Bitcoin

[Guest fiznuthian]

Well the problem here is mostly just user stupidity. Everyone knew that unless you secure your coins yourself, they are at serious risk of being lost. It's all over bitcoin forums, subreddits, IRC channels, etc.. You'd have to be a royal idiot to keep most of your coins on an exchange account.

 

The ones who had the most on the exchange were probably bitcoin traders.. sucks for them.

[azatoth]

There was this pyramid scam here a few years ago with the main perp getting convicted and all for fraud, yet those that signed up for that scam still think it's coming back and they'll get their money.

[roasty]

[Nebraska]

It's bigger than Mt Gox now and you can trade in other places if I understand it correctly. I reckon it'll recover from this.

 

it also proves people can't police themselves and need government intervention to regulate things. the japanese police will issue an investigation- which could in turn mean that the exchanges could now have police regulations so...

[Guest AsylumSeaker]

That mistakes are made now doesn't prove that people can't police themselves any more than the mistakes of children does. The concept is young, give it a decade or two.

I've got a project in motion running on a 'fremium' type model, the premium subscription for which I plan to make payable by regular money, but also by bitcoin (and other coins) at a discounted rate. So it would be (say) $5 on paypal, but (say) $2.50 equivilent if you pay by bitcoin. This is somewhat speculative on my part, in the hope that that $2.50 will eventually be worth $5 anyway, but it's also a move calculated to encourage uptake of the currency for payment of services, rather than just speculation. Hopefully as more people write widgets and such for easy integration of bitcoin payment into websites etc, this will become more common.

Edited February 26, 2014 by AsylumSeaker

[delet...]

bounce ...

[Nebraska]

That mistakes are made now doesn't prove that people can't police themselves any more than the mistakes of children does. The concept is young, give it a decade or two.

 

but that's how the internet started out too. there was a time when the clearnet was more like the darknet until more and more people started getting on the net and suddenly it was necessary to police things because it was technically not policed. when more and more legit businesses started getting on the internet- well, suddenly things had to change because now you can't have people sending you images of decapitated bodies etc.

 

right now, the only reason i see that bitcoin isn't regulated is because not many people depend on it, but as soon as this begins to change i can't see governments just letting it work without some kind of intervention. i can pretty much guarantee you there is no way this will work without being policed by a third party.

[azatoth]

[Guest AsylumSeaker]

Some degree of regulation / interference is already happening, but it's not the sort of thing that can be completely regulated in the way that a government issued currency can be. All that governments can do is regulate the way their citizens interact with bitcoin, they can't do much about the coin itself. And whatever laws they set up to control people's interaction with bitcoin, opportunities will arise in a similar way to the opportunities created by drug laws which make drug criminals rich.

 

Anyway, bitcoin is probably just the beginning. There are other projects in motion that reconsider the concept, now with the benefit of a few years hindsight. ala: http://www.ethereum.org/

Edited February 26, 2014 by AsylumSeaker

[Nebraska]

Some degree of regulation / interference is already happening, but it's not the sort of thing that can be completely regulated in the way that a government issued currency can be.

 

one of the main things currently stopping financial institutions and governments from fully accepting bitcoin is that it lacks consumer protection, and this is exactly the thing that the original bitcoin protocol was meant not to be dependent on.

 

i can see a couple of startups trying to fix this: like flexcoin and coinbase, but considering 3% of all the bitcoins that will ever exist just vanished, i see some serious regulations either coming into play or bitcoin not really becoming the currency replacement it was meant to be

[LimpyLoo]

Can someone explain to me the appeal of Ron Paul. I was very confused about all the support he got.

[Cryptowen]

Can someone explain to me the appeal of Ron Paul. I was very confused about all the support he got.

well see if you were 13 like me during the 2004 election, ron paul looked like a pretty cool dude because supporting him meant rebelling not only against uptight middle-aged republicans but also against your uptight middle school classmates who'd just discovered politics by way of michael moore

[Nebraska]

 

It's bigger than Mt Gox now and you can trade in other places if I understand it correctly. I reckon it'll recover from this.

it also proves people can't police themselves and need government intervention to regulate things. the japanese police will issue an investigation- which could in turn mean that the exchanges could now have police regulations so...

 

 

"The crowdsourcing so far has been a miserable failure. The problem, Gun Sirer and others say, is two-fold: users of such forums are not always methodical or disciplined in their research on one hand, and on the other, bitcoin's combination of transparency and complexity invites the unwary to draw false conclusions." Emin Gun Sirer of Cornell University

 

http://www.reuters.com/article/2014/03/05/us-bitcoin-mtgox-cybersleuths-idUSBREA2429L20140305

 

btw: flexcoin is also done

 

Edited March 6, 2014 by Nebraska

[Rubin Farr]

Autumn Ratke, CEO of Singapore bitcoin exchange foun dead in her apartment. Suicide suspected.

 

http://rt.com/business/radtke-bitcoin-death-singapore-134/

[Nebraska]

meet the real satoshi nakamoto, creator of bitcoin, and his name is really satoshi nakamoto

 

[azatoth]

Watch as his place becomes a pilgrimage point for fedora wearing neckbeards.

[Nebraska]

Watch as his place becomes a pilgrimage point for fedora wearing neckbeards.

 

it has already begun...

 

https://twitter.com/mikko/status/441569172070223872/photo/1

[Nebraska]

Can someone explain to me the appeal of Ron Paul. I was very confused about all the support he got.

 

he's libertarian and conservative. personally, he was my first choice for a vote until he lost to romney (who i hated) because i liked what i heard from him. personally, i don't vote for a party but for individuals so even though he was republican, i viewed him as independent because he clashed with a few major republican viewpoints

[Guest fiznuthian]

Wow that is fucking sad.
The guy spends most of his life avoiding attention and prefers it that way, and now the entire world gets to know who he is.

[Nebraska]

[Chris Toffer]

Not convinced at all hes the real Satoshi dude. Media tryna make a story that is all. Feel sorry for the guy with all these media faggots outside his house

[kokoon]

Yeah I agree.

[Nebraska]

satoshi nakamoto's e-mail address has been compromised whilst "the real" satoshi nakamoto needs bitcoin to help his legal team sue newsweek

[azatoth]

Bitcoin still going to the moon and replacing dirty fiat money?

[chenGOD]

Bitcoin still going to the moon and replacing dirty fiat money?

 

Yes, and 4chan is actually a scholarly resource. ;)