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Message
re: Bitcoin's value dropped after flaw found in currency software
Posted on 2/11/14 at 12:33 am to LSURussian
Posted on 2/11/14 at 12:33 am to LSURussian
quote:
Those Mt Gox incompetent assholes are the same people you were proclaiming to be the gold standard of btc exchanges about a year ago.
If everyone else really, really, really sucks and you just really suck, what does that make you?
2
Posted on 2/11/14 at 12:56 am to joshnorris14
What's the easiest way for me to pick up a couple of these BTC? I'd like to get 2 for about $1,000 and see how that goes.
Posted on 2/11/14 at 1:06 am to Sho Nuff
quote:
What's the easiest way
Well from what I've read, there is no easy way
Basically, youre giving somebody you dont know $1000 USD and they are going to assign you a long string of numbers, and put those numbers in a wallet they claim is yours, and tell you those numbers equals to $1000 in bitcoins
But at any time they can keep you from getting your value out, because you really have no way of insuring your investment, or even if your numbers mean anything
Posted on 2/11/14 at 1:24 am to alexman
This whole bitcoin saga on the OT is getting old.
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Bitcoin value skyrockets: HA!
Bitcoin value decreases: HA!
Posted on 2/11/14 at 2:36 am to Turkey_Creek_Tiger
quote:
For bitcoin it's not a big deal, its completely normal. The extreme price fluctuations of Bitcoin is what makes its so attractive to investors.
Not investors, but speculators. There is a big difference in the two.
Posted on 2/11/14 at 3:48 am to LSURussian
quote:
If the transfer of btc ownership within an exchange is only recorded by the exchange's recordkeeping software and not on the btc blockchain protocol, every btc owner on that exchange is subject to fraud by the exchange.
Granted I'm not an investment banker so I have a simplistic view of the system, but this doesn't sound much different than a regular stock exchange to me.
I have some common stock in Bank of America that my dad gifted to me several years ago and they never issued me the actual certificates. The only thing I have proving my ownership is the quarterly statement they send. In my eyes, that's just a piece of paper with a bunch of numbers on it.
As for acting like BTC exchanges aren't like normal exchanges because of regulations preventing fraud: Bernie Madoff says "Hi."
Posted on 2/11/14 at 6:05 am to Merck
quote:
Granted I'm not an investment banker so I have a simplistic view of the system, but this doesn't sound much different than a regular stock exchange to me.
I have some common stock in Bank of America that my dad gifted to me several years ago and they never issued me the actual certificates. The only thing I have proving my ownership is the quarterly statement they send. In my eyes, that's just a piece of paper with a bunch of numbers on it.
As for acting like BTC exchanges aren't like normal exchanges because of regulations preventing fraud: Bernie Madoff says "Hi."
Posted on 2/11/14 at 9:06 am to Merck
quote:
Granted I'm not an investment banker so I have a simplistic view of the system, but this doesn't sound much different than a regular stock exchange to me.
I have some common stock in Bank of America that my dad gifted to me several years ago and they never issued me the actual certificates. The only thing I have proving my ownership is the quarterly statement they send. In my eyes, that's just a piece of paper with a bunch of numbers on it.
As for acting like BTC exchanges aren't like normal exchanges because of regulations preventing fraud: Bernie Madoff says "Hi."
It's a simplistic view because you are trying to equate the actions of 1 guy creating false statements on paper with the actions of a regulated exchange. They are 2 completely different animals.
Posted on 2/11/14 at 9:09 am to Broke
So, should I buy a Bitcoin, Broke? Can my investment guy just get me one? Can you flip them?
Posted on 2/11/14 at 9:12 am to CadesCove
quote:
So, should I buy a Bitcoin, Broke?
Probably not.
quote:
Can my investment guy just get me one?
Absolutely not.
quote:
Can you flip them?
Well periodically you can't remove your "funds" from the exchange so I don't know that you can do it with any measured efficiency.
Posted on 2/11/14 at 9:13 am to Broke
That's why I come to you on these things. Straight talk. 
Posted on 2/11/14 at 9:16 am to Merck
quote:sounds like there is no reason to regulate. LET IT BE DONE
Granted I'm not an investment banker so I have a simplistic view of the system, but this doesn't sound much different than a regular stock exchange to me. I have some common stock in Bank of America that my dad gifted to me several years ago and they never issued me the actual certificates. The only thing I have proving my ownership is the quarterly statement they send. In my eyes, that's just a piece of paper with a bunch of numbers on it. As for acting like BTC exchanges aren't like normal exchanges because of regulations preventing fraud: Bernie Madoff says "Hi
Posted on 2/11/14 at 9:25 am to CadesCove
quote:
That's why I come to you on these things. Straight talk.
I'm no expert on crypto currency and I think it eventually finds it's way into our monetary system somehow. But because of what bitcoin has become, I don't think it's the digital currency that is going to make it.
Posted on 2/11/14 at 9:41 am to Broke
quote:
I'm no expert on crypto currency and I think it eventually finds it's way into our monetary system somehow. But because of what bitcoin has become, I don't think it's the digital currency that is going to make it.
While in some ways I agree, bitcoin is really the only one that gets as much exposure as it does. It's the one that everybody knows about. If it fails to be the one that makes it in, I think it will ruin the chances of it happening across the board, at least for a while until everyone forgets about it but that could take a while.
Posted on 2/11/14 at 9:51 am to ThaKaptin
quote:
While in some ways I agree, bitcoin is really the only one that gets as much exposure as it does. It's the one that everybody knows about. If it fails to be the one that makes it in, I think it will ruin the chances of it happening across the board, at least for a while until everyone forgets about it but that could take a while.
I think it's too interesting at this point. The big boys are looking to get into the game but on some type of regulated side. Bitcoin could very well hang around as sort of a niche.
Posted on 2/11/14 at 10:29 am to Merck
quote:
As for acting like BTC exchanges aren't like normal exchanges because of regulations preventing fraud: Bernie Madoff says "Hi."
Yeah, that comparison is gonna instill a lot of confidence in bitcoin use
Posted on 2/11/14 at 11:26 am to League Champs
It hasn't exactly stopped anyone from trading stocks.
I was just pointing out the hypocrisy of acting like BTC is so monumentally stupid while ignoring the fact that its really not too dissimilar from common stocks.
I was just pointing out the hypocrisy of acting like BTC is so monumentally stupid while ignoring the fact that its really not too dissimilar from common stocks.
Posted on 2/11/14 at 11:28 am to Sho Nuff
quote:
What's the easiest way for me to pick up a couple of these BTC?
Think coinbase.com is good, not 100% positive though, I'm sure Wiki can verify other options as well.
Posted on 2/11/14 at 11:48 am to alexman
Dogecoin > Bitcoin.
Posted on 2/11/14 at 11:51 am to Merck
quote:
I was just pointing out the hypocrisy of acting like BTC is so monumentally stupid while ignoring the fact that its really not too dissimilar from common stocks.
When I own stock I own partial interest in an actual company, that has actual assets, and generates what I like to call "real revenue". If that isn't inherently different to you then I don't know what to tell you anymore.
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