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WikiTiger 
LSU Fan
Member since Sep 2007
38216 posts
 Online
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 5:36 pm to lsu_tiger_az)
quote:
I just short sold some Bitcoins.
Sweet! Which site did you use to do it?
I hear iCBIT is pretty good for short selling.
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lsu_tiger_az
LSU Fan
Arizona
Member since Mar 2004
28598 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 5:47 pm to WikiTiger)
quote:
Sweet! Which site did you use to do it?
I hear iCBIT is pretty good for short selling.
CampBX.... 
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el duderino III
LSU Fan
austin
Member since Jul 2011
1405 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 5:49 pm to Broke)
quote:
Can we come back in a year or so and say "I told you so"?
what the frick other reason do you think we post in these threads lol
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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
63133 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 5:55 pm to WikiTiger)
quote:
I don't know why he thinks one more year is significant.
"Year or so" Having trouble reading?
In its 5 years of existence (according to you) how many crashes has bitcoins had? I know of three, four if you count the one last night.
Have there been more than that?
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lsu_tiger_az
LSU Fan
Arizona
Member since Mar 2004
28598 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 6:04 pm to LSURussian)
quote:
I know of three, four if you count the one last night.
Have there been more than that?
Should I buy them back now... 
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el duderino III
LSU Fan
austin
Member since Jul 2011
1405 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 6:07 pm to WikiTiger)
quote:
I hear iCBIT is pretty good for short selling.
you realize, as bitcoin becomes more widely known, and especially as options trading sites become more reliable, it's inevitably going to attract these people called "real criminals" - as opposed to the majority of it's current following, which is comprised of faux libertarian hacker wannabes and computer nerds. and eventually, one of them will see the opportunity for the easiest heist of all time. Somebody who "knows people" gets wind of an early adopter or someone with a serious mining rig, who they know to be sitting on a big stash of BTC. They steal it right? no, that would be dumb. instead, they short the frick out of bitcoin, just go over to his house, stick a gun to his head, and say, "sell all of your bitcoin." Profit. Then just leave. they dont even need to kill him. in fact, it would be a lot smarter to do nothing to him, since there would be zero evidence of anything that just took place.
since there would no announcement of a security breach or any other of the "fluke" crashes that have occurred, there would be no "reset" of any kind by the exchanges, and with the trading volume what it is, it really wouldnt take that much BTC to trigger panic and a massive selloff. it would be the perfect crime. no possible recourse for anyone involved whatsoever, and no evidence
This post was edited on 3/12 at 6:10 pm
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WikiTiger
LSU Fan
Member since Sep 2007
38216 posts
Online
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 6:10 pm to el duderino III)
quote:
you realize, as bitcoin becomes more widely known, and especially as options trading sites become more reliable, it's inevitably going to attract these people called "real criminals" - as opposed to the majority of it's current following, which is comprised of faux libertarian hacker wannabes and computer nerds. and eventually, one of them will see the opportunity for the easiest heist of all time. Somebody who "knows people" gets wind of an early adopter or someone with a serious mining rig, who they know to be sitting on a big stash of BTC. They steal it right? no, that would be dumb. instead, they short the frick out of bitcoin, just go over to his house, stick a gun to his head, and say, "sell all of your bitcoin." Profit. Then just leave. they dont even need to kill him. in fact, it would be a lot smarter to do nothing to him, since there would be zero evidence of anything that just took place.
since there would no announcement of a security breach or any other of the "fluke" crashes that have occurred, there would be no "reset" of any kind by the exchanges, and with the trading volume what it is, it really wouldnt take that much BTC to trigger panic and a massive selloff. it would be the perfect crime. no possible recourse for anyone involved whatsoever, and no evidence
I'll be on pins and needles.
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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
63133 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 6:15 pm to lsu_tiger_az)
quote:
Should I buy them back now...
If you're short, you're good. Just be sure to buy them back before there are no more sellers to buy from.
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el duderino III
LSU Fan
austin
Member since Jul 2011
1405 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 6:38 pm to WikiTiger)
you might be accumulating more pending future "i told you so's" than joshuachamberlain
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el duderino III
LSU Fan
austin
Member since Jul 2011
1405 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 6:40 pm to lsu_tiger_az)
quote:
Should I buy them back now...
and i actually wouldn't be short right now. i think this thing likely has quite a ways to go before it pops. the vast majority of people have still never heard of bitcoin, and i wouldnt be betting against people's greed just yet.
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lsu_tiger_az
LSU Fan
Arizona
Member since Mar 2004
28598 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 7:04 pm to el duderino III)
quote:
and i actually wouldn't be short right now. i think this thing likely has quite a ways to go before it pops. the vast majority of people have still never heard of bitcoin, and i wouldnt be betting against people's greed just yet.
Looking at the "trend", BTC seems to periodically rise dramatically, and then fall quickly. If that trend holds, it looks like a great opportunity...
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rickgrimes
LSU Fan
Member since Jan 2011
2754 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 7:39 pm to el duderino III)
quote:
you might be accumulating more pending future "i told you so's" than joshuachamberlain
What is this Joshua's claim to fame?
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TigerDeBaiter
LSU Fan
Member since Dec 2010
2371 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 8:02 pm to rickgrimes)
Romney had the election in the bag, right?
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OnTheBrink 
Alabama Fan
TN
Member since Mar 2012
1802 posts
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 8:32 pm to TigerDeBaiter)
I think that's right... Worked for one of the major networks so he had "sources"... I try not to venture to the poli board often...
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CptBengal 
USA Fan
BR Baby
Member since Dec 2007
30449 posts
Online
| re: Major glitch in Bitcoin network sparks sell-off (Posted on 3/12/13 at 10:02 pm to OnTheBrink)
although I find the cryptography interesting, I fail to see the advantage of replacing one fiat currency for another.
in fact, cash allows for anonymity quite easily.
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