Bitcoins banned in Thailand

[Darvil]

excellent link. I'm going to share it with my friends. Of course only those who have genuine curiosity to understand it.

[churchill]

China Bans Bitcoin Exchanges From Taking New Cash

http://www.economicpolicyjournal.com/2013/12/breaking-china-bans-bitcoin-exchanges.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economicpolicyjournal%2FYZSb+(EconomicPolicyJournal.com)

[oakweb]

good time to buy @ $568

I don't think it will hit $400, that's what it was before China was interested.. now with all the exposure and interest generated elsewhere..

http://www.coindesk.com/ Denmark announced not to be regulated

[Naam]

good time to buy @ $568

I don't think it will hit $400, that's what it was before China was interested.. now with all the exposure and interest generated elsewhere..

http://www.coindesk.com/ Denmark announced not to be regulated

some people said "good time to buy @ $1,000"

[Naam]

For those who are into bitcoin or want to learn more, this is a great primer on it http://t.co/zGjwyUl3WD It's very long and a lot of annoying sounds of dinner in the background but this guy does a great job.

For those who consider bitcoin the second coming of tulips, don't bother.

no experienced investor would call it "second coming of tulips". more likely that he calls Bitcoins "392nd coming of tulips".

[ukrules]

For those who are into bitcoin or want to learn more, this is a great primer on it http://t.co/zGjwyUl3WD It's very long and a lot of annoying sounds of dinner in the background but this guy does a great job.

For those who consider bitcoin the second coming of tulips, don't bother.

no experienced investor would call it "second coming of tulips". more likely that he calls Bitcoins "392nd coming of tulips".

I don't know what the situation was back in the 'Tulip mania' era but we do know for sure that Tulips alone are still a billion dollar a year industry today....

[farang000999]

I don't have any idea why bit coin is better than e-gold besides that it is decentralized and thus the government can't just go and arrest someone like they can with an e-gold.

[farang000999]

The China ruling actually appears to be positive for Bitcoin from what I'm reading. They've essentially classified it as a commodity instead of a currency, which means that Bitcoin exchanges are free to trade Yuan for Bitcoin as they wish without the heavy handed government regulations and confiscations that US Bitcoin exchanges face.

This conversation is going to go the same way all the gold debates go:

Is there going to be deflation? Great! Gold does great in a deflationary enviroment. This is actually good news!

Inflation? Awesome. Gold does great in an inflationary enviroment!

I already see numerous articles about why China's latest regulations are actually good for Bitcoin.... SO BUY NOW...

Edited December 19, 2013 by farang000999

[Naam]

no inflation no deflation? the perfect situation for <insert preferred asset> to skyrocket.

[oakweb]

Overstock.com to accept Bitcoin

http://www.coindesk.com/overstock-first-major-us-retailer-bitcoin/

Amazon, my prediction, by 2016

[ukrules]

Overstock.com to accept Bitcoin

http://www.coindesk.com/overstock-first-major-us-retailer-bitcoin/

Amazon, my prediction, by 2016

Amazon to be irrelevant by 2015.

[chiangmaisurprise]

The Dollar has some problems that cryptocurrencies will solve. 1) It cost a lot to produce compared to the cryptocurrencies. 2) it cost a lot to track and stop counterfeiting, you can not counterfeit Bitcoins. 3) Nothing will speed trade like cryptocurrencies.
4) Cryptocurrencies intrinsic value is they are a ligitimate Medium of Exchange. 5) they are highly divisible 6) They store the value that the marketplace places upon them. The only downside of currencies is that they are decentralized. When the Fed centralizes its version of cryptocurrencies, its on and the rest of the governments will do likewise.

[Big Pinkie]

while browsing the pirate came across this http://thepiratebay.se/torrent/9437915/SMOS_Linux_1.2_-_Scrypt_Mining_Operating_System

SMOS Linux 1.2 - Scrypt Mining Operating System

SMOS Linux 1.2:

http://www.smos-linux.org/screenshot/



Web status upgrades:
- ADL, Catalyst, Cgminer version in status
- Time and Uptime of your rig in status
- Easy cgminer config change from web status interface
- Shortcut for easy mining stop/start
Web status interface for pools fixed
ADL upgraded to 6.0
Catalyst upgraded to 13.11b
Cgminer upgraded to 3.7.2
SMOS 1.2 support all r9 cards (270,270x,280,280x,290,290x) and all older cards
User details - user:smoslinux
xrdp installed by default

P.S. Donations are welcome. Enjoy!
LTC: LYJ7YL9akXmRo249Kj7y59o4x813NeFpA8



05f7f40d036164adf8263082bb8f8dba SMOS-Linux1.2-2GB.zip

havent tried it but am going to take a look. hope its just install and start the money rolling in

direct torrent link http://torrents.thepiratebay.se/9437915/SMOS_Linux_1.2_-_Scrypt_Mining_Operating_System.9437915.TPB.torrent

Edited January 6, 2014 by Big Pinkie

[Naam]

history repeats itself. bitcoins = new tulips (a sucker is born every minute)

[ukrules]

history repeats itself. bitcoins = new tulips (a sucker is born every minute)

Plenty of these 'suckers' have made millions of dollars in recent months.

Need I remind you that the tulip industry is still to this day a billion dollar a year industry in the Netherlands ?

[SheungWan]

The China ruling actually appears to be positive for Bitcoin from what I'm reading. They've essentially classified it as a commodity instead of a currency, which means that Bitcoin exchanges are free to trade Yuan for Bitcoin as they wish without the heavy handed government regulations and confiscations that US Bitcoin exchanges face.

This conversation is going to go the same way all the gold debates go:

Is there going to be deflation? Great! Gold does great in a deflationary enviroment. This is actually good news!

Inflation? Awesome. Gold does great in an inflationary enviroment!

I already see numerous articles about why China's latest regulations are actually good for Bitcoin.... SO BUY NOW...

Gold does not always do great in an inflationary environment. However, gold is a physical substance with identifiable costs of extraction. I fail to get my head around the concept of Bitcoin mining.

[Big Pinkie]

history repeats itself. bitcoins = new tulips (a sucker is born every minute)

yes but you have to take a look at your investment wagered verses the potential income.

so its just bandwidth to download the miner currently free as this costs is included elsewhere and extra bandwidth isnt reckoned, so that leaves electricity, once again it is multitasked so just backgrounded. so it will cost me a big fat zero to take a look and last i looked bitcoin was capitalised at in excess of ten billion dollars so some are doing very well indeed. so what am i risking just my time for maybe some gain. and curiosity satisfaction.

[chiangmaisurprise]

history repeats itself. bitcoins = new tulips (a sucker is born every minute)

Definition of a sucker:

One who watches other people make loads of money while sitting blindly on the sidelines

[oakweb]

With those ATM's going to Taiwan and Hong Kong prices are sure up again. I'm interested to see prices when Overstock offers it as a payment, and more of those ATM's hit.

As far as being suckers, I'm interested in hearing from "Naam" what he thinks the scenario of a crash would be, I don't mind skepticism, it's always a good idea to analyze investments.

But I've not heard exactly what he thinks is going to happen to make it fall. e.g. will all Crypto's fail? or just Bitcoin?

My Mining Stats:

Currently hashing now at 4.95 TH/s, 24 Hour Earnings 2.39892278 BTC

Projected Hash Rate by March is now 33.95 TH

Please note I have no power or bandwidth costs

[Big Pinkie]

while browsing the pirate came across this http://smos-linux.or...2GB.zip.torrent

you can sort it i got other things to do

Edited January 6, 2014 by Big Pinkie

[oakweb]

you don't need a special OS of any type to mine BTC, stay away from anything offered as a torrent

[Big Pinkie]

you don't need a special OS of any type to mine BTC, stay away from anything offered as a torrent

torrents are commonly used to distribute many linux OS to share the load and for some, to utilise multiple webseeds giving very fast downloads. usually they are verifiable by md5sum or sha1sum to check separately that you got what you thought. for other stuff yes you take your chances for the price ventured. if you are using linux that other concern of virus promulgation is a non existent scare.

the reason i was interested in this one is because it claims to be ready configured that can be a battle in some linux OS for various things,

by way of example here is a website http://linuxtracker.org/index.php dedicated solely to various linux torrents

Edited January 6, 2014 by Big Pinkie

[Naam]

With those ATM's going to Taiwan and Hong Kong prices are sure up again. I'm interested to see prices when Overstock offers it as a payment, and more of those ATM's hit.

As far as being suckers, I'm interested in hearing from "Naam" what he thinks the scenario of a crash would be, I don't mind skepticism, it's always a good idea to analyze investments.

But I've not heard exactly what he thinks is going to happen to make it fall. e.g. will all Crypto's fail? or just Bitcoin?

My Mining Stats:

Currently hashing now at 4.95 TH/s, 24 Hour Earnings 2.39892278 BTC

Projected Hash Rate by March is now 33.95 TH

Please note I have no power or bandwidth costs

assuming your claim THB 4.95/s is correct i say "congratulations!" however, my advice is "keep on mining but cash in whatever you are making".

reason: crashes of Bitcoin and similar assets happen too fast to react.

[oakweb]

If I feel a crash is coming on, or think it just won't make it, sure. Right now I play with 50 BTC and buy and sell on crashes and rises. I sold a bit early on this last round, waiting for next country to announce they will block to buy back in.

I'll hold on to my other mined coins for now.

Also using them to buy stuff online, customers are now paying in BTC too.

[hawker9000]

history repeats itself. bitcoins = new tulips (a sucker is born every minute)

Plenty of these 'suckers' have made millions of dollars in recent months.

Need I remind you that the tulip industry is still to this day a billion dollar a year industry in the Netherlands ?

Money can be made, but... MILLIONS of dollars? RECENT months? Can you even come close to substantiating that?

[oakweb]

history repeats itself. bitcoins = new tulips (a sucker is born every minute)

Plenty of these 'suckers' have made millions of dollars in recent months.

Need I remind you that the tulip industry is still to this day a billion dollar a year industry in the Netherlands ?

Money can be made, but... MILLIONS of dollars? RECENT months? Can you even come close to substantiating that?

Traders, investors, bitcoin miners, start ups, huge list of people that have made "millions". With my efforts I've been able

to pull in quite a bit as well.

You heard about the guy that lost 7000 coins in the dump, and the other guy that bought in when it was pennies and bought a condo. These are just

some example stories. Of course later adopters will not have the same return, but the potential for growth could be that if you adopt now in 5 years

you could have your own story to tell.

Who knows

[farang000999]

Someone explain to me why Bitcoin is superior to e-gold?

You buy 15 ounces of gold and have them in your account and when you buy something they are transferred to another account. You might pay transaction fees of .001 or whatever.

Answer:

Because 15 ounces of gold can't appreciate 1000000% like Bitcoin might.

What about Apple/Amazon money? Same concept. Money is transferred from one account to another for a tiny tiny fee....

Answer:

Because Amazon money can't appreciate 10000000% like Bitcoin might.

Seriously though, tell me why bitcoin is better than e-gold? If you spend gold you are spending something that has basically tracked inflation for the last 200 years. isn't that the goal:

1. lower fees...

2. gov can't print it

Bitcoin has no intrinsic value. It is 100% "fiat" money but unlike the USD there is no government demanding payment in it.

nobody gives a flying &lt;deleted&gt; about e-gold because you can't make any money in it...

to make crazy money you can't sell bottles of soda you have to sell magic pixie dust.

Edited January 7, 2014 by farang000999

[oakweb]

well here is one main reason:

"the Justice Department indicted the E-gold proprietors on four counts of violating money laundering regulations"

Who would they prosecute for Bitcoin?

Also I would say the Bitcoin is elegant in the way that it works with it's checks and balances. It's a far superior system to use, especially for developers.

With Zynga adoption of it, and more on the way, it shows developers keen interest to utilize it.

[beb]

Someone explain to me why Bitcoin is superior to e-gold?

You buy 15 ounces of gold and have them in your account and when you buy something they are transferred to another account. You might pay transaction fees of .001 or whatever.

Answer:

Because 15 ounces of gold can't appreciate 1000000% like Bitcoin might.

What about Apple/Amazon money? Same concept. Money is transferred from one account to another for a tiny tiny fee....

Answer:

Because Amazon money can't appreciate 10000000% like Bitcoin might.

Seriously though, tell me why bitcoin is better than e-gold? If you spend gold you are spending something that has basically tracked inflation for the last 200 years. isn't that the goal:

1. lower fees...

2. gov can't print it

Bitcoin has no intrinsic value. It is 100% "fiat" money but unlike the USD there is no government demanding payment in it.

nobody gives a flying fuc_k about e-gold because you can't make any money in it...

to make crazy money you can't sell bottles of soda you have to sell magic pixie dust.

It's a bit rich to use hyperbole when criticizing btc when you're promoting something that is no longer available. Why is it better? Well, for one, it actually exists.

[farang000999]

E-gold was under financed and the people who ran it did a very poor management job. They did not do enough to verify accounts or prevent money laundering. The government shut them down but didn't send anyone to jail or anything like that, it was not "a conspiracy". No reason why someone can't start up a e-gold2.