Bitcoins are officially donkdown

[bottomset_69]

So, Mr. Conley purchased it in 2005 for $1,250,000, then sold it that day to his wife, then their Trust sold it to Micon's Trust 8 years later for $270K.



Edit: I dont know LV real estate, but that housing style seems very cold and almost like an Iraqi prison camp.

Michael Conley has nothing to do with micon nor does he know micon, he just named his latest trust MICON due to his name being MIchael CONley...someone found the info and is pulling a sweet level.

Trying to figure out the level? Buying a fucking house in a desert? I am in the process of buying a house due to the chick I met, and there is nothing glamorous about it. Renting a place is 100% the way to go, but women see otherwise.

With that said, I am trying to figure out how buying a house in a virtual desert means anything other than you want a house in a virtual desert? This is not Malibu or South Beach.

[DRK Star]

oh, its a level.

lovely.

I enjoy levels....

[Texter]

Michael Conley has nothing to do with micon nor does he know micon, he just named his latest trust MICON due to his name being MIchael CONley...someone found the info and is pulling a sweet level.

Trying to figure out the level? Buying a fucking house in a desert? I am in the process of buying a house due to the chick I met, and there is nothing glamorous about it. Renting a place is 100% the way to go, but women see otherwise.

With that said, I am trying to figure out how buying a house in a virtual desert means anything other than you want a house in a virtual desert? This is not Malibu or South Beach.

a guy no one knows posts that micon is taking care of his family via some million dollar home he put into a trust which makes micon look like a baller due to bitcoins, even though the trust has nothing to do with micon at all and you don't understand the level?

[bottomset_69]

Trying to figure out the level? Buying a fucking house in a desert? I am in the process of buying a house due to the chick I met, and there is nothing glamorous about it. Renting a place is 100% the way to go, but women see otherwise.

With that said, I am trying to figure out how buying a house in a virtual desert means anything other than you want a house in a virtual desert? This is not Malibu or South Beach.

a guy no one knows posts that micon is taking care of his family via some million dollar home he put into a trust which makes micon look like a baller due to bitcoins, even though the trust has nothing to do with micon at all and you don't understand the level?

WTF are you talking about. Micon was pimping bitcoins when they were $5. He likely bought a lot of bitcoins and cashed in. He may have bought a house, or did not and pumped them into slot machines.

It's pretty evident he made some serious coin and has cash flow.

My point is 100% is taxable and you have to pay. Either way the IRS is going to get curious. You can pay taxes on Cocaine, but it does not mean you will get away with it.

You really think a scheme with bitcoins is going to circumvent the NYC Court? You think these guys are stupid?

[DRK Star]

Listen, if its a Level, great. Someone must have gone though either a lot of effort, since there are actual websites listing Micon Trust on them, which seems unlikely, but I guess, possible.

I dont care one way or another.

[DRK Star]

also, just looked back at the early days of Seals and people used to ask for 100 free coins, and they would send it to them.

can you imagine how many people could still possibly have hundreds of free chips sitting in their accounts from two years ago, that just stopped playing?

[DRK Star]

http://blogs.marketwatch.com/thetell...y-be-to-blame/


China’s central bank hacked; angry bitcoin traders may be to blame

[Texter]

Listen, if its a Level, great. Someone must have gone though either a lot of effort, since there are actual websites listing Micon Trust on them, which seems unlikely, but I guess, possible.

I dont care one way or another.

the trust is owned by guy named Michael conley

the first two letters of his first name MI, and the first 3 letters of his last name CON are how he named the trust, someone here was looking up MICON and found it...then he came here and created the user name Michael conley and posted that screencap to make it look like MICON bought a million dollar house....get it.

sure micon made good bank on bitcoins, but that house ain't his.

[DRK Star]

btc's in a free fall the last hour or two.

dropped over 100 pts after a nice rebuild

[Belly Buster]

Bitcoins are in many ways the "perfect" tradeable commodity. Uninhibited by most external factors (except maybe government intervention), the price is dictated purely by the collective psychology of those buying and selling.

Trading is a zero-sum game. For every winner there has to be a loser. A bit like the rake in poker, once you factor in the spreads and commissions, you have to be in the top 10% of traders to realistically win or break even over a series of transactions. Of course you may get lucky and make a big score but if you keep coming back you will almost certainly lose your money.

I think Sanlmar's post are interesting to explain the trading patterns. If you can really understand this shit then you could well use it to good advantage. I have worked in trading for 15 years (i'm not a trader) and most of this stuff makes a bit of sense but I bet not many people know it.

[Sanlmar]

Bitcoins are in many ways the "perfect" tradeable commodity. Uninhibited by most external factors (except maybe government intervention), the price is dictated purely by the collective psychology of those buying and selling.

Trading is a zero-sum game. For every winner there has to be a loser. A bit like the rake in poker, once you factor in the spreads and commissions, you have to be in the top 10% of traders to realistically win or break even over a series of transactions. Of course you may get lucky and make a big score but if you keep coming back you will almost certainly lose your money.

I think Sanlmar's post are interesting to explain the trading patterns. If you can really understand this shit then you could well use it to good advantage. I have worked in trading for 15 years (i'm not a trader) and most of this stuff makes a bit of sense but I bet not many people know it.

I think you make an excellent observation about Bitcoin being the "perfect" or pure tradeable commodity.

I honestly never thought about it in this way.

There is no insider trading on earnings surprises or new product release, etc. What you see is what you get. It is just crowd psychology to the nth degree - A BUBBLE. Everyone just looking for a big score. Greed & fear. The pattern trading probably works best here.

Everyone who has followed this thing is witnessing a phenomena that will serve them well the next time a bubble comes around.

[GambleBotsChafedPenis]

Bitcoins are in many ways the "perfect" tradeable commodity. Uninhibited by most external factors (except maybe government intervention), the price is dictated purely by the collective psychology of those buying and selling.

Trading is a zero-sum game. For every winner there has to be a loser. A bit like the rake in poker, once you factor in the spreads and commissions, you have to be in the top 10% of traders to realistically win or break even over a series of transactions. Of course you may get lucky and make a big score but if you keep coming back you will almost certainly lose your money.

I think Sanlmar's post are interesting to explain the trading patterns. If you can really understand this shit then you could well use it to good advantage. I have worked in trading for 15 years (i'm not a trader) and most of this stuff makes a bit of sense but I bet not many people know it.

I think you make an excellent observation about Bitcoin being the "perfect" or pure tradeable commodity.

I honestly never thought about it in this way.

There is no insider trading on earnings surprises or new product release, etc. What you see is what you get. It is just crowd psychology to the nth degree - A BUBBLE. Everyone just looking for a big score. Greed & fear. The pattern trading probably works best here.

Everyone who has followed this thing is witnessing a phenomena that will serve them well the next time a bubble comes around.

like when the s&p starts the inevitable bedshit in 2014.

[DirtyB]

like when the s&p starts the inevitable bedshit in 2014.

US GDP was up 4.1% in Q3.

[Ryback_feed_me_more]

This could be the first crack in the dam for BTC to become a big player in legitimate online retail.

Overstock.com will become the first major U.S. retailer to accept Bitcoin, the company's chief executive Patrick Byrne told CNNMoney Friday.

Byrne said customers will be able to use the virtual currency to make purchases on Overstock.com, which sells everything from digital cameras and bed sheets to patio furniture and even cars. The company is expected to have total revenue of $1.3 billion for 2013, according to FactSet Research.

"We think there's going to be a market in Bitcoin, and we want to get in front of it," said Byrne. "We want to be the first major e-tailer that accepts them." Byrne first made comments about Overstock.com accepting Bitcoin in an interview with Bitcoin blog newsBTC and later in the Financial Times.

Overstock plans to begin accepting Bitcoin near the end of the second quarter of 2014. Byrne said the move stems partly from his background in the Austrian School of economics, which is associated with the Libertarian party in the United States.

"We're the guys who like gold," he said. "We think the monetary base should not be something that a government can create with a stroke of a pen."

Unlike traditional currencies, Bitcoin is not backed by any government authority or central bank. It exists only on the internet and is "mined" by powerful computers that solve complex math puzzles.

Byrne said he is concerned about the possibility of "bad currency wars" in the future. He said the U.S. dollar is already being undermined by the Federal Reserve's easy money policies and by overspending by politicians in Washington.

Like gold, Byrne said Bitcoin should hold its value better than the dollar because it is "mathematically constrained" and cannot be manipulated by government authorities.

There are currently 12.1 million bitcoins in circulation, according to blockchain.info. The total number of bitcoins is capped at 21 million.

Critics say Bitcoin is at best a fad and at worst a haven for criminals looking to buy and sell illegal goods anonymously. But supporters argue that Bitcoin is a more democratic alternative to traditional currencies.

Former U.S. Congressman Ron Paul, an outspoken Libertarian from Texas, has said that Bitcoin could be the dollar's"destroyer" if it goes mainstream.

Bitcoin has exploded in value this year, rising from about $13 in January to more than $1,200 earlier this month. On Friday, bitcoins were trading at about $739 on the Mt. Gox exchange.

The currency is prone to wild swings and experts say Bitcoin will remain volatile as the technology evolves.

Byrne acknowledged that the volatility is a problem and that Overstock will need to "continually convert Bitcoins into dollars" to avoid losing money. Eventually, he said there will be a derivatives market that will allow companies to hedge their exposure to Bitcoin.

In some respects, it's not a surprise that Overstock would move to accept Bitcoin. The company is unconventional. It is known for quirky ads and for shortening its name online to O.co.

Byrne also has a penchant for writing long, rambling shareholder letters in earnings reports. And he famously appeared on "60 Minutes" to complain about short sellers who were betting against his stock. He evn told CNNMoney in 2003 that "When opportunities come along where we can knee the shorts in the groin, that's always good for fun and amusement. That's just icing on the cake."

But Overstock is not the first business to embrace Bitcoin.

British entrepreneur Richard Branson made a splash in November when he announced that his that his commercial space travel venture, Virgin Galactic, will allow customers to pay for their flights with Bitcoin.

China's leading search engine Baidu also accepts Bitcoin for certain services. And a car dealer in California recently accepted Bitcoin as payment for a Tesla Model S, valued at $100,000.

Bitcoin has been a particularly popular investment in China, but regulators have been cracking down. This week, China's largest bitcoin exchange, BTC China, abruptly stopped accepting new deposits. That came after China's central bank issued a warning and announced new rules for financial institutions dealing in bitcoins earlier this month.

European Union officials have also warned about the risks of Bitcoin and may consider regulating the currency.


Read more: http://www.abc15.com/dpp/news/nation...#ixzz2o6WiP5ka

[dwai]

Orignial Thread Title: bitcoins are officially donk down.

Original Date: 05-15-2013

Thread started by: sonatine.



good read fat boy.

[sonatine]

This could be the first crack in the dam for BTC to become a big player in legitimate online retail.

Overstock.com will become the first major U.S. retailer to accept Bitcoin, the company's chief executive Patrick Byrne told CNNMoney Friday.

Byrne said customers will be able to use the virtual currency to make purchases on Overstock.com, which sells everything from digital cameras and bed sheets to patio furniture and even cars. The company is expected to have total revenue of $1.3 billion for 2013, according to FactSet Research.

"We think there's going to be a market in Bitcoin, and we want to get in front of it," said Byrne. "We want to be the first major e-tailer that accepts them." Byrne first made comments about Overstock.com accepting Bitcoin in an interview with Bitcoin blog newsBTC and later in the Financial Times.

Overstock plans to begin accepting Bitcoin near the end of the second quarter of 2014. Byrne said the move stems partly from his background in the Austrian School of economics, which is associated with the Libertarian party in the United States.

"We're the guys who like gold," he said. "We think the monetary base should not be something that a government can create with a stroke of a pen."

Unlike traditional currencies, Bitcoin is not backed by any government authority or central bank. It exists only on the internet and is "mined" by powerful computers that solve complex math puzzles.

Byrne said he is concerned about the possibility of "bad currency wars" in the future. He said the U.S. dollar is already being undermined by the Federal Reserve's easy money policies and by overspending by politicians in Washington.

Like gold, Byrne said Bitcoin should hold its value better than the dollar because it is "mathematically constrained" and cannot be manipulated by government authorities.

There are currently 12.1 million bitcoins in circulation, according to blockchain.info. The total number of bitcoins is capped at 21 million.

Critics say Bitcoin is at best a fad and at worst a haven for criminals looking to buy and sell illegal goods anonymously. But supporters argue that Bitcoin is a more democratic alternative to traditional currencies.

Former U.S. Congressman Ron Paul, an outspoken Libertarian from Texas, has said that Bitcoin could be the dollar's"destroyer" if it goes mainstream.

Bitcoin has exploded in value this year, rising from about $13 in January to more than $1,200 earlier this month. On Friday, bitcoins were trading at about $739 on the Mt. Gox exchange.

The currency is prone to wild swings and experts say Bitcoin will remain volatile as the technology evolves.

Byrne acknowledged that the volatility is a problem and that Overstock will need to "continually convert Bitcoins into dollars" to avoid losing money. Eventually, he said there will be a derivatives market that will allow companies to hedge their exposure to Bitcoin.

In some respects, it's not a surprise that Overstock would move to accept Bitcoin. The company is unconventional. It is known for quirky ads and for shortening its name online to O.co.

Byrne also has a penchant for writing long, rambling shareholder letters in earnings reports. And he famously appeared on "60 Minutes" to complain about short sellers who were betting against his stock. He evn told CNNMoney in 2003 that "When opportunities come along where we can knee the shorts in the groin, that's always good for fun and amusement. That's just icing on the cake."

But Overstock is not the first business to embrace Bitcoin.

British entrepreneur Richard Branson made a splash in November when he announced that his that his commercial space travel venture, Virgin Galactic, will allow customers to pay for their flights with Bitcoin.

China's leading search engine Baidu also accepts Bitcoin for certain services. And a car dealer in California recently accepted Bitcoin as payment for a Tesla Model S, valued at $100,000.

Bitcoin has been a particularly popular investment in China, but regulators have been cracking down. This week, China's largest bitcoin exchange, BTC China, abruptly stopped accepting new deposits. That came after China's central bank issued a warning and announced new rules for financial institutions dealing in bitcoins earlier this month.

European Union officials have also warned about the risks of Bitcoin and may consider regulating the currency.


Read more: http://www.abc15.com/dpp/news/nation...#ixzz2o6WiP5ka

The markets response to this stunning development:

[BetCheckBet]

This could be the first crack in the dam for BTC to become a big player in legitimate online retail.

Overstock.com will become the first major U.S. retailer to accept Bitcoin, the company's chief executive Patrick Byrne told CNNMoney Friday.

Byrne said customers will be able to use the virtual currency to make purchases on Overstock.com, which sells everything from digital cameras and bed sheets to patio furniture and even cars. The company is expected to have total revenue of $1.3 billion for 2013, according to FactSet Research.

"We think there's going to be a market in Bitcoin, and we want to get in front of it," said Byrne. "We want to be the first major e-tailer that accepts them." Byrne first made comments about Overstock.com accepting Bitcoin in an interview with Bitcoin blog newsBTC and later in the Financial Times.

Overstock plans to begin accepting Bitcoin near the end of the second quarter of 2014. Byrne said the move stems partly from his background in the Austrian School of economics, which is associated with the Libertarian party in the United States.

"We're the guys who like gold," he said. "We think the monetary base should not be something that a government can create with a stroke of a pen."

Unlike traditional currencies, Bitcoin is not backed by any government authority or central bank. It exists only on the internet and is "mined" by powerful computers that solve complex math puzzles.

Byrne said he is concerned about the possibility of "bad currency wars" in the future. He said the U.S. dollar is already being undermined by the Federal Reserve's easy money policies and by overspending by politicians in Washington.

Like gold, Byrne said Bitcoin should hold its value better than the dollar because it is "mathematically constrained" and cannot be manipulated by government authorities.

There are currently 12.1 million bitcoins in circulation, according to blockchain.info. The total number of bitcoins is capped at 21 million.

Critics say Bitcoin is at best a fad and at worst a haven for criminals looking to buy and sell illegal goods anonymously. But supporters argue that Bitcoin is a more democratic alternative to traditional currencies.

Former U.S. Congressman Ron Paul, an outspoken Libertarian from Texas, has said that Bitcoin could be the dollar's"destroyer" if it goes mainstream.

Bitcoin has exploded in value this year, rising from about $13 in January to more than $1,200 earlier this month. On Friday, bitcoins were trading at about $739 on the Mt. Gox exchange.

The currency is prone to wild swings and experts say Bitcoin will remain volatile as the technology evolves.

Byrne acknowledged that the volatility is a problem and that Overstock will need to "continually convert Bitcoins into dollars" to avoid losing money. Eventually, he said there will be a derivatives market that will allow companies to hedge their exposure to Bitcoin.

In some respects, it's not a surprise that Overstock would move to accept Bitcoin. The company is unconventional. It is known for quirky ads and for shortening its name online to O.co.

Byrne also has a penchant for writing long, rambling shareholder letters in earnings reports. And he famously appeared on "60 Minutes" to complain about short sellers who were betting against his stock. He evn told CNNMoney in 2003 that "When opportunities come along where we can knee the shorts in the groin, that's always good for fun and amusement. That's just icing on the cake."

But Overstock is not the first business to embrace Bitcoin.

British entrepreneur Richard Branson made a splash in November when he announced that his that his commercial space travel venture, Virgin Galactic, will allow customers to pay for their flights with Bitcoin.

China's leading search engine Baidu also accepts Bitcoin for certain services. And a car dealer in California recently accepted Bitcoin as payment for a Tesla Model S, valued at $100,000.

Bitcoin has been a particularly popular investment in China, but regulators have been cracking down. This week, China's largest bitcoin exchange, BTC China, abruptly stopped accepting new deposits. That came after China's central bank issued a warning and announced new rules for financial institutions dealing in bitcoins earlier this month.

European Union officials have also warned about the risks of Bitcoin and may consider regulating the currency.


Read more: http://www.abc15.com/dpp/news/nation...#ixzz2o6WiP5ka

Unless you want to buy something you can't buy with normal currency (illegal things) bitcoins are worthless (except for speculating).

I can't get over how many people cannot grasp this concept but then again the logic behind bitcoin isn;t really sound.

You still need to buy bitcoin through financial transactions which are WORSE than current options. Why is someone going to buy bitcoin through shady exchanges to purchase something when they can just buy it directly with money. Its a useless middle man.

The only way bitcoin could ever be a legitimate currency would be proliferation at about 1000x what it is now. As of right now purchasing things through bitcoin is a novelty and inconvenience.

[sonatine]

Honestly why not accept puka shells and pickled human ears as well?

[Texter]

Honestly why not accept puka shells and pickled human ears as well?

Wasn't it tulip bulbs or some crazy thing back in the day with that huge bubble? The modern equivalent would be beanie babies

[son of lockman]

Seens CNN thinks this Sh#t-Coin stuff is a joke. I mean where is it backed by any country in the world? Maybe a collector's item for your grandkids in 50 years. Ok then save all you can.