re: Daily Bitcoin Article

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Or maybe it's because nobody wants to lend money to a risky venture in a virtually lawless country full of criminals and miscreants.

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Nigerians and bitcoin are made for each other.

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It also explains why there are over 120 alt coins that have branched off of bitcoin and have their own followers and true believers.



In the future there will be millions of alt-coins.

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Please tell me your business classes which you've said on here that you're taking at the University of Florida are NOT teaching you that having millions of different currencies promotes efficiencies in trade and commerce.

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The only person in the business college whose opinion on cryptocurrencies matters to me is the sole cryptographer in the ISOM department. He initially raised the same concerns you had and he conceded that it appears to not matter currently and doesn't think it will in the future.

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And the only person on this board whose opinion on cryptocurrencies matters to me is.....





...wait for it......














.....wait..........
















ME!

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Why would this happen? Why have all of Mt Gox's tweets been removed?

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Because you don't understand cryptography, silly.

Seriously, I don't know. MtGox is still trading bitcoins whatever the significance that might be.

From your link....

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(Reuters) - Cyber criminals have infected hundreds of thousands of computers with a virus called "Pony" to steal bitcoins and other digital currencies, in the most ambitious cyber attack on virtual money uncovered so far, according to security firm Trustwave.

Trustwave said on Monday that it has found evidence that the operators of a cybercrime ring known as the Pony botnet have stolen some 85 virtual "wallets" that contained bitcoins and other types of digital currencies. The firm said it did not know how much digital currency was contained in the wallets.

"It is the first time we saw such a widespread presence of this type of malware. It was on hundreds of thousands of machines," said Ziv Mador, security research director with Chicago-based Trustwave.

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To all of the people demonstrating against Mt Gox or if you have money and want something done about it, Japan says eff off.

You wanted the wild west, you got it.

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"Bitcoin isn't a currency; it works as an alternative to currencies, like gold," an FSA spokesman said Monday. "The FSA is in charge of currency-based services. Therefore, bitcoin exchanges are not a subject to our regulatory oversight."

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It's not a problem with bitcoin, it's the users that are idiots. Am I doing this right?

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Yes, you are. Then there's this quote from the link above....

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A representative for the Bitcoin Foundation, a trade group that promotes adoption of the virtual currency, advised bitcoin users to store their currency offline in a secure location to prevent cyber criminals from stealing them.

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Every time we learn more about bitcoin, it seems the "convenience" advantage of bitcoin is an illusion. Now bitcoin is a virtual, digital currency that's only advisable to have if you don't store it on your computer.

Sounds really convenient to use, right?

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Or phone

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True. I forgot about that.

But I will remember it the next time joshie tells us how convenient it is to use your smartphone to pay for something with btc.

Thanks for the heads up on that...

He needs to update his post:

1. Takes out his phone
2. Opens up his Coinbase wallet
3. Scans the QR code
4. Hits enter
5. Finds out his btc have been stolen off of his phone and he needs real money to pay for his gum.

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I miss wiki. I hope the poor kid isn't trapped in Japan after Gox pulled the rug out from under him.

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It looks like his last post on TigerDroppings was 10 days ago (2/14/14) on the Help Board. He jumped into a thread to lend support to another poster who started the thread claiming I was stalking him but neither an admin nor Chicken agreed I was stalking.

Wiki claimed in that thread that I stalked him, too, when I used the first initial of his name in a post. But another poster and I both reminded him he used his real name as his screen name before he changed it to wikitiger.

Wiki is probably just pouting (or embarrassed) about that.