http://www.businessinsider.com/is-bitcoin-collapsing-2013-11

11/18/2013 12:44:24 PM

Quote :

"-There's been a rash of bitcoin thefts. -There's been a computer virus spreading, demanding people fork over bitcoins."

What the fuck does this have to do with the currency crashing? Why are people acting like scams and heists are a new phenomenon?

I'd like to read the original article but you have to register. Register to read a blog post?

11/18/2013 1:34:09 PM

^ because since they're entirely digital, any single technical flaw could result in entire accounts being drained. This isn't really possible with actual monies.

11/18/2013 1:44:52 PM

holy bitcoins. $600...

anyone want to buy mine?

11/18/2013 2:31:53 PM

Sure - $10

11/18/2013 3:38:47 PM

Quote :

"^ because since they're entirely digital, any single technical flaw could result in entire accounts being drained. This isn't really possible with actual monies."

If you're an idiot and leave all your money on your kitchen table, the same could happen.

If it's all in a bank account, your account could be hacked or your card stolen. If the bank reimburses you, it's not because they got the physical dollar bills back, but because they assumed liability.... I'm not sure what that has to do with dollar bills.

Not only that, but but none of these possibilities are new. Everyone is fully aware that these things can happen and the price is skyrocketing and that means ... a collapse somehow?

11/18/2013 3:55:21 PM

$727 lol


http://www.c-span.org/Live-Video/C-SPAN3/


Second panel at the senate hearing.

[Edited on November 18, 2013 at 4:41 PM. Reason : of/at]

11/18/2013 4:32:40 PM

785.5

This is a direct result of the "good vibes" from the senate hearing today, I think

11/18/2013 7:28:41 PM

$825

It's climbing a dollar every second. I expect it to crash even faster.

[Edited on November 18, 2013 at 7:46 PM. Reason : .]

11/18/2013 7:46:18 PM

Yeah it was climbing even after the first panel which didn't consist of any official "bitcoin advocates"

11/18/2013 8:00:40 PM

Peaked at $840 and falling. "Timber!"

Edit: Nevermind, it's at $850 in the past 10 seconds.


[Edited on November 18, 2013 at 8:08 PM. Reason : This shit is useless as an actual currency. A complete failure for its intended purpose.]

11/18/2013 8:05:04 PM

$865

[Edited on November 18, 2013 at 8:09 PM. Reason : 875]

[Edited on November 18, 2013 at 8:09 PM. Reason : $885]

[Edited on November 18, 2013 at 8:10 PM. Reason : $900]

[Edited on November 18, 2013 at 8:14 PM. Reason : Scaredy cats freaked out at $900, back at $800 now.]

[Edited on November 18, 2013 at 8:15 PM. Reason : LOLOLOLOLOLOL]

11/18/2013 8:07:25 PM

Ok, how are you guys selling them? Mtgox takes too long.


Is VirWox any good? Even though you have to go through intermediaries with Lindon Dollars?

11/18/2013 8:47:30 PM

coinbase

11/18/2013 8:51:51 PM

That crash to $600 was SPECTACULAR!

11/18/2013 8:59:52 PM

it's gonna break 1k.

11/18/2013 9:15:11 PM

i have buy orders at 500... i dont think they'll ever get filled.

11/18/2013 9:20:08 PM

The buys I made at $90, $120, and $260 aren't near as scary now.

The first time I bought, at $3, was with bitcoin local. I don't know if I'd feel comfortable doing that now that the price is so high.



[Edited on November 19, 2013 at 12:29 AM. Reason : a]

11/19/2013 12:27:08 AM

This is so awesome.

11/19/2013 2:28:29 PM

http://mobile.theverge.com/2013/11/22/5133362/richard-branson-endorses-bitcoin-says-virgin-galactic-will-accept-the

Bitcoin to space!

11/22/2013 12:46:32 PM

We got a small run going here, brace for quad digits folks.

11/26/2013 2:40:46 PM

GeniusBoy is probably jizzing all over himself for being right about something once in his life

11/26/2013 4:06:51 PM

As annoying as he was he has a better record than smc.

11/26/2013 4:21:37 PM

lol true

11/26/2013 4:28:05 PM

I tried to paypal him for some BTC a while back and he was not having it. I ended up using bitinstant and it was seamless. But yeah, he was following that shit like a hawk and I think at the 100 mark I was like yo he retired, but turned out he was just suspended.

11/26/2013 6:42:01 PM

$1020. Four digits.

11/27/2013 10:02:56 AM

I put my life savings into bitcoins last week at $602. I'm rich!

11/27/2013 3:20:41 PM

Quote :

"really the only thing this currency had going for it was the pseudo-anonymous aspect and the press from shit such as the ability to purchase drugs from Silk Road. Once they closed their doors to new members, it served as a ball peen hammer to bitcoin's coffin. The recent hax just introduced a pressurized nail gun into the equation. "

2011 me was an idiot.

11/27/2013 4:05:55 PM

Not really. The government is still going to shut this all down eventually. Downtrodden bitcoin investors might even beg them to do so after "the big crash". "Please Feds, it may be too late for me, but please just promise you won't let anyone be swindled by a scheme like this in the future." Next stop, the False Currency Prevention Act of 2015.

11/27/2013 4:24:30 PM

there's a ton of uses for it not tied to monetary value at all, just today I heard about a way to use the blockchain to timestamp documents

11/27/2013 4:35:37 PM

Quote :

" GeniusBoy is probably jizzing all over himself for being right about something once in his life "

That's what makes me skeptical of btc. It's the gullible conspiracy theorists cranks, and 1 world hippies on my Facebook that support it.

I guess something doesn't have to be "right" or valid to succeed in this world, it just has to convince enough people to buy into it, which btc has.

11/27/2013 6:01:22 PM

Quote :

"Not really. The government is still going to shut this all down eventually. Downtrodden bitcoin investors might even beg them to do so after "the big crash". "Please Feds, it may be too late for me, but please just promise you won't let anyone be swindled by a scheme like this in the future." Next stop, the False Currency Prevention Act of 2015."

Based on the fact congress had a love fest about it last week? Or that it's a treasure trove of online data about spending? Maybe that it does away with need of notaries as mentioned above? Or that it allows people with no bank accounts to purchase online?

They'd be fucktarded to ban it.

11/27/2013 7:12:22 PM

Congress? Being Fucktarded?
It's more likely than you think...

11/28/2013 10:06:22 PM

If the 2014 elections result in another Republican rout, expect the fucktardedness to flow.

11/28/2013 10:57:45 PM

Has anyone sold yet?

Also are they generally pretty easy to sell at whatever the current price is?

11/29/2013 12:45:01 AM

1. Convert Bitcoin to blow on the new Silk Road.
2. Sell it all on the streets.
3. ???
4. PROFIT

11/29/2013 3:21:50 AM

^^to answer your question, it's deffo not easy to sell right now: http://buttcoin.org/easy

11/29/2013 8:49:25 AM

Quote :

"deffo"

FYI: You sound like a twat of the highest caliber every single time you use this "word".

11/29/2013 1:43:45 PM

it's the same guy that thinks "rethugnican" is cute, what do you expect?

11/30/2013 1:41:45 PM

anyone buying litecoins? or, other arbitrage in trading?

11/30/2013 5:53:41 PM

http://cryptojunky.com/blog/2013/12/01/signholder-receives-over-24000-in-bitcoin-after-qr-code-appears-on-espn/

Quote :

"Earlier today a Bitcoin newcomer reportedly received over 22 Bitcoin after holding up a sign with a Bitcoin QR code."

12/1/2013 1:09:14 PM

LOL

12/1/2013 4:22:03 PM

So they're "worth" $1000, but you can't sell them for that?

12/1/2013 7:42:52 PM

every time i roll my eyes at another person telling me they're "investing" in bitcoins, i find out the supposed value went up by some stupid amount and i have to tell myself NOT investing in bitcoins is the smart move

it's getting harder and harder, but a nagging part of brain continues to scream that this is utter bullshit

12/1/2013 9:04:52 PM

^^ you can certainly sell them. coinbase.com is what i use. i haven't had any problems.

i've also bought several gift cards through gyft.com. they accept btc, so its a good way to turn btc to usd.

12/2/2013 7:17:26 AM

I for one prefer POGs, flooz, and Beanie Babies when it comes to speculative investments.

12/2/2013 11:50:02 AM

how much did you loose?

12/6/2013 10:03:48 PM

Which one of you motherfuckers just bought a Tesla with this shit

12/8/2013 2:22:47 AM

Quote :

"but a nagging part of brain continues to scream that this is utter bullshit"

...because it is.


Bitcoin is not a viable monetary vehicle. It certainly isn't a currency. At best, it's a commodity. A highly illiquid, volatile, and risk-laden commodity. The fools who are bullish on BTC and all these derivative cryptocurrencies understand very little about how finance works, and will be crying hard when they realize their stupidity.

12/8/2013 11:33:10 AM

^

It could just be a useful instrument to purchase things online without giving your credit information or worry about how well they secure your information. The flow of purchasing virtual goods is vastly simpler and non virtual goods also better since you don't have to worry about a third party storing your credit information or jump through a bunch of hoops to prove who you are. That's not even getting into the multi way contract transaction it allows.

https://en.bitcoin.it/wiki/Contracts

I guess making people out to be morons for putting money in something so volatile makes a better topic than the actual utility. You can mitigate the risk, but that's another matter.

[Edited on December 8, 2013 at 5:16 PM. Reason : a]

12/8/2013 4:58:20 PM