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Paradox Personified posted:This is sadly hilarious. Oh hey, why won't this company take my Bitcoins as payment for a computer...
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May 23, 2011 22:03
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randombattle posted:Isn't it a terrible idea to have a currency where anyone at all can make more of it out of literal nothingness? The best part about Bitcoins is that it is just as much a fiat currency as anything else, but instead of being given to banks or whatever it basically ends up randomly appearing in the hands of a Bitcoin user. I'd say it's just dumb libertarians who want free money, but it's actually dumb libertarians spending a bunch of money on computer parts to race against other dumb libertarians for 'free' money.
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May 23, 2011 22:47
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I would love to see the looks on people's faces when someone explains their Bitcoin hobby http://www.youtube.com/watch?v=G5f_e4P6gMA edit: holy poo poo, this guy too: http://www.youtube.com/watch?v=FThX1cDg-tg&feature=related
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May 23, 2011 22:56
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Archer666 posted:Wait, this is confusing me. I can generate non existant money, and trade it with some idiot for real money? Is that what's happening? IIRC when I last read about this, you have to have some pretty hefty computer hardware to make it near profitable, mining doesn't guarantee money, profitability mostly depends on the market, which fluctuates heavily every few hours, and due to the increasing complexity of the required calculations it is much more likely that you will waste a lot of real money getting involved and have a rough time just breaking even. But you may get lucky and be able to stick it to THE FED.
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May 23, 2011 23:06
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Stephen Harper posted:Couldn't some of these people get in tax trouble for profiting off of BitCoin? Since there is an overwhelming chance that none of them are reporting any of the money they earn from mining and selling, I'd imagine that they could get in a lot of trouble for tax evasion if caught. Which would cause the best meltdown on their forums after the first one got caught. "Is a man not entitled to the sweat caused by the banks of videocards in his bedroom?"
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May 23, 2011 23:17
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Shasta Orange Soda posted:Why yes, my kitchen does generate as much white noise as a data center and is 20 degrees hotter than the rest of the house, but it will be a blessing come winter (assuming I survive the inevitable drug raid). Can I borrow a couple grand for my electricity bill? Supposedly that's happening too: http://esspe.net/bitcoins-and-weed
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May 23, 2011 23:18
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slothgirl posted:I was sitting here reading this, and I caught myself thinking 'drat, i wish i'd known about this earlier, so i could get in before the pyramid got too big'. I'm pretty sure that their community is split between True Believers and the people who see the bubble as a chance to make some easy money off other's bad decisions. Basically, the people who actually see Bitcoins as viable money A) Think their capped fiat currency isn't fiat B) Hope this gets big and all the coins they saved up from the beginning will make them an internet billionaire Really, it seems like they see this as a way of being the e-gold equivalent of being born into money.
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May 24, 2011 20:04
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Baddog posted:This looks like the place to do it, no one else has any volume. It is: A) Been subject to successful attacks before B) Automatically placed into the hands of the people running server farms C) Highly deflationary D) Has bubbles. minor ones every day E) Is run by amateurs I mean seriously, what is there to stop me from setting up a ton of bots on Mt Gox and the other Bitcoin exchanges, have them spew out a bunch of fake/corrupt sell orders, and either crashing the exchanges or buying up a shitload of coins at a low price and then re-selling them as the dumb speculators make the price rebound?
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May 25, 2011 00:28
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The Brown Menace posted:Yeah I'm sure people who have hoarded loads of Bitcoins will foster the market and nurture it like a growing plant rather than cash out and go on a dork dollar cruise, because if history is any indication, that's what happens. Fiscal libertarians are known for valuing their ideals over any amount of money.
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May 25, 2011 02:31
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Inept posted:Too bad he'll probably hold on to them until they're worthless. Why be a real millionaire today when you could be an internet trillionaire tomorrow?
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Jun 2, 2011 16:13
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Loonytoad Quack posted:What the hell happened at 6am (BST) to cause this stupid scam of a currency to shoot up in value by almost 50%? The swing today is mental: Bitcoin pump-and-dumpers posting articles to more news sites, also word about that BTC-only drug site got out.
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Jun 3, 2011 14:33
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50 cent increase since I first opened this page and mtgox and when I refreshed mtgox after getting to the bottom of the page. Kinda upset I missed out on a few quick bucks off some speculators, but not really since I'm a gambler and would let that poo poo ride until the minute after everyone decides to sell at once.
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Jun 8, 2011 15:25
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At this point, I doubt nearly anyone is use BitCoins for services of any type and it has completely turned into a Wall Street-style game of chicken with the markets.
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Jun 8, 2011 15:33
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Pedrophile posted:The best way to cash out a winner is to convince your friends and family to buy the currency and put dollars into the market that you then take when you decide to cash out and sell all your bitcoins. You joke, but glance through reddit or something for a bit and notice how many of them are recommending it to family and friends, and then a minute later posting how much money they think they have in USD.
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Jun 8, 2011 15:56
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UrbanFarmer posted:I've been big on Bitcoin since I first heard about them at $1.00. I've had nothing but positive remarks about them. It was EASY to see that this was going to happen. It's EASY to see that there is going to be tremendous growth in the bitcoin ecosystem moving forward. Ground floor may have been when the prices were still modest and you could trade your fake money for shared web hosting. Exponential increase in 'value' over the course of a few days isn't ground floor anymore.
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Jun 8, 2011 18:06
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Drone_Fragger posted:http://forum.bitcoin.org/index.php?topic=13623.0 Someone has a moment of sanity and points out that this is loving absurd and theres no way this is permanant, and everyone just laughs at him and tells him to look at the same graph except using a log of both axes, which proves exactly the same fuckin point except in a more difficult way for idiots to understand it. That thread is fantastic. "You think that this is going to crash? What about oil? Oil has crashed! What is your point?" "That was my point." "You are still wrong" Also this quote: quote:The bitcoin economy is not going to crash. Bitcoin has no natural predators. It will out-breed any native currency. What is going to crash is the global economy. The fractional reserve system will either unwind, causing a deflationary death-spiral or eventually hyper-inflate. What will replace the Dollar as the world reserve currency? IMF special drawing rights? please. the Euro? two years from now there won't even be a Euro. Chuinese Yuan (renmimbi)? China is headed for a lost decade or two because they are following the same disasterous neo-mercantilist policies as Japan did. i remember the fear and panic in the 1980-s when we were afraid Japan would take over the world economically. They didn't and China won't and for the same reason. What's left? gold and Bitcoin, mostly.
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Jun 9, 2011 15:15
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Shasta Orange Soda posted:http://www.bitcoinminingaccidents.com/ Maybe these guys should create a bitminers union and lobby for safer mining conditions
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Jun 10, 2011 17:03
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What am I supposed to do with 10 Radeon 6850s now????
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Jun 10, 2011 21:32
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Even the original miners have been cashing out as fast as possible: http://news.ycombinator.com/item?id=2632671 Congrats on donating to this guy's start-up, Bitcoiners Some of these BitCoin guys have some great ideas for start-ups though : http://www.bitrific.com/2011/05/summery-simple-startup-idea-employing.html
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Jun 10, 2011 21:51
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WOOHOO, ride that coaster!
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Jun 12, 2011 08:42
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nebby posted:this poo poo is just noise. anyone who can somehow extract prices out of mt. gox's lovely PHP script fast enough is probably microtrading a small fortune. Parsing that poo poo is fast and easy - it's just JSON data. Getting the data in a timely manner when all the bitcoiners are trying to cash out at the same time? Different story
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Jun 12, 2011 09:14
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TC_ posted:Edit - Can someone explain exactly how MTG controls this? Almost everyone, regardless of whether they are trading on mtgox or not, pegs the price of their bitcoins near mtgox's current price.
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Jun 13, 2011 00:01
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I was gonna go screenshotting, but this whole thread is :redditsay: as gently caress -http://www.reddit.com/r/Bitcoin/comments/hyerl/the_primary_reason_people_cant_understand_bitcoin/ Starts out with someone calling the OP out, typical bitcoin dogpile follows. fake edit - nvm, one screenshot of OP: 
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Jun 13, 2011 18:32
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Justice posted:Thanks to this thread, I now know that people use the word 'meatspace' repeatedly and without irony. poo poo, I was just about to post this. I'm assuming all these nerds think they are living out all their favorite cyberpunk fantasies, imagining that they are dodging in and out of meatspace and cyberspace to avoid the black helicopters of the lizard people who run the FED.
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Jun 14, 2011 00:27
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Devian666 posted:Anon are going to attack the Federal Reserve and accept donations in bitcoins. Those dinosaurs will be laughing at us from orbit. Sounds more like a scam to get Bitcoin donations A) They are announcing their attack before they do it B) Picking a target the bitcoiners hate C) Didn't Anonymous just attack bitcoin infrastructure?
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Jun 14, 2011 03:21
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Nibiru posted:True, although most of those ebay auctions are for the coins, which are worth whatever the silver bullion in them is + collector value. Yeah but who would wanna melt this down? 
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Jun 15, 2011 17:04
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Sten Freak posted:I agree. Mine, buy, or sell, no one is scamming anyone. A commodity has been assigned a value by those participating in the exchange. When has pumping and dumping not been a scam? The Bitcoin community has been going out in full force, publishing positive articles about a clearly flawed currency all over the web, and then joining in on the speculation to makes some USD.
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Jun 17, 2011 19:26
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 This is all just too good
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Jun 20, 2011 00:01
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Got my ban too. Also, it's not Mount Gox
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Jun 20, 2011 19:52
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Cao Ni Ma posted:Maybe watch for an opened box deal from newegg if the whole return thing is real. If the market crashes hard by the end of this weak though and newegg starts tightening up on returns then you can probably scan ebay for cheap cards. You area also supposing they weren't overclocking the cards to get those extra few hashes out of it. I'm beginning to the the second-hand cards maybe be a bit of a gamgle. If these people can't properly ventilate a room to keep themselves from getting brain damage, there is a good chance they can't get proper cooling to a videocard to prevent the solder from getting back.
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Jun 20, 2011 21:39
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Not just slim jims, but a currency backed completely by dried meat? http://bitjerky.com/
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Jun 20, 2011 21:47
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dipwood posted:We can use my old domain GokuShrine.net where we exchanged our favorite pics of Goku for Gokubux, the interface is perfect to store tens of millions of dollars. You know two nerds had this exact discussion years ago
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Jun 21, 2011 00:10
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Angela Christine posted:Transparency. They have nothing to hide. Not even large, gross bellies
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Jun 21, 2011 08:26
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TheBandOffice posted:Atlas reaches out to the bitcoin community for help: Poor kid is actually crazy and needs someone to help him out, and he is turning to the worst loving people for that help
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Jun 21, 2011 16:09
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dietcokefiend posted:2. Since we are seeing bitcoin jump through the past few generations of money in a matter of days, if the system doesn't implode could it actually end up growing or stabilizing into some oddball advanced currency? Is that even possible? Or is it that bitcoin only has one path to take, the end is "failure" and its just playing in fast forward up until that point? Even if they had every regulation in place, it still has other flaws, like being deflationary and non-reversible. The only time bitcoins will be "stable" is when the number of users drops very low
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Jun 21, 2011 17:27
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saintonan posted:MTGOX now has a claim process in place at https://claim.mtgox.com . An email address is required to reclaim an account, and apparently you can try to claim anyone's account. Fun! This just doesn't loving stop Holy poo poo
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Jun 21, 2011 18:49
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Xenomorph posted:That MtGox recovery kept telling me my password was invalid - but when I put in just the first 8 characters, it accepted that. Now I'm left wondering if I wrote down the wrong password, or was really using a shorter password than I remember. Theres a good chance that mtgox only accepts the first 8 characters of any password, which would be even more hilarious Senor Tron posted:On OpenDiary back in the day (shut up) it was actually a feature of the site that only the first 8 characters of your password mattered. Given this is an older site it's entirely possible they were stupid enough to do something like that here. I think this phenomenon was fairly common across some kind of login system years ago, digging for old articles now.
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Jun 21, 2011 18:51
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hahaha holy hell this is amazing The bitcoin tech support show
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Jun 21, 2011 20:51
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Either these guys are terribly stupid, or brilliant trolls, and I'm really can't figure out which now.
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Jun 21, 2011 20:56
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Brucie has written a book, huh?
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Jun 21, 2011 21:00
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