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Kris
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https://twitter.com/bitcoin_txt

4/11/2013 10:17:47 PM

jaZon
All American
26978 Posts
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^ LOL

4/12/2013 12:45:19 PM

Shaggy
All American
17820 Posts
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4/12/2013 12:56:02 PM

wdprice3
BinaryBuffonary
45906 Posts
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ruh roh

4/12/2013 1:34:41 PM

goalielax
All American
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"By people being easily manipulated, do you mean NSA super computers running the numbers to shut bit coin down?"

4/12/2013 7:14:47 PM

face
All American
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Kris im not sure what you meant. love that i posted what?

4/13/2013 7:03:11 PM

Kris
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It was the timing.

4/14/2013 10:54:06 AM

face
All American
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im not following...

4/14/2013 3:32:54 PM

Kris
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I don't know another way to explain it.

4/14/2013 4:06:11 PM

FuhCtious
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Seriously, you're not following? The timing that you were bragging on the increase in value of Bitcoins and then the bottom fell out. I just popped into this thread to see what was up and only read the last two pages and that was pretty clear. The irony is compounded even more because this thread was dead for over a year and a half and then the day after you revive it, the shit hits the fan.

I mean, you make a lot of predictions, face, so if you're going to take credit for getting things right, then you have to admit this one was pretty bad.

[Edited on April 14, 2013 at 10:19 PM. Reason : sd]

4/14/2013 10:17:08 PM

smc
All American
9221 Posts
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Hey guys, I've been away for the last few weeks. Did I miss anything?

4/14/2013 10:22:51 PM

Førte
All American
23523 Posts
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hey guys, just got back from Wall Street, what are bitcoins trading at?

4/14/2013 11:20:09 PM

face
All American
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huh? What predictions did i make?

the only prediction im seeing is when i thought it might be a good investment on page 2. and its up like 700% since then how is that a bad prediction?

I revived the thread because bitcoin was all over the news for exploding and breaking through $200. I hadn't followed it in months but it was front page news couldnt miss it.

[Edited on April 14, 2013 at 11:28 PM. Reason : a]

4/14/2013 11:27:41 PM

lewisje
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good investment = speculation apparently

anyway it turns out Bitcoin could make better inroads in the developing world: http://techcrunch.com/2013/04/13/beyond-the-bitcoin-bubble/

4/15/2013 5:20:36 AM

Kris
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Quote :
"the only prediction im seeing is when i thought it might be a good investment on page 2. and its up like 700% since then how is that a bad prediction?"


It's up 700% and has absolutely nothing behind it. No assets, no ideas, no buildings, no cash, nothing. I wouldn't recommend that to anyone because it could disappear tommorrow. This isn't to say that there's no value in it, just that it's near impossible to accurately valuate.

4/15/2013 9:10:03 AM

Str8Foolish
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I love the folks saying "Guys! It IS a great currency EXCEPT for the actions of the media/speculators/ideologues/any of the other forces that act on all the other currencies as well."

[Edited on April 15, 2013 at 10:44 AM. Reason : .]

4/15/2013 10:43:33 AM

mbguess
shoegazer
2953 Posts
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Krugman on Bitcoin. An interesting read but I found more insight in the dissenting comments.

http://www.nytimes.com/2013/04/15/opinion/krugman-the-antisocial-network.html

4/15/2013 10:55:07 AM

CaelNCSU
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^

The biggest problem I have with his analysis is this:
Quote :
"along with the peculiar “mining” process — actually a process of complex calculation — used to add to the bitcoin stock."


Mining is not peculiar and it's not just used to add more bitcoins. It's a solution to Byzantine Generals' problem which prevents double spends.
http://pages.cs.wisc.edu/~sschang/OS-Qual/reliability/byzantine.htm

[Edited on April 15, 2013 at 12:05 PM. Reason : a]

4/15/2013 12:05:08 PM

Str8Foolish
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It's a bit peculiar to have to expend actual resources (computing power) to generate the coins. Krugman had a post earlier on his blog that dropped an Adam Smith quote on the subject:

Quote :
"The gold and silver money which circulates in any country, and by means of which, the produce of its land and labour is annually circulated and distributed to the proper consumers, is, in the same manner as the ready money of the dealer, all dead stock. It is a very valuable part of the capital of the country, which produces nothing to the country. The judicious operations of banking, by substituting paper in the room of a great part of this gold and silver, enable the country to convert a great part of this dead stock into active and productive stock; into stock which produces something to the country. The gold and silver money which circulates in any country may very properly be compared to a highway, which, while it circulates and carries to market all the grass and corn of the country, produces itself not a single pile of either. The judicious operations of banking, by providing, if I may be allowed so violent a metaphor, a sort of waggon-way through the air, enable the country to convert, as it were, a great part of its highways into good pastures, and corn fields, and thereby to increase, very considerably, the annual produce of its land and labour. "

4/15/2013 12:19:34 PM

moron
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If bit coins became more than just a gambling game, and became money, it could be argued that the pursuit of more powerful computers or algorithms to do the mining is likewise helps make it a "live stock" in that sense.

But to my recollection, there's a finite number of bitcoins to be mined, which means the value would again be based on literally nothing.

4/15/2013 12:28:06 PM

dtownral
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question-

if bitcoins don't fail and level off, I might want to gamble with some. i'm worried about how secure they are, i keep reading about transaction sites getting hacked and bitcoins stolen, how do you purchase and sell bitcoins securely?

4/15/2013 12:48:01 PM

mbguess
shoegazer
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Quote :
"It's a bit peculiar to have to expend actual resources (computing power) to generate the coins"


I view the whole mining process as an incentive to drive forward the computational expenditure required to maintain blockchain integrity. I wonder what will happen when all of the coins are discovered and there is no longer any incentive to mine. I imagine they will institute some sort of transaction fee for transactions when we reach that point. Either way you need some sort of carrot to keep people mining.

4/15/2013 2:10:07 PM

CaelNCSU
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^

It already works that way. Transaction fees go to the miners and are in place so you can't DDoS the network by making a bunch of 0.00001 transactions.

If people continue to use it there will be a point where transaction fees per block > mining.

4/15/2013 2:24:34 PM

moron
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http://gizmodo.com/5994446/digital-drills-the-monster-machines-that-mine-bitcoin?utm_campaign=socialflow_gizmodo_facebook&utm_source=gizmodo_facebook&utm_medium=socialflow

Good article on the hardware it takes. It's getting pretty beefy, but not very generalized (so of very little general utility, or innovation).

4/15/2013 3:15:10 PM

goalielax
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wasn't someone trying to say for $2k you could get a machine that would make $400 a day? maybe it was in the tech talk thread.

4/15/2013 10:11:19 PM

Roflpack
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Quote :
"I mean, you make a lot of predictions, face, so if you're going to take credit for getting things right, then you have to admit this one was pretty bad."


That's what I'm saying. But he makes more money than all of us put together on his predictions, he's like the Bill Gates of Vegas.

4/19/2013 10:00:48 PM

CaelNCSU
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Quote :
"It's a bit peculiar to have to expend actual resources (computing power) to generate the coins. Krugman had a post earlier on his blog that dropped an Adam Smith quote on the subject:"


You HAVE to expend resources to keep double spends from happening. Since that was required anyway they just coupled the creation to it as an incentive.

If you'd of bought after the "crash" to $70 you'd of made 60% today. Gambling ftw.

4/19/2013 10:16:18 PM

spöokyjon

18617 Posts
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of != have

4/19/2013 11:07:20 PM

goalielax
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why is crash in parentheses? it went from $266 to $54 in less than 24 hours. on Black Monday the DJIA only had a 22.6% drop. child's play compared to the bitcoin

4/21/2013 10:44:22 PM

lewisje
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They're called "quotation marks" and the likely reason is that after the crash, Bitcoin was still trading much higher against the dollar than at the beginning of 2013.

4/22/2013 12:35:27 AM

dtownral
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Ao how do I buy these without having them stolen or hacked?

4/22/2013 7:57:17 AM

jwb9984
All American
14039 Posts
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Stash them in your mattress

4/22/2013 8:35:28 AM

Cherokee
All American
8256 Posts
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^^encrypted thumbdrive

4/22/2013 11:08:25 PM

FuhCtious
All American
11955 Posts
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Did I read somewhere that like 10-20% of all bitcoins ever made have been stolen or hacked?

4/23/2013 7:45:56 AM

CaelNCSU
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Just put the wallet on a thumb drive and put it in a safe deposit box. Be sure not to click on any executables or use flash or java in the browser. Standard computer security will get you a long way.

4/23/2013 9:10:23 AM

mbguess
shoegazer
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Quote :
"In Kreuzberg, Berlin, virtual currency Bitcoin has expanded off the internet to become a favoured medium of exchange in real shops and bars. Joerg Platzer, the owner of bar Room 77 is helping to establish what he believes to be the world's first Bitcoin local economy"


http://www.guardian.co.uk/technology/video/2013/apr/26/bitcoin-currency-moves-offline-berlin-video?CMP=twt_gu

4/26/2013 9:26:56 AM

goalielax
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today, it buys you a beer, tomorrow the entire bar, and the day after you can't even afford the cardboard box you're living in

4/28/2013 12:26:30 AM

lewisje
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well well well Mt. Gox is going down: http://buttcoin.org/this-is-how-royally-screwed-mt-gox-is-right-now

5/22/2013 10:05:14 PM

smc
All American
9221 Posts
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I don't even feel sorry for you guys anymore.

5/22/2013 10:10:17 PM

CaelNCSU
All American
6780 Posts
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The money in my bank account doesn't feel sorry for you either.

5/23/2013 1:30:39 PM

skokiaan
All American
26443 Posts
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What's the bitcoin-to-pog conversion rate?

5/24/2013 6:52:57 AM

lewisje
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still eleventy billion imo

5/24/2013 7:36:05 AM

lewisje
All American
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bamp

10/2/2013 3:57:17 PM

aaronburro
Sup, B
52145 Posts
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bitcoin pwnt. stay home

10/2/2013 10:19:46 PM

CaelNCSU
All American
6780 Posts
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It's been on another meteoric rise. Hit $307 today.

11/7/2013 7:55:20 AM

ussjbroli
All American
4518 Posts
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$750 now... Gotta burst soon

11/18/2013 9:08:46 PM

LoneSnark
All American
12317 Posts
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Anyone know what the high was? It looks on the chart to have been in the $900 territory.

11/19/2013 8:21:05 AM

eyewall41
All American
2204 Posts
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I definitely missed the boat on this if they are valued that high now! I would be cashing at least some of them out.

11/19/2013 9:46:47 AM

CaelNCSU
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You could sell for $900 on Mt Gox, but it quickly sunk down after it hit that. It looked like there was a wall of sellers at $1000, but it never got that high.

It's highly volatile now, who knows where it will go after today. I predict it to fall again to some relatively high point and settle out, but not after a bunch of huge swings where the value doubles and halves over and over.

11/19/2013 11:32:19 AM

Dentaldamn
All American
9974 Posts
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This thread makes me want to vomit.

I fucked up!!!!!!!!

12/3/2013 9:22:54 PM

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