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Powershift
Nov 23, 2009


dubzee posted:



new and exciting ways to make butts disappear




sidechaining has been a thing in music production for years. it's how you get that wub wub dubstep sound

http://www.soundonsound.com/sos/apr05/articles/logicnotes.htm

I thought pogs were all supposed to be the same size. How do those fit in a pog tube?

You can get a fuckton of kickass pogs on ebay. like 600 for 30 bucks. I should buy a bunch incase they suddenly take off and are worth $1000 a piece in 2 years.

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Powershift
Nov 23, 2009


quote:

Defendants cannot absolve themselves of
responsibility for the profit and yield
representations that came from the
profitability calculator simply b
ecause they did not create it.

The FTC doesn't know Jeff Ownby owns bitcoinx.com, the site that created the calculator that automatically plugged BFL hardware numbers into the calculator, and showed a 0.61% profitability decline per year.

from: http://ia902308.us.archive.org/32/items/gov.uscourts.mowd.117531/gov.uscourts.mowd.117531.42.0.pdf

Powershift
Nov 23, 2009


The new dude writing the buttcoin articles is actually a bitcoiner.

There is no Korean dude. He is the Korean dude.

He claimed to be a real journalist to wiggle his way into buttcoin and use it as a soapbox to steal bitcoins.

He walks away with 50 bitcoins and the good name of buttcoin is forever muddied.

He wasn't reporting on the poop. He want touching the poop. He is the poop.

Powershift
Nov 23, 2009


indigi posted:

sorry I don't have any bitcoins but I got these hi-fi speakers

Did your boss send you out with too many, and it's too burdensome to haul them all the way back to the warehouse?

Powershift
Nov 23, 2009



Yup, everybody who runs a bitcoin ATM needs a MSB license. So all those companies building and selling those ATMs slot machines expecting people to buy them and operate them in their businesses are going to have to build a new business model boat to get to cuba.

Powershift
Nov 23, 2009


Magrov posted:

they could get an extra 10,5 9 million dollars if they sell all those bitcoins. that's a lot of pichforks.

If they could find a private buyer willing to pay 100% of current market value.

If they were dumped on an exchange, with slippage they would only get about $7.5 million

Powershift
Nov 23, 2009


Robawesome posted:

Canadian Bitcoin Exchange CAVirtex Faces Class Action Lawsuit
http://bitcoinschannel.com/canadian-bitcoin-exchange-cavirtex-faces-class-action-lawsuit/

CAVirtex, Canada’s largest and oldest Bitcoin online exchange, is facing a potential class action lawsuit to the tune of $884,880 CAD. The alleged losses were incurred by the lawsuit-bringers after the company offered 10% of its shares for sale on the cryptocurrency-based asset exchange, Havelock Investments then stopped listing the stock by the end of 2013.

A total of 10,000 shares were sold on March 23, 2013 and continued to be traded until the end of 2013. At that time, CAVirtex announced that they would no longer be listing stock from Havelock and that they would offer to buy back their shares at an “adjusted exit price” of $30 CAD a share. At the time of the announcement, the stock was trading around $120 CAD a share.

Not only was the exit price unfair but the process for selling the shares was made complex, and many investors were left stock and as a result of this became permanent shareholders in CAVirtex. The class-action lawsuit against CAVirtex is based on the market cap at the time of the incident and takes into account the adjusted exit price offered. Those who feel they have been wronged by CAVirtex have until November 1st to submit a claim by contacting [email protected] with your name, phone number, number of shares you held, and any other relevant information. After November 1st, more details will be revealed; including, the name of the firm behind this.

This is the second time CaVirtex has been in the news this month. On October 6th, they disabled Bitcoin withdraws citing an increase in volume that lead their “hot wallet running dry.” The likelihood of CAVirtex’s actions being related to recent SEC actions increases as more news comes to light.

This is like druggies filing a class action suit against their dealer.

The company i bought unlicensed and unregulated securities from isn't following regulations :argh:

Powershift
Nov 23, 2009


Pumpy Dumper posted:

my rent alone is $1300/month

$50/week for groceries

$90/month for cell phone

$100 for internet

thats $1700 alone so

Sonny lives in a house and drives an audi paid for in cash with customer funds. That's the2 biggest expenses gone right there.

Powershift
Nov 23, 2009


http://ia802308.us.archive.org/32/items/gov.uscourts.mowd.117531/gov.uscourts.mowd.117531.166.1.pdf

quote:

13.
During the course of this i nvestigation, I learned that Butterfly Labs had acquired the website “buttcoin.org”, which was confirmed by Defense Counsel in this matter. According to Defense Counsel in this matter, Butterfly Labs acquired this website on December 13, 2013. A true And correct copy of this record is available upon request.
14.
Buttcoin.org is a website that was, until its purchase by Butterfly Labs, very critical of Butterfly Labs. According to an editorial written by the former owner and editor of buttcoin.org, he was contacted via email on December 10, 2013, by someone named “Jeff,” who expressed Interest in purchasing buttcoin.org. The editorial states that he was not aware of the identity of the purchaser or of the fact that the person was an employee of Butterfly Labs. The editorial further details how buttcoin.org’s most popular article prior to the purchase by Jeff was a piece detailing the lack of functionality of a Butterfly Labs “Mini Rig” that, the day after the purchase by Jeff, became a piece extolling the virtues of the same machine. The former owner stated that he later determined Jeff to be Jeffrey Ownby, VP Marekting and Ecommerce for Butterfly Labs. A true and correct copy of the editorial, republished with a dditional information on November 10, 2014, is

We're making a difference in the world :unsmith:

scroll down to the attachments. The buttcoin logo is in a court document!

Powershift
Nov 23, 2009


There are screenshots of Inaba's posts in the attachements on that document. I wonder if any harm can come to josh for failing to admit to that alias.

I'm still saddened to see no mention of jeff ownby's purchase and operation of bitcoinx.com, which had the bunk profit calculator with BFL unit's numbers plugged into it mentioned in the recent documents.

Powershift fucked around with this message at 06:54 on Nov 22, 2014

Powershift
Nov 23, 2009


Yeah, but evidence was quietly deleted off of bitcoinx.com after the FTC stepped in, but is still accessible on archive.org.

http://web.archive.org/web/20140625140321/http://www.bitcoinx.com/profit/

It supports the FTC's claim that BFL was misrepresenting the profitability of the product and deleting evidence more than it does that they were undermining journalistic integrity.

The weusecoins situation proves they're scumbags. The bitcoinx situation proves they're criminals.

Powershift
Nov 23, 2009


Alan Smithee posted:

tbf people from here and the grey thread have cited porn site stats as proof that advertising butt acceptance makes you look shady

The only reasonable use for a company accepting bitcoin for physical transactions is tax evasion.

It's worse in every possible way than every other possible payment option. If a store accepts bitcoin, they're fuckin shady.

Powershift
Nov 23, 2009


Sham bam bamina! posted:

why did i take another look at this guy's twitter



for context: after his first tweets about that debate i sent him an email with the question "What on earth is making you touch this crap?" and he said "Yeah, I kinda had a feeling it was a bad idea. And I seriously didn't mean for it to go that way." i figured that he got the message and that was that but nope CLEARLY i was just telling him not to write an article about it but to go full retard on twitter??!

Is he going to backtrace someone through the internet :ohdear:

Powershift
Nov 23, 2009


nicsho fits the bill of a genuine bitcoiner.

I would check the buttcoin foundation laughchain coldwallets to make sure all the comedy gold is still there.


Pocket posted:

having karples write a piece for the buttcoin foundation would anger so many

an OJ style "IF I DID IT" piece. With foreword by tibbane thecat

Powershift
Nov 23, 2009


His twitter says he's working at Harvard part time, but his linkedin says under education:

Harvard university
Doctor of Philosophy{Ph D). journalism.
2014-2021(expected)

So i think we can drop the whole extension school thing. harvard isn't listed under employment, his only job since 2011 was some temp thing at a library, and he self admittedly had a B average in high school. I would hope Harvard has more stringent entry requirements than devry.

This isn't helldumping either, this is relevant to discussion because his linkedin has buttcoin plastered all over it. Even in the Harvard section.

You have destroyed buttcoin's sterling reputation. What was once a site with a strong enough reputation to be cited by the government in a federal court case is now a laughing stock. At this point you'd be lucky to be referenced by the defense.

Powershift
Nov 23, 2009


Besides, if we don't air this stuff out, bitcoiners will, and then they won't take the buttcoin foundation seriously.

Powershift
Nov 23, 2009


Until he can find someone else to hold the massive bag he's stuck with, he still has to act like it's full of gold and not fecal matter.

"i'm making the bag bigger, guys, seriously, somebody take this bag!"

Powershift
Nov 23, 2009


twitter supports 2 factor authentication, considering that's a bitcoin wallet company, hack or not this should be the end of the company and anybody involved.

Powershift
Nov 23, 2009


Werthog 95 posted:

the founder of the bitcoin tipping subreddit supports the guy whose kid totally wrote about bitcoin


ok nevermind i found something better http://www.reddit.com/r/Handwriting/comments/2oej00/can_anyone_please_confirm_the_top_writing_did_not/

wish he hadn't deleted all his comments though :-(

Much the same way credit card companies support christmas.

Powershift
Nov 23, 2009


killhamster posted:

ok now review mine

seriously

It's like a whale wildly slapping a keyboard with it's tail.

A rather smart whale though, i mean, most whales probably can't even make words. Some would probably break the keyboard.

Powershift
Nov 23, 2009


theflyingexecutive posted:

lol I didn't even see they were charging for the coffee

What, do you think coffee grows on trees?

Powershift
Nov 23, 2009


Alan Smithee posted:

This is...good for miners right?

Yeah, if it keeps going this way, some of them might break even by about 2020, and beyond that it's massive profits of $50 a month per unit.

Assuming bitcoin stays above $350/still exists by then.

Powershift
Nov 23, 2009


Alan Smithee posted:

I'm surprised it hasn't risen, are there any Asic sellers still in the game?

There is, but it seems old hardware is failing at around the same rate new stuff is being sold.

Powershift
Nov 23, 2009


Alan Smithee posted:

planned obsolescence is but a legit sales tactic of the new butt economy

Do any of these people look like someone with a plan?

more like coincidental obsolescence.

Powershift
Nov 23, 2009


infernal machines posted:

why did bfl sell buttminers?

Because they had to sell something after taking in all that money..

The funniest part is, they let people pre-order cloud mining.

pre.
order.
cloud.
mining.

And rather than waiting for refunds, people are waiting for their cloud mining to come online. Their pre-ordered cloud mining. pre-ordered. cloud mining.

Powershift
Nov 23, 2009


FCKGW posted:

Also I was just looking at the Litecoin charts and on Christmas Eve last year the price peaked at $48

Today it's trading just under $3 :stare:

Who would have guessed people who got out of bitcoin into litecoin to get in on a new ground floor would ditch litecoin for the next new thing to get in on an even newer ground floor.

all the way down.

Powershift
Nov 23, 2009


DNova posted:

Forefeiture of proceeds and maybe a couple months and a fine.

That's basically what he got. There's a good chance he'll only actually serve a couple months.

DPR on the other hand is completely hosed. When they busted him, he was logged into the silk road website as dread pirate roberts, logged into multiple chat programs as dread pirate roberts, was wearing a nametag that said "my name is dread pirate roberts", and singing a pirate shanty about how he is dread pirate roberts. While handcuffing him he screamed out "you can't do this to me, i'm dread pirate roberts, i can pay someone on the internet to kill you with my drug money"

Powershift
Nov 23, 2009


Pocket posted:

i hope someone redraws the last supper but with karpeles as jesus.

Andreas is jesus.

Karpeles would be Judas.

That dude with the goofy face in that one dude's avatar can be the mad hatter, and dank can be alice

is dank still a thing?




just sayin

Powershift fucked around with this message at 20:15 on Dec 23, 2014

Powershift
Nov 23, 2009


DaTroof posted:

idk a bunch of em got furious when that one tech site experimented with mining and when they were done they just deleted all the keys

It was a BFL unit too, they didn't ask for or order a unit, and BFL sent them one long before actually shipping to paying customers.

Powershift
Nov 23, 2009


same song different chorus.

tons of these "cloudmining" contract sites have popped up, all assumed to be a front ends for amhash, much like all of the 7% weekly interest scams were buying into BCST. Even the one insurance company's "insurance" was invested in BCST because when they 7% paid out, they could have paid out all kinds of insurance!

Now there's cloudmining.website, hashie, amhash, cryptomine.io, hashprofit, nicehash.com, etc....

All these companies claiming to sell hashing power, and yet the overall speed of the network isn't going up. If they're actually selling imaginary hashing power with the expectation that the difficulty would have continued it's 10% bi-weekly jump, and nobody they ever sold to could ever recoup 100% of their investment, there are going to be more and more of these going tits up.

It's also likely that at some point they'll panic and actually invest in hashing power to cover their rear end only to invest in someone else pulling the exact same con. We could see a domino effect like we did with pirate where person E owes person D owes person C owes person B owes person A, and everybody is getting ready to cut and run.


indigi posted:

why would you conclude your scam by creating an ARG instead of disappearing



bitcoin scammers keep trying to top each other with how flagrant they're trying to be





whatever happened to that Neo & Bee guy who was on the run in Europe and people were threatening to kill his daughter

Apparently he still pops his head up to troll reddit every time he's mentioned.

http://www.reddit.com/user/cryptocyprus

Powershift
Nov 23, 2009


It wouldn't have been to hard for pirateat40 to give evidence that he was actually investing with the money given to him, instead of selling the bitcoins immediately to fund his lifestyle.

Powershift
Nov 23, 2009


bitcoin bastard posted:

incorrect, ferraris dont just buy themselves with bitcoin

Ferraris?

the dude only made off with $150 grand, still had a lein on an older bmw M5, and was still paying rent.

Powershift
Nov 23, 2009


indigi posted:

mtgox really hosed with my perception of how profitable/damaging scams could be cause my reaction to a guy stealing 150k is "meh that's not even enough to laugh about"

He sold 87,000 bitcoins for that 150k and the government has him on the hook for like 40 mil.

He is the worst criminal in the history of man kind.

It's like stealing a million dollar painting and selling out as canvas.

Gox only disappeared like 20 mil in real money, and even then the money actually went to customers cashing out. The majority of the $500 mil that went missing was just imaginary money created on their internal Ledger.

Powershift
Nov 23, 2009


text editor posted:

i thought this was in direct violation of the courts

No, you see, when they give BFL permission to activate free extra bonus hashing for them, they convert their "cloud mining pre-order" to an "immediate shipping e-book order with free cloud mining".

That way, they aren't required to offer refunds because your product already shipped. There is nothing to refund when your free cloud mining bonus gift doesn't arrive.

Their reports to the court can also list all orders as "shipped"

Powershift
Nov 23, 2009


That's a lot of words to say absolutely nothing.

Powershift
Nov 23, 2009


Soricidus posted:

marinecoin is going to the sea of tranquility, buy buY BUY

The market on marinecoin is so small, with about 50 bitcoins you could drive the price up to 1 bitcoin on every exchange it's traded on, at which point you would have 1000 of them.

So 50 bitcoins at $340 $310 $280 a piece is $14,000. you would buy about 1000 marinecoins which would then be worth 1 bitcoin each, so $280 each, meaning they're worth $280,000. That's a profit of $266,000. $280,000

more info:
1 marinecoin per block, one block every 2 minutes, 9,999,999,999 max coins, 97.2% premined by the developer. Basically another pump and dump altcoin. time to get in on the ground floor.

Powershift fucked around with this message at 12:28 on Jan 4, 2015

Powershift
Nov 23, 2009


fermun posted:

they did an interview in the runup before the $266 bubble where they claimed they picked up ~100,000 bitcoins from june 2012 to january 2013 at $8-$15 apiece. who knows what they did since that second bubble but if they threw in the towel it'd pretty quickly crash everything

That's why they're trying to launch that ETF. pass the bag onto others without selling onto bitcoin markets. They're trying to calculate the value in the same way bitcoiners do. total bitcoins times current price equals value. No accounting for the lack of liquidity and market depth.

The SEC should take one look at the bearwhale situation and see that anybody with 1/10th of the number of bitcoins the winkletwinks have can massively manipulate the market they're trying to base the ETF on, and call in a FEMA hitsquad to take out everybody involved.

Powershift
Nov 23, 2009



The strange part is, it drops on 250 volume, climbs back up on 1 volume, and then a pile of buy orders are immediately jump in under the new high price.

We always assumed it was goxbots buying to prop up the price, which their books seem to have proven to be true. Kinda makes me think these other exchanges are running similar bots.

Powershift
Nov 23, 2009


surebet posted:

buy and sell prices aren't the same, and in already inefficient now extra volatile markets a 2-3$ spread between the two prices is pretty normal

when it hits like 5$+ it means the two books don't have the time to follow each other and you should be seeing something like a flash crash

the "price" reported for bitcoin is the last transacted one, either buy or sell, which is also fairly standard (though in an adult marketplace, stocks or commodities with actual value and volume would match up <1$ and forex like <0.1¢ apart)

But the second it rises, buy orders come in to fill the spread, which doesn't happen when it drops.

For example, the last transacted price was at 5, there are buy orders for 1, 2, 3, 4, and sell orders for 6, 7, 8 and 9.

someone sells, it drops to 4, then to 3, then to 2, then to 1. There i now a 5 point spread, with no orders filling the gap. Someone buys and fulfills the lowest standing sell offer at 6, and immediately buy orders come in at 2, 3 4, and 5.

if 200 of something sold at 4, and one of that same thing sold at 6, why would so many people rush in to pay 5.9?

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Powershift
Nov 23, 2009



There is no loving way this is real. I'm not even checking because it's just not.

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