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Reilly
Mountain climber
The Other Monrovia- CA
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Feb 25, 2014 - 03:21pm PT
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It's a startup all right. And there will always be smart people doing shady
things. Give me one reason why a reasonable person would put their hard-earned
money into this instead of a legit investment. It is gambling at best, a
pyramid scheme more accurately. And I'm not gloomy, just a realist and a
legit investor. I love watching 'smart' people lose their asses. Americans
love the new and quick and exciting. I'll stick with making my 14% per year, on average.
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High Fructose Corn Spirit
Gym climber
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Feb 25, 2014 - 03:36pm PT
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Give me one reason why a reasonable person would put their hard-earned
money into this instead of a legit investment. It is gambling at best, a
pyramid scheme more accurately.
Make up your mind, first you had bitcoin in mind as currency, now you're (back to) speaking of it as investment. Frankly, I don't think you're really clear on what bitcoin is and its usefulness. BTC's investment phase might be over. Everyone paying attention knows this. Those who invested early in the innovation made out big time if they got out, say, when China banks did. And by way of their involvement they supported the innovation, good for them. Meanwhile all manner of support technology is coming on line to advance e-currency, so we shall see. It's clear you're happy with your investment strategy so have at it, it's investor's choice. I had .1 btc for awhile in a digital wallet, I used it, as currency, to buy a balaclava (from overstock) among other things. Apart from fun and the learning experience, the transaction went through flawlessly and as far as I could tell it was win-win for all.
Look at your quote again. Don't tell me that's not the attitude of a gloomy gus or debbie downer.
Bye now.
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happiegrrrl
Trad climber
www.climbaddictdesigns.com
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Feb 25, 2014 - 03:38pm PT
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Bitcoin is being taken down, because someone(s) who couldn't get in on it has the power to take it down. Yes, the technology isn't dead. It will come out in another, sanctioned, form. I am betting it will be connected with American Express.
Speculation is a ruthless game and often a dirty game. People who had money in Mt Gox will never see that money again. That's going to be a shot heard round the world, for a lot of people who are riding the fence on crypto-currency.
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Reilly
Mountain climber
The Other Monrovia- CA
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Feb 25, 2014 - 03:38pm PT
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Sorry, I was mislead by your talk of speculating so I thought you were gonna
use it in lieu of a Money Market account. First World Nonsense.
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happiegrrrl
Trad climber
www.climbaddictdesigns.com
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Feb 25, 2014 - 03:51pm PT
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No...I am guessing they have a gun pointed at their head. It should be entertaining to read the official statement.
Hours later, Mt. Gox CEO Mark Karpeles told Reuters in an email: "We should have an official announcement ready soon-ish. We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties." He did not give any other details. http://www.reuters.com/article/2014/02/25/bitcoin-mtgox-idUSL3N0LU1OX20140225
edit: I've got a nephew who posts stuff on FBthat I wouldn't dare respond to, partly out of not wanting to snag some tripwire in his head, but also because I know some of the things he posts have merit. I am a chicken.
But it seems to me there's a pretty concerted campaign been going on to discredit Bitcoin this last year.
The nephew posted this blog story on his feed today, about how misinformation is used to discredit and sabotage. I am guessing that is what is going on with all these Bitcoin bumbles.
http://firstlook.org/theintercept/2014/02/24/jtrig-manipulation/
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StahlBro
Trad climber
San Diego, CA
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Feb 25, 2014 - 03:53pm PT
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Does anyone remember the dot.com meltdown? Same thing.
The infrastructure may be worth something, but any currency not backed by real assets is worthless. As Reilly indicated, it is closer to a pyramid scheme in it's current form.
And people do invest/speculate in the fluctuation of currency valuation, so they are not mutually exclusive.
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happiegrrrl
Trad climber
www.climbaddictdesigns.com
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Feb 25, 2014 - 04:39pm PT
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Currently live streamonYouTube: Andreas M. Antonopoulos
From his website,http://antonopoulos.com/:
Andreas is a passionate technologist, who is well-versed in many technical subjects.......His expertise includes Bitcoin, crypto-currencies, Information Security, Cryptography, Cloud Computing, Data Centers, Linux, Open Source and robotics software development. He also has been CISSP certified for 12 years.
As a bitcoin entrepreneur, Andreas has founded three bitcoin businesses and launched several community open-source projects. He often writes articles and blog posts on bitcoin, is a permanent host on Let’s Talk Bitcoin and prolific public speaker at technology events. Andreas is also writing a bitcoin book for developers
http://www.youtube.com/watch?v=1mWkY5yIAnc&feature=youtu.be
Right now,seems to be not Gox specific, but people may be interested in viewing at leisure,as it is supposed to have a segment on the topic.
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krahmes
Social climber
Stumptown
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Feb 26, 2014 - 12:00pm PT
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We all ready have a virtual currency and it’s called the US Dollar, backed by the full faith and credit of we’ll fuk your sh#t up if you don’t play ball. Murica Fuk Yeah. Enjoy your dentalium shell.
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High Fructose Corn Spirit
Gym climber
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Feb 26, 2014 - 12:43pm PT
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Happie, thank you for your posted link at youtube. That was very useful, insightful.
Curious if you were directed there somehow, by a news story yesterday perhaps, or just happened to come across it. Anyways, I really enjoyed that. Thanks again.
haha...
Donations and tips:
Bitcoin: 1andreas3batLhQa2FawWjeyjCqyBzypd
any coin via Cryptsy key: 93e51571e08fa93fed18ac126d4bcd4bbcfa9962
Good link here, too:
http://antonopoulos.com/
Thanks.
.....
and mine...
1K9o6Kz4QxS62TC1pzVi25n7XcP7D6Bizv
HFCS, too, accepts tips and donations. :)
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Port
Trad climber
San Diego
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Feb 26, 2014 - 12:54pm PT
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Don't like Bitcoin? Don't buy it. That's the beauty of a free market. If someone's dumb enough to invest their life savings,then tough sh#t. That's the nature of RISK. It blows up soometimes. I fail to understand the extreme backlash.
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bjj
climber
beyond the sun
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Feb 26, 2014 - 01:10pm PT
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"The infrastructure may be worth something, but any currency not backed by real assets is worthless."
You mean like, oohhhh... THE US DOLLAR?!
A currency backed by absolutely nothing.
This thread is a perfect example of why some people literally should not be allowed to have an opinion. They read only the most tertiary of things about a subject, would never in a million years understand the core principals, theory and implications about said subject no matter how long they tried, then announce to the world their carefully considered opinion.
Which in this case is to declare the whole subject "Pyramid scheme". Oh and also to smugly interject how they're making 14% (sure you are).
Go back to watching reality TV. You understand nothing.
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happiegrrrl
Trad climber
www.climbaddictdesigns.com
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Feb 26, 2014 - 01:12pm PT
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Curious if you were directed there somehow, by a news story yesterday perhaps, or just happened to come across it.
I saw a Twitter post replying to the person I referenced - Andreas Antonopoulos, in my feed. It was related to the MTGox story, but I cannot recall exactly how. It appeared the man was well regarded, and so I looked at his profile to see if I wanted to follow it. In reviewing his profile, he posted about being on that YouTube Stream. Before posting about the video, I clicked through to his personal website to get further confirmation that he appeared credible, which he did. That made me feel the stream might be worth suggesting.
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High Fructose Corn Spirit
Gym climber
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Feb 26, 2014 - 02:02pm PT
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dmt, go here...
http://blockchain.info/wallet/
As the page says, it takes literally seconds to acquire for yourself a "digital wallet". Do this and then come back here with your btc address that you've created. For yourself. And post it up. Here.
You see, I too have a digital wallet. I keep about $30 dollars or thereabouts in it. For all sorts of little things, so far mostly for internet tipping and minor purchases for fun. Not crazy at all when bitcoin is used in this way, for example.
Post up your public btc address (again, takes only seconds, alright, at most, a minute or two) and...
...then I'll TIP you. That's right. In seconds. Just like that. Voila. Like magic. How about that? your next coffee's on me!!!
This will show a side, one side, of its usefulness, and I think you just might be impressed. Game?
Mind you, it's not for nothing, either. Rather, it's FOR your many posts over the last year or two I've particularly enjoyed - yes, you've grown on me across that time - yes, you can believe it, lol! - and so I want to send a bit of positive reinforcement your way as encouragement to keep up your greatness at this site - which just wouldn't be the same without you. :)
... and to show a bit of the BTC ecosystem's usefulness.
Cheers,
HFCS
.....
It suddenly occurs to me... I wonder were CMac to assign a btc address to every thread on the forum if anything could ever come of that. I know I like some threads more than others and would consider tipping them commensurately. Anyhow just a thought, gotta run...
I think someday it might be standard that every internet presence, more or less, has associated with it an e-commerce digital address.
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nature
climber
Boulder, CO
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Feb 26, 2014 - 02:43pm PT
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ok i now have an empty wallet. curious about this so doing some research.
via blockchain.info 1BC is about 540USD. but I can buy BCs locally at 1BC for 650+USD. why is that?
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High Fructose Corn Spirit
Gym climber
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Feb 26, 2014 - 02:58pm PT
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Nature, cool! Hey my work just got busy. Don't do anything, certainly don't buy any bitcoin yet. I'll be back in a couple of hours. You should have a public address associated with your digital wallet. If not, learn about them, takes literally minutes. When you get one post it here and when I get back we'll test it!
.....
Nice, dmt. Okay, give me a second. This will just be a test amt. Then I gotta run. More later...
Now a minute later...
Okay, check your wallet. What do you have?
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nature
climber
Boulder, CO
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Feb 26, 2014 - 02:59pm PT
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1GWkJCZHdqyabaLFXwemg6zwHvC6EQoWSu
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High Fructose Corn Spirit
Gym climber
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Feb 26, 2014 - 03:04pm PT
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Check your wallets, boys! :)
I've got to run in two minutes, back in a few hours...
Remember, don't buy any bitcoin (at least till you understand something of the ecosystem) and you CANNOT get into any trouble. Obviously.
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nature
climber
Boulder, CO
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Feb 26, 2014 - 03:06pm PT
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0.00042948 BTC $ 0.25
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High Fructose Corn Spirit
Gym climber
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Feb 26, 2014 - 03:09pm PT
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Bingo!!
Your next coffee's on me!
For your cetacean advocacy! :)
.....
Nice, dmt.
Now check it again.
For the many fine posts of yours I've enjoyed during my time here!
Cheers!
If you can't find a handy converter, most wallets have one, I'll post up a favorite later tonight.
In the meantime check out mycelium, it's my favorite far and away for my mobile device. It shows both BTC and USD. Later...
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dave729
Trad climber
Western America
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Feb 26, 2014 - 04:17pm PT
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The concept of money has always been weird. How times have changed. Once
upon a time back in that primitive age of 2013, you could get rich if
you could crank out bitcoin hashes at peta speed.
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