Discendo Vox posted:

has anyone said "bonecoin, the crypt-o-currency"?

...! posted:

pitbull more like pitcoin

Boxturret posted:

it was such a good defence: a french man living in japan managed to target frosty rossy while he was pirating an episode of the dailyshow and inject a program into the file that placed incriminating chat logs, diaries, and spreadsheets all over his computer

quote:

Norwegian bitcoingruve: First they doubled the prices - now they have turned off the machines
The digital mining companies are struggling with the fall in the crypto market, and the digital mining industry bitcoing mine has now turned off all of its customers' mining machines that extract bitcoin.

"Someone may have noticed that there was no payment yesterday. The reason for this is that operating costs have exceeded the amount recovered. That is, our operating costs take 100% of the recovered currency."

This is how the digital mining industry's letter starts at the end of last week.

What the company thinks is that it is no longer profitable enough to extract bitcoin. It's so unprofitable that all the money the customers earn comes into the pocket of the company that drives the machines for them.

The company has a business concept that drives the bitcoin recovery to its customers - they also take a piece of cake itself.

This autumn, the Digital Mine Industry reported that they experienced a huge hit on the customer side, where they sold machines for the extraction of bitcoin to NOK 31,250 per piece.

BITCOIN MINES CHANGED THE CONDITIONS AFTER PRICE RACE: - I FEEL CHEATED

Before Easter, the company changed the price terms for operating the machines they sold their customers, and the service thus became twice as expensive. Now they have gone one step further: Turned off the machines.

In the mail to the customers, the company writes the following:

"We have therefore chosen to pause all machines until it becomes more profitable. If you want to keep your computer (s) on and 'gamble' that profitability will be in the near future, you can also send us an email about this. We hope and expect this to be a short-term measure and your machine is up to running again in a short time. "

One of the customers whom E24 has talked to is very frustrated after putting thousands of dollars into the company's services.

- I feel fooled by the company. They sold this concept by taking 30 percent of the bitcoins that were extracted, regardless of whether the price went up or down. They can not just change the agreement that was entered into, says the student who is not a student, and who does not want his name related to the cryptovaluta.

Stop responding to customers

The same customer has repeatedly tried to get in touch with the company, but says he does not come through by telephone or mail.

On the Facebook page of the company, customers write that they are unable to get in touch with employees in the Digital Mine Industry.

CEO of the company Woldmo stated to E24 before Easter that he thinks they have everything right when they change the terms of price and operation.

"We have checked this legally and a change of contractual terms is within," said Woldmo to E24 in mid-March.

The Consumer Council, on the other hand, believes that the company can not change the price without having set this as a condition.

- If you have entered into an agreement, it is not possible to change the price if it is not agreed in advance. You will be informed when you enter into the agreement. If you do not have the person you buy the service from, you can set a price change, then he or she may have a problem, "says Communications Skipper Martin Skaug Halsos.

He says customers should complain the company to the council.

- In the terms of sale to digitalgruve.no it is said that the customer is to be considered a consumer and that one can complain under the Consumer Buying Act. We therefore recommend people to complain to digitalgruve.no to get a solution.

Digital Mine Industry has not responded to E24's inquiries.

Gobbeldygook posted:

https://twitter.com/NeerajKA/status/983325958215208960

Magrov posted:

Magrov posted:

the student who is not a student

Boxturret posted:

when is a student not a student?

when its ajar!!

Buttcoin purse posted:

I was just reading the thread I'm too young to remember the dotcom crash; how did that go down? (trigger warning for Pick thread) and it made me realize that divabot's article Debunking “But Bitcoin is like the early Internet!” is

Okay, the turn of the century wasn't exactly "early Internet", but it was a while ago, and at that time the Internet consisted of lots of business plans based on unrealistic schedules, impossible promises, assumptions of infinite exponential growth, and fraud, and therefore lots of companies disappeared without ever having delivered what they promised, taking investor money with them.

That sounds exactly like cryptocurrencies to me!

Boxturret posted:

the bitcoiners are saying that bitcoin is the internet itself, or amazon

infernal machines posted:

just this whole thread

https://twitter.com/sdbcraig/status/982710495030497280

Buttcoin purse posted:

I was just reading the thread I'm too young to remember the dotcom crash; how did that go down? (trigger warning for Pick thread) and it made me realize that divabot's article Debunking “But Bitcoin is like the early Internet!” is

Okay, the turn of the century wasn't exactly "early Internet", but it was a while ago, and at that time the Internet consisted of lots of business plans based on unrealistic schedules, impossible promises, assumptions of infinite exponential growth, and fraud, and therefore lots of companies disappeared without ever having delivered what they promised, taking investor money with them.

That sounds exactly like cryptocurrencies to me!

Magrov posted:

Digital Mine Industry has not responded to E24's inquiries. 

mojo1701a posted:

Now, he's trying to get me go to in on something called Raven Coin. Always knew it was just a matter of time.

TasogareNoKagi posted:

speculative bubbles are self similar

AlbieQuirky posted:

an actual pit bull would have my vote at this point

...! posted:

Boxturret posted:

the bitcoiners are saying that bitcoin is the internet itself, or amazon

jimmyjams posted:

"magic the gathering online exchange"

quote:

[–]master_mister8619 9 points 7 hours ago 

Mathematically, playing a lottery is the same as paying for an insurance. In both cases, you bet on something very unlikely to happen.

Boxturret posted:

hi i maxed out several credit cards and used up all my student loan money and savings buying insurance ama