send you 50c on 4chan if you write a particularly funny or informative post, using just your ID, and you need never know my identty

i think some tpeople fear identtiy theft and distrust having their details or bank detials in a database somewhere

>>	Anonymous Fri Feb 28 03:51:27 2014 No.154515 >>151060 Ah the good old Martingale strategy - double down on losses continuously until you eventually break even. It's not like that plan won't ever backfire.

Anonymous Fri Feb 28 04:22:15 2014 No.154567

>>154490

Lets break this down one by one.

>hardware device built in to a smartphone for sending/receiving BTC, allowing contactless payment in a way that doesn't track or trace the buyer.
Requires all new hardware to be adopted at an international level - even though we have credit card Tap and Pay options in existence getting them into our phones still hasn't fully happened. Google Wallet is leading this front but they still don't have the adoption rate necessary to make it main stream

Tracking and tracing is something literally 99.9999% of people don't care about. I don't mind if VISA knows I bought 14.73 worth of items at the concession stand in a movie theater. They don't see what was purchased, only the value and where.

This tracking also has the benefit of consumer protection - if you just used your card in Texas and someone tried buying gas in Seattle three hours later? They call you, can lock down your card and issue you a new one in days. If someone stole your private key your money is gone, and given that whole Anonymous and decentralized thing it's impossible to get it back.

CONTINUED

Anonymous Fri Feb 28 04:24:15 2014 No.154569

>safer than cash (can't be stolen), you can verify with fingerprint tech like on the new iphone
Can be stolen, any extra "safeties" would be at client level, like how your phone is locked until you enter a pattern password. If someone gains access to your private key, either through analog or digital means, your money is gone.

If your BTC is stolen your chance of recovering it or even finding out where it ultimately went is marginal at best.

>no transaction fees
I pay no transaction fees on my credit card (Merchants pay roughly 2-3%). I send money on Paypal for free from my balance, or if I were to charge my credit card I can opt to pay 2.9% or have the recipient pay 2.9% for instant electronic transfer from my credit card. While no transaction fees are a major plus to merchants and would help adoption, even when BTC stabilizes it would need to not flucuate by a greater margin than current merchant fees. If you take a payment in BTC and by the end of the day it has dropped 1.9% you didn't really save out, took the risk of having it go up but also had the risk of it dropping more.

>i could send you 50c on 4chan if you write a particularly funny or informative post, using just your ID, and you need never know my identty
Cool. You could also do that if I included my throwaway email in the field in which you could send money to a Paypal account, which I would then transfer to my real account without any transaction fees and you wouldn't even see the paper trail to my real account since there is no block chain. Ironically even more Anonymous than BTC in this regard

Additionally this would never fucking happen on 4chan.

>i think some tpeople fear identtiy theft and distrust having their details or bank detials in a database somewhere
Too bad. It's the 21st century. Get with the times or be left behind.

Anonymous Fri Feb 28 05:09:14 2014 No.154692

>>154569
>even when BTC stabilizes it would need to not flucuate by a greater margin than current merchant fees. If you take a payment in BTC and by the end of the day it has dropped 1.9% you didn't really save out, took the risk of having it go up but also had the risk of it dropping more.

That's assuming the recipient doesn't turn it into dollars immediately.

For example, I want to send Bob some money. I send him BTC to his Coinbase address, and as soon as it is confirmed he sells it.

The price will not likely fluctuate significantly in that time frame.

Anonymous Fri Feb 28 05:20:15 2014 No.154708

>>154692
Now we are back into the whole commodity nature of cryptocurrencies - the territory where it all falls apart.

If your entire currency is based on the concept of selling it immediately to ensure price fluctuation doesn't destroy your margins, it puts little faith in the currency, and would be a reason not to adopt it.

And then this whole thing requires your store, or your brick and mortar store or online web cart, to have an up to the minute exchange rate on the bitcoin exchange of your choice, which adds even more infrastructure and complication to the system when it should be dirt simple.

The reality is any reasonable commerce integration is a decade away.

And really, if the merchants have no faith holding onto bitcoins why would a consumer? If their buying power could be substantially decreased because another exchange blew up they have no reason to hold onto it for purchases.

Everyone is using Bitcoin to try and get rich. The goal is not to use Bitcoin as currency, it's to sell it for money.

I also haven't even gone into the colossal hassle that is face to face / brick and mortar purchases, having to wait for your transaction to verify before you could leave with your merchandise.

>>	Anonymous Fri Feb 28 05:31:33 2014 No.154725 >>154708 It's been said time and again that you don't need to wait for confirmations at the point of sale for your average joe at a store. The rest of your post is fine though.

Anonymous Fri Feb 28 05:47:50 2014 No.154750

>>154472

>inb4 more nonsense from someone who hasn't used/understands it.

Ok, champ. Let me know when wiring money to a distant location (having to fill out forms with your bank and waiting a business day or more for them to file it....and/or physically locating and driving to a western union location and once again filling out more paperwork) will ever be easier than double clicking your bitcoin client, entering the how many btc's to send, along the receivers address field...and pressing 'submit.'

Yeah. No. You're wrong. Again. I can perhaps somewhat entertain the 'speculative bubble' assertions from some of you venereal FUDruckers where there may be 'conventional' parallels in market behaviors...but some of you guys are trying WAY too hard to prove your points now. The easiest...and I do mean easiest way to send money would be to wire via western union online...and that still requires you to jump through a bunch of hoops with paperwork, then phone verification, and more waiting. Plus your receiver still has to walk to their location station to provide ID to pick up the payment.

Not everyone has a paypal account nor wants to deal with ridiculous 3.5% fees, and waiting another 3 to 5 days to withdraw to their bank account. Bank wires and western union? Minimum 20-30+ dollars per.

Transferring cash or credit is NEVER simple or cheap.

Please. If you have zero clue/actual experience in what the hell you are referring to, then have a good fucking seat over there and keep that Steven Tyler sized orifice shut.

Anonymous Fri Feb 28 06:09:50 2014 No.154836

>>154750
>Zero experience
Apparently I have never handled money before.

Real talk, right now. The situations where using a credit card is a hassle is a niche problem. In the situations where it is impossible - like sending money to friends where a traditional bank transfer is impossible? No one cares.

Technology and innovation succeeds by how it can change YOUR life. If you woke up tomorrow and Bitcoin was 100% adopted, how would the world change? How would your life be bettered by it?

For it to be a currency, and not a commodity, you would have to admit it is just another payment method. Any crazy innovative integration schemes that have been proposed in this thread either already exist and are being integrated at the snails pace the retail world works in. Retail establishments still have computers running Windows XP for their point of sale. A few stores here still have their electronic payments processed via a dial up connection.

So you are trying to avoid fees in very limited situations. Cool. It's nice being able to send money to a relative without fees. Well the fees were never that much (unless you are cheap), and if sending them money traditionally is impossible (ie no banks) then them turning the Bitcoin into their local currency is another hurdle.

What was the price of this convenience? This life changing opportunity that a handful of people will use to the fullest extent? Security. Your money is compromised with no insurance. If your wallet is hijacked by Spyware you lost all your money. If a merchant never ships you a product and you want to get your money back? Can't. You want to convert your balance into cash? Well for some reason no one is buying so you have to sell it for less.

Bitcoin is a super inconvinient replacement for systems that already work, and the perceived benefits do not outweigh the massive risk it introduces.

>>	Anonymous Fri Feb 28 06:34:50 2014 No.154908 File: 89 KB, 630x422, mtgox dead.jpg [View same] [iqdb] [saucenao] [google] https://www.youtube.com/watch?v=nmTEm-EnF5A

>>	Anonymous Fri Feb 28 06:35:20 2014 No.154910 File: 4 KB, 210x230, haha-snrk.png [View same] [iqdb] [saucenao] [google] >>154908 >bitto-coino gets me every time

>>	Anonymous Fri Feb 28 07:06:21 2014 No.154984 >Debt of 63million >mtgox's debt is based on made up money

Anonymous Fri Feb 28 07:20:08 2014 No.155028
File: 1.82 MB, 1600x1200, satoshi-nakamoto-comic.png [View same] [iqdb] [saucenao] [google]

>>154908
>>154910
>Guy makes this shit then disappears, and then all you idiots wanted bitcoins.
CREATOR OF VIRTUAL CURRENCY IS BIGGEST TROLL EVER!!! Have fun with all that you early adopters your butthurt gets me LOLS and I'll take my fiat monies backed by guns and evil governments any day over pixie dust coins people poo out of their asses.

>>	Anonymous Fri Feb 28 07:31:54 2014 No.155059 >>133765 that graph nicely shows how this bubble is an exact image of the april one. bitcoin @ $10k withing a year confirmed.

Anonymous Fri Feb 28 07:32:25 2014 No.155064
File: 58 KB, 550x285, worlds-smallest-violin.jpg [View same] [iqdb] [saucenao] [google]

>>154984
>All debt of all nations based on money they made up themselves.
But that all backed up by guys who have big guns and the backing of nations. What the fuck is mt.gox going to do when it's people with big guns are the ones after them like drug dealers and mafia guys no banks to bail their ass now. HAHAHAHAHA! Here let me play a tune for all the losers.

>>	Anonymous Fri Feb 28 07:43:24 2014 No.155100 File: 96 KB, 590x457, I'm not a crook.png [View same] [iqdb] [saucenao] [google] >>153424 There is only a problem, gold backing never works because it will be defaulted on. Always. Would you get gold backed notes from this gentleman?

>>	Anonymous Fri Feb 28 08:04:41 2014 No.155171 apology for poor english when where you when bitcoin dies? i was seat home eating gamer food when phone rings 'bitcoin is kill' 'no'

>>	Anonymous Fri Feb 28 08:05:11 2014 No.155176 >>154908 what did he say

Anonymous Fri Feb 28 08:05:41 2014 No.155174

>>154472
And in many places you can't.
Failing governments impose all kinds of capital controls. For people living in those places, bitcoin already is a wonder of the universe.
There are also many cases where people reside in countries with a bad financial reputation, say, Nigeria. A Nigerian can solve the problem by taking the risk in the transaction, using something like bitcoins or Western Union.
Bitcoins may be difficult to use, but they are a great alternative to have.

>>	Anonymous Fri Feb 28 08:15:11 2014 No.155212 >>155176 Someone translated this as: >"I am deeply sorry" >"There were weaknesses in the system" And that's a traditional bow of apology.

Anonymous Fri Feb 28 08:22:12 2014 No.155233
File: 1.01 MB, 641x697, 3dpd-anime.png [View same] [iqdb] [saucenao] [google]

https://www.youtube.com/watch?v=NeuCuM9CkBc
https://www.youtube.com/watch?v=NeuCuM9CkBc
https://www.youtube.com/watch?v=NeuCuM9CkBc
https://www.youtube.com/watch?v=NeuCuM9CkBc

Karpeles apparently does the entire press conference in Japanese. King weeaboo confirmed.

>>	Anonymous Fri Feb 28 08:23:13 2014 No.155235 >>154708 >The reality is any reasonable commerce integration is a decade away. >predicting technology >predicting technology 10 years out Don't know about all that man.

>>	Anonymous Fri Feb 28 08:24:13 2014 No.155242 >>154569 >Additionally this would never fucking happen on 4chan. Weren't people getting tipped for shoving things up their asses a few years back? I think that counts as a funny and informative contribution to 4chan.

Anonymous Fri Feb 28 08:24:43 2014 No.155238

Is the CEO the original developer?
Is he just some university/high school dropout turned millionare turned dirty gaijin in debt for life getting deported back to his home country.

>>154908
Looks like he's going to break into tears at any moment, guess he really got into the deep end when really he should have never swam in the first place.
>Make believe money ruined a guys life

>>	Anonymous Fri Feb 28 08:27:13 2014 No.155246 >>155233 Actually, this brings me to my next question. Why the fuck did mark set it up in japan in the first place, he doesn't look wapanese. Or is he a half-breed mut?

>>	Anonymous Fri Feb 28 08:31:42 2014 No.155254 Karpeles really is living like in Wolf of Wall Street

>>	Anonymous Fri Feb 28 08:35:29 2014 No.155265 >>155246 Perhaps because bandwidth there is extremely cheap.

>>	Anonymous Fri Feb 28 08:36:28 2014 No.155267 >>155246 He's French but he's been living in Japan for over 4 years.

Anonymous Fri Feb 28 08:37:00 2014 No.155271

>>155233
>The Mt. Gox bitcoin exchange in Tokyo filed for bankruptcy protection Friday and its chief executive said 850,000 bitcoins, worth several hundred million dollars, are unaccounted for.

http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2014-02-28-Japan-Bitcoin/id-2883cfb55294411c80718800e87e8bdb

but where did the bitcoins go? were they stolen by someone, or destroyed or what?

Anonymous Fri Feb 28 08:38:59 2014 No.155274

>>155267
>Japan for over 4 years
So that means the only way he would have stayed in japan for that long is based on a working visa(i take it that he has no spouse and there's no current other way to stay in japan for that lengthly of a period)
>he was his own employeer, that allowed him to stay

>>	Anonymous Fri Feb 28 08:39:28 2014 No.155275 >>155271 they still haven't properly answered that question, it's fueling a lot of speculation. people think he's under a gag order (he linked to 9gag in an interview)

>>	Anonymous Fri Feb 28 08:40:29 2014 No.155279 File: 54 KB, 699x451, 3dpd.jpg [View same] [iqdb] [saucenao] [google] >>155274 >i take it that he has no spouse

>>	Anonymous Fri Feb 28 08:40:29 2014 No.155281 >>155271 Earlier they tried to blame the "bitcoin protocol" on issues that people were allowed to withdraw over and over.

>>	Anonymous Fri Feb 28 08:48:00 2014 No.155296 >>155233 >has company in foreign country >knows the language >weeaboo come on son

>>	Anonymous Fri Feb 28 08:49:28 2014 No.155298 >>155275 so lets say those coins no longer exist if there can only be 21 million coins, coins disappearing could be a problem in the long run right?

>>	Anonymous Fri Feb 28 08:50:28 2014 No.155299 >>155296 i take it you haven't seen this >>139632 he's one of us ;_;

>>	Anonymous Fri Feb 28 08:50:58 2014 No.155300 >>155298 but those coins from mt.gox haven't disappeared. they're still in the network wallet that people had on their drives with coins that got destroyed that's different.

Anonymous Fri Feb 28 08:57:00 2014 No.155325

>>155174

I AM ON BEHALF OF SATOSHI OF MTGOX.

I NEED YOUR HELP TO TRANSFER AN ACCOUNT OF 5M BTC (5,000,000 BITCOINS) FROM MTGOX ACCOUNTS. AS A PARTICIPANT YOU WILL GAIN 500,000 BTC FROM THIS TRANSACTIONS. ALL MODALITIES WILL BE TAKEN CARE OF BY US AND YOU. REPLY TO THIS EMAIL FOR FURTHER INSTRUCTIONS.

SATOSHI CORP.
NIGERIA

Anonymous Fri Feb 28 08:57:30 2014 No.155321

>>155300
>wallet that people had on their drives with coins that got destroyed that's different.
that's what I'm thinking, that if there's 21 million coins, that number may be decreasing over time. Is this a big problem or it doesn't matter because you can split a bitcoin into many pieces?

>>	Anonymous Fri Feb 28 08:59:00 2014 No.155330 >>155279 >not becoming a millionaire so you can pay for a disgusting 3DPD qt jap to roleplay as you're waifu It's the closest we can get to 2D

>>	Anonymous Fri Feb 28 09:11:30 2014 No.155373 >>155321 well splitting bitcoin into pieces really depends on what a single coin is. if say bitcoin goes back to $1, then everyone will have to trade multiple whole coins >>155299 Our King

>>	Anonymous Fri Feb 28 09:12:00 2014 No.155378 >>155373 >what a single coin is worth*

>>	Anonymous Fri Feb 28 09:31:30 2014 No.155425 >>154908 i was waiting for him to commit sudoku. all i got was spaghetti.

Anonymous Fri Feb 28 09:39:29 2014 No.155448

>>155373
>>155321
One coin can be subdivided to 8 digits.

There aren't 21 million coins, that's the total number of potential coins if miners keep at it until 2100 or so. There are 12,400,000 or so right now.

Coin destruction, freezing and seizures have been a problem, obviously.

>>	Anonymous Fri Feb 28 10:00:18 2014 No.155490 >>155271 Wonder if they were spent secretly? That's what happens at this part of the American greed episodes.

>>	Anonymous Fri Feb 28 10:05:20 2014 No.155513 >>155298 >>155300 The coin should still exist. The attraction of bitcoin was that each coin has it's own history and could always be traced.

>>	Anonymous Fri Feb 28 10:16:48 2014 No.155553 >>155298 you can own .00000001 bitcoin, so no

>>	Anonymous Fri Feb 28 10:20:52 2014 No.155569 File: 169 KB, 469x334, Cartman.png [View same] [iqdb] [saucenao] [google] >>155271 >but where did the bitcoins go? were they stolen by someone, or destroyed or what? http://www.youtube.com/watch?v=t2h3X9dQifc

Anonymous Fri Feb 28 10:21:52 2014 No.155574

>>154569

I think you underestimate the need to a viable, incredible easy to use, micropayment system. I think whoever invents this will be the next Zuckerberg

You underestimate how close many industries are to folding or are barely in the black thanks to the levelling force of the internet. The order of the day seems to be one or two monopolistic organisations (Google, Apple, Facebook) and everyone else can suffer. Whoever reverses this paradigm shift like I said will be a hero.

I'm talking particularly about digital industries. That newspaper article you just read on that site .. would you pay $0.05 for it, if it was a simple matter of swiping your phone against a hardware device attached to your computer, for example? 4chan.org, pre-captcha, was perpetually on the verge of folding. If I could hve 'donate' anonymously, i'd have probably done it. That software you downloaded, leaving the developer begging for a contribution... 80% of the problem is the hassle, fear of ID theft, and the unknown of entering details into a new system.

This contactless payment system could also be use RFID style tech to pay for all sorts of goods and services in the real world too.

Anonymous Fri Feb 28 10:23:51 2014 No.155578

>>155553
If you want bitcoin to be pegged to a stable dollar currency to price it's transactions then the deflation won't be as much of a problem. If you try to use it as an actual currency then shrinking the money supply has an obvious deflationary effect.

>>	Anonymous Fri Feb 28 10:26:21 2014 No.155584 File: 839 KB, 300x169, standing ovation.gif [View same] [iqdb] [saucenao] [google] >>154836 >>154708

Anonymous Fri Feb 28 10:33:50 2014 No.155600
File: 1006 KB, 260x187, hahaha oh god.gif [View same] [iqdb] [saucenao] [google]

>>154708
> face to face / brick and mortar purchases, having to wait for your transaction to verify before you could leave with your merchandise.

>mfw bitcoin was a scheme by big box stores to make you spend more time in the store buying shit while your previous order clears

>>	Anonymous Fri Feb 28 10:41:52 2014 No.155628 File: 321 KB, 621x459, bitcoinboner.png [View same] [iqdb] [saucenao] [google] http://www.youtube.com/watch?v=fVobjVZK6ho

Anonymous Fri Feb 28 11:16:52 2014 No.155767

>>155271
>bitcoins go? were they stolen by someone, or destroyed or what?
Say you have a wallet.dat of 5 bitcoins
and you lose your wallet.dat
That's it, the bitcoins are gone for good because they're still assigned to that address.
The best way to win at bitcoins is to get in early and horde.

>>	Anonymous Fri Feb 28 11:17:53 2014 No.155774 File: 917 KB, 933x2637, Time For More Faggotry.png [View same] [iqdb] [saucenao] [google] Capped for reasons

Anonymous Fri Feb 28 11:36:10 2014 No.155864

>>155767
The excuse Gox has been using is that some hackers effectively intercepted Gox's transactions, modified their (the hacker's) transactions to look like a Gox transaction, and ended up with the Gox coins. Roughly.

What I don't get is, how didn't Gox realize this years ago?

Anonymous Fri Feb 28 11:58:39 2014 No.155961

>>155864
That's not what happens, what happens is that you make 2 transactions with the same coins, mtgox dont wait "that" much to verify the transaction, so it just take it and give you money or coins. But because the another transaction is procesed faster, that another transactions is the one that get added to the block and the other is discarded but mtgox already sent out the money/coins.

>>	Anonymous Fri Feb 28 12:01:41 2014 No.155971 >>155961 Reference here: https://bitcointalk.org/index.php?topic=314901.0

>>	Anonymous Fri Feb 28 12:24:45 2014 No.156040 >>155774 jesus

Anonymous Fri Feb 28 13:17:41 2014 No.156307

>>155961
I've been trying to wrap my head around this, myself.

So is the accusation that someone does this?

1. Wallet A pays 1 BTC to Wallet B.

2. Owner of Wallet A takes a copy of the A>B transaction, alters it to appear to be a payment to MtGOX, then puts it into the chain.

3. MtGOX sees this fake transaction and before it's verified issues the coin credit in their system.

4. Owner of wallet A then withdraws the coin from MtGOX. They now have 2 coins.

What's important is step #2. I wasn't sure if that was possible with transaction malleability, or if both transactions had to be to the same recipient to be seen as the same coin in the system. If they do have to be to the same recipient, I don't see how anyone could use malleability to steal a coin.

>>	Anonymous Fri Feb 28 13:20:40 2014 No.156325 File: 2.48 MB, 525x268, 1373071825331.gif [View same] [iqdb] [saucenao] [google] Can we finally go back to using cryptocurrencies for buying drugs and avoiding tax, instead of commodity speculating, then?

Anonymous Fri Feb 28 13:21:42 2014 No.156333

>>154569
>Additionally this would never fucking

That exactly what pioneering thinkers such as yourself said about driving a car to work, using a computer to check your mail, watching television instead of listening to the radio...

> It's the 21st century. Get with the times or be left behind.

So says the man who thinks paper money is superior to cryptocurrency. Why so bitter, bro?

>>	Anonymous Fri Feb 28 13:26:16 2014 No.156351 >>155238 >Implying he hasn't probably embezzled millions >Implying at the very least he hasn't made loads on insider trading >Implying he's not going to come out of this stinking rich yet unknown to most people

Anonymous Fri Feb 28 13:28:41 2014 No.156361

>>154750
>venereal FUDruckers

I fucking lel'd

It is so hard to keep repeating the exact same solution to these morons who keep playing semantics all day long.

"See, that is where the internet just falls apart, the communications end of it. I have a phonebook with all of friends numbers in it that I can call right now. I never even heard of anybody using the internet to talk to one another. So if it isn't phone, then what is it?"

If you can't nail it down and define it perfectly using only words that existed before the device was ever even imagined for the very first time then these dinosaurs will pretend like they don't like it until it can be spoon fed to them in a Reader's Digest format.

Anonymous Fri Feb 28 13:33:41 2014 No.156386

>>154836
>Bitcoin is a super inconvinient replacement for systems that already work

Takes about 5 minutes to sign up on Coinbase and 5 minutes to fully train an employee on how to use Bitcoin. Seems like it is worth the work to double your profit margins, no? How much does it cost businesses to install and upgrade their credit devices every few years? Seems legit.

Anonymous Fri Feb 28 13:39:40 2014 No.156415

>>156307
no, it works like this.

1. attacker withdraws funds from gox to his private wallet. gox tracks the transaction by an ID, that's unique for every transaction on the bitcoin network.

2. attacker fucks with the transaction in such a way that it's rejected by the network, but the money is still spent, just under different transaction ID

3. attacker claims his money never arrived, and asks gox to resend it

4. gox sees that the transaction under it's original ID was rejected, but fails to check for any other outgoing transaction for the same amount. so it assumes the amount was not spent, and sends it amount again.

since the balances on customers accounts are just numbers in a database, and gox apparently never audited if they correspond to transactions to bitcoin network, they didn't realize this until the hot wallet ran out of funds.

>>	Anonymous Fri Feb 28 13:40:41 2014 No.156420 >>156386 As long as you are willing to trust exchanges to hold large BTC company balances. That would be unwise.

>>	Anonymous Fri Feb 28 13:42:40 2014 No.156427 >>155574 >I think you underestimate the need to a viable, incredible easy to use, micropayment system. It's called Bitcoin.

Anonymous Fri Feb 28 13:43:42 2014 No.156434

>>156415
Not monitoring the status of their wallets was at least criminal negligence. It's impossible they would not have seen them bleeding away.
I think that, maybe, they didn't notice it for a long time, but only discovering it when they were dry seems to be extremely unlikely.
I'm calling robbery here.

Anonymous Fri Feb 28 13:43:42 2014 No.156435

>>156333
>That exactly what pioneering thinkers such as yourself said about driving a car to work, using a computer to check your mail, watching television instead of listening to the radio...

This is not an argument. The success of past technologies is not a guarantor of the success of future technologies. People said cars were a pointless novelty when they were steam powered - and while cars later took off, we don't see the Stanley company dominating the market based on their early start in steam cars.
Plenty of technologies are ridiculed and then proceed to fail - look at all the jet-powered vehicles in the 60's. On top of that, some technologies offer promise but take tremendous effort to be made workable, and then underperform initial expectations, like rotary car engines. I know these are all transportation-based examples, but they are all I can name off the top of my head for some reason.

In any case, I think you are way too optimistic. I think cryptos will ultimately succeed, and I do have a stake in Bitcoin, but all this damage control you're doing comes off as cultish delusion. Yes, the media is misreporting the problems with Bitcoin. Yes, the general public does not understand Bitcoin. That does not dismiss the fact that the greater Bitcoin ecosystem has major obstacles to mainstream acceptance, the first of which is that it assumes that the average person is sufficiently competent to install software and keep their PC or smartphone secure.

>>	Anonymous Fri Feb 28 13:46:22 2014 No.156445 >>156415 The attacker creates a transaction that is the same as the original except for the TxID. He then hopes that it’s the original transaction that gets rejected, and not his one.

Anonymous Fri Feb 28 13:49:52 2014 No.156456

>>156420
>As long as you are willing to trust exchanges to hold large BTC company balances.

That is the dumbest thing anybody on here has every said. Go look up how Coinbase and Bitpay work. They are not exchanges. Your "balance" is held by them for a fraction of a second, and since you still definitely make a post about how bitcoin drops by 9000% every couple of seconds so they still lose all their money every time, the price is locked in the moment the payment is initiated. Bitpay takes on all of the risk that any credit card company would as far the business is concerned, but it charges 1% and gives them their money right away instead of half a fucking week later.

>>	Anonymous Fri Feb 28 13:51:52 2014 No.156463 >>156456 As long as they have the USD on hand to actually convert BTC into it. The moment they don't, they can't pay anymore.

>>	Anonymous Fri Feb 28 13:52:51 2014 No.156468 >>156435 Technologies that help the world connect usually make it. Have you actually used a bitcoin yet for anything?

>>	Anonymous Fri Feb 28 13:54:52 2014 No.156477 >>156463 They will be held liable for anything that they cannot process. Coinbase is in the USA and abides by every law as every other payment processor. They resemble Gox about 0%

>>	Anonymous Fri Feb 28 13:55:51 2014 No.156479 >>156468 >Technologies that help the world connect usually make it. You mean like Kickstarter, Gumroad, eBay, Paypal, and Amazon Payments?

Anonymous Fri Feb 28 13:58:22 2014 No.156492

>>156479
Yeah, they will all save a bunch of money by switching to bitcoin. Then anybody in the world could make a kickstarter project and it could be donated to by anybody else. By who would want to save money and open up new avenues for trade? Sounds like a scam for sure.

Anonymous Fri Feb 28 13:58:22 2014 No.156494

>>156468
I have bought a 4chan Pass and several Humble Bundle games alongside the usual daytrading, as well as liberally throwing Dogecoins around while that was getting started. I ma about to book a vacation flight and pay with Bitcoin through Cheapair, and I'm looking at getting some furniture from Overstock.com if the value in USD goes back up.

Cryptocurrencies have a future, like I said, but the Bitcoin community's unwillingness to acknowledge the problems preventing widespread adoption may mean that the niche Bitcoin is trying to fill ultimately goes to a different system that solves those problems.
The new system may not look anything like Bitcoin, as some of its features - decentralized mining, anonymity, and irreversability - are not necessary to function as a mainstream international digital currency.

Anonymous Fri Feb 28 14:10:54 2014 No.156564

>>156333
>That exactly what pioneering thinkers such as yourself said about driving a car to work, using a computer to check your mail, watching television instead of listening to the radio...

>Go ahead, laugh away. They laughed at Einstein, Galileo and Leonardo. We'll see who gets the last laugh.
- the retarded kid on the school bus who pissed his pants

>>	Anonymous Fri Feb 28 14:10:54 2014 No.156570 >>156494 >Bitcoin community's unwillingness to acknowledge the problems preventing widespread adoption Like what? I cannot think of a single problem that the community is not furiously working toward solving.

Anonymous Fri Feb 28 14:17:24 2014 No.156605

>>156570
>I cannot think of a single problem that the community is not furiously working toward solving.

That is abundantly clear. Whenever a problem is pointed out ITT, you recast it as either an advantage or something outside the design scope of Bitcoin.

User education and technical proficiency are problems facing Bitcoin which the Bitcoin community is not working towards solving, and in fact seems actively hostile to solving. It's easy to laugh at Facebook-obsessed normies when they get a virus that wipes their user folder, but these people's inability to secure their own machines is what drives them to leave cryptocurrency on insecure exchanges and online wallets. The response of Bitcoiners is then, "lol, should have kept it in your local wallet, faget," as if a Windows 7 laptop with 14 spyware toolbars in IE11 is preferable to an exchange.

>>	Anonymous Fri Feb 28 14:35:23 2014 No.156709 >>155296 Yeah, but he's really bad at speaking it. did you hear how many あのs he used?

>>	Anonymous Fri Feb 28 14:40:54 2014 No.156736 The beginning of the end for buttcoins. Hopefully the crypto-currency craze will end here.

>>	Anonymous Fri Feb 28 14:45:23 2014 No.156751 WAKE UP! TRADING SITE HAS HAD A LITTLE SHAKE UP. WHY ARE ALL YOUR BITCOINS GONE FOREVER? MAYBE THIS WAS NOT A WISE ENDEAVOR.

>>	Anonymous Fri Feb 28 14:51:57 2014 No.156783 >>156751 10/10

Anonymous Fri Feb 28 14:57:28 2014 No.156813
File: 46 KB, 768x1024, BgM_FnVIYAAfYWB.jpg large.jpg [View same] [iqdb] [saucenao] [google]

>>156605
I always tell people not to use Gox and to keep encrypted backups of their wallets on multiple offline devices, and I don't insult them. 4Chan and other message boards that don't represent the bitcoin community have lots of trolls and there is absolutely nothing anybody can do about that.

Yes, we do need to educate people and that is why you will see me in threads like this posting links to reputable resources of information and trade. Eventually you will see commercials about bitcoin services from big banks. This is the direction it is moving and it is not slowing down.

First bank to pilot test bitcoin internally: http://www.coindesk.com/africas-largest-bank-trials-bitcoin-integration-system/

>>	Anonymous Fri Feb 28 15:12:58 2014 No.156893 File: 396 KB, 245x138, dat oh lord my sides.gif [View same] [iqdb] [saucenao] [google] >People actually trusted buttcoins

>>	Anonymous Fri Feb 28 15:16:27 2014 No.156911 >>135024 >Because if that shit ever comes back up again it will go to single digits and stay there. Were you dropped on your head as a kid?

Anonymous Fri Feb 28 15:16:27 2014 No.156915

>>156813
>Eventually you will see commercials about bitcoin services from big banks. This is the direction it is moving and it is not slowing down

Beware of any business that speaks with this kind of pseudo-religious certainty.

You are the problem with Bitcoin.

>>	Anonymous Fri Feb 28 15:29:58 2014 No.156990 File: 146 KB, 1024x768, tulip_4.jpg [View same] [iqdb] [saucenao] [google] I WARNED YOU ABOUT THE FUCKING TULIPS

>>	Anonymous Fri Feb 28 15:34:58 2014 No.157015 File: 189 KB, 200x200, 1283828206423.gif [View same] [iqdb] [saucenao] [google] >>156427 lol this shill http://www.ebaumsworld.com/video/watch/80714013/

>>	Anonymous Fri Feb 28 15:38:27 2014 No.157024 File: 90 KB, 1280x720, lupin_iii.jpg [View same] [iqdb] [saucenao] [google] I wonder where those bitcoins went...

>>	Anonymous Fri Feb 28 15:54:29 2014 No.157110 So how much did you invested in this shit. I put like $500 on this. A lot for a neet like me. But I guess it could have been worse

>>	Anonymous Fri Feb 28 15:55:28 2014 No.157120 If only there was less regulation this never would have happend

Anonymous Fri Feb 28 16:03:05 2014 No.157163

>>156333
Every time I see the arguments regarding cars it just shows me people don't know what in the hell they are talking about.

The purpose and utility of a car was obvious to everyone who saw one. If you were to give the option of providing someone with a car for free, or letting them continue using their horse, those prehistoric nuclear families would take the car for sure. There are many obvious advantages to a horse.

The issue with cars was the initial barrier to entry. It was high. It was like buying a second house. When your option is to have a car, or to not blow your entire life savings and keep using what has worked for you? You take the safe route. Only once the exorbitant cost of cars began to fall off did more and more Americans adopt it, which brought the price down even further. The price has reached a happy medium where most people can potentially benefit.

Even then cars are not a 100% success. There are millions of people in cities around the world who rely on public transportation to get to and from work - the cost of owning a car does not outweigh the benefits. Why would someone want to buy a car and pay $20.00 a day for parking, plus gas, plus insurance, plus taxes, plus maintenance, when five bucks a day gets you to and from where you want to be? Why adopt the car, that has exponential value and utility over taking a subway train, when you won't reap the benefits?

CONTINUED

Anonymous Fri Feb 28 16:03:29 2014 No.157160
File: 132 KB, 1000x593, Rube Goldberg Mouse Trap.jpg [View same] [iqdb] [saucenao] [google]

>>156813

>not to use XYZ and to keep encrypted backups of their wallets on multiple offline devices
>>153790
>You need to realize how valuable 30 Petahashes of protection can be
>>153223
> Progress is being made on a huge scale to figure out how this invention can best benefit everybody in a legal and just fashion

Anonymous Fri Feb 28 16:06:03 2014 No.157186

>>157163
And this is exactly where Bitcoin falls apart. The common man derives little to no benefit from any Cryptocurrency. It's inherently more dangerous, more inconvenient, and just worse than conventional money. There are small niche purposes where the money really shines, but in no way does sending money to your family member in Uganda equal direct day to day usability and universal adoptability of a currency.

You need to examine at the concept of cash. You need to look at why/how both Credit Card and Debit Cards revolutionized the way we pay for things. Why people use them, and how their lives are changed because of it. If you don't, you will never be able to create a successful replacement/parallel product to them.

Right now every perceived benefit to Bitcoin, both present and future, is completely fucked over if someone does something. Want exchanges with minimal fees? Someone makes a new Paypal. Fingerprint readers for your digital wallet? Nothing stopping VISA from implementing that. Ability to pay wirelessly by tapping your phone? Google is working on it.

People shill Bitcoin because they are desperate to make money. They do not want to use Bitcoin as a currency, they want to sell it to someone who will give them currency. This is a universal fact of every Crypto thread, Bitcoin Forum, and any examination of the BTC > USD exchange rate history.

>>	Anonymous Fri Feb 28 16:19:36 2014 No.157254 >>157160 >setting off miniature rocket (H) which takes him to the moon MOUSECOIN WHEN I AM READY TO BUY

Anonymous Fri Feb 28 16:22:20 2014 No.157278

>>157110
I put $200 in, got $1500 out, bought graphics cards with that, and mined Dogecoin, half of which I have sold for ~$10,000.

I am pretty satisfied with cryptos at the moment, just waiting for everyone to stop pissing themselves over Gox and decide if they're in or out.

Anonymous Fri Feb 28 16:27:52 2014 No.157313
File: 219 KB, 700x699, 1386284524522 dau.jpg [View same] [iqdb] [saucenao] [google]

>>157186

A-frigging-men.

Shill 2pYiHdoU has maundered on post after post about how all the problems will be solved "someday" as soon as every merchant on Earth bends to his will for no reason other than he imagines they should, to spend money to accommodate the Bolivian miner looking to use his smart phone to send his brother in Guatemala 50 BTC to buy a pack of gum because theres no telling what it will be worth in btc by the time the app works, transactions completed, hacked, embezzled, re-regulated and finally withdrawn from Belarus and wired back to the Futurama ATM waiting to be built in Cameroon where it was banned for funding rebels, narco, pedos and nerds who can't summon the balls to find weed.

Check his posts. He isn't discussing, he's shilling. He wants you to feel safe giving your actual money that he derides for his bullshit moribund ponzi scheme.

Probably trying to stop losses. It's become so obvious now that I am beginning to think he is just trolling. It would take a sense of humor to be that obvious and not also be a satire for bit-shillers.

>>	Anonymous Fri Feb 28 16:29:51 2014 No.157321 File: 56 KB, 586x326, Mousey Money.jpg [View same] [iqdb] [saucenao] [google] >>157254 lol

>>	Anonymous Fri Feb 28 16:32:21 2014 No.157332 >>132878 LOL. I love idiots like you.

Anonymous Fri Feb 28 16:44:22 2014 No.157405

>>157186
>Want exchanges with minimal fees? Someone makes a new Paypal.

Try matching bitcoins fee without going out of business.

>Fingerprint readers for your digital wallet? Nothing stopping VISA from implementing that.

Never did anybody mention this as a key feature of bitcoin. See: speed and price

>Ability to pay wirelessly by tapping your phone? Google is working on it.

See: speed and price

>>157313
Shopkeepers get the advantage of getting their money more quickly and without nearly as many fees when they use bitcoin. However, according to this genius, that is not a good reason for them to want to adopt it.

Funny how you call me a shill when all you have done in this entire thread is write baseless poetry without any information to back it up.

Anonymous Fri Feb 28 16:56:22 2014 No.157469

>>157405
>Try matching bitcoins fee without going out of business.
Paypal fees are exceptionally low and in line with cost of business. However I know Paypal skimming a few dollars per hundred for some people is a lot, so if someone were to make a "flat fee" or something <1% it would be a huge value.

In Canada we have the ability to email money to any bank account in the country. The cost of this is $1.50 flat fee regardless of the amount. There is a $5,000 per day limit for security purposes and to help avoid embezzling. Additionally you can also transfer money between banks in two-three business days in any quantity, or instantly if it's with the same bank. This payment method has now become THE way to send money to friends and family within the country.

>Never did anybody mention this as a key feature of bitcoin. See: speed and price
You see suggestions like this all the time on forums, ways that can revolutionize Bitcoin and make it safer. It's not universal and the inherent design of Bitcoin is the exact same flaws that are present now will be present in a hundred years - it's decentralized and can't be updated.

Speed? You have to wait for transactions to verify - cash, debit, credit, Paypal, Google Wallet, Amazon are all instantaneous. Merchants receive this money pretty mu

Price? Day to day transactions for most things are free. I pay nothing to use my credit card. I receive 25 transactions from my debit card per month. It costs me nothing to use cash. Every time I purchase something on eBay I pay no fees.

Additionally in transfer fees I have spent less in three years on sending money to friends and family through methods in which I am charged than I would have lost in one of the Bitcoin crashes because someone posted a news article. I think the total amount is about 37 dollars, so roughly a dollar a month.

>>	Anonymous Fri Feb 28 17:04:52 2014 No.157500 >>154836 >systems that already work wrrrrrrrrrrrrriiiiiiiiiiiiiiiiiiiiiiiiigggggggggggggggghhhhhht

Anonymous Fri Feb 28 17:05:51 2014 No.157502

>>>157313
>Shopkeepers get the advantage of getting their money more quickly and without nearly as many fees when they use bitcoin. However, according to this genius, that is not a good reason for them to want to adopt it.
>zero fees
>volatility of currency has to be accounted for
>either sell bitcoin for real money which defeats your entire argument because you now have to pay currency transfer fees from traditional methods and wait for your cash to enter your account
>hold onto BTC and hope Gox 2.0 doesn't happening and you lose 20% overnight because NY Times posted an article.

>Funny how you call me a shill when all you have done in this entire thread is write baseless poetry without any information to back it up.
You haven't provided any information either. You say it's fast and free. Other payment methods in day to day business are equally fast. The fee's are cost of business, and the removal of them adds an insane amount of risk to everyone who uses cryptocurrencies. The cost of fee's, that the consumers don't even pay for knowingly, is not worth the cost of having your money protected and secure.

You are a shill because you herald these small, minute benefits while being completely oblivious to the insurmountable obstacles people have to face in adopting Bitcoin as an actual method of payment.

The only true benefit to Bitcoin is the lack of transfer fees - which you pay for by lack of Security. It's like not having Health Insurance. If you never get sick you are up a couple bucks. If you get sick you are fucking boned.

The only reason the fees matter to you is if
>a- you are a cheap motherfucker and don't see the value in paying a couple bucks to instantly send money via a secure method (which will probably have to be used anyways to turn that BTC back into money)
>b- you are a bitcoin shill who is desperate for bitcoin to succeed so you can sell out and make back your losses from the most recent Gox crash
c- you are 12 years old.

>>	Anonymous Fri Feb 28 17:07:53 2014 No.157511 File: 20 KB, 423x615, 1377673260833.jpg [View same] [iqdb] [saucenao] [google] >>157500 Apparently this Anon has never purchased anything with cash, debit or credit before. >What can I get for three chickens and a goat?

>>	Anonymous Fri Feb 28 17:08:22 2014 No.157519 >>157511 You don't get it, it's all bullshit fiat currency! Deck chairs on the Titanic!

Anonymous Fri Feb 28 17:08:52 2014 No.157517

>>157469
>it's decentralized and can't be updated

This is demonstrably wrong. Several updates to Bitcoin have been pushed out. The client prompts you to upgrade and warns of a fork with the blockchain if you stay on the old version. Decentralization does not mean static code.

Anonymous Fri Feb 28 17:10:22 2014 No.157526

>>157469
>bitcoin can't be updated

It has been forked three times already and updated with new features.

>flat fee of $1.50
Micropayments don't work with such fees. Plus that fee is absolutely outrageous in light of bitcoin fees.

>I can transfer to other bank accounts
What about people with absolutely no access to a bank? What if they are abroad? How much are the fees then?

>Paypal is inline with the cost of business
That is because no business has ever utilized a P2P hashing network as a way to transmit money. If that becomes the norm then current fees on Paypal will seem like highway robbery, which they already do to anybody who has ever used bitcoin.

>I don't transfer money like this often and I don't own a store that could double profit margins on every bitcoin purchase.
I get that you see no need for you to use bitcoin. Don't use it. Bitcoin is not for everybody right now.

>>	Anonymous Fri Feb 28 17:10:52 2014 No.157527 >>157519 Careful with that, you're edging towards Poe's Law territory.

>>	Anonymous Fri Feb 28 17:14:53 2014 No.157544 >>155774 I like how all the fags are buying, and can't understand why the price isn't dropping lower.

>>	Anonymous Fri Feb 28 17:15:53 2014 No.157546 >>157502 >d- I believe bitcoin will make the world better in many ways for many people. You left out the correct answer choice.

Anonymous Fri Feb 28 17:19:22 2014 No.157560

>>156445
Okay, so this is the part I don't get...

Doesn't doing this require knowing the transaction prior to it being put into the Bitcoin chain?

Wouldn't that require having knowledge or access to information from the MtGOX side of the transaction?

Or can you just pretty much make up any sort of transaction, dump it into the stream and bitcoin will say, "Yup, looks legit."

Anonymous Fri Feb 28 17:24:09 2014 No.157575

>>157526
>It has been forked three times already and updated with new features.
I'm talking substantial updates, massive changes to increase security, usability, and convenience.

>Micropayments don't work with such fees. Plus that fee is absolutely outrageous in light of bitcoin fees.
What don't you understand? When I bought Angry Birds on my iPhone I paid a dollar. I paid no fees, no nonsense. It was instantaneous.

Even though Apple has my credit card details on file, if they start charging my credit card without authorization I can call of VISA and tell them not to process the charges / chargeback. I can't do that with Bitcoin.

Once again if you think a dollar and a half is outrageous to instantly send up to 5000 dollars anywhere in the country you are cheap. It's that simple. There is no other way around it. Odds are if you are too cheap to shell out 1.50, you aren't sending 500 bucks to anyone.

>What about people with absolutely no access to a bank? What if they are abroad? How much are the fees then?
It might be hard for those people to turn that BTC into their local currency then. Once again even more niche: the people who don't have a bank account but have an easy way to change BTC into money...

>That is because no business has ever utilized a P2P hashing network as a way to transmit money. If that becomes the norm then current fees on Paypal will seem like highway robbery, which they already do to anybody who has ever used bitcoin.
It's not highway robbery. It's the cost of a service. It's a very reasonable fee.

>>I don't transfer money like this often and I don't own a store that could double profit margins on every bitcoin purchase.
Please explain to me how reducing a 2-3% fee not charged on every purchase in the store doubles profit margins on every purchase?

Anonymous Fri Feb 28 17:25:10 2014 No.157583

MtGox has always been run by incompetent fucks, anyone with just a little bit of sense could've noticed that.
Still I'm sorry for all the losses involved. This won't hinder bitcoin though, just make it stronger in the long run.
People need to be more vigilant with their coins.

>>	Anonymous Fri Feb 28 17:25:10 2014 No.157585 >>155267 >He's Jewish but he's been living in Japan for over 4 years. Fixed.

>>	Anonymous Fri Feb 28 17:29:08 2014 No.157594 >>157585 jew meme :)

>>	Anonymous Fri Feb 28 17:31:39 2014 No.157597 >>157583 Yeah, no. Personal vigilance and a consumer economy don't go hand in hand.

Anonymous Fri Feb 28 17:32:08 2014 No.157606

>>157597
Yea well, it will have to. Either people learn to not keep big stashes of money at online websites, or they keep their BTC amounts stored online low.
I know I'm no better, my coins are all up on some exchanges, but still. You gotta tread them like cash.

>>	Anonymous Fri Feb 28 17:32:09 2014 No.157605 how much dough did he put aside?

>>	Anonymous Fri Feb 28 17:33:09 2014 No.157611 >>132385 >bitcoin babby >investing in supercars Kek, not surprising. Not that it was not a rental car anyway. Top fucking lel I am enjoying the butthurt of cryptobabbies so much I could fap to the thought of them losing money.

Anonymous Fri Feb 28 17:33:39 2014 No.157609
File: 48 KB, 300x300, 1393626805550.jpg [View same] [iqdb] [saucenao] [google]

>>157575
>$1 is a micropayment
No it is not. I cannot argue with you if you don't understand financial terminology.

>people who don't have a bank account but have an easy way to change BTC into money...

They don't, they use BTC as money in that case. Kenya's consumer economy is has 40% of purchases made using cell phone minutes. Tell me how they need the local currency? Most people in Africa don't use their local currency due to inflation.

>Paypal: a very reasonable fee
3.5% sounds reasonable to somebody who has never used bitcoin. We know this already.

>Please explain to me how reducing a 2-3% fee not charged on every purchase in the store doubles profit margins on every purchase?

Average range of profit margin for retail stores and online stores is 2-5%, meaning if they use bitcoin via Bitpay then they can double their profits. They never have to take any risk on exchange rates, Bitpay does that for them.

>>	Anonymous Fri Feb 28 17:35:09 2014 No.157615 >>157606 Commodity tokens more than cash, but yeah. The reason why we have fraud algorithms that detect unusual purchases, why we have layers of protection is that you can't expect everyone to be vigilant all of the time and have a functional economy.

Anonymous Fri Feb 28 17:37:11 2014 No.157633

>>157575
>fee not charged on every purchase

Curious, on what purchases do credit card companies not charge the store a fee? I am guessing those are on small purchases and they use a flat rate in that case, like maybe 44cents for any purchase under $10, which just means they are charging more than 2-3%, which means the retailer using bitcoin would increase profit margins even more on smaller purchases.

Am I missing something?

Anonymous Fri Feb 28 17:42:11 2014 No.157660
File: 300 KB, 600x600, 1393627320683.png [View same] [iqdb] [saucenao] [google]

>>157575
>I'm talking substantial updates, massive changes to increase security, usability, and convenience.

A statement based on your own ignorance. You didn't even know bitcoin was possible to update or that it had already been updated at the core level multiple times. Then you go on to say, after being corrected, that no "substantial update" has ever taken place. You are one stupid son of a bitch if you think anybody is going to fall for that line of logic.

>I have no idea that it is possible to update bitcoin, and I have no idea that it has been updated yet, but I do know for a fact that whatever update did occur it was nothing big.

Get a load of this mountain of typical bitcoin skeptics bullshit.

Anonymous Fri Feb 28 17:44:41 2014 No.157667

>>157609
>No it is not. I cannot argue with you if you don't understand financial terminology.
"A micropayment is a financial transaction involving a very small sum of money and usually one that occurs online. PayPal defines a micropayment as a transaction of less than 12 USD[1] while Visa prefers transactions under 20 Australian dollars,[2] and while micropayments were originally envisioned to involve much smaller sums of money, practical systems to allow transactions of less than 1 USD have seen little success"

From Wikipedia. Micropayment is a relative term. Most people agree that a dollar is a Micropayment.

>inb4 WIKIPEDIA WHAAAAAA

>They don't, they use BTC as money in that case. Kenya's consumer economy is has 40% of purchases made using cell phone minutes. Tell me how they need the local currency? Most people in Africa don't use their local currency due to inflation.

Clearly their local currency has problems where people needed to find a solution to it. Just because something works in Kenya doesn't mean it works here.

>3.5% sounds reasonable to somebody who has never used bitcoin. We know this already.
I've also used cash, which has a zero precent fee.

Bitcoin's exchange rate during this conversation has fluxuated by a few dollars. It has dropped a little over two dollars in the last few hours. There is no guarantee it will go up, while a simultaneous risk of it dropping. I would constitute this risk as a "fee"

>Average range of profit margin for retail stores and online stores is 2-5%, meaning if they use bitcoin via Bitpay then they can double their profits. They never have to take any risk on exchange rates, Bitpay does that for them.
Average profit margin is not 2-5%. It is very rarely this low. If you are running an online business with a 2-5% margin you need to see a professional.

Additionally Bitpay charges 1% transaction fee or 30, 300 or 3000 dollars. If you don't convert the BTC into money immediately you could face a downward fluctuation

Anonymous Fri Feb 28 17:49:40 2014 No.157692

>>157667
>>157609
>profit margins

This is because the study's that most people cite have a large range of everything from gas stations, lawn services to high end luxury items. It varies widely even within stores within the same category, due to rent and wage differences. Online retailing can get a mark-up of at least 30% though, I actually charge 300% due to externalities.

>>	Anonymous Fri Feb 28 17:54:11 2014 No.157711 >>154725 When miners prioritize transactions based on fees instead of if the txin already was used, this will no longer be the case.

Anonymous Fri Feb 28 17:54:11 2014 No.157713

>>157633
Credit Cards charge a precentage, not a flat fee. Debit Cards charge a flat fee. This is why sometimes you will see certain places not accept Debit but accept credit. They simply add the fee into the price and cost of business.

These credit card fees are as low as 1 percent, on average 2-3.

Any transaction done with cash is inherently more profitable. While there is potential that Bitcoin could increase profits, at a stable, consistent exchange rate, it's volatility makes it impossible and could benefit or hurt the business.VISA charging 2 cents on the dollar is much more preferable to accepting BTC at 558, then waiting an hour and it being at 555.50 (Which has happened during this thread)

>>157660
So Bitcoin will implement charge backs and consumer protection protocols, or fix it's volatility with an update? The inherent design and philosophy of Bitcoin prevents these things. You can't update it without changing what it is at it's very core.

You can update World of Warcraft into a cart racer but it's no longer the same game.

Anonymous Fri Feb 28 17:54:41 2014 No.157709

>>157667
>practical systems to allow transactions of less than 1 USD have seen little success
>thus far

And that is where bitcoin comes in.

>cash has zero transfer fee

No shit sherlock. How far and fast can you send it?

>If you are running an online business with a 2-5% margin you need to see a professional.

I guess you should be an Amazon consultant. They could really use a guy like you since they have 3% margins.

>Additionally Bitpay charges 1% transaction fee or 30, 300 or 3000 dollars. If you don't convert the BTC into money immediately you could face a downward fluctuation.

Bitpay never charges more than a 1% fee and there is no risk to the retailer no matter what happens to the exchange rate.

Anonymous Fri Feb 28 17:56:11 2014 No.157722

>>157713
>While there is potential that Bitcoin could increase profits, at a stable, consistent exchange rate, it's volatility makes it impossible and could benefit or hurt the business.VISA charging 2 cents on the dollar is much more preferable to accepting BTC at 558, then waiting an hour and it being at 555.50 (Which has happened during this thread)

No kidding. It's dropped ~$30 in the last 24 hours

>>	Anonymous Fri Feb 28 17:58:11 2014 No.157727 >>157709 >profit margins Again, that average figure is far from the norm, establishing a norm depends on what type of field you're talking about. Amazon or Overstock's business model is not applicable to most retail businesses.

Anonymous Fri Feb 28 18:05:11 2014 No.157755

>>157713
Yes, you can change bitcoin at it's very core. This has happened and will happen again when needed. Timed payments, consensus payments, and metadata were some of the more recently added features to help increase security and utility.

>can't change it without it remaining bitcoin

Nope.jpg

>>	Anonymous Fri Feb 28 18:15:40 2014 No.157787 http://thinkprogress.org/economy/2014/02/27/3341411/bitcoin-privilege/ check your privilege, bitcoiners.

>>	Anonymous Fri Feb 28 18:20:41 2014 No.157800 File: 20 KB, 436x432, implying this isnt bait.jpg [View same] [iqdb] [saucenao] [google] >>157787 >giving thinkprogress's spammy clickbait free ad money shiggyity diggity

>>	Anonymous Fri Feb 28 18:21:11 2014 No.157804 >>157787 >reading Thinkprogress in the first place >>157800 >not using adblock

Anonymous Fri Feb 28 18:24:11 2014 No.157826
File: 24 KB, 308x450, just say no.jpg [View same] [iqdb] [saucenao] [google]

>>157804
>implying it still isn't free viral marketing that leverages the most viral emotion, anger, to spread meaningless fluff
>implying our rage shouldn't be focused on something meaningful

>>	Anonymous Fri Feb 28 18:27:41 2014 No.157841 >>157826 I'm not even mad doe

>>	Anonymous Fri Feb 28 18:36:11 2014 No.157891 The Libertarian shills on various websites are hilarious. Full damage control mode. It's amazing how delusional these idiots are.

>>	Anonymous Fri Feb 28 18:45:10 2014 No.157923 >>140389 That's my plan. I am buying $1k this weekend and then $50 a week until, if it ever hits $700.

>>	Anonymous Fri Feb 28 18:46:11 2014 No.157931 File: 14 KB, 650x450, John Eyeroll.gif [View same] [iqdb] [saucenao] [google] Who could have imagined fake money that doesn't exist in real life would have problems?

>>	Anonymous Fri Feb 28 18:46:41 2014 No.157928 >>157923 Its trend is downwards.

>>	Anonymous Fri Feb 28 18:48:12 2014 No.157942 How much did you lose at Mt.Gox? Why were you so stupid to leave your money there instead of just transferring it to your normal wallet?

>>	Anonymous Fri Feb 28 19:03:11 2014 No.158012 >>157931 These New Agers put in real good-old-fashioned filthy gubmint fiat money into it and now it's disappeared into thin air. Poof, it's gone, like Keyser Soze. Libertarianism, not even once.

>>	Anonymous Fri Feb 28 19:29:11 2014 No.158175 File: 34 KB, 539x286, rip.jpg [View same] [iqdb] [saucenao] [google] Its tipping a little low now after the MtGoy theft confirmation. Im worried guys

Anonymous Fri Feb 28 19:36:03 2014 No.158215
File: 296 KB, 515x510, 1343166464884.png [View same] [iqdb] [saucenao] [google]

>>136278
>The USD isnt worth the paper its printed on.
>Nobody cares about your bullshit.

>>158175
>Its tipping a little low now after the MtGoy theft confirmation.
>Im worried guys

Why contain it?

Anonymous Fri Feb 28 20:24:22 2014 No.158422
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>mfw cryptocurrencies could have actually become a viable alternative to fiat money given enough time and somehow figuring out a way to make it accessible to non-/g/ people

>instead a bunch of neckbeards just use it as a get-rich-quick plan, with most of them even being on the bottom of the pyramid scheme and being robbed themselves, trapping it in an endless cycle of surges and crashes, ensuring that nobody besides people trying to make quick cash will ever use it

>>	Anonymous Fri Feb 28 20:30:21 2014 No.158465 >>158422 Never trust betas.

Anonymous Fri Feb 28 20:31:51 2014 No.158472

>>158422
>somehow figuring out a way to make it accessible to non-/g/ people

Give me one good way to make it accessible. You don't need to be sad, there was never any chance Bitcoin would become legitimate, not when you're expected to literally keep your money in a computer.

Anonymous Fri Feb 28 20:37:21 2014 No.158503

>>158472
This.

Do you have any idea how often the average computer user forgets their password? And that is the people that know how to use one worth a shit.

Most people need the security of a real bank and a real bank will never back a currency this unstable and unregulated.

>>	Anonymous Fri Feb 28 20:57:51 2014 No.158562 >>158503 The average person is a tard and deserves to lose their money to the elite 1%.

>>	Anonymous Fri Feb 28 21:04:51 2014 No.158591 >>139632 he's guarding the cold wallet

>>	Anonymous Fri Feb 28 21:23:10 2014 No.158658 >>158562 lol, I'm trying to imagine anyone in the banking industry believing this and staying in business

Anonymous Fri Feb 28 21:34:12 2014 No.158709

http://www.forbes.com/sites/andygreenberg/2014/02/26/nearly-150-breeds-of-bitcoin-stealing-malware-in-the-wild-researchers-say/

>The study shows, not surprisingly, that the creation of new Bitcoin malware tracks loosely with Bitcoin’s exchange rate with the dollar. The rate of new malware discoveries jumped as high as 30 new classes of Bitcoin-stealing programs a month at the end of last year, when Bitcoin’s price cracked a thousand dollars. “With the increase in the price of Bitcoin, we also saw an increase in the number of malware samples flooding into the wild,” says SecureWorks researcher Pat Litke. That rate of malware creation has since fallen to around 13 new species in February as the price of Bitcoin has fallen, in part due to Mt. Gox’s technical problems.

>To steal victims’ bitcoins, most of the malware that SecureWorks found simply searches out common file types such as “wallet.dat” that might store private keys that control a user’s coins. Any keys the malware finds are exfiltrated over FTP or HTTP connections to a remote server, which uses them to transfer the victim’s bitcoins to their own wallet.

>But some of the malware goes further, the researchers say. To steal the coins of users who encrypt their private keys with passwords, many of the Bitcoin stealing programs also included keyloggers designed to eavesdrop on users’ typing. Even more tricky are malware types that wait for users to copy a Bitcoin address they want to send bitcoins to into their clipboard. When the user tries to paste the address, the malware replaces it with a different string, irreversibly sending the currency to the malware operator’s wallet.

Anonymous Fri Feb 28 23:03:11 2014 No.159043
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http://money.cnn.com/2014/02/28/investing/mt-gox-bankruptcy/index.html?hpt=hp_t2
>Mt.Gox learned Monday that 1.75 million bitcoins held by the company and its customers had disappeared
1.75 million fucking coins.

>>	Anonymous Fri Feb 28 23:05:10 2014 No.159053 >>159043 >$875 million I thought it was 750k BTC?

>>	Anonymous Sat Mar 1 00:04:12 2014 No.159284 File: 89 KB, 692x530, thehouseofquark_183[1].jpg [View same] [iqdb] [saucenao] [google] silly hugh-mons and their electronic money. any businessman with lobes knows that only precious metals like gold pressed latinum are acceptable currency.

>>	Anonymous Sat Mar 1 00:28:21 2014 No.159420 >>159043 >1.75 million bitcoins Either CNN is retarded or they have a source no one else has.

Anonymous Sat Mar 1 00:36:51 2014 No.159467

>>159420
They are retarded and spreading as much fud as possible just like all meanstream media that has half the sheeple in this thread spreading their fud for free.

>>158472
>Give me one good way to make it accessible.
kryptokit.com
coinbase.com
bitpay.com

Major steps have already been completed, but keep your head in good old JP's lap.

Anonymous Sat Mar 1 01:05:21 2014 No.159568

>Invest in currency that could lead to the weakening of the U.S. dollar
>Act surprised when the largest Bitcoin exchanges are all calling bankruptcy at once

If big business and government do not want
bitcoin, then you will start viewing a loss
in infrastructure.
Have any of you motherfuckers
seen House of Cards? Some of that shit
most likely happens.

>>	Anonymous Sat Mar 1 01:06:50 2014 No.159572 >>159467 >how can I display prices in BTC in stores Protip, you can't (without digital price tags on fucking everything)

>>	Anonymous Sat Mar 1 01:16:51 2014 No.159600 >>159572 Why would the customer need to see the price in BTC in order to pay in BTC? protip, you don't In Europe they don't put digital price tags on everything in order to display the change in price between the Euro and any local currency.

Anonymous Sat Mar 1 01:22:10 2014 No.159621

>>159600
>want to promote a currency as a replacement for fiat
>advocates the biggest advantage to fiat
>continues posting all prices in local fiat
>previous posts by your ID constantly advocate that VC is good because no exchange fees
>customer sees none of these fees at the store level

Yeah this is a recipe for success right there.

Anonymous Sat Mar 1 01:38:10 2014 No.159657

>>159621
How did they introduce the Euro then? In fact, how did any society ever change the type of currency they used? Unfortunately you are still stuck in the mindset that only a perfectly smooth transition is not worth stopping bankers from stealing a little bit of money from everybody else. Did they need digital price tags to transition to Euros? Did everybody change all of their price tags on the same day that everybody in the country switched over all of their local currency to Euro?

What do you expect, perfection?

Anonymous Sat Mar 1 01:45:11 2014 No.159669

>>159657
They don't steal money from me. I pay no cash or credit transaction fees, I pay a small fee on debit if I use it excessively (I just pull cash out or use credit). I don't even have to take my credit card out of my wallet anymore to pay for gas.

Just admit you are a shill and trying to pump the price to get rich.

Anonymous Sat Mar 1 01:57:41 2014 No.159703

>>159669
>credit card companies charging outrageous fees are not passed onto the customer
>other processing fees from every bank are not passed down to the consumer

Just admit that bitcoin has great utility for many people around the world and that it is only getting better as we find and develop further uses for it.

You are making no argument at all. The costs from the banks are passed down to everybody, including you, and even the banks would be able to save money by letting the bitcoin network verify transactions, which it has proven to do so far faster and more securely than any bank.

So you have the fact that you ignore that whole reality of trickle down costs throughout an inefficient system to which there exists a far superior alternative. Then you have the problem of you essentially admitting that banks are charging possibly unnecessary fees to other people than yourself, but hey, that's not you so fuck em', right? That is the stance you just took on my statement, and then you accused me of being the one trying to spread bad info for my own personal gain. You have that great combination of delusion and greed.

Anonymous Sat Mar 1 02:10:10 2014 No.159735

>>159703
No the problem is you directly attribute efficiency of a completely automated (and, basically unstoppable) system to be superior. It's not. There are no consumer protections in place and losing your money is as easy as a .jpg being preloaded on a website. This already scares a majority of people who hear of the concept.

You can't call Bitcoin and ask them to help you recover your password you used to encrypt your private key.

If you purchase something from an online company and they never ship it you have no recourse but civil action. You would literally have to sue. With a credit card you initiate a charge back and the charge is automatically reversed on your end.

The BTC was pegged to the US Dollar (Lets say at $500 USD per BTC) and could not fluctuate, it could actually function as a goddamned currency. None of you early adopters would advocate for its use anymore as you will no longer get rich. It will become a payment method system identical to every other already existing system.

I pay for my McDonalds value meal in credit. My transaction is approved instantly. I am experiencing no fee at the level the store level.

While your point about trickle down fees is a valid point, you lose them at the cost of protection. You are exchanging a regulated system with checks, balances, and ability to help you if you need it for one that can be compromised by visiting a webpage. Once it is compromised and a thief has taken action that is it. Your money is gone.

What you don't understand is advocating for BTC's failue != advocating for all VC's to fail. I would like a VC. Most people agree Bitcoin is not it. Some new system will come by and fix the blatantly obvious problems BTC has, creating a much safer, easier, and better system.

What will happen is someone will invent a new coin (and entire protocol for it) that is either centralized, regulated, or both. The irony is the banking system will probably end up controlling it.

>>	Anonymous Sat Mar 1 02:17:14 2014 No.159753 >>159284 Karpeles is Quark

Anonymous Sat Mar 1 02:33:12 2014 No.159789

>>159735
You are operating under the assumption that there is no development going on in the bitcoin world that could possibly rival the power of a large group of investors. Everything that can be done on another crypto can be done on bitcoin. They could change the hashing algorithm by having a system reset which would only require businesses and customers to exchange their old coins for the new one at an exchange rate of 1:1, which would take about a minute possibly. One minutes work or an extra 2% loss on all credit charges and 44cents on all debit charges, I wonder which is better?

You seem to be scared by the news stories and fud about how bitcoin is volatile, unsafe, and cannot be sufficiently upgraded to work as either a commodity or a currency. I can't untangle all of this for you. You said that you do not understand how bitcoin can be more secure than a bank. You also choose to live in a system where the bank that you store your money at has direct influence over how much money is printed, you don't think such a system equates to theft. They are doing the same thing to you that they are doing to the African oil worker who gets charged 40% fees to send money home. The current payment network around the world is inefficient and bleeding the world economy dry. They are overcharging everybody in the world for using outdated technology, plain and simple as that.

An animal that is caged its entire life will not come out of the cage on its right away when you open the door. You will either see the advantages and use bitcoin more as things are improved or you will not. That is your choice.

Anonymous Sat Mar 1 02:48:43 2014 No.159822

>>159789
I'm going to give you two posts, so hold up here partner:

I'm not scared about news stories being posted. It's not safer than a bank on the whole. It is safer than a bank in the sense of... If the government wants to take your money during a war crisis, or the bank simply can not process all the withdrawl requests and thus can't give you your only money... Yeah it's less safe. On the DAY TO DAY basis of using BTC? It is inherently unsafe. Once your private key is compromised it is too late. Once your money is out of your wallet it is gone. Period. You can not change these facts.

Once you add consumer protection regulations you have to centralize the entire system. Once you centralize a system you need to charge a fee to run the whole thing, because you now have to pay customer service representatives to help people when shit has gone wrong with their money.

If you notice I have rarely attacked it's volatility and it's "buying air" elements. I'm trying not to attack the commodity nature of it where, if suddenly no one wants to buy BTC anymore (like many ALT Coins have failed and died off)

I want a VC to succeed, but it won't look like BTC. BTC will be replaced by something more ambitious, safer, and somehow even easier. This is the nature of entrepreneurial in the Western world. People are not buying into BTC because they like BTC - they like the idea(right now the idea is getting right). Once a better idea comes along? No one will want BTC anymore.

I'm going to illustrate a point of BTC's failings in my next post. I'll need you to play along with it.

Anonymous Sat Mar 1 03:01:14 2014 No.159846

So right now we need to demonstrate, to the average consumer, why BTC is a better system and will drastically improve your life. I am going to write a post including a sample of purchases I have made in the past week, condensed down into one fairly realistic day. Please extrapolate on each instance as to how the current system is flawed / inefficient, and how BTC solves these problems and immediately betters my life for using it as an alternative payment method

I am an average consumer - I work a Monday to Friday shift eight hours a day for a total work week of 40 hours. I take home a salary of $45,000 USD a year ($21.63/hr) after taxes.

It is Friday. I wake up in the morning. I check my bank account - I received my paycheque of 1730.77 deposited directly to my account.

I head out the door and head to my local coffee shop. The coffee costs $1.60. I give the girl at the counter two dollars and ask her to keep the change - a tip of 40 cents.

I go to McDonalds and purchase an Egg McMuffin for $3.00. I pay with VISA by tapping my card on the machine without taking it out of my wallet.

I stop at the gas station and use a self serve pump to fill my car. I have to insert my credit card to authorize the pump. I fill up $40 worth of gas. The credit card is charged from the details that were recorded when I inserted my card to authorize the pump.

I head to work and browse eBay. I purchase a flashlight with an MSRP of $75.00 for a buy it now price of $37.50 plus $5.90 shipping. I pay the seller using Paypal. My credit card details are saved on Paypal and 43.40 is charged to my VISA.

A co worker wants to go out for lunch. We eat at the local restaurant and my meal costs $16.50. I pay the waiter 20 dollars and tell him to keep the change.

On the way back to work I stop at a bank machine and withdraw $200.00

I stop off and buy a lottery ticket for $5.00 in cash.

CONT.

Anonymous Sat Mar 1 03:08:15 2014 No.159856

>>159846
I receive a call from my friend asking if I want to see a movie with him and two of his buddies. I say sure. He says he will buy the tickets and can pay me when I arrive. I tell him I'll transfer the money to his account right now since we have the same bank, and transferring cash between accounts in the same bank is instant and has no fees. I log into my bank and send him 12.00 with a total commitment time of about 60 seconds.

I decide to pay my VISA card. I transfer 400 dollars from my checking account to my VISA account that is linked with my bank. The payment is accepted instantly and my available credit reflects a payment of 400 dollars. Because I paid in the interest free period I was charged no interest on my balance.

I meet up at the movies with my friends and decide to buy a popcorn. I pay for my concession item by tapping my wallet onto their system to pay by credit. I was charged 9 dollars for popcorn.

I go home and check my email. I have received a payment of 525 dollars from a friend. He send me this money from his bank account which took a few days to process. I deposit the money into my bank account and will most likely have it the coming Wednesday.

I go to sleep and finish my day.

Explain how my life would be better if every transaction was handled via BTC.

Anonymous Sat Mar 1 04:07:46 2014 No.159967

>>159856
You could send any amount of money to anybody quickly using BTC even if they had a different bank or no bank account. The money would show up in your bitcoin wallet instantly and be verified repeatedly every ten minutes.

Some people feel uncomfortable taking out there wallet in public, and rightfully so. They feel much more comfortable just taking out their phone. It would be nice if we could trust Google wallet to take care of that with NFC, but their system is centralized and will be hacked just like Paypal. With bitcoin you can guarantee that your store of wealth is unhackable by keeping your savings wallet offline.

Still, you only think of your own personal solutions and nobody else. I find this behavior the most disturbing yet one this board: attacking bitcoin and bitcoiners on the basis that it doesn't profit you directly. I have shown ways that it does benefit you, and if you don't want to take advantage of it then don't. There are lots of other people in the world that will benefit from it alot, and that is reason enough to want it to succeed.

Remember when the bank used to be closed every Sunday? Man, that really sucked back in the old days. Your reply would be "OH YEAH MY BRANCH IS, AND BESIDES WHO EVER NEEDS TO GO TO THE BANK ON A SUNDAY?"

That is how selfish and shortsighted you are being. That is exactly all you are doing. You have no argument except that you cannot see how it can benefit you right now, and therefore it should either die or everybody should shut the fuck about it forever.

Great argument!

>>	Anonymous Sat Mar 1 04:09:15 2014 No.159971 >btc exchange rate rises >"you should've bought it years ago!" >bad shit happens >"enjoy your Ponzi scheme"

Anonymous Sat Mar 1 04:11:46 2014 No.159973

>>159846
Oh, by the way, you missed all of the parts in your story about how each of those Paypal and credit card or debit card charges all cost the retailer upwards of 3%, and that cost was all passed on down to you, the consumer. Even if you assume the retailer to be totally fair, and they only pass on 1.5% of the fee to you, then you pay that fee everytime you use your card. You are so dumb that you think paying the bill before the interest period means you aren't getting charged. You are so blind it is ridiculous.

You need dinosaur glasses.

Anonymous Sat Mar 1 04:22:47 2014 No.159987

>>159967
For the average consumer to take the time and effort to adopt something new it needs to benefit them. You need to explain to the average person why BTC is preferable.

The >>159846 and >>159856 are pretty typical activities of the average North American, and I assume the average European. If you can not convince the average consumer why it will change their life you have lost the battle.

And your cherry picking is exceptionally shill-y - while crypto currencies can't be hacked in the conventional ways they can be very easily compromised at the individual level. Unlike my VISA card getting skimmed, I can't call up Bitcoin and have them reverse the transaction (or simply not charge me for it).

If one is

>>159973
This is why you are retarded - if you can't see why "NO MERCHANT FEES!" won't convince the average consumer to adopt it. It's the same reason everything is 24.95 or 24.99 instead of $25.00 - visual information easily fucks with people. It's a losing battle to convince the masses to adopt a currency that has OBVIOUS FLAWS TO CONSUMER SAFETY because a fee that they may not even know has existed won't be levied, and prices may then drop 1-2%... They don't care.

So, please take the average consumers life and tell me how this person was bettered by Bitcoin - each and every one of these transactions I see friends, family, and co-workers involved in, from age groups below 18 all the way up to my father who is in retirement age.

Explain how the life of >>159846 and >>159856 is bettered by Bitcoin.

Anonymous Sat Mar 1 04:37:45 2014 No.160004

>>159987
>Explain how the life of >>159846 and >>159856 is bettered by Bitcoin.

There have been many examples already given in this thread for ways that it can improve your life, but unfortunately you are looking at it in the absolute most narrow perspective that portrays you as a mindless consumer. All that you talk about is going to work, taking money out of the bank, and paying for various common consumables with either cash or credit card. There is a lot more to life for most people than that.

That outlook doesn't take any account of the 6 billion people in the world that either don't have access to a trustworthy banking system or a trustworthy currency, and it also doesn't take into account any possibility of you and them ever having a way to interact. I mean, it isn't like the rate of internet usage in third world countries is exploding right now or anything.

Unless there are numerous advantages to you, then you don't see any reason why it should be a major part of the financial world, even if it would have great daily benefit to other people. You are the epitome of greed.

Anonymous Sat Mar 1 04:51:17 2014 No.160014

>>160004
>There have been many examples already given in this thread for ways that it can improve your life
Doesn't matter what else has been spewed in this thread, because it was all debunked as well. I'm asking you to explain how the average day of the average Westerner can be bettered by Bitcoin.

>There is a lot more to life for most people than that.
Actually, no, there isn't. The facts are people buy things. You buy things every day. To advocate for BTC's use as a currency and/or currency replacement you have to have it serve those basic purposes - else it becomes an alternative payment method for niche purposes.

>That outlook doesn't take any account of the 6 billion people in the world that either don't have access to a trustworthy banking system or a trustworthy currency
[Citation Needed]

>Unless there are numerous advantages to you, then you don't see any reason why it should be a major part of the financial world, even if it would have great daily benefit to other people.
I have said numerous times I would be okay with virtual currency. There are currently no benefits to me, but increased risk in my day to day life. My entire life savings can be wiped out by a trojan with no recourse. Why would I adopt that as my currency?

All you have advocated it for is that people in shit third world countries can use it to change their lives. Cool. Let them use it. Let them have their lives changed. Doesn't mean I need to use it. Just because minutes in Kenya are a form of alternative currency doesn't mean I can pay for my groceries with an AT&T Prepaid Card.

>You are the epitome of greed.
You are the epitome of shilling.

I gave you the opportunity to prove me wrong - you still can. Explain how roughly five hundred million to a billion peoples lives on a day to day basis can be positively affected by BTC.

Explain how the life of >>159846 and >>159856 is bettered by Bitcoin.

Anonymous Sat Mar 1 05:07:46 2014 No.160028

>>160014
>The only reason for me to adopt it is if it can significantly improve the current method of paying for common items in first world countries.

Sorry, you are not proving anything new here. I said in a previous post that for most people who live in countries with stable economies and banks, you should not use bitcoin for most normal purchases. USD is superior in use at this time for almost everything you buy on a regular basic. If you want to prove me wrong on something then you will have to actually oppose one of my points. It also helps if you actually, you know, read the thread a little before sounding off with a set of Bloomberg headlines.

There are other reasons to use bitcoin, like sending money to a friend, which I also described earlier in this thread that you apparently did not read. Maybe in the future you will need to send money to a friend and perhaps do it quickly and cheaply, maybe even in a remote location. Perhaps then you will take a look at it. Who knows, you might actually do something out of the ordinary for once in your life, and bitcoin might be able to help.

>>	Anonymous Sat Mar 1 05:19:47 2014 No.160041 >>160028 No offense, but those are pretty stupid reasons to keep Bitcoin.

Anonymous Sat Mar 1 05:25:45 2014 No.160050

>>160028
You understand Paypal fees of sending money to a friend are 0%, right?

I'm glad you are changing your tune. It's really the only 4chan way of admitting defeat (aside from abandoning the thread)... But to try and claim that I did not oppose one of your points is kind of silly. You advocated it is good for Merchants, which is debatable... But hand in hand it is not good for consumers, so regardless of how good the idea is if merchants never can adopt it, it clearly isn't good for them.

The crux of the issue is that the last situations you outline, such as the African Oil Worker sending money back home, or just to a friend. In any sense of practicality this turns Bitcoin into a service, not a currency. If you are sending money to immediately convert back into cash it's not a currency.

The blatantly obvious flaw in every argument though... Is you advocate that it is a good for those who don't have a bank or way to receive money via Western Union... Well how do those people then turn BTC into their local currency? Any of the methods you have said as to why they can't receive a wire creates a pretty big obstacle for turning BTC into money.

The only argument there is "Well you'd keep it as BTC to use as currency!", but we are back to the exact same problem of it not being a currency because currency is inherently more effective.

If it's adopted in Kenya or Uganda, sure. Cool. They can use it as a currency. I know some places in the world use a barter system as well, even here in America.

Bitcoin will never succeed here. Merchants will never adopt it. People will not use it for day to day purchases, transactions, or microtransactions to friends and family. The risk, to merchants with it's volatility and integration complexity, and consumers with it's lack of protection. If it does succeed it will be for very niche purposes where you will convert money to BTC and use it immediately. No one will hold Bitcoin, except the shills.

Like you.

Anonymous Sat Mar 1 05:48:46 2014 No.160082

>>160050
>currency is inherently more effective.

Tell that to people in Argentina, Zimbabwe, Kenya, or any of the dozens of countries who have currency with more volatility than bitcoin combined with hyperinflation. They could use bitcoin like they use their phone minutes as money, except that they are now not limited to interacting with only people in their own country that have that phone service. It is a barter system, bitcoin is commodity and a currency, and not completely bounded by those words in any single aspect.

>Merchants will never adopt it.

I just don't know where you are getting your information. The only people who are saying that they will never use bitcoin are people who don't own a business and can't understand how it could benefit themselves significantly and often.

>integration complexity

Downloading a free app onto a tablet or smartphone and setting it up in less than five minutes, then paying the taxes on the purchases just like any consumer tax, and pay capital gains tax on money earned when trading it as a commodity. It's so complex to integrate that it takes two sentences to completely describe how to do it. Seems like a really huge hurdle for businesses. Nobody can figure that shit out!

You are just getting more and more fuddy as this goes on.

Anonymous Sat Mar 1 05:56:46 2014 No.160102

>>160041
I was sending money to my friend to buy some computer parts for mining, of course. Bitcoin took about 15 seconds of my time from opening my wallet to completion of a $2200 transfer, it showed up in his wallet instantly, cost me $0.20, and contained a 256-bit encrypted note as a record of the transfer, and he bought the parts with the BTC directly less than an hour later. We do not have the same bank. Please, explain to me why we should have lost money by sending it through a slower service that cost more and made us miss 2 or 3 days of mining? Seems like it was a good use of it to me, regardless of whether you think mining is a waste of time or not.

Anonymous Sat Mar 1 06:16:15 2014 No.160140

>>160082
>Tell that to people in places I don't live.
Doesn't apply to one billion peoples lives in the developed world. The other people who live in shitty countries can use it, doesn't mean we need to.

This is not a reason for the Western world to adopt it. The only reason for the Western world to adopt any Altcoin is to go to the moon, so the Ponzi scheme can get people rich.

>Merchants and Integration
It doesn't help significantly and often, at best it helps marginally and occasionally. It really doesn't help anyone.

Once again even if prices trickle back to us and everything dropped 2% because BTC was universally adopted... Oh wait I lost my phone. My money is gone. My sister downloaded one of those funny videos she got in an email. My money is gone. Oh I accidentally sent 10 BTC instead of .10BTC... My money is gone. Oh I forgot my password... My money is gone.

For merchants to adopt it customers have to want to use it. Customers don't want to use it because there is no consumer protection of any kind.

And if you think it's easy to set up an iPad next to the register you have no idea what you are talking about. At the very least BTC would require a massive overhaul or a completely new Point of Sale. This does not take into account a recurring internet connection for the store / tablet, BitPay membership fees, or the cost of hardware itself. The POS alone is thousands of dollars.

Your reasons are entirely and completely shit. You are an obvious shill.

I really hope you bought in at $1150.

Anonymous Sat Mar 1 06:20:46 2014 No.160142

>>160102
Paypal.
Open Application on Phone
Type in Email.
Send
No fees because money sent is to friend / family
Any merchant accepting BTC is taking Paypal.
Buy parts directly.

You have saved $0.20.

DIRECTORS CUT
Computer parts are completely defective
Store does not abide by it's own return / warranty policy and tells you to fuck off
Open claim with Paypal within 45 days
Get your money back when claim is won in your favor.
Purchase new parts from any other retailer accepting Paypal.

Anonymous Sat Mar 1 06:30:16 2014 No.160158

>>160140
>The POS alone is thousands of dollars.

At most it would cost the business a few hundred for some cheap android tablets. You base your figure on nothing and show a clear lack of knowledge about bitcoin. You actually somehow managed to make it sound like it was more costly and more difficult than setting up a credit card reader next to a register. How many businesses don't have internet in first world countries? I am guessing almost all of them, and they wouldn't even need internet at their business or buy tablets, they could do it all from their own personal phone if they wanted, or from any cell phone.

You just keep going on about with bad information, suggesting they would have to buy an expensive iPad when bitcoin apps are blocked by Apple. It is so unfortunate that your previously learned knowledge about finance is completely blocking you from understanding the new system.

You are an obvious dinosaur.

>>	Anonymous Sat Mar 1 06:38:17 2014 No.160170 >>160158 I've said this before but literally keeping your money in a computer is an idiotic idea.

Anonymous Sat Mar 1 06:44:46 2014 No.160175

>>160158
>I am guessing
Key word is guessing.

The reality is many business's can't afford the expense of a "normal" internet connection. A number of credit and debit terminals run off a dial up connection. Some mobile terminals, like the ones used in Taxi cabs, have a SIM card built into them and have a very special connection with some of the cellular providers.

The POS system that a company has would have to, at the very least, be updated to accept payment by Bitcoin. At the base level this then requires employee's to be trained on it, buy hardware, and have a way to get that information attached to the receipt - either by POS integration (more costly) or purchasing a printer for the tablet (more hardware) - or just taking the time and typing it in manually (negative customer experience)

Many POS Systems base line programming would allow for a persistent, constantly updating information and parsing for transactions. Some of them aren't just set up to do that. Those that can would still require an update that costs in the thousands, and if you needed a complete overhaul and you start getting into five figure territory.

Look at what happened up in Canada. They eliminated the penny and business's big and small revolted. They had to modify their POS systems to round up or down to a fraction of five. There were tons of articles about how this would hurt small business owners. A number of them did not update it and have to manually adjust their books every night to account for the discrepancies.

You literally know nothing about retail.

>they could do it all from their own personal phone if they wanted, or from any cell phone.
Good luck paying for all your employee's cell phone bills, because that is what you would have to legally do in your scenario. Great way to save costs there mate!

>the use of the word "iPad"
Actually you would be able to use an iPad - I would want my company to invest in a webapp solution instead of a platform specific app.

Anonymous Sat Mar 1 06:44:46 2014 No.160177

>>160142
You are still saying that merchants will not want to use it even though it can save them significantly on fees. With services like Bitpay they take no risk on volatility and save money on fees. Your logic does not compute and you just keep trying to present your own personal opinion at the present time as why bitcoin will never be adopted in the first world at any point in the future.

I have laid it out over and over in this thread but you just never seem to get it. Since I have finally gotten all of you past the hurdle of understanding third world adoption, which was herculean effort by the way, now I will describe to you with sound logic how adoption has been occuring in the first world.

P1. Some people buy things using bitcoins, this is an indisputable fact.
P2. Merchants will save significant money on every bitcoin purchase that is not cash.
P3. Merchants want to save money on fees.
C1. Therefore, merchants will adopt bitcoin even if a miniscule amount of sales come from it.

This has been happening and continues to happen even with all the horribly misleading headlines and uninformed posts from sour grapes.

>>	Anonymous Sat Mar 1 06:45:16 2014 No.160180 >>160175 >Many POS Systems base line programming would allow for a persistent, would NOT allow. Missed a word.

Anonymous Sat Mar 1 06:46:15 2014 No.160181

>>160170
You don't have to keep it in a computer. I have said this before. If I were to mention paper wallets or brain wallets, or even professional storage services that do offer insurance, you will just revert back to the other set of myth based skepticism being spread around right now.

Anonymous Sat Mar 1 07:04:17 2014 No.160226

>>160177
We math now.

Spreadsheet
Monthly Sales: 30,000
Profit Margin: 21.137%
Profit: 6341.1
Assuming 10,000 paid by Debit, averaging 15 transactions a day for 30 days, with an average debit fee of 35 cents per transaction = 1.575% transaction fees
Equals 157.5 Dollars.
Assuming 10,000 Paid by Credit at a rate of 2.1% for Visa / MC
Equals $210.00
Cash has no fee cause based cash
Left over of 5973.60 for payroll and other expenses.

Introduce Bitcoin
Half of all transactions now conducted with Bitcoin
New Credit Fee is 105.00 and Debit is 78.75 since only half of transactions are done.
Add $30.00 for BitPay monthly fee
Add $50.00 for monthly internet connection
Amortized cost of 60 dollar wireless router over 24 months is $2.50
Amortized cost of 300 dollar tablet over 24 months is $12.50
Amortized cost of $2000 custom POS firmware to accept BTC as payment but parse transaction logs amortized over 24 months - $83.33

Compare costs:
Previous Transaction Fees:
$367.50 per month
New fees for 24 months.
$362.08 per month

Oh Anon, I agree. That is some significant savings right there. I wonder what foot long all those small business owners will buy from Subway Sandwich.

Anonymous Sat Mar 1 07:05:17 2014 No.160229

>>160175
A transaction on the bitcoin blockchain is 350bytes of data. Do you think you will need more than a 56k connection to run that amount of data? If they had such a tiny business without even a phone line then they could get a second phone from their carrier and use that for bitcoin purchases. If the phone breaks so what, not many purchases per day will come from bitcoins at this stage. When they get more purchases from it and save more on fees, then they buy a couple tablets.

Considering this huge financial burden you are bringing up of merchants setting up payments, then I wonder how the 3284 brick and mortar stores around the world that accept bitcoin right now are able to cough up the $10k or more that you say it must cost them to integrate bitcoin. Considering most of them are small local businesses like bars, coffee shops, and acupuncture spas, how could they afford such an outrageously costly system to integrate?

The fact is it doesn't even cost any money to integrate it at most businesses, and at the ones where it does cost any money it is perhaps a tablet with a 3g internet connection, or just hooked up to the wifi that they may already have or share with the other shops in the mall. I cannot even imagine a scenario where integrating bitcoin would cost anything more than that, and you are just coming out of nowhere making up crazy figures without the slightest clue how things like Bitpay works.

Once again you are applying all of your old knowledge about obsolete technology to something that you have done little or no research on at all. Every one of your posts reads exactly like a Bloomberg article and nobody here is stupid enough to trust an old dinosaur that doesn't want to learn.

Fact: Bitcoin is the cheapest electronic payment system for businesses to use, ever, by a wide margin.

Your Lie: Bitcoin could commonly cost businesses as much as five figures in initial investment to take payments.

You are the worst of the worst. Gordon Gecko

>>	Anonymous Sat Mar 1 07:09:46 2014 No.160239 >>160229 >Every one of your posts reads exactly like a Bloomberg article I actually take this as a compliment.

Anonymous Sat Mar 1 07:17:19 2014 No.160260

>>160226
First of all that is a huge profit margin. Bravo if you can pull that off. Putting that aside, you are making some rather poor assumptions once again.

The cost of the tablet could be $150 and it would still run everything reliably. There would be no need to buy a router or pay internet fees for most businesses. Most of them have internet connections already. Lastly, you keep throwing around this huge sum of money that would have to be paid by the business to integrate all information from the bitcoin purchases seemlessly into their existing POS. This is not the case at all. It can exist as a completely separate POS sitting right under the cash register.

You are just pulling numbers out of thin air and doing no research on how bitcoin payments work in real life, and you refuse to try and learn more about it but yet you just want to keep thowing around this fud.

Anonymous Sat Mar 1 07:22:47 2014 No.160274

>>160239
You spread the exact same lies as them. They said that the tx malleability bug in the Gox wallet software would kill all of bitcoin. That was the headline on their home page. If you want to be on their side, then you should stop betting on things.

>>	Anonymous Sat Mar 1 07:25:18 2014 No.160288 So what's going on?

Anonymous Sat Mar 1 07:26:17 2014 No.160291

>>160260
Do you not understand how business's work?

>This is not the case at all. It can exist as a completely separate POS sitting right under the cash register.
Oh I see... You don't. If you can't see how having two separate POS systems coexisting independently from one another can be disastrous I can really only explain your retardation as shilling.

POS systems cost a lot of money. A lot. I have never seen a professionally done POS system that did not have an initial investment of 4 figures unless it was done by some kid in his basement trying to make a couple extra bucks. Many business's looking for a professional, reliable system avoid these options

If you don't see the irony in refuting all my arguments because "IS TEH FUTUR MAN U JUS DUN UNDERSTAND IT" while you have absolutely no idea how business and electronic payments are run in the present... I really don't know how else to help you.

>implying you can help a shill

>>	Anonymous Sat Mar 1 07:27:17 2014 No.160293 >>160274 It's not just the malleability bug. It's the whole host of issues that come with Bitcoin being a purely digital currency. You're never going to win.

>>	Anonymous Sat Mar 1 07:29:16 2014 No.160297 >>160260 Oh and I forgot... If your business is not pulling in atleast 20% you are doing something wrong. Some industries this is an exception, but you really need to strive for 30%

Anonymous Sat Mar 1 07:40:17 2014 No.160317

>>160291
You are still just assuming all of this is true based on the way previous POS systems work. Go and ask the businesses that actually use bitcoin what they think of it instead of just sitting there and spewing a bunch of old information that doesn't apply to this situation. They seem to really like it so far. Too bad Bloomberg isn't reporting on that at all.
The setup could be done very cheap. Get a 7" $99 tablet with LTE from Verizon and pay $30 a month for 4GB of data, which is enough to download the app and send the 350B payment transactions.

>>	SOMA™ !!1pMpfJu9Pyw Sat Mar 1 07:56:46 2014 No.160351 It status for MtGox as of 01/03/14: Over

Anonymous Sat Mar 1 07:58:48 2014 No.160355

>>160317
>You are still just assuming all of this is true based on the way previous POS systems work.
previous on shillfactor
This is not the case at all. It can exist as a completely separate POS sitting right under the cash register.

>literally arguing that you will need a new POS system but you don't need a new POS system because you will just not integrate it and keep it seperate.

>spewing a bunch of old information that doesn't apply to this situation.
I'm sorry I didn't know POS systems magically updated themselves to integrate BTC as an acceptable payment option instead of hitting one of the buttons that will fuck up the books and add more work later on.

>and ask the businesses that actually use bitcoin what they think of it
It's free publicity. They like it because by helping you shill the coin, they shill it right back. For the time being it's free advertising.

Anonymous Sat Mar 1 08:17:41 2014 No.160379

>>160260
That isn't a huge profit margin.

For the third time, studies that say that 2-3.5% of the average profit margin get that by combining low profit fields like gas stations with high profit ones like jewelry stores. If most stores survived on only a few percent margins they would all go broke come January when retail sales slump.

>>	Anonymous Sat Mar 1 08:25:26 2014 No.160387 >>160379 Actually even more obvious: A restaurant operating on a 5% net profit would fail if a couple days a week they were slow. A slow week or two would put them under immediately.

Anonymous Sat Mar 1 08:41:27 2014 No.160416
File: 1.14 MB, 260x146, 1376764075187.gif [View same] [iqdb] [saucenao] [google]

>>160142

>Computer parts are completely defective
>Store does not abide by it's own return / warranty policy and tells you to fuck off

This is a very important subject that can't be ignored.

As it's pretty clear from my previous posts, one of my biggest gripes lies within consumer protection. At the moment Bitcoin offers none.
For this to become a viable currency it needs a strong as fuck consumer protection system in place. It needs to be in place before wide scale adoption.

People are going to fuck up, They are going to encounter situations like that one above.
They are going to send money to the wrong addresses. There's absolutely no way to reverse that transaction as far as I'm aware.
Then there's the fact that if you forget your password you're screwed.
Also your money can be stolen by some malware.
If and when any of these scenarios happen, you're on your own.
There's no one to help you with your lost money. It's gone forever.

Not to mention the clusterfuck that's the current legal system regarding Bitcoin.
There's no common unified idea what these should be considered as.
Meaning that the legal side here is shaky at best.
And as long as the situation is like this, I don't even want Bitcoin to see any mainstream adoption, because people WILL be getting fucked over left and right, and all the loopholes are going to get exploited to hell and back.

The whole concept needs way more groundwork and thought before it's even close to being a working system. To try push half ready system straight to the markets just so you could make tons of money is stupid.

Oh well, it isn't stupid if your only goal is to make money, but people here seem to be shilling Bitcoin as the best thing ever and ready for adoption.
There are tons of real problems here that require thought and work before BTC should be adopted by the masses.

Anonymous Sat Mar 1 08:44:26 2014 No.160421

>>160416
>As it's pretty clear from my previous posts, one of my biggest gripes lies within consumer protection. At the moment Bitcoin offers none.

This is actually one of the main pitches Coinbase offers to merchants: "No chargebacks!" Never mind that a chargeback is the only thing short of an actual lawsuit that stops the merchant from simply never processing your order.

If you see a merchant that accepts Bitcoin, ask yourself why.

Anonymous Sat Mar 1 09:18:27 2014 No.160503

>>160421
>>160416

One of the many legal grey areas is that a payment processor has been liable for chargebacks that it cannot recover for a merchant - it is uncertain whether this is legally true for bitcoin as well. Where the liability is hasn't been adequately answered - and to just say they were stupid and deserved it is childish and isn't an answer for legal questions.

We're also starting to see identity theft-type issues, with wallets being stolen directly from individuals. But unlike with say the Target breach recently, there is no recourse.

Another problem is that old wallets can be compromised with old passwords, which will still lose the money from the new version of that wallet.

There's a list of running issues on the wiki:
https://en.bitcoin.it/wiki/Weaknesses

Completely disagree about coin destruction not being a problem on the wiki btw. The deflationary effects of removing several percent of the money supply cannot be ignored, this can only be ignored because now people are trying to treat it like a commodity payment system instead of an actual currency.

I think they have underestimated how much legal, logistical and economical work has to be done while overestimated the average technical prowess of users.

>>	Anonymous Sat Mar 1 09:24:57 2014 No.160516 >>160503 *from a merchant

>>	Anonymous Sat Mar 1 09:34:57 2014 No.160534 tfw i lost my 1 btc :(

Anonymous Sat Mar 1 09:41:57 2014 No.160549

>>160421

lolwut? That's like saying "Hey you! Do you want to fuck over your customer? Here's an easy tool for the job."

>>160503

>Underestimated how much legal, logistical and economical work has to be done while overestimated the average technical prowess of users.

Exactly.

Don't know if they have even underestimated the legal and economical work, rather than just flat out ignored it, or haven't given the subject any critical thought.

In a way it's understandable.
Hey who doesn't like to make tons of money from nothing? Especially when there's a chance to make tons of money with very small effort and investment.

And what you said about average users.
Anyone who has worked in customer service or any field where you have to deal with tons of people, knows what an absolute barely functioning retard average person actually is.
Now think this person using Bitcoin. It's a disaster waiting to happen.

To put it simply. The system needs to be literally idiot proof and simple as hell, combined with clear legal system and strong consumer protection.
At the moment none of those apply.

I think the idea of Crypto will endure, It's an interesting concept, but Bitcoin itself will probably fail.

>>	Anonymous Sat Mar 1 09:45:26 2014 No.160559 That's what happened to Karpeles.

Anonymous Sat Mar 1 09:45:26 2014 No.160560

>>160549
>lolwut? That's like saying "Hey you! Do you want to fuck over your customer? Here's an easy tool for the job."

In a way it is. If anything it is saying "consequences will never be the same", because there are none.

Although it does protect a merchant from chargeback fraud, which is the majority of chargebacks ironically.

>>	Anonymous Sat Mar 1 10:50:14 2014 No.160676 File: 236 KB, 1921x1078, Untitled.jpg [View same] [iqdb] [saucenao] [google] >>139632 I had to. http://www.youtube.com/watch?v=-Q6OuHqv-ms

Anonymous Sat Mar 1 13:35:19 2014 No.161060

>>160416
>people here seem to be shilling Bitcoin as the best thing ever and ready for adoption

There are some stupid trolls shouting "TO DA MOON". I have never been one of them. There is nothing shilling about saying that it is very cheap and easy for a business to accept bitcoins. It would be free to sign up and take a few minutes to start using it. If they need an internet connection and a tablet that would cost $99 plus $30 a month for hardware that would be complete overkill for the task. Training employees would take less than five minutes.

Unfortunately we seem to attract a lot of Bloombergian merchant bankers who think they can use their old knowledge of how things have worked for the last fifty years in payments processing and apply it directly to bitcoin with no modification. There is some moron in here that clearly suggested in no stealth manner that integrating a bitcoin payment system could actually cost a business more than integrating VISA. These are the majority of shills in this thread, suggesting complete lies as the truth. I am fine with that since most of the people seeing such an epic thread on bitcoin will inevitably take that as a sign of how significant it is in the world of finance. Once they actually search around for themselves and read a bit about the subject, unlike nocoiners, then they will have a snapping back reaction. It will just affect them that much more when they do realize the truth about how great this technology will become soon.

So there you have it. No matter if you think I am a shill spreading lies or not, this entire thread is a monument to the growing significance of bitcoin, without which this entire board that you love so much would have likely not come in to being any time soon. You can thank bitcoin for /biz/, and bitcoin can thank /biz/ for making it one of the longest single threads in 4chan history.

How sour are those grapes tasting right about now?

>>	Anonymous Sat Mar 1 13:38:18 2014 No.161074 >>161060 >one of the longest single threads in 4chan history

>>	Anonymous Sat Mar 1 13:42:48 2014 No.161096 File: 172 KB, 1278x720, 1392832424679.jpg [View same] [iqdb] [saucenao] [google] >>161074 sasuga coinshills

>>	Anonymous Sat Mar 1 13:44:48 2014 No.161101 >>161074 I don't know if you noticed or not, but threads of this size are extremely rare. I guess you are going to try and call me a lying shill for that too, just like every other thing I said that was the truth.

>>	Anonymous Sat Mar 1 13:47:47 2014 No.161117 >>161101 I don't blame him given your hilariously over the top self righteousness.

>>	Anonymous Sat Mar 1 13:54:18 2014 No.161151 >>161117 I'd rather have somebody be totally self-righteous and tell me the truth about how a financial tool works than have them be nice and lie to me. To each their own.

>>	Anonymous Sat Mar 1 13:59:18 2014 No.161170 >>161101 It's nowhere near the longest ever. Have you never seen a sticky on /b/, /v/, /sp/ or any other popular board?

Anonymous Sat Mar 1 14:08:17 2014 No.161210

>>161060

Sour grapes?
I made 10k in a year by throwing 400$ to this, and I'm still day trading these crazy fluctuations.
These grapes taste pretty good.
Stop jumping to conclusions and apply some cream to that butthurt.

Instead of looking at the size of this thread, and determining the future of Bitcoin, you should be looking at the big picture here.
What does general public think about this?
Check the comments on every news site that has lately mentioned Bitcoin.
They are negative as fuck and most of them are ridiculing people who bought into this "Nonexistent imaginary money" and "Lol you deserve to lose your money Idiots!"
Those are the guys you need to convince to buy Bitcoins. They need to get in for this to succeed.

Also instead of addressing any of those very crucial points in my post, you know that consumer protection thing there, which is the biggest hurdle to overcome if this thing is to go mainstream, you seemed to latch on the fact that I used word shill here.

Did I call every person that spoke for Bitcoin a shill? No. But most people here are unwilling to address any of the legit points brought up.

>how great this technology will become soon.
>This technology

Bitcoin doesn't represent the whole concept of crypto, and there's no reason why Bitcoin or any of the copycats should be the ones to make it.

>>	Anonymous Sat Mar 1 14:09:20 2014 No.161212 >>161170 I didn't say this was the longest thread ever, but it does approach their magnitude of size.

>>	Anonymous Sat Mar 1 14:11:49 2014 No.161220 >>161212 No it doesn't. The longest thread I can remember had over 13000 replies. There's probably even longer ones.

>>	Anonymous Sat Mar 1 14:16:48 2014 No.161232 >>161210 Yeah there is irony when early adopters like us get called "grampas" who can't understand how payments have magically been changed.

Anonymous Sat Mar 1 14:37:48 2014 No.161293

>>161210
>consumer protection

These things take time, we have been working on them, and we continue to make progress in getting the government of the USA to accept bitcoin as a protected part of the economy where criminals are held liable. We have gone over where we are in that process previously in this thread, and, once again, I have to apologize for bitcoin not being completely finished before I ever started talking about how it is very likely to reach a full consumer friendly and protected release in the very near future.

Anonymous Sat Mar 1 14:42:19 2014 No.161314

>>161293

Can only have consumer protection if fees are introduced.

Suddenly it's the exact same fucking system, but with bitcoin at the center of it.

Whoop-de-fucking-do.

This is all just a ploy to get Bitcoins value up. No one in the bitcoin community gives a fuck about ideology, they just want to be on the ground floor of the next system that crops up.

It's no surprise that when the price of bitcoin is tanking the discussion on forums changes from price discussion to ideology discussion.

Bittards are fickle as fuck con men, essentially.

Am I bitter that I didn't buy any at $5 when I found out about bitcoin? Damn right. But not because I think it's actually useful or better than all the alternatives that exist. It's because I could have tricked a bunch of idiots out of thousands of dollars and got rich while not actually contributing anything, nor doing any work.

Anonymous Sat Mar 1 15:05:48 2014 No.161390

>>161293

As if it was that easy.

>" oh yeah, we'll have a fully functional consumer protection system in place in no time.

I'm not buying that
There are way too many problems here just to roll out a completely working big system like that.
The only way it could effectively happen so quickly is to let banks or some megacorporations in on this.
Which would mean the losing the ideology behind Bitcoin.

>>161314

>This is all just a ploy to get Bitcoins value up. No one in the bitcoin community gives a fuck about ideology, they just want to be on the ground floor of the next system that crops up.

Spot fucking on.

When the price tanks and difficulties emerge, people give fuck all about the ideology of Bitcoin itself.

The original concept is to detach people from the evil banks, no regulation, fee market, but now we have seen the same people who praised the concept, running to the said banks and governments for regulation to save their investment.

Considering all the problems Bitcoin is facing, it's only logical to run to the big boys for protection, but isn't the very idea of crypto then useless?

As you just said, it's just a get rich scheme, and I wouldn't mind it if people would just fucking admit it.
It used to be
>"We want mainstream adoption! For the people!"
Now it's more like:
>"We want Wall St. to start pumping money into Bitcoin so our investment is saved and the price soars!"
No one is fucking admitting it.

Anonymous Sat Mar 1 15:12:18 2014 No.161413

>>161390
>The original concept is to detach people from the evil banks, no regulation, fee market, but now we have seen the same people who praised the concept, running to the said banks and governments for regulation to save their investment.
Just like in 2008.

>>	Anonymous Sat Mar 1 15:13:47 2014 No.161419 The financial sector is second most regulated industry after nuclear.

>>	Anonymous Sat Mar 1 16:01:46 2014 No.161639 File: 11 KB, 214x250, 134070135751.jpg [View same] [iqdb] [saucenao] [google] gee i wonder whos behind this

>>	Anonymous Sat Mar 1 17:15:54 2014 No.161978 >>132353 So the US govement has been hands off waiting for something for this to happen? Wouldn't surprise me if they had below the radar operations stealing bitcoins en masse. Best way to fund untraceable ops is with untraceable monies.

Anonymous Sat Mar 1 17:36:23 2014 No.162093

>>161390
>I'm not buying that
>There are way too many problems here just to roll out a completely working big system like that.

Maybe we should just give up talking about the progress bitcoin has made toward government acceptance until the day that everything is completely ready for you to take advantage of it. We will all just shut up until we somehow have magically figured out the moment that you will be able to directly benefit from bitcoin don't have to even think about how it works or how it got to that point at all. Yeah, we will all just live in that fantasy for world just for you.

And then there is the world record that you are currently holding for being the man who thinks he knows more about the bitcoin ideology than he actually does.

When we talk about getting rid of banks, we are not keeping anybody or any entity from using bitcoin. Any large bank can participate just the same as a farmer in Africa. It connects everybody on an equal playing field. This is not about destroying the banks, it is about taking away their power and distributing it among industries that will produce more valuable services. If the banks decide they will work harder to add more value into the economy than they currently are, likely by saving money in their payment processing network by using the bitcoin network instead, then they will survive, same goes for Western Union.

You are just taking the most kneejerk reaction you can find from the obvious trolls on here and choose those as the voices that represent the community.

>>	Anonymous Sat Mar 1 17:56:41 2014 No.162190 >>161074 newfag

Anonymous Sat Mar 1 17:58:12 2014 No.162198

>>161390
You see, that is the most basic part of the ideology that you missed. Bitcoin is an open and free protocol than anybody can use as they please. If they want to break the law and go to jail, or if they want to buy things from China or invest in a farm in Africa, if they want to send money to their friend across the country, or if they are a major bank or corporation that wants to reduce costs in processing money or ownership transactions, they can all freely use bitcoin. How you missed this most basic tenet of "open source" is beyond retardation.

Anonymous Sat Mar 1 18:25:12 2014 No.162339
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>>162198

You know what's beyond retardation?
You wanting the general public to use system that just cost that same general public hundreds of millions in Gox collapse.

Those people are never going to see their money again, and if this system is rolled out before it has a solid as fuck consumer protection system in place, along with crystal clear laws, that kind of stuff is going to be happening everywhere.

You honestly don't seem to see this as a problem.
>Oh they lost money, but we're making progress!
>The next bunch of users isn't going to lose money the same way.
Then something else just as catastrophic happens, and you'll be saying the same thing.
Had you lost your money in that collapse, I guarantee that you'd be singing a completely different tune now.

Just let people function as test animals and the system is going to be improved as we go. That's your answer. Push an incomplete system to the masses. Wonderful.

I'm going to be living in my safe and secure fantasy world trading BTC but counting my profits in fiat rather than Bitcoin until the system is good enough.
When I'm buying something I'm going to convert my Bitcoins to fiat and buy the product, because the rules governing money are clear. Bitcoin is a clusterfuck of laws and rules.
Fiat is infinitely more secure than Bitcoin.

>Let's free ourselves from the control of the banks!
>Protect our wealth in the case of economic collapse.
>Finally truly own something of our own, so the banks can't screw us over.
>Fuck the bankers

These have been the themes that people have been going by the whole time, don't you try to fucking deny it.
I don't care what the "real" fundamentals are, if detaching ourselves from banks and their control is the theme everyone has been talking about.

But now it's just ok because this is open source?
You found a loophole that allows you guys to say that now bank regulation is the greatest thing ever!
>It's open source, of course they can participate as much as they want!

Anonymous Sat Mar 1 18:42:42 2014 No.162410
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>>162093
>This is not about destroying the banks

>>140706

>The greatest thing about dollars is that you know some kid in a really poor country is getting bombed by a drone that was paid for with freshly printed money that, in addition to murdering children, also debases your personal wealth.

>Yeah dude, war bucks are the best. So much better than Bitcoin, what were they thinking?

]>>142864

You did hear about 6 bankers having committed suicide in the last few weeks, with two or three jumping off the buildings of the largest banks, right? Is this what you were referring to: http://nypost.com/2014/02/18/jpmorgan-bankers-suicide-is-3rd-mysterious-death-for-company/

They can see their system stealing money every day from poor people and they live as crooks. Not all of them are theives, but the stereotype of the sociopath banker is totally true, and lately a lot of them have been cracking up and jumping.

Something really bad must be happening behind the scenes right now.

>>139563
>Bankers are no incarcerated, but there is nothing they are more of than they are criminals.

Anonymous Sat Mar 1 18:50:42 2014 No.162445

>>162339
>That's your answer. Push an incomplete system to the masses.

How can anybody ever talk to you? I never tried to push this to the masses at all or suggested that is the path to take. As people, like myself, or businesses like tigerdirect, find bitcoin to be a better alternative for certain financial transactions, or for other functions that you can execute on the blockchain, they will use bitcoin.

>Bitcoin is a clusterfuck of laws and rules.

Funny coming from the person who uses the argument that there are no rules regulating it right now as being a major problem of it ever being adopted. As always you have a big problem with "right now" versus "in the future".

Define "bank regulation". You are so vague it is hard to understand you all the time. You use "big" words like amortize in order to sound like you know something about bitcoin, and then you posit the most incoherent statement that clearly implies bitcoiners now wish to have banks regulate bitcoin itself. The way you make logical leaps is something I cannot communicate with at all. Can you not understand that "open source" has always meant "free to use for all"? This is not a suddenly discovered loophole that actually goes against the entire ideology of bitcoin and we are totally double-backing on our stance just to try and get banks to invest.

Banks will never control bitcoin. That is not possible. They can use bitcoin as much as they want. We could never stop them from doing that even if what you falsely stated was true. It's like you have never heard of an open source protocol before.

Please though, do go on and tell me about the new $10k firmware and hardware update the is required of businesses to use bitcoin, and also tell me how banks proprietary network is faster and cheaper than the bitcoin network.

>>162410
Bitcoin forces banks and credit card companies to be more fair in their pricing. If they can't keep up, then they go out of business.

Anonymous Sat Mar 1 18:53:41 2014 No.162457

>>162445
Bitcoin creates a sub-par service that is useful for niche transactions where consumer security cannot be afforded or is not desired. It's like getting an open source copy of photoshop then claiming it is as robust as the pay version - it isn't. It's cheaper if you operate on razor thin margins or live near the poverty line.

>>	Anonymous Sat Mar 1 18:55:42 2014 No.162470 >>162445 With the potential, in time, to become better. The timeframe for that happening is disagreed upon, as we've been going around in circles about.

Anonymous Sat Mar 1 19:01:42 2014 No.162499

>>162457
I will refer you back to my post about sending money to a friend quickly and cheaply that suited my needs far better than any other service available. This was certainly a niche transaction for myself and most people, but the functionality of the service was quite a ways above par when compared to any other method.

>>162470
If anybody actually is on here saying that we should all switch over to bitcoin for everyday uses right now, of course they are an idiot or a troll. The timeframe for when bitcoin will be ready to replace your checking or savings account is disagreed upon. My guess is 2-3 years from now bitcoin will be a seamless system to get into if it ends up working out the problems it currently has.

Anonymous Sat Mar 1 19:07:12 2014 No.162527

>>162499
Yes, the timeline is the issue here.

I can't see it happening in less than 5, from what I've seen with consumer adoption in the past, assuming they can make it more user friendly and safe for consumers.

And keep in mind bitcoin needs to end up being significantly better to have a good shot at competing with the banking system. I've seen many products that were merely a little better be unable to beat entrenched systems because the cost of switching is too high - decades of legacy applications and support for something may not justify switching for the 1-2% reduction in fee.

Anonymous Sat Mar 1 19:20:41 2014 No.162578

>>162527
My bet is that eventually some of the banks will figure out how to use the bitcoin network to save on their costs. They can build a program for transferring any amount of money on a single satoshi of bitcoin. The bank could quickly and cheaply use one satoshi to transfer millions of dollars from one fund to another using the blockchain metadata feature that was added during one of the forks. In the past, the amount of wealth being transferred always massively compounded the amount of fees that must be spent transferring it. This no longer has to be the case with cryptocurrency or bitcoin.

Will banks adopt it? That might be the one million dollar question you will be asked in your lifetime, because if major banks accept it, then all barriers to price valuation are totally destroyed and it will go out to the moon. It is anybody's guess as to when or if that happens.

>>	Anonymous Sat Mar 1 19:26:47 2014 No.162611 >>162578 The banks already tried and failed to patent it. So yeah, you can be sure they are interested in the tech.

Anonymous Sat Mar 1 19:29:18 2014 No.162631

>>162445

>Hurr you said no rules, that must mean there are absolutely no rules regarding Bitcoin on this planet!!
>durr you said that no one even knows what Bitcoin is, yet NY is writing laws even as we speak.

You know, you sure like to latch onto these words quite literally.
Ok, I'll try to be more specific.

When I say no rules, I mean no common rules across the nation/world whatever you may prefer.
That example I gave you before, If I buy them from somewhere that has different rules and they get stolen by someone who lives in a place that has different rules what's the outcome?
Starting to get the picture here? No?

I'm looking at the big picture, I don't give a shit if 4 places have agreed upon some specific rules when 6 places have widely different set of rules, then there are 9 places that have also said something different. Not to mention some other place that hasn't said anything or that other place that has banned it.

To me that means that there are no common rules governing it. No rules. Or.. a clusterfuck of rules. Pick the one that floats your boat.
Nothing is agreed upon, of course there are rules, but something even close for this to function as a currency? No.
Starting to get my meaning here?

>do go on and tell me about the new $10k firmware and hardware update the is required.
Never said that you idiot.
I can play this game too.
>Do go on and tell me how storing my wealth in system that's unsafe and unstable as is good?

>>	Anonymous Sat Mar 1 19:35:47 2014 No.162667 So, I guess litecoin won't be on Mt.Gox, then.

Anonymous Sat Mar 1 19:36:04 2014 No.162678

>>162631
>unsafe and unstable

Seems to be working very well for everybody for everybody who didn't keep coins on Gox or some shitty hard drive they threw away.

>what if different countries have different laws, how can I know I am protected then

If you really want to take it to that level, so far we have Germany, USA, China, Russia, Japan, England, Argentina, Thailand, Estonia, Cyprus, Finland, Sweden, and several other countries issuing statements from their financial authorities and courts about what they think of bitcoin. How long until they start talking about bitcoin in the United Nations as a pressing issue?

Less than a year ago everybody said that the government would never pay any attention to bitcoin at all. I think we are still moving in the same direction as then but with greater velocity.

>>	Anonymous Sat Mar 1 19:41:02 2014 No.162710 File: 1.90 MB, 320x200, 1342665025246.gif [View same] [iqdb] [saucenao] [google] >>162667

Anonymous Sat Mar 1 19:47:33 2014 No.162732

>>162678

cont..

Bank regulation, now that is a hard one. How would they "regulate" it?
Traditional regulation is an impossible thing to do, which is one of the reasons why I think Bitcoin itself is going to die.

What I mean by regulation is somehow assimilating Bitcoin usage with banks.
Making them as the 3rd party here, to offer us consumer protection and safety. Insurance and all that.
They can do all this, but that would mean that we handle Bitcoin like we handle normal money. It would sure as hell no longer be free and it would completely defeat the purpose of free transactions.
They would demand all your information and would most likely impose all the possible taxes on Bitcoin.
It would have the same fees as fiat money.
Maybe it could even be made mandatory that all business regarding Bitcoin purchases needs to be conducted by your banks.
Otherwise there are no laws protecting your assets.
I can see that happening.

What's the point then? There's no point if Bitcoin is riddled with fees when letting bank handle it.
And if they are handling it and storing your coins, they have a certain amount of control over it.
>Store your coins in this bank.
It would be like sending your money to your account.

>what if different countries have different laws

There are international laws in place regarding many things, so far there are none regarding Bitcoin.
Also Gox isn't the only exchange that has gone down.

You seem to be thinking that this concept is just going to go forward during the years, and is going to see adoption with 100% certainty.
I don't share your optimism. There are so many problems to overcome that blind optimism isn't something I can accept here.

>>162611

Interested in the tech for sure. But I see them rolling out their own version that they have complete control over, rather than using Bitcoin.

Anonymous Sat Mar 1 19:51:34 2014 No.162747
File: 38 KB, 610x762, do-not-touch13.jpg [View same] [iqdb] [saucenao] [google]

>>162631
I just don't see the Federal Reserve Chairmen saying, "We don't have the power to regulate bitcoin," as a statement that the banks are going to try and ban it like Russia, the only country that did (not China, still legal there for personal use).

http://blogs.wsj.com/moneybeat/2014/02/27/yellen-on-bitcoin-fed-doesnt-have-authority-to-regulate-it-in-any-way/

Anonymous Sat Mar 1 19:54:04 2014 No.162765
File: 13 KB, 350x350, cate.jpg [View same] [iqdb] [saucenao] [google]

>>162678
Your posts are a complete gagglefuck, you know that? You have absolutely no concept of the world functions on any level.

You constantly criticize people who bring up the real barriers to adoption, referring to them as dinosaurs who can't think past the "old system", or some such nonsense that really is just a fallacious statement trying to say "YOU DON'T UNDERSTAND THE FUTURE MAN!"

There was that Anon a ways up who posted a spreadsheet, but a very realistic breakdown that demonstrated why a number of companies are not rushing to implement Bitcoin. He also posted a pretty varied example of how the typical American / Canadian / Eurofag would not benefit in their day to day life. You called him a dinosaur instead of attacking his points.

Found: >>160226 here, >>159846 here and >>159856 here.

You completely ignore that any form of consumer protection and regulated being integrated into the system will centralize it. A central authority would have the sole power to reverse and reduce transactions. This sole authority, even if non profit, requires a massive income to run (costs are proportional to the people using it). A fee would be levied and would close the gap of Bitcoin being a "feeless transaction system" while simultaneously destroying EVERYTHING Bitcoin is at a philosophical level.

Any of your examples, such as sending money to a friend, require your money to already be in Bitcoin. The volatility of Bitcoin means only those looking to capitalize on it keep Bitcoin in their wallet. Anyone else would change money into Bitcoin for the transaction, which completely removes the "no fees" aspect of the entire thing because you now involve the banks at the entry point unless you want to risk losing money by holding onto it as BTC (which I could consider a fee).

I can't tell if you are honestly blinded by your hope for the future of Bitcoin, or a completely transparent shill. What I do know is you talk out of your ass.

Anonymous Sat Mar 1 20:01:33 2014 No.162801

>>162732
Here is something you just need to insert into your brain, it will be hard to believe but you need to get this: the bitcoin network is faster, more secure, and cheaper to use than any network any bank has every created, and even the bank will have a faster, cheaper, and more secure network if they choose to use bitcoin. The customer never needs to even know the bank is using bitcoin. Like I said, the bank could set up a token system replacing pennies with satoshis on the block chain, and when you swipe your debit card it shows up at the first node and is instantly converted to satoshi units and sent through the blockchain, skipping every other very costly, by comparison, before getting to your bank account and removing the balance.

This gives advantages to everybody who uses it, just like email. Even the United States Postal Service workers use email every day at their job. Don't be surprised if banks use bitcoin protocol for many of their transactions in the future.

Anonymous Sat Mar 1 20:09:03 2014 No.162855

>>162801
>says bitcoin has no fees for use
>advocates for currency transfer on a per transaction basis
>doesn't realize it has exactly the same fees as it does right now as it still involves the banks
>talks about changing the world when he doesn't understand how the world works to begin with

You are a special kind of shilltarded.

Anonymous Sat Mar 1 20:16:03 2014 No.162886

>>162765
>A fee would be levied and would close the gap of Bitcoin being a "feeless transaction system" while simultaneously destroying EVERYTHING Bitcoin is at a philosophical level.

Bitcoin is a new technology that we can use as a much more efficient method of transferring wealth or ownership of anything real or virtual via the internet. It speeds up the method of transaction to a level that was completely unimaginable just five years ago. Everything from stock markets to bank accounts to contracts to elections can be carried out on the blockchain more cheaply than any current system. Anybody, even banks and governments, are welcome to use it if they wish. HTTP is a free and open protocol invented by libertarian neckbeards. Does that mean all forms of regulation on the internet destroy EVERYTHING about HTTP? Is HTTP kill?

Found: >>160226 here, >>159846 here and >>159856 here.

I clearly addressed his points. They were all easily summed up as mindless consumer zombie behavior of the most common order, work/shop/sleep/work/shop/sleep, and we came to the conclusion that, as I had already said in this thread earlier, bitcoin is not ready for everyday use right now. It is being developed rapidly and has a ways to go before the mainstream uses become more appealing to the masses.

>>	Anonymous Sat Mar 1 20:19:03 2014 No.162905 >>162886 Yeah, it sounds like Ripple has a future.

Anonymous Sat Mar 1 20:20:33 2014 No.162912

>>162886
I want to send you money via Bitcoin.
I have to buy Bitcoin.
I send a Bank transfer to someone who has Bitcoin
Once he receives the bank transfer I receive Bitcoins.
I send you Bitcoins
You receive Bitcoins.
You "cash out" and receive a bank transfer in a few days

Somehow more efficient than
Send you a bank transfer
You receive a bank transfer

Anonymous Sat Mar 1 20:25:32 2014 No.162942

>>162855
Oh you are such a dumb fuck.

1 satoshi = $0.0000055
Transfer cost for sending 1 satoshi from first node on their payment network directly to the final node, skipping all nodes in between from anywhere on Earth = $0.20

That will be the ongoing cost, as in, for each transaction the bank would have to pay that much, even if the transaction was millions of dollars worth of USD, even going from Zimbabwe to Antarctica. The whole certification process could be done with a single satoshi. The bank or credit card company saves money by using the bitcoin network. Do you have any idea what this means? I mean, why would they want to save money?

>>	Anonymous Sat Mar 1 20:27:03 2014 No.162956 >>162905 It might. They already have Bitcoin listed as their most popular cryptocurrency.

Anonymous Sat Mar 1 20:29:33 2014 No.162964

>>162942
This assumes you keep money in BTC, which your examples clearly demonstrate is not the case. You advocate for a system that replaces the old one by using it in it's entirety.

You have to send money to the BTC Exchange to get BTC. You then say convert the BTC back to Bitcoin. This requires the old method of banking in it's entirety.

Anonymous Sat Mar 1 20:40:32 2014 No.163026

>>162964
>>162964

No, that is not what I said at all.

The way that a bank could use BTC to reduce their own costs is to have the first node in their network convert the transaction to a single satoshi that would act as a token representing the transaction. This one satoshi would carry the metadata necessary for the final node in the bank's payment network to know which account spent how much money on what. This would not require the end user to keep an account with bitcoins and it would not even require the bank to keep a small fraction of their accounts value in BTC.

>>	Anonymous Sat Mar 1 20:42:33 2014 No.163035 >>162964 I never said "convert to or from BTC", I was talking about the use of metadata on a single satoshi, the smallest unit of bitcoin.

>>	Anonymous Sat Mar 1 20:44:33 2014 No.163038 File: 19 KB, 423x376, dog_ate_my_homework_shirt.gif [View same] [iqdb] [saucenao] [google] Never mind, I gave you too much credit. You don't actually know anything.

>>	Anonymous Sat Mar 1 20:49:32 2014 No.163062 >>163038 Good way to end it right there for you, if you are done.

Anonymous Sat Mar 1 20:55:33 2014 No.163077
File: 114 KB, 1600x1000, lAialLT.jpg [View same] [iqdb] [saucenao] [google]

>>162747
>>162732
CFTC is the one looking at regulating it for now, it's deemed a commodity. There will be additional requirements for exchanges in the US I'm sure.

>some random guys in Bulgaria open an exchange, it becomes a major player despite no one knowing literally anything about them or them having any customer service to speak of

This market is entertaining if nothing else

>implying I'm going to read the next 10 posts

Anonymous Sat Mar 1 20:55:33 2014 No.163079

>>163062
I am.

In all seriousness, everyone here knows you are a shill. You are desperately grabbing at straws. Normally this would be Tumblr tier bullshit but money is involved. You already said you mine Bitcoin and carry a balance. You have a vested interest in it's success no matter how much stupid you have to sound to do it. You don't want it to succeed for any other reason than personal profit.

So please, whenever you get the chance, hang yourself.

>>	Anonymous Sat Mar 1 20:59:33 2014 No.163090 >>163079 >hang yourself That's harsh. The standard exit bag would be fine, or eating a handful of barbiturates.

Anonymous Sat Mar 1 21:01:33 2014 No.163100

>>163079
Alright, we are going to have to parse this out a little.

>You already said you mine Bitcoin

No, I didn't say that at all. I said I sent my friend some bitcoin so he could buy mining parts. Let me tell you something about having real friends: sometimes you lend them money even if they might not be able to pay you back. I had some coins and decided that since he has always been great with hardware that he might be able to make some profit for himself out of a basic scrypt mining rig. He came to me with the proposal. I never told him about bitcoins before he talked about building a miner. I guess I should feel bad for helping my friend and sending him money the fastest way available. Thanks for letting me know about how I was being such a greedy asshole in that situation.

>>	Anonymous Sat Mar 1 21:02:33 2014 No.163109 File: 186 KB, 1600x926, 7mj3Z.jpg [View same] [iqdb] [saucenao] [google] >>163100 You still should hang yourself.

>>	Anonymous Sat Mar 1 21:04:34 2014 No.163116 >>163109 >people who help friends should die I've always enjoyed this place.

>>	Anonymous Sat Mar 1 21:06:34 2014 No.163122 >>163116 >said the newfag

Anonymous Sat Mar 1 21:07:03 2014 No.163128
File: 133 KB, 874x1108, noose.jpg [View same] [iqdb] [saucenao] [google]

>>163116
>people who construct fantasies to sell a concept while simultaneously ignoring all the obvious flaws that fuck over a majority of people because they want to personally profit should die

FTFY

>>	Anonymous Sat Mar 1 21:07:03 2014 No.163129 >>163122 You are are at the end of your clip. Time to reload soldier.

>>	Anonymous Sat Mar 1 21:10:34 2014 No.163144 >>163128 I never said anybody should die, unlike your proponents. Bitcoin benefits the majority.

>>	Anonymous Sat Mar 1 21:10:34 2014 No.163146 >>163129 This is like a cat torturing an moth, I'm just watching you flop around and throwing a paw in when it looks like fun.

>>	Anonymous Sat Mar 1 21:14:34 2014 No.163159 >>163144 >no consumer protection >countless people lost millions and have their lives destroyed in recent market crashes and Gox scandal >benefits the majority Please kill yourself.

Anonymous Sat Mar 1 21:17:33 2014 No.163166

>>163146
You mistake people understanding my point of view for me submitting to their argument. I am sure you think that earlier in this thread I was vehemently opposed to banks ever touching bitcoin in any way, and that no law int he world should ever be made to govern it. You are delusional. I have always viewed it the same way throughout this thread, and the reason the fireworks are dying down is because quite a few people on here realized that I am giving true information when they google search some of the things I mention.

Anonymous Sat Mar 1 21:20:33 2014 No.163170
File: 47 KB, 640x480, 1300235063183.jpg [View same] [iqdb] [saucenao] [google]

>>163166
You mistake me as having followed your arguments, or being here for any reason other than pic related.

Seriously, I hate to think how much money you have sunk into shitcoin to be shilling this hard.

>>	Anonymous Sat Mar 1 21:29:33 2014 No.163188 >>163170 The potential to connect the entire world with a cheap and faster wealth transfer system is going to help out a lot of people, most of whom are at an extreme disadvantage right now.

>>	Anonymous Sat Mar 1 21:30:04 2014 No.163193 >>163188 >>/tumbler/ Please go, or die.

>>	Anonymous Sat Mar 1 21:33:33 2014 No.163202 >>163193 That makes sense. You seem to only want threads on this board that are about how you can get more money, and nothing about other people in the world.

>>	Anonymous Sat Mar 1 21:35:33 2014 No.163209 >>163202 And you want BTC to succeed so you make a small profit at the expense of consumer protection of over 1 billion people - you are worse than the banks.

Anonymous Sat Mar 1 21:36:32 2014 No.163213
File: 19 KB, 400x309, noose.jpg [View same] [iqdb] [saucenao] [google]

>>163166

>reason the fireworks are dying down is because quite a few people on here realized that I am giving true information

Lol no.
You're speculating just like we are. We are just a bit more connected to the real world and bringing up some real problems here. You're blindly avoiding them.

We are giving up because there's no getting through to you.

So far you've just said that consumer protection will be in place in the near future. Who will provide it? How?
What's near future? If your near future is +2 years, you should take into the account that Bitcoin can move 10000% in a year.
It can crash into nothing in a matter of days.

You know, don't even bother answering, it will amount to nothing.
Just do as the pic says.

>>	Anonymous Sat Mar 1 21:39:03 2014 No.163220 File: 1.05 MB, 209x116, bitcoin threads.gif [View same] [iqdb] [saucenao] [google] >>163213 >>163209 >>163202 >>163193 >>163188 >>163170 >>163166 >>163159 >>163146 >>163144 >>163129 >>163128 >>163122 >>163116 >>163109 >>163100 >>163090 >>163079

>>	Kekaine Sat Mar 1 22:06:03 2014 No.163309 >>132353 k

>>	Anonymous Sun Mar 2 00:09:04 2014 No.163681 OP here. It's still over. Stop this.

>>	Anonymous Sun Mar 2 00:14:34 2014 No.163699 >>163681 >OP >Not a mod

>>	Anonymous Sun Mar 2 00:47:23 2014 No.163803 tl;dr version?

Anonymous Sun Mar 2 01:01:22 2014 No.163856

>>163803
>a bunch of obvious shills in this thread
>use logic to tell them why they are full of shit
>gotta_shill_fast.jpg
>the final shillmaster abandoned the thread, probably to hang himself

General consensus is Bitcoin is extremely flawed, and some new Virtual Currency / Alternative Payment Method will take it's place and establish itself.

Anonymous Sun Mar 2 02:14:58 2014 No.164070

>>163803

>everyone has a golden ball
>it's going to crash/it's heading to the moon
>my opinion is better than yours
>your analysis is flawed
>you're entitled to your own opinion, but it is wrong
>my technical analysis is spot-on, yet I've never bought or used it before

Anonymous Sun Mar 2 04:25:16 2014 No.164296

>>163856
>General consensus is Bitcoin is extremely flawed

According to Bloomberg and JP Morgan, you are correct. BoA and Ben Bernanke might disagree. You can side with the government of Russia in thinking bitcoin is bad and therefore we shouldn't even try using it, or you could think like the USA and give it a shot.

I am not sure whose consensus you are talking about.

>>	Anonymous Sun Mar 2 05:36:56 2014 No.164412 File: 35 KB, 500x250, emo-tastic.jpg [View same] [iqdb] [saucenao] [google] >>164296 I thought you did everyone a favor?

>>	Anonymous Sun Mar 2 06:02:13 2014 No.164459 Isn't it amazing that close to half a billion dollars just vanished into thin air? Poor suckers, literally.

>>	Anonymous Sun Mar 2 06:06:27 2014 No.164462 >>164459 except that's not what happened

>>	Anonymous Sun Mar 2 06:09:58 2014 No.164465 >>164462 You know, people can argue the semantics about how first and second degree murder are completely different things - at the end of the day someone is still dead. That money is gone and it's not coming back.

>>	Anonymous Sun Mar 2 06:12:28 2014 No.164467 >>164465 the money is not terminated, its innaccessible to mt.gox, other people might have it we don't know

>>	Anonymous Sun Mar 2 06:14:27 2014 No.164470 >>164467 Would you sleep easier at night knowing your car wasn't terminated, and that someone else is driving it?

Anonymous Sun Mar 2 06:15:57 2014 No.164471

>>164412
To the crowd proposing that bitcoin is difficult and expensive to use for a business: http://www.keyetv.com/news/features/top-stories/stories/bitcoin-gaining-popularity-despite-exchange-collapse-16440.shtml

That guy doesn't look like he has $10k or more to be able to pay for a bitcoin system. Wonder how he does it.

>>	Anonymous Sun Mar 2 06:16:29 2014 No.164473 >>164470 stop it, you said money vanished in thin air, that is wrong now u keep going on needlesly

>>	Anonymous Sun Mar 2 06:19:58 2014 No.164475 >somehow thinks everyone is the same person on a board with ID's enabled

Anonymous Sun Mar 2 06:24:58 2014 No.164479
File: 32 KB, 415x480, 1393759482219.jpg [View same] [iqdb] [saucenao] [google]

>>164471
>"It's kind of like PayPal. It goes directly to us 100 percent," said Joanna Linden.
Hmmm....
>and I can say from the merchant side it opens you up to a new market and bring you a new business,
Free advertising / mutual shill theory... Hmm...
>He's waiting to convert to dollars, hoping to strike gold.
Openly admits he is only doing it in hopes he will get rich.
>As for whether you want to test the waters, it all depends on how much you like to gamble.
Literally admits he is doing it to get rich.

Yeah sounds like he has real faith in it being a currency.

In summary, please pic related.

>>	Anonymous Sun Mar 2 06:30:28 2014 No.164484 >>164479 It would be really nice if gold didn't weigh anything, could be moved around the world in seconds, verified repeatedly for a few pennies, and was accepted as money at thousands of businesses.

Anonymous Sun Mar 2 06:36:28 2014 No.164492
File: 24 KB, 400x267, rope-noose-6906641.jpg [View same] [iqdb] [saucenao] [google]

>>164484
It sure would be nice if I had consumer protection safe guards in place to help me get back the bitcoin that was taken when I checked my email this morning!

Once again no one cares about your Kenyan oil worker

Once again, please >pic related

Anonymous Sun Mar 2 06:45:27 2014 No.164510

>>164492
When I bought something with Bitpay and cancelled my order, the amount of bitcoin that my purchase was worth in cash at the time of cancellation was deposited into my wallet. Since the price went down, I was refunded an extra half a bitcoin. The store didn't lose any money. These things are being worked out one by one. You just don't want to hear about it.

>>	Anonymous Sun Mar 2 06:52:28 2014 No.164516 >>164510 >example completely has nothing to do with what the fuck I talked about REMOVE CRYPTO REMOVE CRYPTO you are worst shill. you are the shill idiot you are the shill smell.

>>	Anonymous Sun Mar 2 08:01:20 2014 No.164663 File: 50 KB, 469x532, 1365631908631.jpg [View same] [iqdb] [saucenao] [google] Remember when it crashed from 280$ and everyone made funny may mays and laughed? Yeah, spurdo got filthy rich.

>>	Anonymous Sun Mar 2 08:10:19 2014 No.164690 File: 11 KB, 400x291, Putin Wink.jpg [View same] [iqdb] [saucenao] [google] >>164296 >side with USA or Russia

>>	Anonymous Sun Mar 2 08:20:38 2014 No.164723 >>143609 #told

>>	Anonymous Sun Mar 2 12:12:02 2014 No.165465 File: 1.62 MB, 533x533, 04562488.gif [View same] [iqdb] [saucenao] [google] >>164690

>>	Anonymous Sun Mar 2 12:28:34 2014 No.165531 I'm glad those faggots wanted to check my documents before accepting my money and it still wasn't done. Truly God's miracle.

>>	Anonymous Sun Mar 2 12:46:36 2014 No.165607 >>165465 hue >>164296 Why do you think China/Russia/Thailand has banned bitcoin?

>>	Anonymous Sun Mar 2 13:27:04 2014 No.165751 >>165607 thailand hasn;t banned bitcoin china forbitds banks to treat it as a currency because it is regulated as a commodity

>>	Anonymous Sun Mar 2 13:32:05 2014 No.165775 >>165751 Ah I see, an exchange recently reopened but it only allows trading in Baht.

Anonymous Sun Mar 2 14:52:05 2014 No.166124

March 2, 2014

To anyone concerned

Mark Karpeles
Representative Director
MtGox Co., Ltd.
Shibuya 2-11-5

Shibuya-ku, Tokyo

ANNOUNCEMENT REGARDING AN APPLICATION FOR COMMENCEMENT OF A PROCEDURE OF CIVIL REHABILITATION

An overview of the situation should be published here shortly (probably on March 3, 2014 (Japan time)).

Contact information

A call center has been established to respond to all inquiries. The call center is planned to start on March 3, 2014. All inquiries to MtGox Co., Ltd. should be made to the following telephone number:

Telephone number +81 3-4588-3921
Working hours Monday to Friday 10am to 5pm (Japan time)

Please refrain from contacting the office of the supervisor/investigator.

>>	Anonymous Sun Mar 2 20:03:03 2014 No.167583 How exactly does virtual currency vanish? This shit is numbers in a database, did some redguard break in and run off with a server?

>>	Anonymous Sun Mar 2 20:50:02 2014 No.167835 >>167583 The "numbers in MtGox's database" have to be backed by actual bitcoins in order to be worth anything. If MtGox lost their bitcoins, they can't just create more. They're not some sort of Bitcoin mint.

Anonymous Sun Mar 2 22:58:30 2014 No.168254

ONE OF US ONE OF US ONE OF US

https://pay.reddit.com/r/Bitcoin/comments/1zdx2a/2007_french_documentary_suck_my_geek_featuring/
https://pay.reddit.com/r/Bitcoin/comments/1zdx2a/2007_french_documentary_suck_my_geek_featuring/
https://pay.reddit.com/r/Bitcoin/comments/1zdx2a/2007_french_documentary_suck_my_geek_featuring/
https://pay.reddit.com/r/Bitcoin/comments/1zdx2a/2007_french_documentary_suck_my_geek_featuring/
https://pay.reddit.com/r/Bitcoin/comments/1zdx2a/2007_french_documentary_suck_my_geek_featuring/

>Karpeles: "Me for example, I have lots of girlfriends, but they are in jpeg, png or even in avi"

>Karpeles: "Me for example, I have lots of girlfriends, but they are in jpeg, png or even in avi"

>Karpeles: "Me for example, I have lots of girlfriends, but they are in jpeg, png or even in avi"

>Karpeles: "Me for example, I have lots of girlfriends, but they are in jpeg, png or even in avi"

>Karpeles: "Me for example, I have lots of girlfriends, but they are in jpeg, png or even in avi"

>>	Anonymous Sun Mar 2 22:59:32 2014 No.168256 File: 112 KB, 608x480, 3dpd-pig.jpg [View same] [iqdb] [saucenao] [google] >>168254 (forgot pic)

Anonymous Sun Mar 2 23:00:33 2014 No.168259

>MK: "Today, society provide means for someone to live without ever leaving his house"
>MK: "Today, society provide means for someone to live without ever leaving his house"
>MK: "Today, society provide means for someone to live without ever leaving his house"
>MK: "Today, society provide means for someone to live without ever leaving his house"
>MK: "Today, society provide means for someone to live without ever leaving his house"

he is truly the king of NEETs, he was living the dream

>>	Anonymous Sun Mar 2 23:02:32 2014 No.168268 File: 99 KB, 1280x720, 1393819378695.jpg [View same] [iqdb] [saucenao] [google] Thought you guys might enjoy this https://www.youtube.com/watch?v=6HJt-MpoTP4&feature=youtu.be Japanese lady doing damage control for Gox

>>	Anonymous Sun Mar 2 23:09:01 2014 No.168294 >>168268 >can i record this phone call? >mtg:i appreciate it if you don't, can you refrain from recording? >uhhhhhhhh oooookay >(keeps recording) kek, why even ask

>>	Anonymous Sun Mar 2 23:14:01 2014 No.168313 >>168268 https://www.youtube.com/watch?feature=player_detailpage&v=6HJt-MpoTP4#t=285 the girl at 4:50 sounds adorable, she is hilarious at 6:00-6:20 >7:15: muh litecoin

>>	Anonymous Sun Mar 2 23:17:31 2014 No.168321 >>168313 karpeles knew the only way to placate libertarian neckbeards was to let them talk to potential waifus on the telephone

>>	Anonymous Mon Mar 3 00:07:34 2014 No.168509 >>168268 Oh that is hilarious. >>164516 You are still a terrible person. Trying to keep the price down for yourself by spreading fud.

Anonymous Mon Mar 3 01:33:39 2014 No.168772
File: 26 KB, 150x188, 1390783243239.jpg [View same] [iqdb] [saucenao] [google]

>>168509
>trying keep the price down for yourself

How does that exactly benefit him if the price is low? Unlike you, where your shilling is 100% directly proportional to how much profit you want to make in capital gains from BTC (or at least recoup your losses from the recent crash)... No one benefits by saying shitting on Crypto's..

Unless people shit on crypto's because they are terrible and no one wants to use them.

>>	Anonymous Mon Mar 3 01:47:41 2014 No.168809 What the fuck. How long has this board been here? I need honest answers

>>	Anonymous Mon Mar 3 01:54:11 2014 No.168830 >>168809 about 2 or 3 weeks

>>	Anonymous Mon Mar 3 01:55:12 2014 No.168833 BREAKING NEWS https://news.ycombinator.com/item?id=7332282 http://dzoba.com/apparently-mt-gox-has-been-hacked-againby-people-trying-to-find-out-what-happened/ BREAKING NEWS

>>	Anonymous Mon Mar 3 01:56:11 2014 No.168840 >>168830 wait seriously?

>>	Anonymous Mon Mar 3 02:00:10 2014 No.168858 File: 53 KB, 610x640, 1390290240515.jpg [View same] [iqdb] [saucenao] [google] >>168833 >apparently-mt-gox-has-been-hacked-againby-people-trying-to-find-out-what-happened TOP KEK

Anonymous Mon Mar 3 02:03:41 2014 No.168869

>>168772
>how does he benefit from keeping the price low

Manipulators are buying coins right now at the new bottom because they actually studied the entire price history and all of the news stories. When Bloomberg/JPMorgan is telling you something is a bad investment, you know they are buying it. This is pretty basic fud spreading in order for them to buy a position in what they now call "Neckbeard Land" so that they can sell it to idiots like you later when Bloomberg starts calling it "The Future of Finance".

How new are you?

>>	Anonymous Mon Mar 3 02:06:40 2014 No.168884 >>168772 And that is how you can tell the "bitcoin bubble" hasn't even begun yet, you stupid fuck, Wall Street hasn't even begun to pump it at all.

Anonymous Mon Mar 3 02:15:40 2014 No.168915
File: 40 KB, 1280x720, fedora.jpg [View same] [iqdb] [saucenao] [google]

>>168869
>>168884

Your delusion knows no bounds.

I really hope you make back the money you lost so you can shut the fuck up. You are transparent - everyone knows your motives. You aren't fooling anyone.

Even then we might be giving you too much credit, as you could possibly be this retarded.

>>	Anonymous Mon Mar 3 02:21:11 2014 No.168926 File: 64 KB, 604x385, NobodyWantsEm.jpg [View same] [iqdb] [saucenao] [google] >>168915 Would you call me crazy? vid related http://vimeo.com/86227541

>>	Anonymous Mon Mar 3 02:21:41 2014 No.168927 >>168833 tldr?

Anonymous Mon Mar 3 02:27:44 2014 No.168944

>>168927
>Mt. Gox blamed bitcoin itself for their own negligence in creating flawed exchange software
>Many bitcoin users are hackers and computer geeks
>$500 million dollars worth of "lost" assets is at stake
>Mt. Gox clenched information sphincter
>Hackers unclench it

Make sense?

LL: Don't steal millions of dollar from hackers using a computer network. Could turn out badly for you. Just sayin'

Anonymous Mon Mar 3 02:32:44 2014 No.168960
File: 249 KB, 785x1121, dongledrop.jpg [View same] [iqdb] [saucenao] [google]

>>168915
>It is not a bad idea to listen to Bloomberg and JP Morgan for financial advice

Your delusion knows no bounds.

I really hope you make back the money you lost so you can shut the fuck up. You are transparent - everyone knows your motives. You aren't fooling anyone.

Even then we might be giving you too much credit, as you could possibly retarded enough to listen to outsider information from Wall Street fat cats.

Anonymous Mon Mar 3 02:38:44 2014 No.168976
File: 18 KB, 300x261, 5096044206_78f0846f2e_z.jpg [View same] [iqdb] [saucenao] [google]

>>168926
Yes. Because:
>half of the main obvious flaws that make Bitcoin shit for day to day life you completely ignore and bypass
>half of the other flaws you simply say "IT'S THE FUTURE IT DOESN'T MEET THE DEFINITIONS OF THE PAST STOP THINKING IN THE PAST"
>doesn't have even the most basic of knowledge of current business ownship/operation works, economics, or even how people use money in 99% of their lives yet claims how incredibly fucked fiat, the banking system, and current payment methods are
>when people in this thread have constantly countered your point using common knowledge and detailed information you have supplied one of the following responses:
>"bloomburg" ad infinitum
>"dinosaur" ad infinitum
>"I sent bitcoins to my friend so he could buy bitcoin hardware!" repeat ad infinitum
>"DONT YOU CARE ABOUT AFRICAN OIL WORKERS YOU SELFISH FUCK?!" repeat ad infinitum

Anonymous Mon Mar 3 02:56:14 2014 No.169028

>>168976
Here is the bullshit coming from your side:

"Bitcoin cannot be upgraded even though it has been forked three times already, adding useful new features each time."
"Bitcoin can be lost forever, and therefore gold or cash is superior since a gold bar dropped into the ocean will still be at the bottom of the ocean waiting for you"
"Bitcoin payments will cost a business almost as much, or more, to set up as VISA card payments"
"Bitcoin will be regulated or taxed out of existence in the USA even though lawmakers are working hard and fast to bring it into the USA economy right now"
"If corporations or banks use bitcoin, it will destroy bitcoin ever stood for even though it is open source and should always be free for everybody to use as they wish"
"Banks could not possibly benefit from using bitcoin even though they could use the network just like anybody else"
"The average consumer will probably not be able to figure out bitcoin no matter how user friendly it becomes"
"Banks will do everything they can to shut it down even though BoA just gave it a very positive review"
"If it won't benefit the average consumer in the top 15% of the world population, which I represent ever so perfectly, then bitcoin will die."

The majority of that bullshit came from you.

Anonymous Mon Mar 3 03:13:44 2014 No.169080

>>169028
>"Bitcoin cannot be upgraded even though it has been forked three times already, adding useful new features each time."
You can't add user protection regulation without centralizing it. The entire nature of Bitcoin is a decentralized, deregulated currency. You can't update that out of it because then it is no longer bitcoin.

>"Bitcoin can be lost forever, and therefore gold or cash is superior since a gold bar dropped into the ocean will still be at the bottom of the ocean waiting for you"
Strawman Argument, never said this or implied it.

>"Bitcoin payments will cost a business almost as much, or more, to set up as VISA card payments"
You got the wrong guy
But a simple Google search would verify the that a POS system costs over a thousand, minimum, and can easily break a five figure cost.
For someone who is an expert of economics I'm surprised you don't know how much a cash register costs.

>"Bitcoin will be regulated or taxed out of existence in the USA even though lawmakers are working hard and fast to bring it into the USA economy right now"
Never said this, and strawman.

>"If corporations or banks use bitcoin, it will destroy bitcoin ever stood for even though it is open source and should always be free for everybody to use as they wish"
Never said this.

>"Banks could not possibly benefit from using bitcoin even though they could use the network just like anybody else"
Your only example provided was to use BTC's encrypted note measure to transfer records and logs around. You said it yourself, they wouldn't actually transfer any money with it.

>"The average consumer will probably not be able to figure out bitcoin no matter how user friendly it becomes"
Viruses stealing your wallets, lack of charge backs, and nonsense. Your only example where people benefit are lack of transaction fees (store level) and to people who don't have banks.

Anonymous Mon Mar 3 03:14:45 2014 No.169085

>>169080

>"Banks will do everything they can to shut it down even though BoA just gave it a very positive review"
Strawman & never said this

>"If it won't benefit the average consumer in the top 15% of the world population, which I represent ever so perfectly, then bitcoin will die."
For it to become popular and useful, other than a fad in which people start buying coffee from the one coffee shop that takes BTC because "HEY THEY TAKE BTC LETS GIVE THEM MONEY", it needs to benefit people. Credit, Debit and Cash have their obvious advantages in day to day life. Keeping your money in BTC, given that it's volatile, imposes "fees" if your currency drops or fluctuates in day to day business, directly altering your purchasing power.

In the morning I might have enough BitCoin to purchase 3 bottles of pop, but by the evening I might not have enough anymore because the price dropped, meaning the soda costs more.

Last week my 3 bottles of pop cost 3 dollars. They will cost that much next week, and the next month after.

Once you get into the nature of Converting Money > BTC for transactions it becomes more inconvenient than VISA (less safe in case of scam or dispute with merchant), as convenient as Paypal (and less safe in case of scam or dispute with merchant), and as convenient as a bank transfer / cheque cashed (which still have ways to reverse transactions - it is less safe on a day to day level to use it, and if you are just changing your money into BTC for a transaction you also introduce all the fees you are trying to eliminate from the process.

There is no reason for one billion people to use it, other than for illicit means (which was the reason it became popular in the first place)

>>	Anonymous Mon Mar 3 03:18:45 2014 No.169102 >>169085 Bitcoin supporters are cultist. You're words are falling on deaf ears.

>>	Anonymous Mon Mar 3 03:28:15 2014 No.169150 File: 95 KB, 546x816, 1393835321453.jpg [View same] [iqdb] [saucenao] [google] >>169102 I literally have nothing else to do right now, which is why I humor him. He's the one who has to live with himself - I'm just here to laugh and laugh.

Anonymous Mon Mar 3 03:31:43 2014 No.169160

>>169085
>There is no reason for one billion people to use it, other than for illicit means

Something tells me there might just be a billion people around the world that do have cell phones and do not have access to a trustworthy bank that allows them to use VISA or Paypal. You don't think people like that even matter in this world.

>>	Anonymous Mon Mar 3 03:35:14 2014 No.169182 >>169160 I feel like those billion people also don't have access to reliable internet that would allow them to actually use your eBucks

Anonymous Mon Mar 3 03:36:14 2014 No.169184

>>169160
They don't matter in my local or international economies that matter, no.

As nice as it is to support a currency that can supposedly help a Kenyan Oil Worker support his family, we don't need to change our entire currency to do it.

If you want this to be the currency of the African continent? Sure! Go right ahead! No one is stopping them from adopting Bitcoin.

Why you are telling us to adopt Bitcoin is? I said it yesterday:

"And you want BTC to succeed so you make a small profit at the expense of consumer protection of over 1 billion people - you are worse than the banks."

>>	Anonymous Mon Mar 3 03:36:14 2014 No.169185 >>169150 o/t but that's Cambridge, England. I went there with a friend in 2009 to pick up these two Russian sluts my friend had met the week before. Great memories.

Anonymous Mon Mar 3 03:40:44 2014 No.169196

>>169150
When you take a car trip with your friends or family, do you argue and debate, aggressively, for the entire trip? Do guests often stop you from getting into a fight, even though you can argue endlessly and angrily all day and never have it get physical?

Yeah, you are really wearing me down. More than I ever been rustled in my life.

>we don't need to change our entire currency to help the Kenyan oil worker

I never said anything about changing the entire economy. Nice strawman coming from somebody who just threw out that term a bunch of times in a row.

Anonymous Mon Mar 3 03:52:14 2014 No.169236
File: 37 KB, 497x530, 1372933985359.jpg [View same] [iqdb] [saucenao] [google]

>>169196
You have said numerous times Bitcoin is the future because of speed, security and is not controlled by the greedy Wall Street Fat Cats.

So much so that it will inevitably replace bank transfers, credit cards, and all other nonsense because it is superior in every way and so safe and secure!!1!

You say this while ignoring the obvious downsides to BTC and safe guards that we installed in our current economic systems that are 100% incompatible with a decentralized system.

You always divert from these points by saying how people in other countries use Cell Phone minutes, or it can help someone send money back home to a loved one - neither of which solve any of the problems brought up and is a 100% obvious, transparent skirting of the issue.

By advocating, to us, you are saying we need to adopt Bitcoin. You are saying in a very direct and literal way that we eventually need to give up the safety and security of our current system (of which we pay a marginal fee to benefit from) to adopt this new system because it is the future and all the perceivable downsides are merely dinosaur thinking.

If I were to start up a non-profit payment processing company it would literally be no different from Bitcoin - except you would retain the ability to reverse transactions and govern the system.

Once again, you are looking to profit in a very small way (at most I would imagine a 5 figure profit in capital gains) by removing fail safes and consumer protections of over 1 billion people, where millions of dollars will be lost, stolen, scammed, or displaced from countless individuals every year - so much so that in Bitcoins brief popularity stint in the last year the amount of money that has been taken from honest, every day people with no chance of it getting back to them is closer to one billion dollars than zero dollars.

Anonymous Mon Mar 3 03:57:14 2014 No.169253
File: 1.02 MB, 260x187, 1374753664466.gif [View same] [iqdb] [saucenao] [google]

>>169196
In summary:

You are the lowest scum on this board, if not the planet. A horrible human being by every conceivable measure. If you believe in an afterlife I hope you burn in your version of hell for your selfish, immoral bullshit you have spewed here over the past few days.

>>	None !SPIN.LLhHw Mon Mar 3 04:59:14 2014 No.169417 File: 1.82 MB, 346x346, 1393840669.gif [View same] [iqdb] [saucenao] [google] >>169253

>>	Anonymous Mon Mar 3 05:09:44 2014 No.169451 >>132353 >2744 replies Jesus fuck...

>>	Anonymous Mon Mar 3 05:35:24 2014 No.169528 >>132353 Can sticky go away now? I hate cryptoshills as much as the next guy, but unfortunately bitcoin still stands.

>>	You's a pussy ass nigga Anonymous Mon Mar 3 07:49:05 2014 No.169806 >>169528 Oh is that how this works? This discussion was all about the imminent death of Bitcoin? And now you want it gone because the death doesn't seem so imminent.

>>	Anonymous Mon Mar 3 10:09:25 2014 No.170095 >>169806 They can't kill it with fire, so now the crying game commences.

>>	Anonymous Mon Mar 3 10:26:26 2014 No.170151 File: 1.06 MB, 209x116, bitcointhreads.gif [View same] [iqdb] [saucenao] [google] >>170095

>>	Anonymous Mon Mar 3 11:05:25 2014 No.170296 Busted right through that 600 resistance like a muthafucka. Next stop: 7 hundeez.

>>	Anonymous Mon Mar 3 11:32:56 2014 No.170392 >>169028 Bitcoin will have to compete with Hawala systems (and/or have some of it's protocol adopted) if it wants to compete with the middle 40-60% of the global population. The very bottom tier is so poor that anything can help them.

Anonymous Mon Mar 3 11:48:26 2014 No.170426
File: 49 KB, 500x472, oy vey baby.jpg [View same] [iqdb] [saucenao] [google]

Haha, oy vey:
http://dzoba.com/apparently-mt-gox-has-been-hacked-againby-people-trying-to-find-out-what-happened/

MTGOX has been hacked yet again, they got scans of customer passports. Supposedly the hackers are doing their own investigation.

So they've been repeatedly breached by physically and virtually.

Anonymous Mon Mar 3 11:53:57 2014 No.170435
File: 220 KB, 816x1222, 1393865604099.jpg [View same] [iqdb] [saucenao] [google]

http://www.wired.com/wiredenterprise/2014/03/bitcoin-exchange/

>The 28-year-old Karpeles was born in France, but after spending some time in Israel, he settled down in Japan. There he got married, posted cat videos and became a father. In 201s1, he acquired the Mt. Gox exchange in from an American entrepreneur named Jed McCaleb.s

>And, according to insiders, he thought nothing of dropping the business of the day to order flat screen TVs or $400 lunches for the staff of Gox’s expanded Tokyo headquarters, which now occupies three floors of a modern office building in the city’s Shibuya neighborhood. “He likes to be praised, and he likes to be called the king of bitcoin,” says another insider who spoke on condition of anonymity. “He always talks about how he’s a member of Mensa and has an above-average IQ.”

/pol/ is gonna love this shit

>>	Anonymous Mon Mar 3 11:54:57 2014 No.170439 >>170426 >NEARLY THE WHOLE BITCOIN COMMUNITY MASS DOXED TOPKEK THE ONLY WINNERS HERE ARE STRAIGHT MINERS WHO GOT INTO IT CLEAN EVERY LAST EXCHANGE IS RUN BY SHADY SCUMBAGS ANDOR INCOMPETENTS

>>	Anonymous Mon Mar 3 11:56:57 2014 No.170443 >>170439 H-h-hey now, I'm sure the anonymous Russian Bulgarians who make up 15% of the exchange volume are legit.

>>	Anonymous Mon Mar 3 12:36:52 2014 No.170619 File: 43 KB, 549x316, 1372516722303.jpg [View same] [iqdb] [saucenao] [google] >>170439 >giving over real information to buttcoin exchanges

>>	Anonymous Mon Mar 3 12:43:38 2014 No.170648 >>170619 After having their US assets seized by the SEC Gox required ID and proof of residence before you could move any fiat in or out.

>>	Anonymous Mon Mar 3 12:45:38 2014 No.170659 >>152700 >To me it seems that it has almost reached a new ceiling. Not found a bottom.. Suck it, nerd.

>>	Anonymous Mon Mar 3 12:49:37 2014 No.170694 >>170659 >happening in Ukraine >buttcoins go to the moon And they called me crazy for buying back in when Mt. Goy imploded.

>>	Anonymous Mon Mar 3 12:58:38 2014 No.170773 BTC is 700 now WTF

>>	Anonymous Mon Mar 3 13:05:09 2014 No.170829 >>170773 Yeah, someone's buying up all the coins. Thousands of coins being bought. Wonder who.

>>	Anonymous Mon Mar 3 13:06:39 2014 No.170832 >>170773 lol came to this thread to laugh at the bounce back myself

>>	Anonymous Mon Mar 3 13:08:09 2014 No.170853 File: 102 KB, 1406x378, gottim.jpg [View same] [iqdb] [saucenao] [google] HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA Where is your FUD God now, grampafags?!?! >ultimatethreadbackfire

>>	Anonymous Mon Mar 3 13:28:07 2014 No.171006 Bitcoin value increased by $100 today wtf happened, is Karpeles kill?

>>	Anonymous Mon Mar 3 13:36:25 2014 No.171063 File: 10 KB, 396x388, 1393469256464.jpg [View same] [iqdb] [saucenao] [google] >>170426 I-I can't be harmed becasue someone has the photo page of my passport, r-right?

>>	Anonymous Mon Mar 3 13:46:56 2014 No.171140 >>169253 I am so glad that you missed your buy-back target.

>>	Anonymous Mon Mar 3 13:47:57 2014 No.171147 >>133715 so, this was me prices in bitcoins have gone up from $450 to about $705 i've made $3,825 already looks like these people were wrong >>133725 >>133734 lol

>>	Anonymous Mon Mar 3 13:58:56 2014 No.171202 >>139974 what site is this?

>>	Anonymous Mon Mar 3 14:02:56 2014 No.171231 >>171202 GoyMarketPredictions.org

>>	Anonymous Mon Mar 3 14:03:56 2014 No.171240 >>171147 HODL

>>	Anonymous Mon Mar 3 14:14:27 2014 No.171293 >>132513 >>132513 >>132513 What site is this graph from?

>>	Anonymous Mon Mar 3 14:21:57 2014 No.171340 >>171293 http://bitcoinity.org/markets

>>	Anonymous Mon Mar 3 15:11:57 2014 No.171601 File: 188 KB, 1024x1024, 1384757792435.jpg [View same] [iqdb] [saucenao] [google] Heh. This vid was made almost a year ago and it's fitting: https://www.youtube.com/watch?v=K2ku1A5Ox8U

>>	Anonymous Mon Mar 3 15:30:57 2014 No.171709 >>171147 >tfw it's at about $660-$670 thanks bitcoin, for helping me make my last way of profit on you im done with bitcoins : ) i've obsessed with them for most of my life

>>	Anonymous Mon Mar 3 16:56:32 2014 No.172205 >>171709 >obsessed with them for most of my life > <10 year olds are browsing 4chan now. Underageb& plz go

>>	Anonymous Mon Mar 3 17:17:34 2014 No.172307 Woah bitcoin believers are totally irrational. I'm going to profit off this. > Real stocks and currencies go down > Bitcoin goes up Predictably retarded.

>>	Anonymous Mon Mar 3 17:57:28 2014 No.172476 >>172307 It's the same as gold market psychology. Shit hits the fan internationally = prices go up.

>>	Anonymous Mon Mar 3 18:20:57 2014 No.172599 >>172307 >Predictably ballin. Fixed that for you, gramps.

>>	Anonymous Mon Mar 3 18:27:57 2014 No.172647 >>172205 oh i exaggerated most of my time within the last 5 years*

>>	Anonymous Mon Mar 3 18:29:27 2014 No.172655 >>172599 Honestly I'm going to spend a few grand on bitcoin just so I can enjoy the pump and dump experience with you all. The thought of buying from an entirely anonymous exchange from Bulgaria feels so seedy and yet so right.

>>	Anonymous Mon Mar 3 21:19:07 2014 No.173580 >>132664 See>>137107 The fact that there still there is irrelevant to the thread of discussion, herptard

>>	Anonymous Mon Mar 3 21:21:36 2014 No.173588 >>139717 because you live in fucking hickville, you stupid hick see >>139896

>>	Anonymous Mon Mar 3 21:46:07 2014 No.173709 yeah and I live in London btw ^_^

>>	Anonymous Mon Mar 3 22:41:56 2014 No.174023 >>173709 london sucks ass

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/biz/ - Business & Finance