Martin Random posted:

You're moving goalposts. You said it's a viable currency if you can use it to directly buy the following in one area: housing, electricity, water, fuel, a vehicle, sustenance, medical care, clothing. You can do all of that in one area - my house. It's like a charming little island economy. Anything you need that we don't make, you can import.

Martin Random posted:

100% agreed. I've based real investment decisions on goons as contrarian indicators, and made real money. There are all kinds of stupid. There are loner-stupids that go off on their own. Goons are crowd-stupid. You can count on it. When they bag on something, you can extrapolate that to the larger population of stupid people in a country, and make actual stock market bets against goonthink. When you see them stampede towards a sentiment that doesn't pencil out, keep your ears pricked. Smithfield foods and BP were two of my "goon investments" that did very, very well.

ChubbyEmoBabe posted:

I'm not saying this scam is created by youor you're some mastermind swindling people I am saying you are taking part in a scheme/scam and you know drat well you are.


"Hey! I guess this bitcoin thing is real. There's a whole bunch of people just like v2. who have made a ton of "cash"; I have confidence now that I should get involved. Ok I ordered 4k in computer gear....oh poo poo someone just farted and now bitcoins are worthless."

UrbanFarmer posted:

Dark pools are used on the stock market as well: http://en.wikipedia.org/wiki/Dark_liquidity

Louisgod posted:

You see, bitcoins are like Pogs — no, actually, they're more like Pokemon Cards — no, actually, bitcoins are like the New Coke: they’ll be around forever, heh heh heh.

Groselgar posted:

The kind of people who were accepting these coins in the first place weren't even drug dealers in the way we normally think of them, I'd put good money down on them just being some drug using nerds who thought selling drugs they got from an actual dealer at a markup for this nonsense was a peachy idea.

evensevenone posted:

You can trade as much as you want, you just can't remove more than $1K a day from your account on Mtgox.

Ludwig von Beefoven posted:

I thought I might try to weasel into this buttcoin thing sometime before it hit rock bottom, guess I missed my chance . Did anybody actually make any real money?

evensevenone posted:

Sold 4 coins for $120 the other night. I think I spent about $10 worth of electricity mining them. Also wasted like 10 hours reading this stupid thread, the cost of which I can't calculate.

nebby posted:

agreed. My hope for recovery is not a sound economic phenomenon but simply looking at a 6 month window and deciding there will hopefully be another irrational rally of suckers after, say, the WSJ picks bitcoins up. (unlikely)

Patashu posted:

Calvin and Hobbes have a rousing discussion about the philosophy behind bitcoin while riding the very same's treacherous slopes.

dipwood posted:

Wait, when I made my Magic: The Gathering analogy I was hitting closer to home than I thought? "MTGOX" (Magic The Gathering Online Exchange)

It used to be a site for trading magic cards.

Lolie posted:

One of the few half sane posters over there talked about how the $30 mark was a psychological threshold for many people and because the run up to it was so fast a lot of people decided to cut and run when it hit that mark. With a whole lot of people issuing sell orders at 30, the price was bound to drop quickly, so people might have got 30.02 for the first 100 BTC they sold, 29.X for the next 150, 27.X for the next 200, etc.

The particular guy who made that post averaged $26 for the BTC he sold even though he started selling at 30. He didn't mention whether he sold all of his BTC, but he was obviously only one of many people who issued sell orders as soon as the price hit 30 and willing to keep issuing them while the price was still in the high to mid 20 range. With so many people looking to sell and the price falling fast, they were bound to run out of buyers until the price absolutely plummeted.

AuMaestro posted:

And the trading volume is so low that if you put in a sell order for $0.000001 you'll skew the average and cause another panic!

Barudak posted:

For all the madness that came spouting out of this guy and his inability to see the vast amount of ways he will not achieve his dream I couldn't stop focusing on the fact that he was recording in his car. Was his room occupied? Is he driving while recording this? Does his significant other not want to hear another goddamned word about BTC?

I must know.

Fatkraken posted:

It's a made up currency that only lets you buy things from other people who also believe in its value.

Unguided posted:

A government could easily seize bitcoins by walking up to your computer, opening up the bitcoin client and telling it to send the entire balance to a wallet they control. The best way to safeguard against this would be to do the same thing preemptively, have a computer hidden somewhere with a different wallet file. For example, you could rent a cheap VPS with some hosting company and have its sole purpose be to host the second wallet. Even better, you could rent a mini storage next to a wifi hotspot and then use it to store a cheap computer hooked up to a battery, then you can just transfer the coins over to that when the SWAT team rappels off your roof and through your window.

Cowcaster posted:

Look, if I want to buy a brand new tv with my bitcoins I simply just have to be patient until the price of them skyrockets and manage to sell them off before it plummets back down. If I don't all I have to do is wait for the next cycle! It makes perfect sense!

Monocle Smile posted:

Care to make a concrete prediction on the price at, say, the end of the month? Just think of all the goon cred you'll generate if you're right! That's almost as useful as bitcoin.

Monocle Smile posted:

My prediction: bitcoin will outlast this thread and any goon interest in it.

Monocle Smile posted:

Nope, no anger in this thread.

NihilCredo posted:

The problem is that I don't see much discussion at all, passionate or not. For each post raising or addressing a substantial objection - deflationary spiral, legal issues, etc. - there are five that bring up basic stuff that any FAQ explains ("what happens when all 21*10^6 BTC are mined", etc.), and about fifty that are basically indistinguishable from those in the FYAD thread ("LOL scam" "LOL libertards" etc.).

Xandu posted:

The bitcoins aren't stored on the site I don't think. It's a trading website.

Tasty and Delicious posted:

A burrito based currency would be far superior. You don't need a lot of money to start producing burritos, burritos will be in high demand pretty much until the end of time, they're never going to bubble out of control because you can just make your own burritos, and you can package them nicely and securely for large burrito based transactions.

Doc Hawkins posted:

Most trolls are fabrications, yes.

Death Himself posted:

They are primarily motivated by greed. Isn't that obvious by now?

Nothing makes sense to them unless you attach money to it. Nothing is valuable to them unless you attach money to it.

Yashgaroth posted:

e: haha I should have waited a couple minutes, $10 looks more impressive

archangelwar posted:

Back up to $15 guys, I don't understand why you guys think this poo poo ain't stable.

Luigi's Discount Porn Bin posted:

ReidRansom posted:

gently caress the free market. Do over! Do over! The price of bitcoins is still high because we say so!

Mister Fister posted:

So MtGox is a japanese company?

Kavros posted:

Also I want to know what's so bad about 'root:admin' — it sounds delightful, but I'm a neanderthal in these affairs.

Cao Ni Ma posted:

Can you steal somebodies gold in an MMO and be held accountable for something?

toby posted:

All I want to know is: does this mean I'm going to be able to buy a good cheap video card before Battlefield 3 comes out?

theflyingorc posted:

This man loves bitcoins, he was in one of the chairs earlier complaining about being hungry:

http://www.youtube.com/watch?v=sE3PQ0gIiJE&feature=player_profilepage

This is another face of Bitcoins. Only you can help. For only 3 bitcoins a day he can outwit all the sheeple.

Furious Mittens posted:

MagicalTux is now thumbing his nose at the community basically saying, "gently caress you, got mine. Try to sue"

http://forum.bitcoin.org/index.php?topic=20535.0

I really hope that someone in Japan (or elsewhere that has legal standing) is able to shut this pompous jackasses mouth with a nice big lawsuit over BitCoins. Even in a Japanese Court, the Judge and Attorneys will be comical in dealing with this nonsensical currency.

Jombo posted:

I took contract law for like a year before dropping it - and slept through most of it so IANAL... but isn't the Japanese law system considerably different from the west anyway?

OatmealRaisin posted:

It's where I learned Meze Grill doesn't serve burritos.

I Might Be Adam posted:

I'd be careful today in chat, all you Bitcoin Show lovers. poo poo's getting real over there at OnlyOneTv and the tension between Bruce and Ed is rising. I heard them talking about some hacks and right now, Bruce is looking over some news that Ed has printed for him because Bruce doesn't want the info to be heard over the live studio cam.

With all of the stress of Al Jazeera English being there and Bruce scolding Ed for saying things out loud instead of chatting him through gmail when he is 2 feet away, I can see the Ban Hammer being swift today.

archangelwar posted:

This is what I have been waiting for... every bitcoin user being charged with money laundering, drug and child porn crimes under RICO