RIP Bitcoin

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28-01-2018, 04:57 PM
Mr Earl

Quote:

Originally Posted by Dragonfly

Privacy ? you mean money laundering ?, no, as all transactions are accounted for, fiat is a better money laundering vehicle with no ledger.

Gold has value and easy transportable globally, and it's more secure than Bitcoins apparentl Gold terrible to transport, not easily divisible and easily seized by government

The virtue is the secure time tested cryptography and the way it makes you your own bank, free to do peer to peer transactions anywhere anytime with anyone, without government or bankster interference.
28-01-2018, 05:17 PM
Luigi

Gonna put an even amount of money on 2, 3 or 4 coins on BX, then pull it all out and bank any profit after a few days.

Any inside scoop on expected short-term movement? :)

ETH is doing well enough today at 7.85%, a wee dip and I'll be on it. :)
28-01-2018, 05:31 PM
OhOh

Quote:

Originally Posted by Mr Earl

Totally revolutionary, humanity has never seen anything like Bitcoin before.

It's real value as a secure asset away from fiat devaluations is very real.

The quick and secure global transfers of wealth equals very real utility, no question about it.

Revolutionary, not so fast, look back a thousand years plus ago.

I'm sure the Kights Templar, what with those choosing to send "treasure" safely, through dangerous "regimes" without some knowing, would disagree. They were the quickest, cheapest, safest and honest in their time. Peer to peer, distributed data bases. Also greatly trusted, unlike the "exchanges" of today.

There would also have been similar agencies along the Silk Road, but aren't mentioned in "approved western" history books:)
28-01-2018, 05:34 PM
Dragonfly

indeed, if you are stuck in the middle of nowhere with your USB safebox and your bitcoins, that's not going to pay for a camel and a bed for the night

while having gold in your pocket :)

so bitcoins really doesn't have any purpose except launder money in the high tech world,
28-01-2018, 05:44 PM
YourDaddy

Quote:

Originally Posted by Dragonfly

indeed, if you are stuck in the middle of nowhere with your USB safebox and your bitcoins, that's not going to pay for a camel and a bed for the night

while having gold in your pocket :)

so bitcoins really doesn't have any purpose except launder money in the high tech world,

Bitcoin basher here, but to be fair anything under the sun can be used to launder money.

I am against investing in this as it does look like a massive Asian fuelled ponzi.
28-01-2018, 05:47 PM
Mr Earl

Quote:

Originally Posted by Dragonfly

indeed, if you are stuck in the middle of nowhere with your USB safebox and your bitcoins, that's not going to pay for a camel and a bed for the night

while having gold in your pocket :)

so bitcoins really doesn't have any purpose except launder money in the high tech world,

Ya fail to recognize we are witnessing the dawning of a new age, one that is made possible by the existence of a currency not controlled by government.

A truly honest peer to peer financial vehicle, which resides in a very sophisticated cryptography globally distributed on the world's most powerful computing network.
No question about it bitcoin is truly revolutionary.
28-01-2018, 05:49 PM
Dragonfly

Quote:

Originally Posted by YourDaddy

I am against investing in this as it does look like a massive Asian fuelled ponzi.

indeed, that's exactly what it is, it smells of corruption all the way :)
28-01-2018, 05:58 PM
OhOh

Quote:

Originally Posted by Luigi

Gonna put an even amount of money on 2, 3 or 4 coins on BX, then pull it all out and bank any profit after a few days.

Any inside scoop on expected short-term movement? :)

Wait for the CryptoRuble, backed and taxed by The LORD.
28-01-2018, 06:06 PM
OhOh

Quote:

Originally Posted by Dragonfly

while having gold in your pocket :)

You know very well you don't hide gold in your pocket.
28-01-2018, 06:10 PM
OhOh

^^^^^

As the guy was Japnese, who are ameristan vassals, surely the guilt is elsewhere.
28-01-2018, 06:42 PM
Mr Earl

Quote:

Originally Posted by YourDaddy

Bitcoin basher here, but to be fair anything under the sun can be used to launder money.

I am against investing in this as it does look like a massive Asian fuelled ponzi.

The true ponzi scheme is the USD and Social Security, one is backed by nothing the other is flat out thievery and military intimidation.

Bitcoin and crypto on the other hand is backed by an advanced cryptography and a powerful globally distributed decentralized computing network.
Unlike the USD Bitcoin represents value which is deflationary.
Unlike the USD which is inflationary and represents thievery and 100 years of warmongering.
28-01-2018, 06:43 PM
harrybarracuda

Quote:

Originally Posted by Dragonfly

all those exchanges are probably using crap Windows server as their backoffice ops,

any good Russian hackers can go there like there was no back door :)

Bricks were obviously shat.

Quote:

TOKYO (Reuters) - Tokyo-based cryptocurrency exchange Coincheck Inc said on Sunday it would return about 46.3 billion yen ($425 million) of the virtual money it lost to hackers two days ago in one of the biggest-ever thefts of digital money.
28-01-2018, 07:24 PM
Maanaam

Quote:

Originally Posted by Mr Earl

Bitcoin and crypto on the other hand is backed by an advanced cryptography and a powerful globally distributed decentralized computing network.

In other words, whoever invests in mining tech first gets to be rich for nothing other than creating a string of bytes on the gambit that others invest on the hope that even more people will buy in.
Doesn't sound like being "backed" to me.
Way back in this thread someone talked about magic rabbits feet. Spot on.
28-01-2018, 08:12 PM
jabir

Quote:

Originally Posted by Dragonfly

Privacy ? you mean money laundering ? :)

Gold has value and easy transportable globally, and it's more secure than Bitcoins apparently :)

Fee for money transfer all over Europe is free for all SEPA accounts, don't need crypto, just good XML and Java :)

Isn't the pre-btc financial system what launderers used and still use for laundering? Just saying, because if I came from Mars and litsened to the sceptics I would think btc created the concept and the means for money laundering.

But for sure gold and hard currencies have a measure of safety and security that by definition cryptos cannot enjoy; lose or have your btc stolen and it's gone, untraceable, no need for a truck to cart away x billions. Future crime for the wise crims in our time!
28-01-2018, 08:16 PM
jabir

Quote:

Originally Posted by Dragonfly

all those exchanges are probably using crap Windows server as their backoffice ops,

any good Russian hackers can go there like there was no back door :)

Every system has a back door, otherwise programmers couldn't access to tweak or fix.
28-01-2018, 08:20 PM
jabir

Quote:

Originally Posted by Dragonfly

indeed, if you are stuck in the middle of nowhere with your USB safebox and your bitcoins, that's not going to pay for a camel and a bed for the night

while having gold in your pocket :)

so bitcoins really doesn't have any purpose except launder money in the high tech world,

Surely a pocketful of worthless diamonds would be better than lugging bullion into the middle of nowhere.

Out of interest, how much is a diamond worth?
28-01-2018, 08:37 PM
lob

just lifted this from D mail.

Armed robbers broke into a house in a wealthy Home Counties village and forced a cyber-currency trader to transfer a fortune in Bitcoin to them on his computer.
28-01-2018, 09:19 PM
Luigi

Just totaled up me long-term portfolio for the first time in a while.

Last Sunday it was +63.4%
Today +33.5%

Another 10 1/2 months to go. :)
28-01-2018, 10:35 PM
jabir

ICX performing well, one of my 3 bankers....now waiting patiently for STRAT and NEO.
28-01-2018, 10:44 PM
jabir

Quote:

Originally Posted by lob

just lifted this from D mail.

Armed robbers broke into a house in a wealthy Home Counties village and forced a cyber-currency trader to transfer a fortune in Bitcoin to them on his computer.

Future crime, so much faster, easier and safer than lugging away a TV or bullion.
28-01-2018, 10:45 PM
Luigi

^^ yeah, 17% for the day.

It was one my mate's recommended a few weeks ago.

Good luck with them.

Out of the current sludginess, ETH is the only one of the big players making gains at the moment.
28-01-2018, 11:06 PM
Mr Earl

Quote:

Originally Posted by jabir

Future crime, so much faster, easier and safer than lugging away a TV or bullion.

You never let anyone know how many bitcoins you own. Do not show off your wealth. That is the future.
28-01-2018, 11:13 PM
jabir

Quote:

Originally Posted by Luigi

^^ yeah, 17% for the day.

It was one my mate's recommended a few weeks ago.

Good luck with them.

Out of the current sludginess, ETH is the only one of the big players making gains at the moment.

Mainnet was released, received well and ICX has announced more good news this week with a prestigious conference tomorrow in SK, while the gov appears to have backed away from it's earlier FUD; NEO (Chinese ETH) is hosting DevCon in SFran and STRAT is 'reliably' rumoured to be making a yuuge announcement this week...should be an interesting few days.
28-01-2018, 11:22 PM
Luigi

Sweet. Cheers.
28-01-2018, 11:28 PM
Mr Earl

Quote:

Originally Posted by Maanaam

In other words, whoever invests in mining tech first gets to be rich for nothing other than creating a string of bytes on the gambit that others invest on the hope that even more people will buy in.
Doesn't sound like being "backed" to me.
Way back in this thread someone talked about magic rabbits feet. Spot on.

It is interesting to observe how in 1993 few people really understood the significance of the internet.

Today we are in the same place with Bitcoin. Bitcoin is the internet of money!

Yet we have many so called "financial experts" like Paul Krugman, Peter Schiff, Warren Buffet and others, still comparing Bitcoins to Beanie Babies.

Just like the internet changed the world, Bitcoin is going to change the internet, and this time it will happen much faster.

HODL...It is going to be a wild ride! :bananaman: