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So this is just a needlessly complicated type of Ponzi scheme right?
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May 24, 2011 08:55
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My PIN is 4826 posted:I'm totally loving the kind of tinfoil hat/anti authority people that bitcoin attracts. Here's a post on how to set up an encrypted wallet file, complete with decoy contents to hide the real file further: How do you get it to detect whether someone is straight or gay and send them the right type of porn?
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May 25, 2011 01:45
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If the early adopters are going to cash in they'll have to do so over the course of a brief period of time. Assuming nothing else goes wrong the bitcoin bubble will suffer the same fate of all bubbles; the cost of entry will rise too high and the supply of late adopters will dry up. Bitcoin prices will stabilise or begin dropping and early adopters with large bitcoin portfolios will have to dump them quick or loose out on potential income. The market will start crashing and late adopters will panic sell or face complete losses on the overpriced bitcoins they bought. Unlike recent bubbles such as the real estate, commodity or the dot-come bubbles, banks aren't going to lend real money to buy bitcoins so the bitcoin market can't be prolonged by credit driven inflation.
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May 25, 2011 03:33
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The bitcoin value is so unstable the drug dealers will need to develop some kind of futures contract to be able to effectively use the system.
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May 25, 2011 04:14
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Dr. Pwn posted:Picture of Gavin Andresen, the responsible, mature adult who was invited to give that presentation: He's trying to burn an Australian $20 note. They're made of waterproof, fire resistant polymers.
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Jun 13, 2011 02:14
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Lolie posted:Oh goody, an IPO. Without the ability to create new bitcoins through minting or fractional reserve lending, these kinds of 'investments' are going to fail in the long term or just turn into Ponzis. Bitcoins were designed from the ground up to prevent real economic growth.
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Jun 14, 2011 10:33
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Death Himself posted:Oh god oh god. Some of them want to create a bitcoin banking service to protect people's bitcoins in light of all the recent wallet theft. The way they're tracking they're going to have to introduce a parallel currency backed by bitcoins which can be infinitely inflated. BitPromissoryNotes
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Jun 14, 2011 11:05
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Mt Gox has 95% of the Bitcoin market and is currently locked down. There simply aren't any bitcoins out there to trade right now.
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Jun 21, 2011 10:40
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So what type of beer goes best with lolbertarian tears? I've got a six pack of Old Admiral. It's a rich dark ale that's best savoured over time.
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Jun 25, 2011 03:56
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Cuntpunch posted:Bitcoin Charts isn't getting any updated API information so they're not 100% up and running yet. They were going to let people reset their logins for an hour then start trading
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Jun 25, 2011 04:03
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So anyone going to guess odds on people never getting their MtGox money back. I'm guessing a good 65% chance myself.
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Jun 25, 2011 04:22
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Eezee posted:Also you can meet Bruce there! He's scamming at least 3 'investors' and isn't paying any of his workers to produce and star on his TV station. Bruce really isn't a nice guy.
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Jun 27, 2011 08:44
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Lolie posted:TradeHill is definitely going to come undone in Australia. They're quoting fees of between $5 and $60 for people to deposit AUD into an Australian bank account. Even on accounts where transaction fees are charged they are nowhere in that range. If anyone can be bothered, you could send a complaint to the Australian Competition and Consumer Commission and watch as Trade Hill gets hosed three times in a row as the ACCC calls in the ATO and ASIC as well.
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Jul 2, 2011 06:00
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That's how the Planet Express ship works in Futurama.
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Jul 9, 2011 11:22
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Three-Phase posted:Man, what is the heater goes out on the bus? I know it's been pointed out above that we're coming into Summer in the Southern Hemisphere, but I feel it's also worth mentioning that it can get up to 50 degrees celcius (122F) out on the Nullarbor during November.
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Aug 24, 2011 09:48
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Also, he doesn't pay his workers and he's scammed most of the people in his life into putting money in bitcoins. The guy's just generally abusive.
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Aug 29, 2011 09:22
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