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Bitcoins - anyone else mining? (1 Viewer)
- Thread starter Charlie Frown
- Start date
lod01
Footballguy
While regulators sleep, bitcoin moguls steal your money: http://www.huffingtonpost.com/georges-ugeux/the-bitcoin-is-victim-of-_b_4676132.html
identikit
Footballguy
Competitors to bitcoin:
http://www.wired.com/underwire/2014/01/cryptocurrency-memes-altcoin/?cid=co17852984
I'm partial to 4, 7, and 8.
http://www.wired.com/underwire/2014/01/cryptocurrency-memes-altcoin/?cid=co17852984
I'm partial to 4, 7, and 8.
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Osaurus
Footballguy
Maelstrom
Footballguy
If I had to pick an alternate currency that might in the end, challenge BitCoin for usage, I'd have to say it would probably be DogeCoin. Started as a joke based off a meme, and is now quite popular. One of the top 5 crypto-currencies by volume and one of the only ones regularly traded. Granted some of that is because it's easy to trade a currency where you can give someone D100 and it's like handing them 2 US pennies.
But...the community around DogeCoin is pretty awesome. And they are having fun with it, and are inviting of new users. Unlike the BitCoin community, which has tended to be a bit...standoffish at the best, crazy libertarian/conspiracy/stay away from me at the worst. People are flocking to the friendly community and the easy use of DogeCoin.
Add to that the current decision to allow DogeCoins to be mined past the cap of 100Billion in 10000DC blocks, means the currency won't be deflationary (also not likely to be inflationary as well as the coins mined will likely just replace those lost). A currency that isn't deflationary means that more people are willing to trade and use the currency, rather than hoarding it because tomorrow it will be worth more.
From the BitCoin reddit:
Woof. Doge much fun. To the moon! (yes, I'm having fun reading their Doge reddit and playing off the meme too)
But...the community around DogeCoin is pretty awesome. And they are having fun with it, and are inviting of new users. Unlike the BitCoin community, which has tended to be a bit...standoffish at the best, crazy libertarian/conspiracy/stay away from me at the worst. People are flocking to the friendly community and the easy use of DogeCoin.
Add to that the current decision to allow DogeCoins to be mined past the cap of 100Billion in 10000DC blocks, means the currency won't be deflationary (also not likely to be inflationary as well as the coins mined will likely just replace those lost). A currency that isn't deflationary means that more people are willing to trade and use the currency, rather than hoarding it because tomorrow it will be worth more.
From the BitCoin reddit:
Definitely something to keep an eye on. Main stream new outlets are starting to write about it, and vendors are starting to accept it. I will say this nice about Bitcoin, once a vendor accepts that, it is pretty darn easy to also accept alt-currencies like Dogecoin.
Woof. Doge much fun. To the moon! (yes, I'm having fun reading their Doge reddit and playing off the meme too)
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Maelstrom
Footballguy
Oh, I should add, that while I would expect Doge to inflate as it is mined up to 100Billion coins, I don't ever expect to see it at Bitcoin type prices. This isn't a "buy now and get rich" currency. But it could probably get to somewhere near on par with the USD or maybe the US penny. And that would be a pretty nice place for a crypto-currency to be.
Jojo the circus boy
Footballguy
Gold > Silver > Copper (wheat pennies)
Bitcoin > Litecoin > Dogecoin
They all are based on similar proof-of-work algos on different schedules, so if Bitcoin fails due to a poor design the rest would sure to follow suit. If anything, having a shorter schedule would be more problematic due to increased blockchain size.
On a side note, two investors flew into nyc to meet with my business partner, said they had $10MM in backing and wanted to know how fast we could setup our trading platform to work on the crypto exchanges. They are not interested in trying to arb across exchanges which I was glad to hear since moving funds around is a real challenge and risky due to the delays imposed by the exchanges (probably a result of all of the AML regulations).
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Bad day for bitcoin. Banned in Russia, price is crashing, wallet apps removed from iTunes, and exchanges are keeping people from withdrawing.
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Jojo the circus boy
Footballguy
Anyone with half a brain don't use wallets on iPhone.
http://www.dailydot.com/politics/nsa-backdoor-iphone-access-camera-mic-appelbaum/
Exactly - there's like a 40 step process to spending your money. Anyone stupid enough to invest heavily in this knows that.
Anyone with half a brain don't use wallets on iPhone.
http://www.dailydot.com/politics/nsa-backdoor-iphone-access-camera-mic-appelbaum/
Sounds an awful lot like what happens when there's a bank run, but the bank doesn't have enough to cover their deposits anymore. They aren't going to be able to keep this at $700 for long if the guys with all of the coins can't take hits like this. Seems like a mid year meltdown is well in progress.
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Maelstrom
Footballguy
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Jojo the circus boy
Footballguy
All of the shady countries that like to screw over their populace are banning Bitcoin, they feel threatened by it and instead of coming clean they blame it on money laundering.
I thought every country was a shady country trying to screw over their populace, which is what necessitates Bitcoin.
![[icon]](/data/avatars/m/5/5167.jpg?1660313464){kind=avatar}
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Insoxicated
"The documents suggest that the NSA needs physical access to a device to install the spyware"
Anyone with half a brain don't use wallets on iPhone.
http://www.dailydot.com/politics/nsa-backdoor-iphone-access-camera-mic-appelbaum/
So where do the half-brained like yourself store your bitcoin?
Anyone with half a brain don't use wallets on iPhone.
http://www.dailydot.com/politics/nsa-backdoor-iphone-access-camera-mic-appelbaum/
Jojo the circus boy
Footballguy
"The documents suggest that the NSA needs physical access to a device to install the spywaresomething the agency has achieved by rerouting shipments of devices purchased onlinebut a remote version of the exploit is also in the works."icon said:"The documents suggest that the NSA needs physical access to a device to install the spyware"Jojo the circus boy said:bagger said:
http://www.dailydot.com/politics/nsa-backdoor-iphone-access-camera-mic-appelbaum/
Icon, I know you are 1 of the biggest Apple fan boys here, but common, they aren't open source so who knows what kind of devious back doors are installed, ripe for hackers to exploit??
Tom Servo
Nittany Beavers
He doesn't have any, so storage is not a problem for him.Slapdash said:So where do the half-brained like yourself store your bitcoin?Jojo the circus boy said:bagger said:
What piece of technology do you think the NSA couldn't do this too? It was revealed they are doing this to computer hardware."The documents suggest that the NSA needs physical access to a device to install the spywaresomething the agency has achieved by rerouting shipments of devices purchased onlinebut a remote version of the exploit is also in the works."icon said:"The documents suggest that the NSA needs physical access to a device to install the spyware"Jojo the circus boy said:bagger said:
http://www.dailydot.com/politics/nsa-backdoor-iphone-access-camera-mic-appelbaum/
Icon, I know you are 1 of the biggest Apple fan boys here, but common, they aren't open source so who knows what kind of devious back doors are installed, ripe for hackers to exploit??
Politician Spock
Footballguy
You just decribed all governments, including the US federal government. Bitcoin isn't the first currency to compete with the US dollar. It's just the first digital one. All the others have tried and lost. So will Bitcoin.Jojo the circus boy said:
I believe the US dollar has systemic faults that will cause our economy to suck for the next 20 years, assuming it doesn't crash. It's going to cause the world economy to suck for the next couple decades too. So believe me when I say I wish there was a currency I could hold to avoid this whole mess. But call it what it is... a currency war, and in every currency war that has occured in this country's history, the US Dollar has never lost.
The US dollar will die someday, but not because some other currency beat it. It will die because of its systemic fault. It requires infinite growth in a world of limits. Bitcoin will be killed well before that every happens.
Jojo the circus boy
Footballguy
And your point being?He doesn't have any, so storage is not a problem for him.So where do the half-brained like yourself store your bitcoin?
Jojo the circus boy
Footballguy
Open source code, duh.What piece of technology do you think the NSA couldn't do this too? It was revealed they are doing this to computer hardware."The documents suggest that the NSA needs physical access to a device to install the spywaresomething the agency has achieved by rerouting shipments of devices purchased onlinebut a remote version of the exploit is also in the works.""The documents suggest that the NSA needs physical access to a device to install the spyware"
http://www.dailydot.com/politics/nsa-backdoor-iphone-access-camera-mic-appelbaum/
Icon, I know you are 1 of the biggest Apple fan boys here, but common, they aren't open source so who knows what kind of devious back doors are installed, ripe for hackers to exploit??
The fact that there are backdoors embedded in Apple software means it has a vulnerability to hackers.
Jojo the circus boy
Footballguy
All governments including the U.S. are shady and have a history of screwing over their people through corrupt policies?
So you admit Bitcoin is:A) A currency
B) A digital one and the first at that
C) It must fail since all of the other digital currencies prior to it has failed (which you just stated there were none), so you are basing this failure on what? It can't be history because it sets a new precedent.
You and I agree Bitcoin will not be the magic pill that will replace the U.S. Dollar in the near term. It doesn't mean it can't be used as a short term solution for people living in other countries to hedge their bets with their country's currency which could be under much more volatile pressure. Emphasis on short-term, they can easily move their assets to bitcoin and then to another currency much easier than any other intermediary solutions - provided their country does not somehow block this from happening since they see Bitcoin as a threat.
Hey, it's all transaction malleability these days. Do you need a refresher course?
Good to know that the "design" issue has largely been ignored so that someone can alter a transaction to look like it didn't happen and thus more bitcoins are resent. LOL, sorry man, the credit card didn't swipe, let's try it again and oh, by the way, there is nothing you can do about it after the fact.
Jojo the circus boy
Footballguy
Transaction malleability is nothing new, you act like you have a clue what you are talking about and then you copy and paste a statement from Mt.Gox which has recently been delisted by CoinDesk due to its persistent failure to meet the Index's standards for inclusion after they announced they are suspending withdrawals indefinitely. "Indefinitely" until they fix a flaw in their handling of unconfirmed transactions.
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Insoxicated
SacramentoBob
Footballguy
I have to admit that I'm surprised that a currency based around hiring hitmen and buying meth isn't more popular.
Politician Spock
Footballguy
yesJojo the circus boy said:
Maelstrom
Footballguy
fantasycurse42
Footballguy Jr.
Mtgox.com last $558... That's a solid 45% less than a month ago...
Wonder how it's working out for O.co?
Wonder how it's working out for O.co?
Jojo the circus boy
Footballguy
LOL, still an ### as always. Did you read this link before you responded? http://qz.com/175565/why-nobody-can-withdraw-bitcoins-from-one-of-the-currencys-largest-exchanges/ About halfway down is the title of a section "Transaction malleability is nothing new."Jojo the circus boy said:
Awesomeness, so to you this is no big deal? Wasn't Mt. Gox before 2014 the largest bitcoin exchange? So, if NASQDAQ or NYSE got shutdown and "delisted" from selling stocks, you wouldn't think that was a big deal? OK, have fun with that.
Also, why so angry? I was really just joking about transaction malleability with the Fletch quote at the top. I figured as the smartest human on the planet, you would have recognized that. Lighten up Francis. I am almost thinking that maybe you decided to finally dive into some bitcoins right before the crash. I know you would never admit to a gaff that bad, but damn that would be ironic and funny, well at least to some of us.
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Jojo the circus boy
Footballguy
" post="16519797" timestamp="1392132201"]I see Mt Gox was able to get their website back online
Have they started letting people withdraw their money yet? First thing I look for in a legit "financial institution" is one that locks people out of their accounts at the first sign of trouble.
I'm wondering if CampBX is going to build in functionality to shut down when the price is collapsing.
Jojo the circus boy
Footballguy
It's a good thing that the ones that own all the bitcoin can fix the price so this will never be a problem.
Price is already back up into the $700 range.
Explanation for the noobs to understand what happened at MtGox
LOL, up late working. Just laughing at you.
Jojo the circus boy
Footballguy
That's even more embarrassing, I feel sorry for you.
