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2013-03-06 04:51 32052146 Anonymous (1362227781634.png 161x207 84kB)
Bitcoin is now $45 Is it still a scam or the future of digital money?

2 min later 32052200 Anonymous (image.jpg 251x238 11kB)
>>32052146 What the fuck? The other day it was $30

3 min later 32052217 Anonymous
yeah, mega got into it and coinlab is doing some crazy stuff with wall-street. buying like crazy...

4 min later 32052223 Anonymous
>>32052200 price is rising fast as fuck currently and not falling, i only have 0.87833365 BTC though...

5 min later 32052242 Anonymous
What is bubble?

5 min later 32052256 Anonymous
>>32052200 that's what they call a bubble

5 min later 32052257 Anonymous
>Investing in a commodity where a few people can fuck everyone over in a matter of days lel

6 min later 32052269 Anonymous
>>32052217 >mega automatically lost any credibility.

6 min later 32052278 Anonymous
http://falkvinge.net/2013/03/06/the -target-value-for-bitcoin-is-not-so me-50-or-100-it-is-100000-to-100000 0/ btc going to 1,000,000 usd in 6 years...

7 min later 32052284 Anonymous
>>32052257 >not using it to your advantage

7 min later 32052288 Anonymous
>>32052269 yeah, trying to avoid paypal/credit cards.

8 min later 32052312 Anonymous
>tfw when you sold at $10 It was at 20 last year and sank to 9. I told myself that if it got back up to 10 to sell, so I did. I had 68 bitcoins at the time.

9 min later 32052324 Anonymous (Gentlemen_Being_Is_Vain.jpg 926x656 74kB)
I JUST WANTED A OPAQUE TRANSACTIONAL CURRENCY TO FOR PURCHASES AND THEN PEOPLE HAD TO "INVEST" IN IT! IS THAT TOO MUCH TO ASK?!

9 min later 32052327 Anonymous
>>32052278 fucking impossible unless tons of coins are pulled from circulation and the whole world adopts it

10 min later 32052355 Anonymous
>>32052327 that is more or less what he says will happen.

11 min later 32052368 Anonymous (25939785.jpg 400x400 70kB)
>>32052146 Well played, cryptonerds, well played.

13 min later 32052405 Anonymous
>>32052355 man i have no idea if i should sell now or not

14 min later 32052436 Anonymous
>>32052405 i sold 5% at 35$ and will buy a new truck... i'm holding most of it for years and years...

16 min later 32052475 Anonymous
>>32052436 >i sold 5% >new truck how much do you have?

16 min later 32052488 Anonymous (1351037345387.jpg 500x500 47kB)
Quote from BTC talk I don't care about the busts. I am riding this pig wherever it takes me. If it tanks, I'll have a helluva story to tell. I'm sick of half measures. I'm swinging for the fences and If I strike out, so be it. I won't be some mediocre drone living a life of quiet desperation. I believe in bitcoin and I'm going for broke, knowing the risks.

16 min later 32052489 Anonymous (kawachi is a faggot.jpg 600x450 60kB)
Wait until the bubble pops and it sinks back down to $5 or whatever happens all the time

16 min later 32052494 Anonymous
Why are people fucking up the way I pay for drugs?

17 min later 32052512 Anonymous
True story: Before Bitcoins took off and they weren't worth anything, a guy bought a pizza from some other miner for 10,000 bitcoins. That's now worth $420,000. I heard about bitcoins in 2009 and mined for an hour on my GTX 280 at 50 MHash solo because I didn't invest the time to learn what I was doing. Back then I still could have made quite a few in pools due to the low difficulty rating.

18 min later 32052531 AnarchoCapitalist (1350842847596.jpg 563x632 67kB)
It's the future of digital and physical money.

19 min later 32052560 Anonymous
>>32052475 iv been at it for a while, then got into asics so im pretty set up:) also i do litecoins

20 min later 32052578 Anonymous
>>32052512 gpu mining... 20009 oh lulz

20 min later 32052579 Anonymous
>>32052146 how isn't this a scam? I tried to buy bc from mtgox but they wanted my fucking drivers license. There is no way that doing illegal things with bitcoins isn't traceable.

21 min later 32052597 Anonymous
>>32052579 you can buy btc in person with cash, or cash in the mail.. try google, watch out for scams.

21 min later 32052600 Anonymous
I wonder how hard this currency pisses socialists off? lol They'll probably try to ban it or something like how FDR confiscated gold in the great depression.

22 min later 32052609 Anonymous
>>32052579 you are a fucking idiot who can't read

22 min later 32052622 Anonymous
When is coinbase going to start selling bitcoins again? They've been "over their limit" for the past couple days.

23 min later 32052630 Anonymous
even i have joined the buttcoin master race. i even if i get just 1 bit cent out of it im the next triliionaire!

23 min later 32052633 Anonymous
>>32052597 That's my problem. All of the avenues seem like a scam to me still. I'm intrigued as all hell, but I'm sure I'll get ripped off either by a scam or buy the price falling monstrously the day after I buy one.

24 min later 32052639 Anonymous
I'm still trying to wonder if I should even invest time into bitcoins or not.

24 min later 32052647 Anonymous
>>32052600 How can they? As long as people use it, it will always exist.

25 min later 32052663 Anonymous
>>32052647 ban the use of wallets in the US

26 min later 32052691 Anonymous
>>32052663 just like they banned cp?

29 min later 32052743 Anonymous
>>32052609 how so?

30 min later 32052753 Anonymous
>>32052691 Its a bit different because they'll be able to attack some major exchanges and reduce the credibility of bitcoin. It won't die fully but will never be able to fully take off if they ban it.

30 min later 32052761 Anonymous
>>32052743 you don't HAVE to put in any personal information, thats only if you want a verified account for larger transactions and less fees

32 min later 32052786 Anonymous
>>32052761 do not use my gox. if you do not give them the id they will just lock your account until you do... there are other and better options than mt gox.

35 min later 32052853 Anonymous
>>32052786 like?

35 min later 32052862 Anonymous
>>32052786 Could you list some? So far I'm looking at Coinbase (which isn't selling) and Bitcoin-24 (which has no convenient way for me to get money there).

39 min later 32052944 Anonymous
>>32052853 >>32052862 depends on what you want go to bitcointalk.org and lurk or just ask, tell them where you live and what you want to do. also on freenode #bitcoin and #bitcoin-otc but watch out for scams.

40 min later 32052948 Anonymous
>>32052862 You have to link your bank account with coinbase. If you're going to go that route, I'd link it now (even though they aren't selling) because it takes about a week for them to process it. If you're going to be buying something illegal with them, just tumble the coins before sending them to your drug wallet.

41 min later 32052972 Anonymous
>>32052948 I'm not. That was a different guy, but thanks for the advice; I'll go link it now.

41 min later 32052975 Anonymous
>>32052948 easy way to do this is to buy an alt coin like litecoin and then bitcoin again.

47 min later 32053084 Anonymous
>>32052948 Any option similar to coinbase for people outside the US?

52 min later 32053195 Anonymous
>>32053084 if you live in thailand like me yes.

53 min later 32053226 Anonymous
So, how slow will a transaction be if I enter 0 transaction fee? Days, weeks, hours, months, what?

54 min later 32053233 Anonymous (1352284823746.jpg 280x278 73kB)
>>32052663 >>32052691 Socialists will ban anything.

56 min later 32053271 Anonymous
>>32052862 >Could you list some? You fucking retaard IT IS A FUCKING FELONY CRIME TO BUY BITCOINS WITHOUT ANTI MONEY LAUNDERING LAWS IN PLACE A FELONY.

57 min later 32053288 Anonymous
>>32052647 everyone who connects the block chain has their internet access cut off instantly and gets a meet & greet with the police before it comes back on.

57 min later 32053296 Anonymous
>tfw 2037.38848 bitcoins saving until later doubt I could sell it right now anyway

57 min later 32053303 Ulrik Munther
The price has increased 117% in just the past month. It makes me laugh when I see those ads on TV that tell me to buy gold or silver.

59 min later 32053325 Anonymous
>>32053271 It's a crime to speak negatively of the government in North Korea. What's your point? Legality and morality are not the same and are often at odds.

59 min later 32053327 Anonymous
>>32053271 [citation needed]

1 hours later 32053359 Anonymous
>>32053226 right now id take a guess and say on average 30 mins to an hour. just pay the .0005 btc lol

1 hours later 32053371 Anonymous
>>32053271 you are a troll, it is not even illegal in the usa... and it is sure as fuck not illegal in thailand

1 hours later 32053383 isac (url.jpg 600x450 172kB)
>>32052146

1 hours later 32053390 Anonymous
>>32053288 tor + encryption is perfect for btc...

1 hours later 32053402 Anonymous
>>32053359 Electrum is recommending an 0.15 btc fee, which is more than what I'm fucking sending.

1 hours later 32053525 Anonymous
>>32053402 oh well, some clients do not like small amounts, just pay a fee of .0005

1 hours later 32053609 Anonymous
>>32052146 >the future of digital money? You can't use bitcoin to buy anything decent, so no.

1 hours later 32053735 Anonymous
>>32053609 >sell bitcoin >make lots of USD

2 hours later 32054844 Anonymous
>>32053609 lol, new to the internet?

3 hours later 32055975 Anonymous
BTC now worth $46.40 and climbing.

3 hours later 32056100 Anonymous
i don't see the appeal for buttcoins if you want to acquire buttcoins you need to use a credit/debit card, which are logged by mtgox .. then those buttoins mtgox gives you can easily e tracked on silkroad

3 hours later 32056206 Anonymous
>>32056100 and mt gox works with the dea, they have siad this in public... dont use gox, gox is not the only way to get buttcoins...

3 hours later 32056269 Anonymous
>>32056100 You don't have to us mtgox. There are all sorts of ways to launder the coins easily once you have them. There are reasons to want anonymity other than illegal things. They're a decent way to make some cash if you buy when it's going down and sell on days like today.

4 hours later 32056539 Anonymous
>>32056100 Coins are mixed by Silk Road automatically. There's no way to know that an address belongs to the Silk Road wallet.

8 hours later 32059192 Anonymous
requesting the buttcoin photos with all the coins in the butts, thanks

8 hours later 32059257 Anonymous
how do bitcoins work? and whats mining? like actual underground mining? or just some hax to get bitcoins from somewhere?

8 hours later 32059439 Anonymous
Can someone please explain why people mine with GPUs and not decent CPUs or just enterprise servers?

8 hours later 32059510 Anonymous
>>32052223 that's like $39. Consider yourself rich.

8 hours later 32059541 Anonymous (1267552136847.jpg 285x400 27kB)
Do you even pay for electricy?

8 hours later 32059628 Anonymous
>>32059439 cpus are too slow, gpus are much faster and effecent, but people now mine with asics, gpus are on the way out...

8 hours later 32059636 Anonymous
>>32059541 yeah, its why i only mine with asics now...

9 hours later 32060154 Anonymous
>>32053271 http://www.ltc-charts.com/period-ch arts.php?period=ytd&resolution=day& pair=ltc-btc&market=btc-e

10 hours later 32061130 Anonymous
once they are all mined it will crash

10 hours later 32061147 BTC/TA990FXE
>>32059541 yes and its still profitable with 6 5850s on dedicated bitcoin rigs at $0.09kw/h

10 hours later 32061207 Anonymous
You guys are retarded, BTC is never going to crash.

10 hours later 32061216 Anonymous
Wait, so I'll get in trouble if I buy BC from MtGox?

10 hours later 32061244 Anonymous
>Buttcoins >not a bubble thats gonna burst and go back down to $1

10 hours later 32061261 Anonymous (BobPage.png 515x510 303kB)
>>32061216 >MtGox >mfw I read that as mtcox

10 hours later 32061262 Anonymous
>>32061244 Wrong. When was the last time we had a bubble like this? Never. This is going to keep going up.

10 hours later 32061275 Anonymous
>>32061244 and then i'll snap them all up and wait for the next bubble.

10 hours later 32061280 Anonymous
>Is it still a scam or the future of digital money? Bitcoin was never a scam. It is a stupid libertarian pipe-dream like liberty dollars though. Inevitably, it will be shut down by the world's governments for enabling crime and tax evasion. Now, mining was a good way to turn a quick profit back in '09-'11, but now mining on anything less than an ASIC is basically about to become pointless. You can still buy low when the price drops, but there is no guarantee that you will be able to sell high. It is probably still worth the risk after the next value crash, since it will take the world's governments at least three more years to design a system of enforcement against it. >>32061130 If you understand the system, it would actually work if it had the backing of a powerful nation (The US or UK for example). The problem is that it doesn't and the competitors are not simply going to sit by and permit it.

10 hours later 32061301 Anonymous
>>32061280 >the next value crash Except that won't happen.

10 hours later 32061304 Anonymous
>>32061262 >This is going to keep going up. Are you really this stupid?

10 hours later 32061310 Anonymous
>>32061304 Look at the charts, dumbass.

10 hours later 32061311 Anonymous
>>32061304 Do you really have to ask?

10 hours later 32061321 Anonymous
>>32061310 >charts Do you have puppets to go with them?

10 hours later 32061333 Anonymous
>tfw I had 160 bitcoins a few months ago, should have kept then a while longer.

10 hours later 32061336 Anonymous
>>32061311 >>32061304 You're both wrong and you know it.

10 hours later 32061340 Anonymous
All this talk from Kim.com and Falkvinge is one thing and one thing only: The pump before the dump. Get out now.

10 hours later 32061343 Anonymous
>>32061310 LOOK AT THE CHARTS! TULIP BULBS ARE NEVER GOING TO GO DOWN!

10 hours later 32061387 Anonymous
>>32061343 They won't no one can afford to dump right now. Get over it

10 hours later 32061398 Anonymous
>>32061387 >this delusion I feel sorry for you. Actually, no I don't. But I will enjoy your tears.

10 hours later 32061455 Anonymous
>>32061387 Centuries of economic theory and real-world examples of bubbles would like to have a word with you. But please, continue to live in your fantasy land.

11 hours later 32061517 Anonymous
>>32061455 You'r retarded. You're upset because you know this is the case

11 hours later 32061600 Anonymous
>>32061301 It will. Hell, this high might well be the result of something that will cause it. If you have invested a lot in cheap Bitcoins, this is a good time to cash out.

11 hours later 32061613 Anonymous
Why has LTC doubled? Is it somewhat related to BTC? If anything, I guess they'd be inversely proportional? I don't get it

11 hours later 32061758 Anonymous
>>32061613 Burst.

11 hours later 32061767 Anonymous
>>32052278 >DISCLOSURE The author has a significant investment in bitcoin. Specifically, he went all-in two years ago after having run these very numbers. Step 1: Write an article about a currency you've heavily invested in, saying that it is currently extremely undervalued Step 2: Spread it virally, artificially increasing the value of the currency Step 3: Cash the fuck out an watch the fireworks. Nice one Rick.

11 hours later 32061770 Anonymous
What's a good way to buy Buttcoins anonymously?

11 hours later 32061813 Anonymous
>>32052560 But how much do you have

11 hours later 32061830 Anonymous
I'm going to buy 30 rasberry pis and start mining just so I can make the buttcoin market crash.

11 hours later 32061852 Anonymous
>>32061830 Except that won't work.

11 hours later 32061867 Anonymous
Can't wait until you're all arrested for distribution of illegal currency.

11 hours later 32062024 Anonymous
>>32061758 What?

11 hours later 32062097 Anonymous
>48

11 hours later 32062121 Anonymous
It's a scam. How can you not see it? Who is controlling the money?

11 hours later 32062397 Anonymous
>>32062121 >Who is controlling the money? The people with coins?

11 hours later 32062446 Anonymous
>>32062397 How does one acquire coins?

11 hours later 32062468 Anonymous
>>32061280 >The problem is that it doesn't That's also a large part of the point of the thing in the first place. Of course, I do agree that there will be lots of problems, and it will be very difficult for it to succeed, if even possible.

12 hours later 32062514 Anonymous
>>32062446 Through trade or the use of hardware to process transactions within the system.

12 hours later 32062533 Ulrik Munther
Bitcoin was on The Good Wife in an episode called "Bitcoin for Dummies". I'm surprised at how accurately they explained it. http://www.youtube.com/watch?v=-faz u1rgr9k

12 hours later 32062677 Anonymous
>>32062514 So you can sell stuff for Bitcoins, and you can buy Bitcoins with "real" money? >use of hardware to process transactions within the system How does this work? How is this getting you money? Are you just creating it out of thin air?

12 hours later 32062701 Anonymous
>>32062677 bitcoin.org/bitcoin.pdf

12 hours later 32062739 Anonymous
>>32062677 I would like it if you answered the questions instead of just posting a link. How does bitcoins differ from "real" money?

12 hours later 32062762 Anonymous
>>32062677 >How does this work? How is this getting you money? Are you just creating it out of thin air? Bitcoin processes transactions through the use of blocks. Blocks are solved by finding the solution to the block with hardware and software. When a block is solved, the party that solved it receives 50 BTC. It would be a lot faster if you just checked the FAQ. https://en.bitcoin.it/wiki/FAQ

12 hours later 32062778 Anonymous
>>32062739 Why don't you do research instead of asking questions that have been answered a billion times. Fucking idiots flooding /g/ looking to make a quick buck.

12 hours later 32062817 Anonymous
>>32062762 So it's like a game? This is bullshit. Please, for the love of God, snap out of this trance. Bitcoin is a scam.

12 hours later 32062825 Anonymous
>>32062778 I'm actually trying to wake you up, sheeple.

12 hours later 32062826 Anonymous
>>32062778 >questions that have been answered a billion times. its a normal thing to ask these question, this is what happens when you have something that was created by uneducated neckbeards for uneducated neckbeards

12 hours later 32062950 Anonymous
>Bitcoin is a libertarian’s dream come true: a steadily expanding money supply without the state getting in the way of the sweet mechanics of the market. That’s why Bitcoin’s most ardent supporters are folks like gold-standard advocates and hard-core Wikileaks partisans. As interest in the currency grows, tech-savvy investors have jumped into the mix, speculating with bitcoins and profiting as demand increases; >So far, you can’t buy anything with bitcoins that you couldn’t purchase more easily with cash or a credit card. Bitcoin isn’t truly anonymous unless you’re already taking some relatively advanced anonymity steps. Even then, Internet forensics could likely track you down. >More problematically, the economics don’t quite work. Currencies are most valuable when lots of people trust and use them frequently. But PayPal has refused to convert bitcoins to cash, and major exchanges like MtGox have fallen to hackers. A currency that you can’t convert into anything else isn’t worth, well, anything. >Ben Laurie, a respected web security expert and cryptographer, makes a compelling case that Bitcoin won’t work because it accrues such a huge advantage to people who can bring the most computing power to bear on clearing transactions. “I mean, it’s nice for the early adopters, so long as new suckers keep coming along,” he concludes. “But in the long run it’s just a pointless waste of stuff we can never get back.” >If any single person or group controlled a majority of computing power in the network, they could rewrite the transactions to take your money. Bitcoin relies on the growth of the network to outpace any single node’s ability to control the bulk of the processing power, but one mining collective, deepbit, currently clears more than a third of all transactions. Already, hackers have used botnets, online networks of computers, to increase their ability to process transactions and mine bitcoins.

12 hours later 32063199 Anonymous
>>32052257 >not researching before posting I sure miss when /v/ was /v/ and /g/ was /g/

12 hours later 32063339 Anonymous
>>32062950 So in conclusion buttcoin is a scam.

12 hours later 32063372 Anonymous
>>32063339 Welcome to 2 years ago

12 hours later 32063382 Anonymous
>>32062817 Like a game? How do you mean? Your hardware creates hashes until one fits. When one fits, all the transactions within that block are complete. I don't mine, btw. It's been pointless for years.

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