Bitcoins - anyone else mining? (1 Viewer)

[Maelstrom]

Mt. Gox bankrupt, sued.

pretty sure some people are going to jail.

Why, it's not regulated at all. That is a feature. If you don't want to lose your coins, you shouldn't have them on the 'net. In fact, you shouldn't even store them in a wallet on a machine that has ever been connected.

 

[Gawain]

Mt. Gox bankrupt, sued.

pretty sure some people are going to jail.

Why, it's not regulated at all. That is a feature. If you don't want to lose your coins, you shouldn't have them on the 'net. In fact, you shouldn't even store them in a wallet on a machine that has ever been connected.

If I steal a bunch of blow from you, I can still be arrested for theft.

 

[TxBuckeye]

Mt. Gox bankrupt, sued.

pretty sure some people are going to jail.

Why, it's not regulated at all. That is a feature. If you don't want to lose your coins, you shouldn't have them on the 'net. In fact, you shouldn't even store them in a wallet on a machine that has ever been connected.

If I steal a bunch of blow from you, I can still be arrested for theft.

Blow exists. Bitcoins are virtual. Not sure if that makes a difference. Just saying, you can put one before the judge. The other, you have to convince him it exists.

 

[DrJ]

Mt. Gox bankrupt, sued.

pretty sure some people are going to jail.

Why, it's not regulated at all. That is a feature. If you don't want to lose your coins, you shouldn't have them on the 'net. In fact, you shouldn't even store them in a wallet on a machine that has ever been connected.

If I steal a bunch of blow from you, I can still be arrested for theft.

Blow exists. Bitcoins are virtual. Not sure if that makes a difference. Just saying, you can put one before the judge. The other, you have to convince him it exists.

The judge would have to admit that he doesn't know what the block chain is, which would be prohibitively embarrassing.

 

[-fish-]

Mt. Gox bankrupt, sued.

pretty sure some people are going to jail.

Why, it's not regulated at all. That is a feature. If you don't want to lose your coins, you shouldn't have them on the 'net. In fact, you shouldn't even store them in a wallet on a machine that has ever been connected.

If I steal a bunch of blow from you, I can still be arrested for theft.

Blow exists. Bitcoins are virtual. Not sure if that makes a difference. Just saying, you can put one before the judge. The other, you have to convince him it exists.

If I convince you to pay me $1.5 million for my pet unicorn and I take your money and try to disappear, I'm still subject to going to jail for fraud, racketeering, wire fraud, theft and a host of other things.

 

[phrozen]

Mt. Gox bankrupt, sued.

oops, Gox

 

[Jojo the circus boy]

Serious question. Where can you actually use bitcoin as a way to procure goods and/or services? It seems like the people who are currently investing in it aren't really looking at it as an alternative form of currency but rather at a speculative investment opportunity. Everything I've been reading about it seems to indicate that there has been a lot of hoarding of bitcoin from the early adopters but aside from some of the illegal activities do any of these people actually use bitcoin for what its original intent was?

Listen to the talk I posted:

https://www.youtube.com/watch?v=wzwWIDIVSTo&n=1

Andreas Antonopoulos gets paid in Bitcoin and uses it everyday to book hotels, purchase flights etc...

For those comparing MtG to Fischer Price toys, you obviously have never played the game. It is much closer to chess then it is to playing with plastic bicycles that is why Spock's comparison was laughable at best.

Currently working on a $7MM cryptocurrency trading platform on this dead technology.

This thread has turned into a haven for those that fear the unknown or are jealous of not getting rich quick by investing early. I can't help you, no matter what I post I am not going to change your opinion, you will continue to hope for it to fail and the circle jerk will keep stroking each other's ego. Mt.Gox <> Bitcoin. But keep on believing

 

[Banger]

Serious question. Where can you actually use bitcoin as a way to procure goods and/or services? It seems like the people who are currently investing in it aren't really looking at it as an alternative form of currency but rather at a speculative investment opportunity. Everything I've been reading about it seems to indicate that there has been a lot of hoarding of bitcoin from the early adopters but aside from some of the illegal activities do any of these people actually use bitcoin for what its original intent was?

Listen to the talk I posted:

I listened to some of it and one of the things I took out of it was when they were talking about Mt Gox and the fact that it failed proved that the system works. That companies with bad programmers should fail and that only the strongest companies with the best practices should thrive. It also worked because there is no bailout and that this is capitalism at its finest.

Without inspecting someone's servers and being a computer genius how the hell are you supposed to know how the company you're buying/holding this imaginary currency is actually doing what they and that they aren't a bunch of cyber thieves looking to steal your money. Bit coin won't disappear but it won't evolve to more than a fringe "currency".

 

[Tom Servo]

.

Thanks for proving my point Time to shut this place down.Well, "Paulymaggs", how do you define dumb? I got 1 wrong on the math portion back when I took the SAT back in high school and got a full ride to college. Am I smarter than you? I'm sorry you are jealous of my success, but keep on stroking that circlejerk ego, I'm sure that will pay dividends for you.

I'm of the opinion that until you buy a few of these to where you have skin in the game you should shut the heck up.

 

[TxBuckeye]

Okay, now I am having problems keeping up. So finding a true get rich quick scheme where it is a requirement to get in on the ground floor to be successful, and not actually investing in it, is success?



I almost hope someone hacked in to JoJo's account, because the last few posts are so juvenile, it's actually sort of sad.

 

[[icon]]

Okay... So people who didn't invest in magic the gathering dollars are now "dumb, afraid and jealous of jojo"

Just trying to make sure I catalog the full spectrum of my failings as a human.

 

[stbugs]

Okay... So people who didn't invest in magic the gathering dollars are now "dumb, afraid and jealous of jojo"

Just trying to make sure I catalog the full spectrum of my failings as a human.

Yep, we all must bow to Jojo. He says he got a full ride and 1 question wrong on the Math SAT, so that's it. You just suck.

I know I have let my jealousy cloud my judgement in here. I see the light now. This brilliant hunk of a man decided he was too smart to make easy money. It really is nice to see the best people on earth taking the hard road and earning their stripes like real men.

 

[Maelstrom]

I kinda wish JoJo would give us more information about what he is working on as it relates to BitCoin. Maybe we can be his beta-testers if it is a B-C type company.

And guys that say JoJo has no skin in the game, well, I pretty sure from earlier posting he is working with a company on BC related business, so he very well may have considerable skin in whether BitCoins succeed or fail, regardless of whether he owns any BC personally.

That said, JoJo, you don't do yourself any favors by consistently assuming people critical of BC or related business like MtGox are either jealous or bitter.

 

[identikit]

Jo Jo's bitcoin website offline:

https://campbx.com/register.php?r=CmLLlWlq4Ve



ETA It's up again now, and open for business.

 

[Das Boot]

I kinda wish JoJo would give us more information about what he is working on as it relates to BitCoin. Maybe we can be his beta-testers if it is a B-C type company.

And guys that say JoJo has no skin in the game, well, I pretty sure from earlier posting he is working with a company on BC related business, so he very well may have considerable skin in whether BitCoins succeed or fail, regardless of whether he owns any BC personally.

That said, JoJo, you don't do yourself any favors by consistently assuming people critical of BC or related business like MtGox are either jealous or bitter.

Totally agree with both statements, anyone involved in a BC business has plenty of skin in the game.

And JoJo would do himself a huge favor by rising above the petty comments and working instead on addressing the legit concerns raised by some here.

 

[Das Boot]

Also, sorry to hear about your health issues JoJo, I hope you're doing better now.

 

[Politician Spock]

For those comparing MtG to Fischer Price toys, you obviously have never played the game. It is much closer to chess then it is to playing with plastic bicycles that is why Spock's comparison was laughable at best.

LINK

 

[Rohn Jambo]

Okay... So people who didn't invest in magic the gathering dollars are now "dumb, afraid and jealous of jojo"

Just trying to make sure I catalog the full spectrum of my failings as a human.

Yep, we all must bow to Jojo. He says he got a full ride and 1 question wrong on the Math SAT, so that's it. You just suck.I know I have let my jealousy cloud my judgement in here. I see the light now. This brilliant hunk of a man decided he was too smart to make easy money. It really is nice to see the best people on earth taking the hard road and earning their stripes like real men.

It goes to show that applying math in real life is overrated. Bitcoin: 1+ 1 = 0

 

[culdeus]

But the BLOCKCHAINS!!!!!!!!!!!1

 

[Rohn Jambo]

Jojo is "exactly the kind of person to whom, if he fell overboard, one would hold out a straw, to know if the adage be true that drowning men catch at straws."

 

[Gawain]

Wish I had invested in Unlimited Black Lotuses back about 1995.

 

[Maelstrom]

Interesting article about the MtGox, and why the author does not believe it had anything to do with transaction malleability as claimed.

http://hackingdistributed.com/2014/03/01/what-did-not-happen-at-mtgox/

I particularly like the conclusion:

If one must pick a cryptocurrency, the lowly dogecoin, of all things, is doing everything right. It's based on economic principles that provide the right incentives for a healthy economy. The community does not take itself seriously. Most importantly, no one pretends that Doge is an investment vehicle, a slayer of Wall Street, or the next Segway. No one would be stupid enough to store their life savings in Dogecoins. And people freely share the shiba goodness by tipping others with Doge. So, young people who are excited about cryptocurrencies and want to get involved: Dogecoin is where the action is at. Much community. So wow.

 

[[icon]]

Jo Jo's bitcoin website offline:

https://campbx.com/register.php?r=CmLLlWlq4Ve



ETA It's up again now, and open for business.

Wait...really?!

If so then BAD NEWS JoJo?

 

[cstu]

Interesting article about the MtGox, and why the author does not believe it had anything to do with transaction malleability as claimed.

http://hackingdistributed.com/2014/03/01/what-did-not-happen-at-mtgox/

I particularly like the conclusion:

If one must pick a cryptocurrency, the lowly dogecoin, of all things, is doing everything right. It's based on economic principles that provide the right incentives for a healthy economy. The community does not take itself seriously. Most importantly, no one pretends that Doge is an investment vehicle, a slayer of Wall Street, or the next Segway. No one would be stupid enough to store their life savings in Dogecoins. And people freely share the shiba goodness by tipping others with Doge. So, young people who are excited about cryptocurrencies and want to get involved: Dogecoin is where the action is at. Much community. So wow.

Ok, but can I buy drugs with it?

 

[Maelstrom]

Jo Jo's bitcoin website offline:

https://campbx.com/register.php?r=CmLLlWlq4Ve



ETA It's up again now, and open for business.

Wait...really?!

If so then BAD NEWS JoJo?

If they are the #1 by volume trading platform in the US, they really should update their website to reflect that. Jojo, I'm being perfectly sincere, if that IS your site, let me know privately if you have any questions about why it needs some tweaking.

 

[Maelstrom]

Interesting article about the MtGox, and why the author does not believe it had anything to do with transaction malleability as claimed.

http://hackingdistributed.com/2014/03/01/what-did-not-happen-at-mtgox/

I particularly like the conclusion:

If one must pick a cryptocurrency, the lowly dogecoin, of all things, is doing everything right. It's based on economic principles that provide the right incentives for a healthy economy. The community does not take itself seriously. Most importantly, no one pretends that Doge is an investment vehicle, a slayer of Wall Street, or the next Segway. No one would be stupid enough to store their life savings in Dogecoins. And people freely share the shiba goodness by tipping others with Doge. So, young people who are excited about cryptocurrencies and want to get involved: Dogecoin is where the action is at. Much community. So wow.

Ok, but can I buy drugs with it?

You probably could, it has the same kind of pseudo-anonymity that all of the other crypto-currencies have. People say that the Bitcoin community was like the Dogecoin one when it was younger (and there was less money in it) but I remember looking into Bitcoin in the early days, 2010ish, before it shot up in 2011 and I don't remember the same kind of attitude. It always seemed a bit more reserved than what the Dogecoin community seems.

 

[stbugs]

Jo Jo's bitcoin website offline:

https://campbx.com/register.php?r=CmLLlWlq4Ve



ETA It's up again now, and open for business.

Wait...really?!

If so then BAD NEWS JoJo?

If they are the #1 by volume trading platform in the US, they really should update their website to reflect that. Jojo, I'm being perfectly sincere, if that IS your site, let me know privately if you have any questions about why it needs some tweaking.

According to Jojo's URL (LINK), it isn't even close to the #1 by volume. In the past 30 days, they are around 7000 bitcoins, which is about 0.8% of the new #1 volume bitcoin market. In fact, even being closed for the last 6 days, Mt. Gox is still the #1 volume for the past 30 days by 15%. I compared Jojo's volume to the #1 active site.

 

[Wilfredo Ledezma]

Mt. Gox bankrupt, sued.

pretty sure some people are going to jail.

Too bad they weren't a bank, then no one does time. They'd have gotten a bailout and nice severance too.

 

[Wilfredo Ledezma]

Mt. Gox bankrupt, sued.

pretty sure some people are going to jail.

Why, it's not regulated at all. That is a feature. If you don't want to lose your coins, you shouldn't have them on the 'net. In fact, you shouldn't even store them in a wallet on a machine that has ever been connected.

If I steal a bunch of blow from you, I can still be arrested for theft.

I don't think that's true. You could be charged with other crimes though.

 

[NCCommish]

Serious question. Where can you actually use bitcoin as a way to procure goods and/or services? It seems like the people who are currently investing in it aren't really looking at it as an alternative form of currency but rather at a speculative investment opportunity. Everything I've been reading about it seems to indicate that there has been a lot of hoarding of bitcoin from the early adopters but aside from some of the illegal activities do any of these people actually use bitcoin for what its original intent was?

Listen to the talk I posted:

https://www.youtube.com/watch?v=wzwWIDIVSTo&n=1

Andreas Antonopoulos gets paid in Bitcoin and uses it everyday to book hotels, purchase flights etc...

For those comparing MtG to Fischer Price toys, you obviously have never played the game. It is much closer to chess then it is to playing with plastic bicycles that is why Spock's comparison was laughable at best.

Currently working on a $7MM cryptocurrency trading platform on this dead technology.

This thread has turned into a haven for those that fear the unknown or are jealous of not getting rich quick by investing early. I can't help you, no matter what I post I am not going to change your opinion, you will continue to hope for it to fail and the circle jerk will keep stroking each other's ego. Mt.Gox <> Bitcoin. But keep on believing

 

[Slapdash]

.

Thanks for proving my point Time to shut this place down.Well, "Paulymaggs", how do you define dumb? I got 1 wrong on the math portion back when I took the SAT back in high school and got a full ride to college. Am I smarter than you? I'm sorry you are jealous of my success, but keep on stroking that circlejerk ego, I'm sure that will pay dividends for you.

Did you also win "Boy of the Year"?

 

[NCCommish]

.

Thanks for proving my point Time to shut this place down.Well, "Paulymaggs", how do you define dumb? I got 1 wrong on the math portion back when I took the SAT back in high school and got a full ride to college. Am I smarter than you? I'm sorry you are jealous of my success, but keep on stroking that circlejerk ego, I'm sure that will pay dividends for you.

Did you also win "Boy of the Year"?

We already got one of those.

 

[Franknbeans]

Buffett: Bitcoin 'isn't a currency'

In response to a question, Buffett said bitcoin "isn't a currency" and he "wouldn't be surprised" if it's not around in 10 or 20 years. Since the price keeps moving around so dramatically, "it's very speculative, a Buck Rogers kind of thing" like the Dutch tulip mania in 1637.

 

[Slapdash]

Buffett: Bitcoin 'isn't a currency'

In response to a question, Buffett said bitcoin "isn't a currency" and he "wouldn't be surprised" if it's not around in 10 or 20 years. Since the price keeps moving around so dramatically, "it's very speculative, a Buck Rogers kind of thing" like the Dutch tulip mania in 1637.

Buffett is obviously a moron, he needs accquire tulips in a risk-free manner.

 

[[icon]]

Ramping up my mining operations

 

[Politician Spock]

Ramping up my mining operations

You're not using the right tool.

 

[[icon]]

Ramping up my mining operations

You're not using the right tool.

Good Call!

 

[Slapdash]

Flexcoin joins Mt. Gox as another undercapitlized exchange failing.

 

[Slapdash]

Did anyone watch Archer last night? Kreiger created his own version of bitcoin called Kreigerants to sell cocaine

 

[Juxtatarot]

Ramping up my mining operations

You're not using the right tool.

Good Call!

Actually, I think this is the proper play.

 

[Politician Spock]

Flexcoin joins Mt. Gox as another undercapitlized exchange failing.

Link

 

[Banger]

http://www.theguardian.com/technology/2014/mar/04/bitcoin-bank-flexcoin-closes-after-hack-attack

this stuff is great....these guys out there are too good and too relentless...the most secure form of payment is having it's problems lately....

their tweet last week after the Mt. Gox issue is classic...

flexcoin @flexcoin Follow

We hold zero coins in other companies, exchanges etc. While the MtGox closure is unfortunate, we at Flexcoin have not lost anything.

11:52 AM - 25 Feb 2014

 

[Osaurus]

Tulip mining is going to explode now

 

[Banger]

bitcoins are safe if you keep them on an unplugged computer in your basement far away from the internet...if it's connected to the net there's a high probability that it's hacked by unknown assailants and you lose all your money. Sounds like a useful currency.

 

[stbugs]

Paging Dr J. What is amazing to me with the largest exchange blowing up and a Bitcoin bank going belly up and that other exchange in the link above also saying it lost 12+% of its bitcoins is that the prices have gone up in the past week since Mt Gox went under. That would be akin to stocks on the Nasdaq going up after the NYSE closed and the German Dax saying 12% of its stocks are gone.

If ever there was price manipulation by the largest bitcoin owners, this would 100% prove that they are doing it IMHO. If you own thousands and thousands of bitcoins, selling a handful amongst each other to keep it from crashing would be a wise move and seeing as how there is little to no security unless they are in cold storage (a great term by the way, might as well say it is on paper).

 

[Banger]

Paging Dr J. What is amazing to me with the largest exchange blowing up and a Bitcoin bank going belly up and that other exchange in the link above also saying it lost 12+% of its bitcoins is that the prices have gone up in the past week since Mt Gox went under. That would be akin to stocks on the Nasdaq going up after the NYSE closed and the German Dax saying 12% of its stocks are gone.

If ever there was price manipulation by the largest bitcoin owners, this would 100% prove that they are doing it IMHO. If you own thousands and thousands of bitcoins, selling a handful amongst each other to keep it from crashing would be a wise move and seeing as how there is little to no security unless they are in cold storage (a great term by the way, might as well say it is on paper).

there's no regulatory authority so they can do whatever they want manipulation wise. I know for a fact that if I had $500 worth of bitcoin I'd be selling it.

 

[NCCommish]

Paging Dr J. What is amazing to me with the largest exchange blowing up and a Bitcoin bank going belly up and that other exchange in the link above also saying it lost 12+% of its bitcoins is that the prices have gone up in the past week since Mt Gox went under. That would be akin to stocks on the Nasdaq going up after the NYSE closed and the German Dax saying 12% of its stocks are gone.

If ever there was price manipulation by the largest bitcoin owners, this would 100% prove that they are doing it IMHO. If you own thousands and thousands of bitcoins, selling a handful amongst each other to keep it from crashing would be a wise move and seeing as how there is little to no security unless they are in cold storage (a great term by the way, might as well say it is on paper).

Once the guys with the big bucks have the price high enough they are going to unload them on the rubes and get rich. The rubes won't be so lucky. Tulip bulbs bankrupted some of the richest families in Europe. Same thing new day.

 

[stbugs]

Paging Dr J. What is amazing to me with the largest exchange blowing up and a Bitcoin bank going belly up and that other exchange in the link above also saying it lost 12+% of its bitcoins is that the prices have gone up in the past week since Mt Gox went under. That would be akin to stocks on the Nasdaq going up after the NYSE closed and the German Dax saying 12% of its stocks are gone.

If ever there was price manipulation by the largest bitcoin owners, this would 100% prove that they are doing it IMHO. If you own thousands and thousands of bitcoins, selling a handful amongst each other to keep it from crashing would be a wise move and seeing as how there is little to no security unless they are in cold storage (a great term by the way, might as well say it is on paper).

there's no regulatory authority so they can do whatever they want manipulation wise. I know for a fact that if I had $500 worth of bitcoin I'd be selling it.

Right, but the early folks have a lot more than $500 worth. That said, like Bill Gates, they can't exactly sell 40% of Microsoft in one day without it tanking. If I had a low enough amount, I am out. If I am one of the folks on the Bitcoin Foundation (whatever that one is that the CEO of Mt Gox resigned from) who probably have $millions in bitcoins, I am "trading" some with other people like me to hope we can ride out the storm. Then we use people like Jojo to keep on cheerleading about how the price hasn't plummeted so Mt Gox really wasn't important to bitcoin even if it was the largest exchange by far. If it was regulated, the price would be a heck of a lot lower. The #### has hit the fan and the prices have gone up? I am waiting for Baghdad Bob to show up as the bitcoin PR guy.

 

[Banger]

Paging Dr J. What is amazing to me with the largest exchange blowing up and a Bitcoin bank going belly up and that other exchange in the link above also saying it lost 12+% of its bitcoins is that the prices have gone up in the past week since Mt Gox went under. That would be akin to stocks on the Nasdaq going up after the NYSE closed and the German Dax saying 12% of its stocks are gone.

If ever there was price manipulation by the largest bitcoin owners, this would 100% prove that they are doing it IMHO. If you own thousands and thousands of bitcoins, selling a handful amongst each other to keep it from crashing would be a wise move and seeing as how there is little to no security unless they are in cold storage (a great term by the way, might as well say it is on paper).

there's no regulatory authority so they can do whatever they want manipulation wise. I know for a fact that if I had $500 worth of bitcoin I'd be selling it.

Right, but the early folks have a lot more than $500 worth. That said, like Bill Gates, they can't exactly sell 40% of Microsoft in one day without it tanking. If I had a low enough amount, I am out. If I am one of the folks on the Bitcoin Foundation (whatever that one is that the CEO of Mt Gox resigned from) who probably have $millions in bitcoins, I am "trading" some with other people like me to hope we can ride out the storm. Then we use people like Jojo to keep on cheerleading about how the price hasn't plummeted so Mt Gox really wasn't important to bitcoin even if it was the largest exchange by far. If it was regulated, the price would be a heck of a lot lower. The #### has hit the fan and the prices have gone up? I am waiting for Baghdad Bob to show up as the bitcoin PR guy.

I wonder if he posts another link explaining how these additional thefts/hacks are also good for bitcoin because it's exposing the exchanges and banks that don't have the experience or technology and they were rightly put out of business. There's also no bailout or insurance as this is capitalism at its finest...a true electronic world currency created by hackers with nothing backing it... what could possibly go wrong. But if you have the bitcoin in your mattress, I mean cold storage, you should be fine.

 

[Bob Magaw]

Autumn Radtke, CEO of bitcoin/virtual currency exchange First Meta was found dead under what is being called mysterious circumstances.

http://www.nbcnews.com/business/business-news/head-online-currency-exchange-found-dead-singapore-n45101