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re: Bitcoin Exchange Mt. Gox lost $350 million worth of bitcoin?
Posted on 2/25/14 at 9:09 am to EarthwormJim
Posted on 2/25/14 at 9:09 am to EarthwormJim
Told wiki to cash out two months back 
0
Posted on 2/25/14 at 9:10 am to SlowFlowPro
quote:Cash can be a secret. And we've seen numerous cases where btc is NOT secretive. Anybody who uses the internet to spend/trade btc can be tracked and found if the government really wants to find them.
secrecy
quote:Cash is portable. I carry it with me all the time in my pocket.
portability
Posted on 2/25/14 at 9:10 am to OnTheBrink
quote:i want to buy one
BTW, I own 3 of these bad boys,
Posted on 2/25/14 at 9:10 am to LSURussian
quote:Not sure off the top of my head, but I think of third world type countries with corrupt governments where they had like 10,000% inflation over relatively short period of time.
What government currency has lost 50% of its value in 24 hours like BTC did yesterday?
Posted on 2/25/14 at 9:11 am to SlowFlowPro
quote:
i want to buy one
Ha, go to amazon. Picked 3 up for about $7 total, shipping and all.
Posted on 2/25/14 at 9:12 am to EarthwormJim
Jim that was their own cold wallet they were stealing from. Not someone else's.
This post was edited on 2/25/14 at 9:13 am
Posted on 2/25/14 at 9:13 am to SlowFlowPro
quote:
the world powers will squash it like a bug.
quote:
above ground this is possible
under ground? not as easy
Don't doubt for a second there are government entities that can access what are considered the "deepest" parts of the web. There is one inherent weakness that even the most "secret" crypto-currencies" will never be able to get around. That is the fact that all the infrastructure the world wide internet is built on is for all intents and purposes wholly controlled by some government. If one computer is talking to anther computer the US government can (and probably already is) listening.
Until someone comes with with a whole new internet that does not use any of the current communication means in use today, cryptocurrencies will only exist so long as the governments of the world allow them to exist.
Posted on 2/25/14 at 9:17 am to stout
quote:No, it's not. I've worked in 27 countries and I've moved money between many of them without any problems. It can be done in minutes with a guaranteed arrival with safeguards.
Moving between countries easier.
I've gone to ATM's in a dozen countries and withdrew local currency cash that was automatically converted to USD from my Chase Bank account and was charged a transaction fee of $3.50. And I got a better exchange rate doing that than if I went to a currency exchange in those countries.....probably made up most if not all of the $3.50 from the better exchange rate.
Posted on 2/25/14 at 9:20 am to SlowFlowPro
quote:They are on eBay all the time. I have a couple of them myself. I've left them as tips at restaurants.....
BTW, I own 3 of these bad boys,
i want to buy one
Posted on 2/25/14 at 9:20 am to LSURussian
quote:
I've left them as tips at restaurants
Geez, was service that bad?
Posted on 2/25/14 at 9:21 am to EarthwormJim
To my alt economic blog, libertarian, anti-Fed, doomer porn, tinfoil whackjob homies.
We welcome you back to the goldbug/hard assets camp. We tried to warn ya.
We welcome you back to the goldbug/hard assets camp. We tried to warn ya.
Posted on 2/25/14 at 9:27 am to OnTheBrink
quote:
Geez, was service that bad?
I've also left old silver coins as tips. For example, an 1858, seated Liberty half-dollar with an "O" mint mark. (New Orleans mint.) Or, an 1899 Morgan silver dollar with an O mint mark.
I usually give the waiter/waitress the choice: 20% USD tip or the collectible silver coin?
They almost always take the coin.
I only do it when the coin is approximately as valuable as the tip would be (I'm not going to cheat them) and I do it more for the novelty experience for the waiter/waitress. Their reactions are priceless!
Posted on 2/25/14 at 9:29 am to stout
A question for those that know how the bitcoin code works better than I do:
Does the MtGox problem mess up the math/algorithm of bitcoin?
Does the MtGox problem mess up the math/algorithm of bitcoin?
Posted on 2/25/14 at 9:30 am to Salmon
quote:
"LOL I got out of Mt. Gox weeks ago. I'm in [insert other bitcoin exchange] and it is much more secure. Nothing to worry about here."
I was never in mt gox.
I keep my bitcoin in my own personal wallet anyways, offline.
Posted on 2/25/14 at 9:34 am to Darth_Vader
quote:
Don't doubt for a second there are government entities that can access what are considered the "deepest" parts of the web.
any 14 year old with Tor can do this
Posted on 2/25/14 at 9:39 am to TH03
quote:
any 14 year old with Tor can do this
And that is why bitcoin nor any of it's contemporaries will ever be a serious threat to any major world currency.
Posted on 2/25/14 at 9:41 am to Darth_Vader
what?
bitcoin has nothing to do with the Tor network, other than underground blackmarket sites that use it as payment.
I can mine, buy/sell, transfer, etc bitcoin without touching the Tor network.
bitcoin has nothing to do with the Tor network, other than underground blackmarket sites that use it as payment.
I can mine, buy/sell, transfer, etc bitcoin without touching the Tor network.
Posted on 2/25/14 at 9:41 am to TH03
quote:
I keep my bitcoin in my own personal wallet anyways, offline.
That was I was asking several weeks ago on the MT, when news of this first surfaced. I was under the impression that everyone had a wallet and kept their coins there. I guess that's not the case.
Posted on 2/25/14 at 9:51 am to TH03
quote:
what?
bitcoin has nothing to do with the Tor network, other than underground blackmarket sites that use it as payment.
I can mine, buy/sell, transfer, etc bitcoin without touching the Tor network.
I'm not talking about just the Tor network. Even if you don't use the Tor network your bitcoin transactions are almost 100% certainty still taking place in the full view and knowledge of the US government so long as you are using any electronic device that is connected to the internet.
And that is why bitcoins will really never be able to replace traditional currency.
Posted on 2/25/14 at 9:54 am to EarthwormJim
quote:
Bitcoin Exchange Mt. Gox lost $350 million worth of bitcoin?
So he lost nothing essentially
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