Oh No, Bitcoins Trading <$100...
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Oh No, Bitcoins Trading <$100...
Posted by Poodlebrain on 5/2 at 9:19 am
I just checked and Bitcoins were trading at $98.00 at 9:18CDT.


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Posted by OnTheBrink on 5/2 at 9:31 am to Poodlebrain
Guess I need to tell the kids to change their sign...




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Posted by gizmoflak on 5/2 at 9:34 am to Poodlebrain
Lance G's fault


quote:

While “Lance G” could be anyone from a 16-year-old working out of his parents' basement to a 35-year-old man working out of his parent’s basement, one rumor has it that law enforcement officials are behind the attacks.



This post was edited on 5/2 at 9:37 am

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Posted by ThaBigFella on 5/2 at 10:42 am to gizmoflak
$5,000....thats it? Damn it must be a 16 year old bc anyone with a brain would know if you had to go to a special website only accesible through TOR to purchase illegal narcotics.....the company is sophisticated and clearly making some serious money.....$5,000.....thats amateur hour demands


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Posted by the LSUSaint on 5/2 at 12:45 pm to ThaBigFella
quote:

threatening to crash the site unless it forked over the surprisingly small amount of $5,000.


No doubt this is the work of Dr Evil




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Posted by Doc Fenton on 5/2 at 2:41 pm to Poodlebrain
quote:

Poodlebrain


:bitsessed:



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Posted by Poodlebrain on 5/2 at 3:53 pm to Doc Fenton
I'd prefer bitmused. The entertainment value is what keeps me coming back. It certainly isn't the technical nature of the discussions.


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Posted by gizmoflak on 5/2 at 5:13 pm to Poodlebrain
So did anyone buy at <$100?

If so, congrats



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Posted by ThaBigFella on 5/2 at 8:37 pm to gizmoflak
id shite myself if my networth was in bitcoins and swung 15% in either direction in a day


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Posted by joshnorris14 on 5/2 at 8:41 pm to ThaBigFella
quote:

id shite myself if my networth was in bitcoins and swung 15% in either direction in a day


Imagine the geeky early adopter who's seen his bitcoins from being worth a few cents to $266.



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Posted by TigerDeBaiter on 5/2 at 8:49 pm to joshnorris14
Yes, getting in early on a Ponzi scheme can be advantageous.



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Posted by joshnorris14 on 5/2 at 8:54 pm to TigerDeBaiter
quote:

Yes, getting in early on a Ponzi scheme can be advantageous.


Well yes that's true but I have no idea what that has to do with the early adopters of bitcoin.



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Posted by C on 5/2 at 9:50 pm to joshnorris14
It's more of a "going out of business" or "these deals won't be here forever" type scheme as explained by Julian assuage. It's designed specifically to get people to join early to maximize benefit.


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Posted by joshnorris14 on 5/2 at 9:56 pm to C
quote:

It's more of a "going out of business" or "these deals won't be here forever" type scheme as explained by Julian assuage.


Don't misrepresent what Assange said.

Assange was talking about how it was proselytized to people that way. This was one critique in a conversation of how technically brilliant bitcoin is and it wasn't even a critique in bitcoin itself but rather of the people involved.



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Posted by C on 5/2 at 10:03 pm to joshnorris14
It's the key part of bitcoin and why many criticize it. If the distribution was based on sustaining a certain exchange rate or based on exchange volume I would have zero criticism of it. It's a scheme that's going to fail in the long run. Other systems will form that give more certainty to buyers and sellers. Bit coins may exist as a commodity for a while but it will lose out to others for exchanging goods.


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Posted by joshnorris14 on 5/2 at 10:19 pm to C
quote:

If the distribution was based on sustaining a certain exchange rate


Well if this is your main complaint, I'm glad you don't like bitcoin.



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Posted by LSURussian on 5/2 at 10:28 pm to joshnorris14
quote:

Imagine the geeky early adopter who's seen his bitcoins from being worth a few cents to $266.
It works both ways.
Imagine those bitcoinistas who were gullible enough to buy at $266 and tonight see it down to $98 as I type this having seen their "currency" lose over 60% of its purchasing power in three weeks.



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Posted by joshnorris14 on 5/2 at 10:33 pm to LSURussian
quote:

It works both ways.


It's not as interesting. The early adopters have been through both. It was kind of cool to watch during the April bubble on Reddit as these early adopters were driving themselves crazy because of their situations.



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Posted by LSURussian on 5/2 at 10:34 pm to joshnorris14
quote:

It's not as interesting

It is to me.



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Posted by C on 5/3 at 5:58 am to joshnorris14
quote:

Well if this is your main complaint, I'm glad you don't like bitcoin.


Sniff...



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