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VanSandman
Feb 16, 2011
SWAP.AVI EXCHANGER

Coffee Jones posted:

Survival of the fittest.

Got mine.

Got yours, too. :smug:

I'd just like to point out this is brilliant in its simplicity. Its like how maths can be beautiful. This is beautiful satire.

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theflyingorc
Jun 28, 2008

ANY GOOD OPINIONS THIS POSTER CLAIMS TO HAVE ARE JUST PROOF THAT BULLYING WORKS


Young Orc

CaptainViolence posted:

Yeah, but anybody who gets banned gets erased from the archive, so big chunks of the conversations are missing. :(

Oh good. Thanks to Bruce, I can once again run for office.

TC_
Mar 17, 2006

Party time!!
:toot:


Inspector_71 posted:

We need a new, decentralized time zone backed by math.

No, what if someone speculates on lunch time?!? :ohdear:

Devian666
Aug 19, 2008

Take some advice Chris.



Fun Shoe

TC_ posted:

No, what if someone speculates on lunch time?!? :ohdear:

Got my lunchtime, got yours too. You're going to have to starve so suck it up.

Oh no someone stole my lunchtime, rollback rollback.

What would be the worst is the speculation bubble on breakfast, lunchtime and dinner.

My PIN is 4826
Aug 30, 2003



TC_ posted:

No, what if someone speculates on lunch time?!? :ohdear:

Or worse, Drone_FAGGER makes a post and stops time

Cabbages and Kings
Aug 25, 2004



"Oysters," said the Carpenter,
"You've had a pleasant run!
Shall we be trotting home again?"
But answer came there none
And this was scarcely odd because
They'd eaten every one.


BitTime.

They better fix this mtgox poo poo fast I have coins to sell!

Good Citizen
Aug 12, 2008



Pead posted:

I just made a twitter account w/ a fake gmail since twitter login was enabled again.

Don't bother making fake gmails. Just use this website:
http://mailinator.com/

ReidRansom
Oct 25, 2004




TC_ posted:

No, what if someone speculates on lunch time?!? :ohdear:

Oh poo poo, what if they hack it and it gets deleted?

Molotov Cock Tale
Jun 30, 2010


ReidRansom posted:

Price crashes tonight when magic the gathering online exchange reopens? Hey, that wasn't supposed to happen! ROLLBACK!

Only six and a half hours to go :allears: My main worry right now is being woken up in the night by the earth-shattering implosion of the pokemon currency exchange.

"All our customers are trying to take out money and bitcoins we don't actually have? ROLLBACK! ROLLBACK! ROLLBACK!"

Pead
May 31, 2001


Nap Ghost

Good Citizen posted:

Don't bother making fake gmails. Just use this website:
http://mailinator.com/

ahh, nice. thanks

ChubbyEmoBabe
Sep 6, 2003

-=|NMN|=-


v2.spengler posted:

BitTime.

They better fix this mtgox poo poo fast I have coins to sell!

Why don't you sell them on tradehill?

VV Interesting angle there. I just so happen to have 10000 imaginary video cards.

Civil
Apr 21, 2003

Do you see this? This means "Have a nice day".

Molotov Cock Tale posted:

Ahhahahahahah http://forum.bitcoin.org/index.php?topic=21325.0;all

And you're responsible for that. Unfortunate, but that's the way it goes.

400 BTC gone, now later it does seem to be a scam :monocle: but the initial libertarian position kills me there. "So someone stole ~$8,000 from you? That's life, suck it up".

Libertarians :negative:
[/quote]

Hmm. I've got 10 imaginary videocards. I didn't know that they were worth anything until now. Might as well flip them for imaginary money.

Coffee Jones
Jul 4, 2004

16 bit? Back when we was kids we only got a single bit on Christmas, as a treat
And we had to share it!


dietcokefiend posted:

I really want this on a shirt with a lion attacking a fawn or something.

Or a burly dude punching a baby out of mid air.

E: make it look like a coat of arms

text editor
Jan 8, 2007



Reddit never disappoints

TC_
Mar 17, 2006

Party time!!
:toot:


ReidRansom posted:

Oh poo poo, what if they hack it and it gets deleted?

gently caress you for even saying that!

ClosedBSD posted:

Reddit never disappoints



(Inside the EFF)

"What the gently caress is this?"

the party god
Feb 23, 2011


Jesus, I want to start reading this thread but as I clicked 'Last' I realized how loving long it is. Can someone do a quick recap of the story so far for people just tuning in? :aaa:

All I know is that Bitcoins are terrible and they have a tendency to fluctuate more than a pregnant lady's mood swings.

heffray
Sep 18, 2010





ChubbyEmoBabe posted:

Why don't you sell them on tradehill?
My mistrust of shoddy exchanges was outweighed by wanting to liquidate my mined buttcoins, so I sold them on tradehill this morning. It took a few hours for the Dwolla withdrawal to go through, but everything went smoothly. Of course, I wouldn't recommend holding anything there for any duration, but it seems to be a viable way to sell buttcoins to insane libertarians/speculators.

ChubbyEmoBabe
Sep 6, 2003

-=|NMN|=-


Nice to hear people are actually unable to unravel themselves (if they hold their coins). It's also completely insane people are still buying these in any volume.

I will fall out of my chair if mtgox opens and surges.

Rockybar
Sep 3, 2008



Skype has been ringing for 5 minutes :psyduck:

Devian666
Aug 19, 2008

Take some advice Chris.



Fun Shoe

ChubbyEmoBabe posted:

Nice to hear people are actually unable to unravel themselves (if they hold their coins). It's also completely insane people are still buying these in any volume.

I will fall out of my chair if mtgox opens and surges.

mtgox is going to take a massive hammering. Assuming the server hold up to the load there's going to be a lot going on. Some will just withdraw what they have in cash and bitcoins. Some will want to buy bitcoins and others sell them prior to withdrawing. Then there'll be a backlog of mined bitcoins that people will want to dump.

Pretty much anything could happen. If the price has a hint of going up greed will take over.

rare Magic card l00k
Jan 3, 2011




The best (i.e. funniest) case scenario is that bitcoin value spikes for a couple minutes before the crash.

TC_
Mar 17, 2006

Party time!!
:toot:


Devian666 posted:

mtgox is going to take a massive hammering. Assuming the server hold up to the load there's going to be a lot going on. Some will just withdraw what they have in cash and bitcoins. Some will want to buy bitcoins and others sell them prior to withdrawing. Then there'll be a backlog of mined bitcoins that people will want to dump.

Pretty much anything could happen. If the price has a hint of going up greed will take over.

I also wouldn't be surprised if it turns into some sort of Mexican standoff where no one wants to make the first move.

Edit - or those with a lot invested put out high bids to bump confidence and hopefully save their money.

I Might Be Adam
Jun 11, 2007

Skip the Waves, Syncopate
Forwards Backwards



Still can't login to chat from work and I know nothing about changing my IP. I need bruce to unban my facebook login.

If anyone is in the chat, ask bruce to unban Jesus Chrysler or at least allow twitter again.

Patter Song
Mar 26, 2010

Hereby it is manifest that during the time men live without a common power to keep them all in awe, they are in that condition which is called war; and such a war as is of every man against every man.

Fun Shoe

the party god posted:

Jesus, I want to start reading this thread but as I clicked 'Last' I realized how loving long it is. Can someone do a quick recap of the story so far for people just tuning in? :aaa:

All I know is that Bitcoins are terrible and they have a tendency to fluctuate more than a pregnant lady's mood swings.

Shortest summary:

Bitcoins are the product of a possibly fictional Japanese man named Satoshi Nakamoto. They are "mined" through having computers with powerful graphics cards solve gradually more complex mathematical equations, and only 21 million Bitcoins will exist (creating an inherently deflationary currency, a major no-no). Bitcoin gained notoriety due to the press talking about how people were using a service named "Silk Road" to buy drugs online with Bitcoin, and Bitcoin's "value" skyrocketed to over $30 to 1 BTC.

The big Bitcoin "currency exchange," MtGOX ("Magic: the Gathering Online Exchange," or, as they like to call it, "Mount Gox") made a killing off of taking a .65% fee off of every conversion, and had a policy of only allowing people to withdraw $1000 USD a day or $10,000 a month from their MtGOX account, supposedly to conform with money laundering laws but actually to prevent a run on the bank. The first run on the bank happened in relatively slow motion due to MtGOX holding everyone's money hostage (if you can only withdraw $1,000 a day you have an interest in keeping the bubble going artificially long) and helped prevent a full-fledged initial run on the bank. Nevertheless, prices plummeted as low as $10 USD-1 BTC before recovering to about $15.

Then, MtGOX was hacked and someone took 100,000 BTC and sold them to another account of his for $.01 a Bitcoin (to conform with their "withdraw no more than $1000 a day" rule) and this crashed the market. MtGOX shut down and has had an incredibly tough time trying to rebuild itself. It instituted a "rollback" of the deal and reclaimed the "stolen" Bitcoins, but it is still sitting on at least 1.3 million dollars of other people's money, and they're no longer even completely sure what belongs to who. They're opening the market up again at 11 PM EDT tonight, and we will witness a full-scale cyber-run on the bank, It's a Wonderful Life-style.

Various other exchanges have been set up to replace MtGOX, but none is that big yet.

This thread has mainly been focusing on "The BItcoin Show," a webcam series by a couple of enterprising, incompetent nerds that are huge fans of this new commodity currency Ponzi scheme. With their amateurish charm and low production values, "The Bitcoin Show" has wormed its way into the Goony heart. Supposedly, they are going to be interviewed by Al Jazeera English in the next few days, though no one can figure out why AJE would waste their time with them.

shotgunbadger
Nov 18, 2008

WEEK 4 - RETIRED


Patter Song posted:

Shortest summary:

Bitcoins are the product of a possibly fictional Japanese man named Satoshi Nakamoto. They are "mined" through having computers with powerful graphics cards solve gradually more complex mathematical equations, and only 21 million Bitcoins will exist (creating an inherently deflationary currency, a major no-no). Bitcoin gained notoriety due to the press talking about how people were using a service named "Silk Road" to buy drugs online with Bitcoin, and Bitcoin's "value" skyrocketed to over $30 to 1 BTC.

The big Bitcoin "currency exchange," MtGOX ("Magic: the Gathering Online Exchange," or, as they like to call it, "Mount Gox") made a killing off of taking a .65% fee off of every conversion, and had a policy of only allowing people to withdraw $1000 USD a day or $10,000 a month from their MtGOX account, supposedly to conform with money laundering laws but actually to prevent a run on the bank. The first run on the bank happened in relatively slow motion due to MtGOX holding everyone's money hostage (if you can only withdraw $1,000 a day you have an interest in keeping the bubble going artificially long) and helped prevent a full-fledged initial run on the bank. Nevertheless, prices plummeted as low as $10 USD-1 BTC before recovering to about $15.

Then, MtGOX was hacked and someone took 100,000 BTC and sold them to another account of his for $.01 a Bitcoin (to conform with their "withdraw no more than $1000 a day" rule) and this crashed the market. MtGOX shut down and has had an incredibly tough time trying to rebuild itself. It instituted a "rollback" of the deal and reclaimed the "stolen" Bitcoins, but it is still sitting on at least 1.3 million dollars of other people's money, and they're no longer even completely sure what belongs to who. They're opening the market up again at 11 PM EDT tonight, and we will witness a full-scale cyber-run on the bank, It's a Wonderful Life-style.

Various other exchanges have been set up to replace MtGOX, but none is that big yet.

This thread has mainly been focusing on "The BItcoin Show," a webcam series by a couple of enterprising, incompetent nerds that are huge fans of this new commodity currency Ponzi scheme. With their amateurish charm and low production values, "The Bitcoin Show" has wormed its way into the Goony heart. Supposedly, they are going to be interviewed by Al Jazeera English in the next few days, though no one can figure out why AJE would waste their time with them.

Hey thanks for this, I kinda lost track of this thread half in so I've been only understanding half of the things said so far.

This should be fun tonight, then, any idea what's going to happen when everyone rushes?

Wojtek
Oct 17, 2008


shotgunbadger posted:

This should be fun tonight, then, any idea what's going to happen when everyone rushes?
Servers gonna crash.

waffle
May 12, 2001
HEH


shotgunbadger posted:

Hey thanks for this, I kinda lost track of this thread half in so I've been only understanding half of the things said so far.

This should be fun tonight, then, any idea what's going to happen when everyone rushes?
I anticipate MtGox will crash in seconds and not a single person will get a transaction through

ReidRansom
Oct 25, 2004




shotgunbadger posted:

This should be fun tonight, then, any idea what's going to happen when everyone rushes?

Probably a server crash. Possibly some people hacking away at the new and untested code. Lots of hilarity no matter what else may happen.

ChubbyEmoBabe
Sep 6, 2003

-=|NMN|=-


Wojtek posted:

Servers gonna crash.

Haters gonna hate

Wojtek
Oct 17, 2008


Are there any goons in this thread that are actually invested in bitcoins and want to see it succeed?

Don't be afraid to out yourself!

ReidRansom
Oct 25, 2004




Wojtek posted:

Are there any goons in this thread that are actually invested in bitcoins and want to see it succeed?

Don't be afraid to out yourself!

I am comedically invested in its failure. That's almost the same thing.

Rudager
Apr 29, 2008


Wojtek posted:

Are there any goons in this thread that are actually invested in bitcoins and want to see it succeed?

Don't be afraid to out yourself!

Kane over in BFC seems to either be invested or really really really likes Bitcoins.

Good Citizen
Aug 12, 2008



ReidRansom posted:

I am comedically invested in its failure. That's almost the same thing.

Same, but it leaves me in a weird position, emotionally. One one hand I want to blow it's load and fail all at once in a huge explosion of libertarian tears, but on the other hand I can't get enough of this slow motion train wreck that has been taking place over the last few days.

So conflicted...

text editor
Jan 8, 2007



Wojtek posted:

Are there any goons in this thread that are actually invested in bitcoins and want to see it succeed?

Don't be afraid to out yourself!

v2.spengler has been a pretty unrelenting defender of buttcoins and mentioned having 1 tied up in mtgox right now.


Good luck v2.spengler, I hope you can make a little fiat off of your coin before mtgox bites the dust!



edit:

Rudager posted:

Kane over in BFC seems to either be invested or really really really likes Bitcoins.


Kane really needs to have some Bitcoin-related toxx clause assigned to him at this point

Rudager
Apr 29, 2008


ClosedBSD posted:

Kane really needs to have some Bitcoin-related toxx clause assigned to him at this point

To convince someone in Africa to accept his Bitcoin as a donation.

Devian666
Aug 19, 2008

Take some advice Chris.



Fun Shoe

Wojtek posted:

Are there any goons in this thread that are actually invested in bitcoins and want to see it succeed?

Don't be afraid to out yourself!

They got angry and rated the thread 1 early on. I spend some time playing around with bitcoin stuff so I can understand what's going on, and have some bitcoins. I am, however, here to see it all burn to the ground.

Rockybar
Sep 3, 2008



Rudager posted:

To convince someone in Africa to accept his Bitcoin as a donation.

Give a man a bitcoin, he can buy jerky for a day.
Give a man a $1000 dollar mining rig, he can buy jerky for ever before mtgox crashes

Kavros
May 18, 2011

sleep sleep sleep
fly fly post post
sleep sleep sleep

I'm just excited to see this all close out because I want to see it turn into a book that ends "and thus, like everyone expected, reality kicked internet libertarians in the teeth, yet again."

Cuntpunch
Oct 3, 2003

A monkey in a long line of kings

I'd actually be willing to bet AJE calls off the segment entirely.
Given how little the average media person seems to understand bitcoins and the current situation - I'd imagine that somebody found out about The Bitcoin Show and went "Hey those are probably the guys that started all of this!" and set up an interview.

I'd guess today someone who knows a modicum about BTC told the production staff that they were about to go interview some relative nobodies and they postponed to investigate whether or not they would in fact be wasting their time talking to Bruce.

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Patter Song
Mar 26, 2010

Hereby it is manifest that during the time men live without a common power to keep them all in awe, they are in that condition which is called war; and such a war as is of every man against every man.

Fun Shoe

shotgunbadger posted:

Hey thanks for this, I kinda lost track of this thread half in so I've been only understanding half of the things said so far.

This should be fun tonight, then, any idea what's going to happen when everyone rushes?

In the long run, my (and I'm just some rear end in a top hat on the Internet) opinion is that after several attempts at this, MtGOX will end up walking away with everyone's money. They honestly don't even know who this stuff belongs to anymore and their whole "everyone can claim X account and we'll just decide ourselves who it should go to" policy is laughable. They'll end up saying "Screw it" and keeping the at least 1.3 million dollars of sweet, sweet USD themselves.