Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - 10/31/13 | Page 2 | TigerDroppings.com
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Envy
LSU Fan
Garden District
Member since Mar 2011
1894 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k

How come this shite never happens to me...

Is it because I'm not Norwegian?!



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TH03
Notre Dame Fan
Member since Dec 2008
103153 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
his reply will be that you can't but directly from the airline with bitcoins.


pwned!!!


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58493 posts
Online

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

It is the only secure way to spend money online.


I use a credit card. Seems pretty secure to me. I'm protected. How protected are bitcoin users? How about the silk road dude who had all his bitcoin taken?


JimMorrison
South Carolina Fan
The Peninsula
Member since May 2012
16823 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
Saw this earlier. What a fricking score.

Curious as to why he only invested $27. Why not throw $100 or so at the time? He'd almost be OT balling if he had.


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58493 posts
Online

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

his reply will be that you can't but directly from the airline with bitcoins.


And you are correct. You can send some person you don't know your bitcoin and hope they send you an airline ticket


CaptainsWafer
USA Fan
Bone it like you own it.
Member since Feb 2006
42744 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
I'm sure he wasn't out to make this happen or he:

A. Would've invested more than $27 to start
2. Would not have forgotten about it


TreyAnastasio
Alabama Fan
Bitch I'm From Cleveland
Member since Dec 2010
46569 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

use a credit card. Seems pretty secure to me




quote:

How protected are bitcoin users?


As secure as someone using cash in the real world. The only thing you can lose is what you have on you. It cant be linked back to your checking account or used for identity theft.

quote:

How about the silk road dude who had all his bitcoin taken?


He was breaking the law.


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JimMorrison
South Carolina Fan
The Peninsula
Member since May 2012
16823 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

How about the silk road dude who had all his bitcoin taken?


You talking about the owner? He still has all of his money because they're in encrypted wallets.

The bitcoin that was taken was in SR's escrow.


Envy
LSU Fan
Garden District
Member since Mar 2011
1894 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

Why not $100
Wouldn't that be ~$3.2M


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TH03
Notre Dame Fan
Member since Dec 2008
103153 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

And you are correct. You can send some person you don't know your bitcoin and hope they send you an airline ticket


yes, bitcoin is the only currency vulnerable to scam artists.


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58493 posts
Online

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
I'm not going to argue with the monetarily uninformed. We take care of these issues on the money board.


TreyAnastasio
Alabama Fan
Bitch I'm From Cleveland
Member since Dec 2010
46569 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
You think using a credit card online is secure and dont understand the value of bitcoin, but we are the uninformed ones.


LSUzealot
New Orleans Saints Fan
Napoleon and Magazine
Member since Sep 2003
57101 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
all these people in the thread making love to bitcoin....let's take a stab at how much of their income is in a bank account vs bitcoin

I'd be willing to bet .000001%



TreyAnastasio
Alabama Fan
Bitch I'm From Cleveland
Member since Dec 2010
46569 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

all these people in the thread making love to bitcoin....let's take a stab at how much of their income is in a bank account vs bitcoin

I'd be willing to bet .000001%


I dont own any bitcoin, but I understand why it is valuable now, and why its value will continue to increase as the majority of sales will be internet based in the future.


bbap
Indiana Fan
Baton Rouge, LA
Member since Feb 2006
85155 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
what is unsecure about using a credit card online?


JimMorrison
South Carolina Fan
The Peninsula
Member since May 2012
16823 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
Yeah obviously he didn't take his investment too seriously, but $100 isn't a lot to invest with. I was just wondering why he wouldn't invest a more round number than an odd small amount.

He did have an idea of the potential return or he wouldn't have invested at all.


LSUzealot
New Orleans Saints Fan
Napoleon and Magazine
Member since Sep 2003
57101 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

I dont own any bitcoin,



quote:

its value will continue to increase


put your money where your mouth is bud


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JimMorrison
South Carolina Fan
The Peninsula
Member since May 2012
16823 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

I'm not going to argue with the monetarily uninformed.


I'm not into bitcoin so it's entirely possible I said something inaccurate.

I was just going off of what I read on reddit when SR was shut down.


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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58493 posts
Online

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

You think using a credit card online is secure and dont understand the value of bitcoin, but we are the uninformed ones.


Let's see.... which one of us is a financial professional and an adjunct econ/fin prof? Which one of us has studied monetary policy at great lengths? Oh yeah, me.


TreyAnastasio
Alabama Fan
Bitch I'm From Cleveland
Member since Dec 2010
46569 posts

re: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k
quote:

what is unsecure about using a credit card online?


Im not a hacker, so I cant give you specifics on how it happens, but credit card numbers used to buy stuff online are compromised all the time. So when someone gets your CC number they can go to town on it and run up your credit card. If they get your bitcoin, you are only out what they scammed you for. Think of bitcoin as online travelers checks.


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