midas Posted June 14, 2011 Share Posted June 14, 2011 (edited) the real weakness of bitcoins and similar schemes is that their chance to survive is equivalent to a snowball in hell. for a decade the "powers" have woven a net, who's loops are getting tighter by any day that passes, to eradicate/prevent anomymous financial transfers, bank accounts, holdings, etc.; all under the umbrella "terrorist activities, money laundering, drug trade" and last not least "taxes". it would be utmost naive to assume that any of these schemes will have success, notwithstanding the fact that other schemes like "hawala" still exist but have been reduced considerably. moreover, bitcoins et al are much more "fiat" than any "fiat" presently existing and the attribute or comparison with "tulip" another tv-member mentioned in this thread does apply. your comments are noted Naam but somehow i dont think you will stop market forces "Turned down by a recording company saying "We don't like their sound and guitar music is on the way out" They were talking about the Beatles " Edited June 14, 2011 by midas Link to comment Share on other sites More sharing options...
Naam Posted June 14, 2011 Share Posted June 14, 2011 your comments are noted Naam but somehow i dont think you will stop market forces yawwwnnn of course i won't and of course i have no plans to do so. but let me tell you a secret but ssshhhhh... don't tell anybody! the secret is... i care a flying fàrt whether bitcoins or similar nonsensical schemes are successful or not. initial success is of course guaranteed as proverbial suckers who lack the ability of complex thinking and evaluating relevant situations and implications are not only born every minute but millions exist already. let them buy and redeem fiat bits thinking their actions can't be traced and let them enjoy their "tulips"; they have my blessings. those who will definitely stop the "market forces" are those "forces" which stopped banks worldwide to accept IRS slaves as clients, forced EU banks to withhold 35% tax on portfolio gains when the beneficaries are EU citizens residing in the EU, cheated a billion or so taxpayers out of trillions hard earned money, invade remote countries based on lies, false pretenses and blatant misinterpretations of UN resolutions, bomb the living shit out of innocent people in various countries under the disguise of protecting human rights, etc., etc., etc. Link to comment Share on other sites More sharing options...
Darrel Posted June 16, 2011 Share Posted June 16, 2011 http://www.theregister.co.uk/2011/06/16/bitcoin_theft_claims/ I'll still be sticking to tulips. At least when it all goes belly-up you can admire the blooms. Link to comment Share on other sites More sharing options...
Naam Posted June 16, 2011 Share Posted June 16, 2011 http://www.theregister.co.uk/2011/06/16/bitcoin_theft_claims/ I'll still be sticking to tulips. At least when it all goes belly-up you can admire the blooms. "The market just couldn't handle the sale of 25,000 BTC at once," he explained. The true value of the loss "would be more like $300,000 and cause the price to drop to around $10. Also, at the time he acquired the coins they probably were worth only $1000 or less. So the loss is in terms of USD is more a theoretical value. It's not like he put $300,000+ into bitcoins and lost them." and he still seems to own enough bitcoins to buy a rubber sheet to protect his mattress from the proceeds of his wet dreams Link to comment Share on other sites More sharing options...
endure Posted June 16, 2011 Share Posted June 16, 2011 Can I use a bitcoin to buy my breakfast yet? Link to comment Share on other sites More sharing options...
cloudhopper Posted June 18, 2011 Share Posted June 18, 2011 (edited) http://www.theregist...n_theft_claims/ I'll still be sticking to tulips. At least when it all goes belly-up you can admire the blooms. robo bit robbers roaming cyber space - http://www.betanews....ntec/1308345951 "Once stolen, it may be near impossible for the victim to recover his or her funds. Due to the decentralized nature of the peer-to-peer currency, there is little record of the transaction happening. What little data is kept is anonymized, so it would be difficult to track down individual users." Edited June 18, 2011 by cloudhopper Link to comment Share on other sites More sharing options...
Naam Posted June 18, 2011 Share Posted June 18, 2011 If you use Bitcoins, you have the option to encrypt your wallet and we recommend that you choose a strong password... ...like this one ↓#↕БГ Д ЕЖữΖζ-nô∟BΣσςaşlΨψgıçta▼sɨˈrɪlɪk Link to comment Share on other sites More sharing options...
Darrel Posted June 18, 2011 Share Posted June 18, 2011 Malware moves in for the kill .............. http://www.theregister.co.uk/2011/06/18/bitcoin_stealing_malware/ Link to comment Share on other sites More sharing options...
Darrel Posted June 20, 2011 Share Posted June 20, 2011 Bad to worse.... http://www.theregister.co.uk/2011/06/19/bitcoin_values_collapse_again/ Link to comment Share on other sites More sharing options...
cloudhopper Posted June 20, 2011 Share Posted June 20, 2011 Bad to worse.... http://www.theregist...collapse_again/ "Update: Since I began writing this, it has emerged that details of more than 60,000 users have been stolen from the Mt Gox exchange. The compromised information includes hashed passwords." Link to comment Share on other sites More sharing options...
Naam Posted June 20, 2011 Share Posted June 20, 2011 The compromised information includes hashed passwords here we go! DRUGS involved! Link to comment Share on other sites More sharing options...
manarak Posted June 20, 2011 Share Posted June 20, 2011 Midas, Midas, hello? where are you? Link to comment Share on other sites More sharing options...
churchill Posted June 20, 2011 Share Posted June 20, 2011 Bitcoin value plummets as main exchange is hacked http://www.newscientist.com/blogs/onepercent/2011/06/bitcoin-value-plummets-as-main.html Link to comment Share on other sites More sharing options...
midas Posted June 21, 2011 Share Posted June 21, 2011 " What's interesting about the coverage of the Bitcoin is its rapid decent from clear and sunny to treacherously cloudy in the blink of an eye. Well, more like three weeks, but breathtakingly fast nonetheless." Malware Theft of Bitcoins a False Flag to Discredit Revolutionary Currency? http://www.activistpost.com/2011/06/malware-theft-of-bitcoins-false-flag-to.html Link to comment Share on other sites More sharing options...
TyGrr Posted August 23, 2011 Share Posted August 23, 2011 i would like to say i use www.bahtcoin.com to turn my bitcoins into baht and buy phone credit. also, this is a very very cheep way to send money from the usa to thailand with out banks getting involved. no 150 atm baht fees and the like. i use bitcoins to transfer money but i also mine inside of thailand. at 11$ now its still very profitable. Link to comment Share on other sites More sharing options...
cloudhopper Posted August 23, 2011 Share Posted August 23, 2011 at 11$ now its still very profitable. I guess that depends if you got them 2 weeks ago at 8 or 2 weeks before that at 14. But saving 150 baht certainly makes enduring that sort of volatility worthwhile I imagine. Link to comment Share on other sites More sharing options...
TyGrr Posted August 23, 2011 Share Posted August 23, 2011 (edited) at 11$ now its still very profitable. I guess that depends if you got them 2 weeks ago at 8 or 2 weeks before that at 14. But saving 150 baht certainly makes enduring that sort of volatility worthwhile I imagine. to get from the money into bitcoins and back out takes less than 5 mins. the volatility is not a while lot in that time frame. sure is better than waiting a week for a bank wire. the network is almost instant. i know you dont understand how this works but it really is cool. no fees no wait. im not saying bitcoins is a great investment but it does have some useful ways to use it. edit: also at 11$ mining is profitable. mining is using your computer to make bitcoins. thats not the same as buying them. Edited August 23, 2011 by TyGrr Link to comment Share on other sites More sharing options...
cloudhopper Posted August 23, 2011 Share Posted August 23, 2011 mining is using your computer to make bitcoins. thats not the same as buying them. Yes you're quite right I don't understand how that works. Just another painful reminder that I am old school now. Link to comment Share on other sites More sharing options...
midas Posted January 3, 2012 Share Posted January 3, 2012 Financial Controls Stepped Up in Belarus as Internet Connections are Locked Down " On the 31st of October, last year, I reported on the disproportionate number of people in Belarus and Ukraine that were using Bitcoin, postulating that it may have had something to do with the precariousness of their currencies." http://www.thebitcointrader.com/2012/01/financial-controls-stepped-up-in.html Link to comment Share on other sites More sharing options...
churchill Posted November 10, 2012 Share Posted November 10, 2012 Interesting 2nd half about bitcoin use .... Perhaps it will catch on Link to comment Share on other sites More sharing options...
Naam Posted November 11, 2012 Share Posted November 11, 2012 Bitcoin... the wet dream http://www.google.co.uk/search?hl=en&as_q=bitcoin+fraud&as_epq=&as_oq=&as_eq=&as_nlo=&as_nhi=&lr=&cr=&as_qdr=all&as_sitesearch=&as_occt=any&safe=images&tbs=&as_filetype=&as_rights= Link to comment Share on other sites More sharing options...
churchill Posted November 11, 2012 Share Posted November 11, 2012 Bitcoin... the wet dream http://www.google.co...ype=&as_rights= I don't suppose you listened .. ? but it discussed Bitcoin use in Argentina ... see also The Blue Market: Bitcoin, Dollars and Pot-Banging Protests in Argentina http://www.dgcmagazine.com/the-blue-market-bitcoin-dollars-and-pot-banging-protests-in-argentina/#more-583 and ECB: "Roots Of Bitcoin Can Be Found In The Austrian School Of Economics" http://www.forbes.com/sites/jonmatonis/2012/11/03/ecb-roots-of-bitcoin-can-be-found-in-the-austrian-school-of-economics/ Link to comment Share on other sites More sharing options...
Naam Posted November 11, 2012 Share Posted November 11, 2012 Bitcoin = BS... period! Link to comment Share on other sites More sharing options...
Naam Posted November 11, 2012 Share Posted November 11, 2012 "Islamic" gold coins =- BS... period! Link to comment Share on other sites More sharing options...
churchill Posted November 13, 2012 Share Posted November 13, 2012 Blackmail,Romney , Bitcoins ..... 'There have been some new twists in the strange case of an alleged attempt to blackmail Mitt Romney for $1 million in bitcoins, raising additional legal questions about the digital currency.' http://www.americanbanker.com/bankthink/plot-thickens-in-bizarre-bitcoin-blackmail-caper-1054312-1.html Link to comment Share on other sites More sharing options...
Tywais Posted July 30, 2013 Share Posted July 30, 2013 Closed as the government has made trading in bitcoins illegal in Thailand now. http://www.thaivisa.com/forum/topic/657170-bitcoins-banned-in-thailand/ Link to comment Share on other sites More sharing options...
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