Bitcoins were hacked yesterday? - Page 2 - TigerDroppings.com

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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56384 posts

re: Bitcoins were hacked yesterday?


quote:

Dollars are really backed up by faith in the economy,


Right. As a reflection of either a strong or weak GDP. The bitcoin economy at this point consists of haxors and butt pirates.






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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
29988 posts
 Online 

re: Bitcoins were hacked yesterday?


quote:

DDoS' happen every day to many websites, and it is simply an attacker using a botnet to overload a website. Usually the goal is to cost the victim money due to website down time (in effect holding it hostage), but in this case the goal was to create a panic sell-off.


Looks like Russian finally figured out a way to short bitcoins.






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Korkstand
LSU Fan
Plaquemine, LA
Member since Nov 2003
9641 posts

re: Bitcoins were hacked yesterday?


quote:

Why? What will it give you? A printout of a piece of paper with an encrypted code, that the lady at Wal-Mart will subsequently rip up when you try to pay for your Twinkies and pot pies.

It would function as a currency exchange. It will give you dollars and withdraw the equivalent bitcoins from your wallet, and it would probably let you put in dollars and deposit the equivalent into your bitcoin wallet.






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56384 posts

re: Bitcoins were hacked yesterday?


quote:

It will give you dollars and withdraw the equivalent bitcoins from your wallet, and it would probably let you put in dollars and deposit the equivalent into your bitcoin wallet.


Then why even frick with bitcoin if the end result is the USD? Am I missing something? Does bitcoin give free blowjobs or something?






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Lsut81
USA Fan
Member since Jun 2005
64630 posts
 Online 

re: Bitcoins were hacked yesterday?


quote:

Then why even frick with bitcoin if the end result is the USD? Am I missing something? Does bitcoin give free blowjobs or something?


Bc if the US dollar crashes, you always have your bitcoins that you can trade out for yen to use in the US


Oh yeah, and it cant be frozen.... Oh Wait



This post was edited on 4/4 at 12:36 pm


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Korkstand
LSU Fan
Plaquemine, LA
Member since Nov 2003
9641 posts

re: Bitcoins were hacked yesterday?


quote:

Then why even frick with bitcoin if the end result is the USD? Am I missing something? Does bitcoin give free blowjobs or something?

Yeah, you're missing the part where you have to use whatever currency is accepted wherever you are. Think of bitcoin as the currency of a virtual nation. These ATMs will exchange currency for you. Why do we even frick with regular ATMs? Because sometimes you just can't use a card or check.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
81249 posts

re: Bitcoins were hacked yesterday?


quote:

Looks like Russian finally figured out a way to short bitcoins.



Shhhhhhhhh.......






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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21247 posts

re: Bitcoins were hacked yesterday?


quote:

Why? What will it give you? A printout of a piece of paper with an encrypted code, that the lady at Wal-Mart will subsequently rip up when you try to pay for your Twinkies and pot pies.


1. You can put in cash (or debit cards, not sure how that will work) and scan the QR code of your wallet (or enter the key of your wallet) and bitcoins will be deposited into your account.

OR

2. Send your bitcoins and extract cash from the ATM

Also, the first one will be in LA.






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Lsut81
USA Fan
Member since Jun 2005
64630 posts
 Online 

re: Bitcoins were hacked yesterday?


quote:

Also, the first one will be in LA.


And it will be heavily taxed and regulated by the Govt...

All the joys y'all claimed bitcoins avoided






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
81249 posts

re: Bitcoins were hacked yesterday?


quote:

Think of bitcoin as the currency of a virtual nation.
Nah, it's more like a virtual gold. It's not currency but it can be exchanged to get currency when you need to buy something.

The same people who have been preaching gold is the best answer for sticking it to the Federal Reserve and the 'gubmint' for years on this board are now preaching bitcoins.

Except gold actually exists......






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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21247 posts

re: Bitcoins were hacked yesterday?


quote:

All the joys y'all claimed bitcoins avoided


Do you enjoy creating strawmans this much?

Right, you can be heavily taxed and regulated using bitcoin if you choose to use it that way. If you choose to do it pseudonymously you can work around that.

It gives you the option to be pseudonymous, it doesn't do it for you though.

Plus, those were never among the reasons I've liked bitcoin, you can check my post history if you'd like.






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Korkstand
LSU Fan
Plaquemine, LA
Member since Nov 2003
9641 posts

re: Bitcoins were hacked yesterday?


quote:

Nah, it's more like a virtual gold. It's not currency but it can be exchanged to get currency when you need to buy something.

A valid criticism, and the main reason I think it will be difficult for bitcoin to move out of experimental territory and into mainstream use. It is very successful as far as experiments go, and I think it's a good proof of concept.
quote:

Except gold actually exists......

This criticism is less valid, I think. Do your digital photos not exist?






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
81249 posts

re: Bitcoins were hacked yesterday?


quote:

Do your digital photos not exist?

Not like gold does.






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Korkstand
LSU Fan
Plaquemine, LA
Member since Nov 2003
9641 posts

re: Bitcoins were hacked yesterday?


quote:

Not like gold does.

What about your intellectual property? Does it exist? Does it have value?






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Putty
LSU Fan
Member since Oct 2003
21177 posts
 Online 

re: Bitcoins were hacked yesterday?


quote:

That's what it sounds like. I'm so relieved.


screw that...I'm putting everything back into dinar.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
81249 posts

re: Bitcoins were hacked yesterday?


quote:

Does it exist? Does it have value?

Not according to the bitcoin true believers.






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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21247 posts

re: Bitcoins were hacked yesterday?


Bitcoins are not intellectual property.





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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
21599 posts

re: Bitcoins were hacked yesterday?


quote:

Bitcoins are not intellectual property


why do you say that? Why is a hash different than words in a book?






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Korkstand
LSU Fan
Plaquemine, LA
Member since Nov 2003
9641 posts

re: Bitcoins were hacked yesterday?


quote:

Not according to the bitcoin true believers.

I was asking you what you believe. Can a concept, idea, information, or anything that doesn't physically exist have value? Surely your answer is "yes".

This is beside the fact that bitcoins "exist" as bits on hard drives, and can be represented in paper form much like a gold certificate.






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Korkstand
LSU Fan
Plaquemine, LA
Member since Nov 2003
9641 posts

re: Bitcoins were hacked yesterday?


quote:

Bitcoins are not intellectual property.

I wasn't saying they are. I used IP as an example because it, like bitcoins, doesn't physically exist, but can still have value.






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