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+ Show Spoiler +On January 29 2014 18:17 tokinho wrote:Show nested quote +On January 29 2014 14:41 zatic wrote:There is no vice president of Bitcoin. They are prosecuting a by now rather unimportant Bitcoin exchange. Very good overview over Bitcoin: The first half hour won't be terribly new to anyone who is familiar with Bitcoin, but the expert uses interesting approaches to explain Bitcoin. The second half is an excellent outlook to the yet unexplored potential of the Bitcoin network, namely scripted transactions. Highly recommended. From the article it clearly states: "Among those charged on Monday was Charlie Shrem, vice president of the Bitcoin Foundation" Yes. There is a vice president and he's in trouble.
http://money.cnn.com/2014/02/25/technology/security/mtgox-bitcoin/index.html?hpt=hp_t1
All y'all saying i don't know or ignoring my warning. Haters gon' hate.
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Are you really smug because you told random shit that is factually incorrect, and then something bad happened afterwards that is very, very roughly related to what you said?
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Bisutopia19152 Posts
Can we rename to "Told you so thread" yet?
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United States41950 Posts
On February 26 2014 03:15 tokinho wrote:+ Show Spoiler +On January 29 2014 18:17 tokinho wrote:Show nested quote +On January 29 2014 14:41 zatic wrote:There is no vice president of Bitcoin. They are prosecuting a by now rather unimportant Bitcoin exchange. Very good overview over Bitcoin: http://www.youtube.com/watch?v=SNssKmeXrGsThe first half hour won't be terribly new to anyone who is familiar with Bitcoin, but the expert uses interesting approaches to explain Bitcoin. The second half is an excellent outlook to the yet unexplored potential of the Bitcoin network, namely scripted transactions. Highly recommended. From the article it clearly states: "Among those charged on Monday was Charlie Shrem, vice president of the Bitcoin Foundation" Yes. There is a vice president and he's in trouble. All y'all saying i don't know or ignoring my warning. Haters gon' hate.
How do you still not get how stupid what you're saying is? There is no more a Vice President of Bitcoin than there is a Vice President of friendship. It's a mechanism of exchange, not a company. Nobody owns Bitcoin. The fact that you still think that you're right is truly staggering.
You said something really, really, insanely stupid and then a bunch of people called you out on it and then something completely unrelated to the point you were trying to make happened and then you said "I told you so". I guess even you don't understand your own point. Why you'd resurrect your own idiocy so we could all ridicule you for it again I have no idea. Maybe you're just a masochist. Dunning-Kruger in effect.
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"The best part about bitcoins is that you get to watch libertarians slowly discover why financial regulations exist to begin with"
Anyway I think it's kind of funny that 6% of all bitcoins get stolen and people still act like the whole thing is the best thing that has ever happened.
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Zurich15313 Posts
On February 27 2014 00:04 Djzapz wrote:Show nested quote +On February 26 2014 23:38 KwarK wrote:On February 26 2014 03:15 tokinho wrote:+ Show Spoiler +On January 29 2014 18:17 tokinho wrote:Show nested quote +On January 29 2014 14:41 zatic wrote:There is no vice president of Bitcoin. They are prosecuting a by now rather unimportant Bitcoin exchange. Very good overview over Bitcoin: http://www.youtube.com/watch?v=SNssKmeXrGsThe first half hour won't be terribly new to anyone who is familiar with Bitcoin, but the expert uses interesting approaches to explain Bitcoin. The second half is an excellent outlook to the yet unexplored potential of the Bitcoin network, namely scripted transactions. Highly recommended. From the article it clearly states: "Among those charged on Monday was Charlie Shrem, vice president of the Bitcoin Foundation" Yes. There is a vice president and he's in trouble. All y'all saying i don't know or ignoring my warning. Haters gon' hate. How do you still not get how stupid what you're saying is? There is no more a Vice President of Bitcoin than there is a Vice President of friendship. It's a mechanism of exchange, not a company. Nobody owns Bitcoin. The fact that you still think that you're right is truly staggering. You said something really, really, insanely stupid and then a bunch of people called you out on it and then something completely unrelated to the point you were trying to make happened and then you said "I told you so". I guess even you don't understand your own point. Why you'd resurrect your own idiocy so we could all ridicule you for it again I have no idea. Maybe you're just a masochist. Dunning-Kruger in effect. VP of the Bitcoin Foundation, it's a thing. Get your stuff together Mr. Kwark.
Bitcoin Foundation != Bitcoin.
Kwark is right, this thread is an amazing example of Dunning-Kruger in effect.
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On February 27 2014 00:05 zatic wrote:Show nested quote +On February 27 2014 00:04 Djzapz wrote:On February 26 2014 23:38 KwarK wrote:On February 26 2014 03:15 tokinho wrote:+ Show Spoiler +On January 29 2014 18:17 tokinho wrote:Show nested quote +On January 29 2014 14:41 zatic wrote:There is no vice president of Bitcoin. They are prosecuting a by now rather unimportant Bitcoin exchange. Very good overview over Bitcoin: http://www.youtube.com/watch?v=SNssKmeXrGsThe first half hour won't be terribly new to anyone who is familiar with Bitcoin, but the expert uses interesting approaches to explain Bitcoin. The second half is an excellent outlook to the yet unexplored potential of the Bitcoin network, namely scripted transactions. Highly recommended. From the article it clearly states: "Among those charged on Monday was Charlie Shrem, vice president of the Bitcoin Foundation" Yes. There is a vice president and he's in trouble. All y'all saying i don't know or ignoring my warning. Haters gon' hate. How do you still not get how stupid what you're saying is? There is no more a Vice President of Bitcoin than there is a Vice President of friendship. It's a mechanism of exchange, not a company. Nobody owns Bitcoin. The fact that you still think that you're right is truly staggering. You said something really, really, insanely stupid and then a bunch of people called you out on it and then something completely unrelated to the point you were trying to make happened and then you said "I told you so". I guess even you don't understand your own point. Why you'd resurrect your own idiocy so we could all ridicule you for it again I have no idea. Maybe you're just a masochist. Dunning-Kruger in effect. VP of the Bitcoin Foundation, it's a thing. Get your stuff together Mr. Kwark. Bitcoin Foundation != Bitcoin. Kwark is right, this thread is an amazing example of Dunning-Kruger in effect.
Yes I went back and saw the guy's confusion. My bad.
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United States41950 Posts
On February 27 2014 00:07 Djzapz wrote:Show nested quote +On February 27 2014 00:05 zatic wrote:On February 27 2014 00:04 Djzapz wrote:On February 26 2014 23:38 KwarK wrote:On February 26 2014 03:15 tokinho wrote:+ Show Spoiler +On January 29 2014 18:17 tokinho wrote:Show nested quote +On January 29 2014 14:41 zatic wrote:There is no vice president of Bitcoin. They are prosecuting a by now rather unimportant Bitcoin exchange. Very good overview over Bitcoin: http://www.youtube.com/watch?v=SNssKmeXrGsThe first half hour won't be terribly new to anyone who is familiar with Bitcoin, but the expert uses interesting approaches to explain Bitcoin. The second half is an excellent outlook to the yet unexplored potential of the Bitcoin network, namely scripted transactions. Highly recommended. From the article it clearly states: "Among those charged on Monday was Charlie Shrem, vice president of the Bitcoin Foundation" Yes. There is a vice president and he's in trouble. All y'all saying i don't know or ignoring my warning. Haters gon' hate. How do you still not get how stupid what you're saying is? There is no more a Vice President of Bitcoin than there is a Vice President of friendship. It's a mechanism of exchange, not a company. Nobody owns Bitcoin. The fact that you still think that you're right is truly staggering. You said something really, really, insanely stupid and then a bunch of people called you out on it and then something completely unrelated to the point you were trying to make happened and then you said "I told you so". I guess even you don't understand your own point. Why you'd resurrect your own idiocy so we could all ridicule you for it again I have no idea. Maybe you're just a masochist. Dunning-Kruger in effect. VP of the Bitcoin Foundation, it's a thing. Get your stuff together Mr. Kwark. Bitcoin Foundation != Bitcoin. Kwark is right, this thread is an amazing example of Dunning-Kruger in effect. Yes I went back and saw the guy's confusion. My bad.
He was originally arguing that the king of bitcoin could just mint himself a billion bitcoins and become emperor.
Edit: nevermind that was AlternativeEgo who was arguing that there was a bitcoin king who minted all the bitcoins and owned Bitcoin.
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intrigue
Washington, D.C9933 Posts
haha, "haters gon' hate". that's amazing. so, what now? normally at 500 i'd prob buy a few more but i don't know what this mtgox bullshit means in the long run for btc.
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I'd want to be bitcoin king, if only in name.
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Well, you'll have to forge a crown out of bitcoins. If you manage that, you are the bitcoin King. It's is the iron law, written on the most ancient of bitcoins.
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Cayman Islands24199 Posts
and upon his iron crown three silmarils fastened by iron claws, each worth 25000 bitcoins
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On February 27 2014 00:31 KwarK wrote:Show nested quote +On February 27 2014 00:07 Djzapz wrote:On February 27 2014 00:05 zatic wrote:On February 27 2014 00:04 Djzapz wrote:On February 26 2014 23:38 KwarK wrote:On February 26 2014 03:15 tokinho wrote:+ Show Spoiler +On January 29 2014 18:17 tokinho wrote:Show nested quote +On January 29 2014 14:41 zatic wrote:There is no vice president of Bitcoin. They are prosecuting a by now rather unimportant Bitcoin exchange. Very good overview over Bitcoin: http://www.youtube.com/watch?v=SNssKmeXrGsThe first half hour won't be terribly new to anyone who is familiar with Bitcoin, but the expert uses interesting approaches to explain Bitcoin. The second half is an excellent outlook to the yet unexplored potential of the Bitcoin network, namely scripted transactions. Highly recommended. From the article it clearly states: "Among those charged on Monday was Charlie Shrem, vice president of the Bitcoin Foundation" Yes. There is a vice president and he's in trouble. All y'all saying i don't know or ignoring my warning. Haters gon' hate. How do you still not get how stupid what you're saying is? There is no more a Vice President of Bitcoin than there is a Vice President of friendship. It's a mechanism of exchange, not a company. Nobody owns Bitcoin. The fact that you still think that you're right is truly staggering. You said something really, really, insanely stupid and then a bunch of people called you out on it and then something completely unrelated to the point you were trying to make happened and then you said "I told you so". I guess even you don't understand your own point. Why you'd resurrect your own idiocy so we could all ridicule you for it again I have no idea. Maybe you're just a masochist. Dunning-Kruger in effect. VP of the Bitcoin Foundation, it's a thing. Get your stuff together Mr. Kwark. Bitcoin Foundation != Bitcoin. Kwark is right, this thread is an amazing example of Dunning-Kruger in effect. Yes I went back and saw the guy's confusion. My bad. He was originally arguing that the king of bitcoin could just mint himself a billion bitcoins and become emperor. Edit: nevermind that was AlternativeEgo who was arguing that there was a bitcoin king who minted all the bitcoins and owned Bitcoin.
The King is your thought-baby. I just refuse to believe that everyone is equal and that there is no guy who has any more influence than any other guy. I also made it clear that I am dumb.
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On February 27 2014 00:58 intrigue wrote:
haha, "haters gon' hate". that's amazing. so, what now? normally at 500 i'd prob buy a few more but i don't know what this mtgox bullshit means in the long run for btc.
My take on this is that we are probably still going to tank for a while (more bad news and FUD around MtGox) until the ~350$ or so level, then rebound to ~800 (in around 1-2 months from now), and then move horizontally for a few months prior to the start of the next bubble. The bitcoin protocol hasn't changed/found to be fatally flawed, so no damage has been done to the underlying "asset"; therefore this retracement will only be temporary as people panic sell on bad rumors/news and then panic buy when they realize nothing has changed/good news come.
Funny how it took the biggest exchange website to go bust to tank the price to the horrifying levels of... mid November.
We will see what happens next.
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I dont understand why would businesses want to accept bitcoins unless their owners want to gamble on the whole Bitcoin thing. Generally speaking by accepting bitcoins the business diversificates it's activities into gambling on the currency market which is extremely volatile. If I were the shareholder of such a business I would hate that. It greatly increases financial risks while providing only very limited customer conveniences. If I wanted to gamble with Bitcoins I would do that myself.
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On February 27 2014 05:23 Cheerio wrote:
I dont understand why would businesses want to accept bitcoins unless their owners want to gamble on the whole Bitcoin thing. Generally speaking by accepting bitcoins the business diversificates it's activities into gambling on the currency market which is extremely volatile. If I were the shareholder of such a business I would hate that. It greatly increases financial risks while providing only very limited customer conveniences. If I wanted to gamble with Bitcoins I would do that myself.
Not necessarily. Businesses can make agreements with places like bitpay so that bitcoins are converted to cash as soon as a purchase using bitcoins is made, and the price (in bitcoins) varies along with the going rate (so that the dollar value of the purchase remains constant). TL works this way if I'm not mistaken.
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Cayman Islands24199 Posts
if im not mistaken the previous 'we mainstream now' balloon was the first of its magnitude. that should be bursting.
any further growth will be from ideological converts who are rather resistant against reality and the rate of this growth is not going to approach teh wave of 'we mainstream now' rush.
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Zurich15313 Posts
On February 27 2014 05:23 Cheerio wrote:
I dont understand why would businesses want to accept bitcoins unless their owners want to gamble on the whole Bitcoin thing. Generally speaking by accepting bitcoins the business diversificates it's activities into gambling on the currency market which is extremely volatile. If I were the shareholder of such a business I would hate that. It greatly increases financial risks while providing only very limited customer conveniences. If I wanted to gamble with Bitcoins I would do that myself.
Here are the main pros and cons from a merchant's perspective: http://www.coindesk.com/pros-cons-bitcoin-merchants-view/?curator=MediaREDEF
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If I understand this right. If MtGox disappears and never fixes itself then all those bitcoins go poof?
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I'd guess that they end up in someones pocket. I doubt that millions of dollars just disappear when there are people who could grab them. And there must be someone who could grab them.
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EPT
