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Thread: Bitcoins are officially donkdown

  1. #1961
    Cubic Zirconia SamGrizzleJanFisherBaby's Avatar
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    What are the possible ways to buy and sell bitcoin at this point in time? I made an e wallet somewhere recently and then did not pull the trigger because it lacked a feeling of complete legitimacy. I have never owned a bitcoin.

     
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      Ricky: known efag

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    Silver jacosta24's Avatar
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    Quote Originally Posted by SamGrizzleJanFisherBaby View Post
    What are the possible ways to buy and sell bitcoin at this point in time? I made an e wallet somewhere recently and then did not pull the trigger because it lacked a feeling of complete legitimacy. I have never owned a bitcoin.
    Coinbase simple

     
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      garrett: ^^ def Coinbase

  3. #1963
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by SamGrizzleJanFisherBaby View Post
    What are the possible ways to buy and sell bitcoin at this point in time? I made an e wallet somewhere recently and then did not pull the trigger because it lacked a feeling of complete legitimacy. I have never owned a bitcoin.
    I see you have been patiently waiting for the new sub $200 version of Bitcoin. Obv a bright guy.

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  4. #1964
    Plutonium sonatine's Avatar
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    https://bitstampincidentreport.files...rt-2-20-15.pdf

    highly technical analysis of the bitstamp compromise. paints an extremely bad picture of the level of competence in those circles.

     
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      Belly Buster: Worth a read
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Quote Originally Posted by sonatine View Post
    https://bitstampincidentreport.files...rt-2-20-15.pdf

    highly technical analysis of the bitstamp compromise. paints an extremely bad picture of the level of competence in those circles.
    I find that very hard to believe.
    Chairman Micon would never involve himself with bitcoins if he knew how incompetent the other operators were.
    When faced with a difficult decision, ask yourself "What would Micon do?", then do the opposite.

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  6. #1966
    NoFraud Poker Room Manager Belly Buster's Avatar
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    Quote Originally Posted by sonatine View Post
    https://bitstampincidentreport.files...rt-2-20-15.pdf

    highly technical analysis of the bitstamp compromise. paints an extremely bad picture of the level of competence in those circles.
    Took the time to read that. Holy shit the level of fail is off the scale.

    Cliffs: Employees accept skype requests from randoms, open dodgy skype attachments from said randoms, get PCs infected with spyware, passwords stolen, 18,000 bitcoins stolen.

    Even better than that, their hot wallet can only hold 5,000BTC at a time, limiting the potential losses if it is compromised. But they kept taking deposits while the scammers were draining the wallet, so they loaded up at least another 13,000BTC after the losses had already started - and those were taken too.


     
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      sonatine: :this
    Quote Originally Posted by Dan Druff View Post
    BTW JACKDANIELS is the first one banned from the thread. He is accusing me of being "duped by a middle aged man who dresses like John Cena"
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  7. #1967
    Plutonium sonatine's Avatar
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    weird shit going down in bitcoinland

    http://motherboard.vice.com/read/the...tion-ever-made
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    R there any bitcoin atm cards out there that work at normal atms? Ive seen some for bitcoin atms but none of those are in my area. I looking for one that I can use at my local credit union or BOA atnm. Thanks

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    Plutonium sonatine's Avatar
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    Quote Originally Posted by tuff_fish View Post
    R there any bitcoin atm cards out there that work at normal atms? Ive seen some for bitcoin atms but none of those are in my area. I looking for one that I can use at my local credit union or BOA atnm. Thanks

    hi, are you actually THE tuff_fish?
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  10. #1970
    Platinum ToasterOven's Avatar
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    Quote Originally Posted by sonatine View Post
    Quote Originally Posted by tuff_fish View Post
    R there any bitcoin atm cards out there that work at normal atms? Ive seen some for bitcoin atms but none of those are in my area. I looking for one that I can use at my local credit union or BOA atnm. Thanks

    hi, are you actually THE tuff_fish?
    The fate of the world rests on this answer.

     
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      phantom: lol

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    If anyone else here got caught up in the MtGox crash, the deadline for filing a claim w/ MtGox bankruptcy trustee is July 29.

    Sign in to yr Gox acct and follow directions.

     
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      ToasterOven: public service rep
      
      Dan Druff:

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    At $290, and seems to be stabilizing since the beginning of the year.

    I predict Bitcoin will be around for a long time.

  13. #1973
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    Quote Originally Posted by sonatine View Post
    The warrant alleges Mt. Gox CEO Mark Karpeles failed to disclose that he ran a money services business when opening a bank account with Wells Fargo in the name of Mutum Sigillum, a Delaware company he set up to facilitate Mt. Gox's Dwolla payments. The application asked several questions including "Do you deal in or exchange currency for your customer?" and "Does your business accept funds from customers and send the funds based on customers' instructions?" to which Karpeles responded no. Money transmitting services are required to register with the Department of Treasury's FINCen, which Mt. Gox has not done.

    However, Mutum Sigillum did function as a money transmitter, according to the warrant. Mt. Gox wired money to the Mutum Sigillum's Wells Fargo account from Japan, which was used to pay its customers who cashed out through Dwolla. An informant exchanged Bitcoins to dollars on Mt Gox through Dwolla, and bank records showed the transfer was done through Mutum Sigillum.

    Mt. Gox has not issued a statement on the allegations, but this latest scandal makes one wonder exactly how shady Mt. Gox, which originally started as an exchange site for Magic The Gathering Cards, is. Fancy Latin name aside, the barely-functioning website of Mutum Sigillum does not seem a very promising backbone on which to build the new Bitcoin Global World Economic Order, especially as feds seem intent on cracking down on the illicit use of the currency.
    I am glad you used this particular language. Because claims by many tin-foil hat members, as well as the occasional Internet radio show hosts (Cough! Druff! Cough!), that the U.S. government doesn't allow or want alternative currencies, U.S. laws allow such currencies. Here is an article in Forbes about one type, local currencies:
    http://www.forbes.com/sites/katiegil...hy-it-matters/

    But per the bolded portion of the quote above, the Feds are concerned with illicit use of such currencies. And there are legal mechanisms in place, such as reporting requirements for certain businesses doing business with banks in the U.S., that are meant to catch the worst of the offenders.
    _____________________________________________
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    I actually hope this [second impeachment] succeeds, because I want Trump put down politically like a sick, 14-year-old dog. ... I don't want him complicating the 2024 primary season. I just want him done.
    Quote Originally Posted by Dan Druff View Post
    Were Republicans cowardly or unethical not to go along with [convicting Trump in the second impeachment Senate trial]? No. The smart move was to reject it.

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    Karpeles in custody of Japanese authorities.

    http://news.yahoo.com/japan-police-a...234541269.html

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    Quote Originally Posted by SrslySirius View Post
    Karpeles in custody of Japanese authorities.

    http://news.yahoo.com/japan-police-a...234541269.html

    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Quote Originally Posted by RegGaymer View Post
    At $290, and seems to be stabilizing since the beginning of the year.

    I predict Bitcoin will be around for a long time.
    Anyone else think it is worth investing now before it becomes properly regulated? Would appreciate it if anyone who has researched it properly could sound off. From what I hear it has similar properties to gold and is only a matter of time...
    BALLIN'!!

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    Quote Originally Posted by Starbucks Spunk Bucket View Post
    Quote Originally Posted by RegGaymer View Post
    At $290, and seems to be stabilizing since the beginning of the year.

    I predict Bitcoin will be around for a long time.
    Anyone else think it is worth investing now before it becomes properly regulated? Would appreciate it if anyone who has researched it properly could sound off. From what I hear it has similar properties to gold and is only a matter of time...

    i dont see how anyone could read even a fraction of this thread, even the title of this thread, and claim its got 'similar properties to gold'...

    id very much like someone to explain how regulation is going to somehow yield a positive return on a pre-regulation investment.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Quote Originally Posted by sonatine View Post
    Quote Originally Posted by Starbucks Spunk Bucket View Post

    Anyone else think it is worth investing now before it becomes properly regulated? Would appreciate it if anyone who has researched it properly could sound off. From what I hear it has similar properties to gold and is only a matter of time...

    i dont see how anyone could read even a fraction of this thread, even the title of this thread, and claim its got 'similar properties to gold'...

    id very much like someone to explain how regulation is going to somehow yield a positive return on a pre-regulation investment.
    Just look at the history of stock markets. When un- or underregulated, ordinary investors are subject to greater risk of trading against informed parties, including scammers. Except when swinging wildly due to price manipulation and sentiment investing bubbling the price, this outsider trading risk normally depresses the market price of a security. As regulation is added, or improved, to reduce this outsider trading risk, the market lowers the risk premium on financial securities, which in turn increases the market price.

    And regulation doesnt actually have to be in place for this risk-reduction effect to occur. If enough investors believe that such protective regulation is forthcoming, the market price of financial securities will rise in anticipation of this regulation eventually being enacted and enforced.

    As such, as the likelihood of protective government regulation of bitcoin markets increases, the market price of bitcoins should rise in reaction to the perceived risk premium falls. And as more major businesses accept bitcoin, the likelihood of governments stepping in to protect these businesses exposure to bitcoin market risk, the more likely government regulation of those markets will be put in place.

    And didn't Dell recently announce that it is accepting bitcoin?
    _____________________________________________
    Quote Originally Posted by Dan Druff View Post
    I actually hope this [second impeachment] succeeds, because I want Trump put down politically like a sick, 14-year-old dog. ... I don't want him complicating the 2024 primary season. I just want him done.
    Quote Originally Posted by Dan Druff View Post
    Were Republicans cowardly or unethical not to go along with [convicting Trump in the second impeachment Senate trial]? No. The smart move was to reject it.

  19. #1979
    Plutonium sonatine's Avatar
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    Quote Originally Posted by MumblesBadly View Post
    Quote Originally Posted by sonatine View Post


    i dont see how anyone could read even a fraction of this thread, even the title of this thread, and claim its got 'similar properties to gold'...

    id very much like someone to explain how regulation is going to somehow yield a positive return on a pre-regulation investment.
    Just look at the history of stock markets. When un- or underregulated, ordinary investors are subject to greater risk of trading against informed parties, including scammers. Except when swinging wildly due to price manipulation and sentiment investing bubbling the price, this outsider trading risk normally depresses the market price of a security. As regulation is added, or improved, to reduce this outsider trading risk, the market lowers the risk premium on financial securities, which in turn increases the market price.

    And regulation doesnt actually have to be in place for this risk-reduction effect to occur. If enough investors believe that such protective regulation is forthcoming, the market price of financial securities will rise in anticipation of this regulation eventually being enacted and enforced.

    As such, as the likelihood of protective government regulation of bitcoin markets increases, the market price of bitcoins should rise in reaction to the perceived risk premium falls. And as more major businesses accept bitcoin, the likelihood of governments stepping in to protect these businesses exposure to bitcoin market risk, the more likely government regulation of those markets will be put in place.

    And didn't Dell recently announce that it is accepting bitcoin?


    someone who isnt garrett, please.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  20. #1980
    Gold Starbucks Spunk Bucket's Avatar
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    Quote Originally Posted by sonatine View Post
    Quote Originally Posted by MumblesBadly View Post

    Just look at the history of stock markets. When un- or underregulated, ordinary investors are subject to greater risk of trading against informed parties, including scammers. Except when swinging wildly due to price manipulation and sentiment investing bubbling the price, this outsider trading risk normally depresses the market price of a security. As regulation is added, or improved, to reduce this outsider trading risk, the market lowers the risk premium on financial securities, which in turn increases the market price.

    And regulation doesnt actually have to be in place for this risk-reduction effect to occur. If enough investors believe that such protective regulation is forthcoming, the market price of financial securities will rise in anticipation of this regulation eventually being enacted and enforced.

    As such, as the likelihood of protective government regulation of bitcoin markets increases, the market price of bitcoins should rise in reaction to the perceived risk premium falls. And as more major businesses accept bitcoin, the likelihood of governments stepping in to protect these businesses exposure to bitcoin market risk, the more likely government regulation of those markets will be put in place.

    And didn't Dell recently announce that it is accepting bitcoin?


    someone who isnt garrett, please.
    I actually thought that was good enough reasoning. Just sayin'
    BALLIN'!!

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