Bitcoins are such a good currency

[r00t]

So a day ago we learned that hte silk road 2.0 creators stole millions of dollars worth of bitcoins.

Now today we find out about Mt. Gox, one of the oldest and largest crypto-currency exchanges, refusing to release millions of dollars in funds and thousands of Bitcoins that were deposited by investors

And to top it all off, there is a newly discovered bug/weakness in BitCoin that is allowing fraud.

[Sly]

Gold Silver (Brass and Lead)

[LulzSect]

http://ohhotdamn.com/files/2013/12/kuj9sPP.gif

[Archalen]

I know this WoW player IRL who drones on and on about how great Bitcoin is so keep me updated on why it sucks.

[Kagatob]

O.P. still mad he was late to the bitcoin train.

Nobody cares.

[Hailto]

How was ur v-day big naez?

[cyryllis]

great time to buy, they will be shooting back up to 700+ within a couple of weeks, just like last time.

[Oogei]

What are bitcoins anyway

[jarshale]

I mined .03 bitcoins ~3 years ago, and that's now worth $20. What can I do with it?

[Visual]

are bitcoins like platinum pieces

[runlvlzero]

I think I made a TLDRy post saying bitcoins were no better than the current governmentally backed scams... shits weaksauce.

Glad ur finally seeing this shit for what it is though r00t. Remember at the top of all that corruption you still have corporate plutocrats who own us and fund our governments and military and police.

[Ahldagor]

all currency is bullshit yet necessary

[r00t]

except beans and bullets

[Ahldagor]

except beans and bullets

they no longer using guns and butter? i was raised on guns and butter

[Recycled Children]

I mined .03 bitcoins ~3 years ago, and that's now worth $20. What can I do with it?

Buy $20 worth of stuff.

[Nuggie]

they no longer using guns and butter? i was raised on guns and butter

butter is bad for the heart health

[Ahldagor]

butter is bad for the heart health

which is why you shoot guns, duh

[radditsu]

Nade 174k stealing bitcoins using a telnet session into naez shitty supercomputer. Got all his sweetums fuck pics as well. #hemad

[Recycled Children]

What are bitcoins anyway

Digital currency based on solving huge math problems.

Any currency not run by government and banks is a good currency.

[whitebandit]

personally i mine bitcoins by hand.. using my god-given PC.. my brain.

http://www.quickmeme.com/img/21/21d2f2194e7eb6925dac5a428cc518d4398b850316887505b7 40e8bd0e8ffdd2.jpg

[r00t]

https://www.mtgox.com


hohoho the #1 exchange. it says it all about the stability of this junk

[chief]

just bought another lambo with bitcoins, my wife from russian is coming in the mail soon.

[radditsu]

Dammit h00t was right

[Orruar]

You would think that after making the call to sell BTC at under $100 only to see the price skyrocket to its current level of $600, you would stop making posts about this topic.

[feanan]

No money has ever been lost with fiat currency. Truth!

Just ask the bernie madoff victims.

And yeah, he still sounds bitter that he didn't get in at $10 like he wanted.

[r00t]

bitcoin may as well be a fiat currency. its only value is in itself, it has no secondary intrinsic value say something like a gold standard

[skipdog]

I think anybody with a brain knows that BitCoin is a volatile currency.

Not sure why threads like this need to be made every time there is a big hike/dive on Bitcoin value. It's just going to keep happening.

[Thulack]

My rig is still on track to pay itself off in 4 months then it will pay for all my electric and my cable with profits. i only spent 800 on my rig though.

[myriverse]

All currency is arbitrary. Barter or GTFO.

[Ahldagor]

All currency is arbitrary. Barter or GTFO.

damn straight

[kylok]

All currency is arbitrary. Barter or GTFO.

pras

[Arclyte]

http://i.imgur.com/aTIa1gt.jpg

[Orruar]

Was there a point to that?

[Arclyte]

^mad buttcoin investor

[Frieza_Prexus]

All currency is arbitrary. Barter or GTFO.

I pay my taxes with chickens and bushels of grain.

[Orruar]

^mad buttcoin investor

So your point was that some jew made a bunch of money on bitcoin? Is that really all that interesting to those who don't have swastikas tattooed on their forehead?

[Swish]

https://www.youtube.com/watch?v=U3i2yR0A5m4

C'mon pals, watch the video... listen to the soft music and take in the bitcoin goodness.

[Orruar]

Also, what bitcoin investors would be upset at this point, with bitcoin near record highs? Other than the ones with swastikas tattooed in their foreheads, of course.

[r00t]

Anybody with even a crude understanding of finance could see this coming -- the BTC value on Mt Gox compared to the other exchanges alone smacks of ponzi. Only the public ledger can ultimately tell us where the BTC went. Gox had a problem, they knew about it, they tried to game the market price of BTC for as long as they could and when that became unsustainable they halted withdrawls, then halted trading. They inflated their BTC price to draw in coins, they then lowered it to play the other side of the arbitrage coin again creating an influx of coins and it all evaporated.

They list their Bitcoin assets as "2,000" and the Bitcoin liabilities as "744,408" all of which they count as "theft" that took place over a 5 year period. That means that over a period of 5 years, they lost 99.7% of their Bitcoins and didn't notice it until recently. Only 2,000 coins left in the wallet and no cold storage?

The CEO of Mt Gox is a criminal. They will move to Singapore to avoid criminal prosecution. People should distance themselves from Gox, the CEO and any attempt to rebrand this atrocity. I feel this was an inside job, an epic heist from within the people running Mt Gox. A full criminal investigation is needed.

[Recycled Children]

All currency is arbitrary. Barter or GTFO.

I think it's about time you read anything about economics rather than spit out some insane commie utopian bullshit like bartering. LMAO!

Here's a real video.

https://www.youtube.com/watch?v=wzwWIDIVSTo

Nurgas need to do some research rather than assign yourself to the witch hunt mentality of the internet.

[Orruar]

Anybody with even a crude understanding of finance could see this coming -- the BTC value on Mt Gox compared to the other exchanges alone smacks of ponzi. Only the public ledger can ultimately tell us where the BTC went. Gox had a problem, they knew about it, they tried to game the market price of BTC for as long as they could and when that became unsustainable they halted withdrawls, then halted trading. They inflated their BTC price to draw in coins, they then lowered it to play the other side of the arbitrage coin again creating an influx of coins and it all evaporated.

They list their Bitcoin assets as "2,000" and the Bitcoin liabilities as "744,408" all of which they count as "theft" that took place over a 5 year period. That means that over a period of 5 years, they lost 99.7% of their Bitcoins and didn't notice it until recently. Only 2,000 coins left in the wallet and no cold storage?

The CEO of Mt Gox is a criminal. They will move to Singapore to avoid criminal prosecution. People should distance themselves from Gox, the CEO and any attempt to rebrand this atrocity. I feel this was an inside job, an epic heist from within the people running Mt Gox. A full criminal investigation is needed.

You think you would have stopped forming strong opinions about a subject shortly after you called to sell BTC at under $100 and the price shot up to $800 and is now still settling around $500-$600. But instead of realizing that you were perhaps not fully informed on the subject, you continue coming up with wild theories to justify your preconceived notions. Sounds like a solid strategy to rational thinking to me.

[Recycled Children]

Listening to recycled children talk about politics and bestow trying to chime in = nails on a chalkboard

Oh susvain, you're still around. It's alright dawg, I'm sure it's tough listening to concepts that go right over your head. Keep the dope economy strong with the pawn sales of your mom's jewelry.

[Recycled Children]

You think you would have stopped forming strong opinions about a subject shortly after you called to sell BTC at under $100 and the price shot up to $800 and is now still settling around $500-$600. But instead of realizing that you were perhaps not fully informed on the subject, you continue coming up with wild theories to justify your preconceived notions. Sounds like a solid strategy to rational thinking to me.

This guy gets it.

r00t is good peoples but I just feel you're misinformed as are most of the Bitcoin naysayers.

[r00t]

I just elaborated how MtGox fixed the prices of bitcoin. They were the ones who artificially shot them up to $1000, and now claim to have had 99.7% of their stock stolen. If you can name any other legitimate reason why they shot from $50 to $1000 overnight I'd love to hear it. It's cool if you also profited from the massive fraud that has occurred.

[r00t]

Another eyebrow in the artificial price rise is it came like a day after the only thing you can buy bitcoins with, drugs off silk road, was shut down by the feds.

[Recycled Children]

I just elaborated how MtGox fixed the prices of bitcoin. They were the ones who artificially shot them up to $1000, and now claim to have had 99.7% of their stock stolen. If you can name any other legitimate reason why they shot from $50 to $1000 overnight I'd love to hear it. It's cool if you also profited from the massive fraud that has occurred.

If you watch the video I posted you'll understand the M(agic)t(he)G(athering)o(nline)(e)x(change) scenario.

[Orruar]

I just elaborated how MtGox fixed the prices of bitcoin. They were the ones who artificially shot them up to $1000, and now claim to have had 99.7% of their stock stolen. If you can name any other legitimate reason why they shot from $50 to $1000 overnight I'd love to hear it. It's cool if you also profited from the massive fraud that has occurred.

So before you even Google to find out the real answer, you form some wild theory, post it on internet forums as fact, and then whine like a little bitch when your idiocy is revealed? Since I know how to use Google, I'll give you some help. Here is literally the first link if you Google "why did bitcoin spike".

http://moneymorning.com/2013/11/18/why-bitcoin-prices-are-rising-so-quickly-and-will-keep-going/

TL;DR version: Chinese demand suddenly spiked when the Google of China said it would start accepting bitcoin as payment for its services and the Chinese government actively encouraged its citizens to invest in bitcoin. This seems like a much more likely reason than "ponzi scheme, market manipulation!"

Also, you don't seem to understand why the price was so much lower on Mt. Gox vs the other exchanges, and you seem to think that points to some kind of manipulation. The reason it was so much cheaper on Mt. Gox was that they froze the ability to withdraw bitcoins, leading many to speculate that they were all stolen and thus would never be able to be withdrawn (speculation that turned out to be true). Thus people who still had bitcoins there were willing to sell for much less than the actual price (as determined via the other exchanges). They could still withdraw cash, and so they were willing to take a haircut on the price for the assurance of actually getting something out of it.

[Orruar]

Another eyebrow in the artificial price rise is it came like a day after the only thing you can buy bitcoins with, drugs off silk road, was shut down by the feds.

The fact you think this is true only shows the depths of your ignorance. The fact you continue to hold such strong beliefs on the subject is baffling. Serious question: Are you a Christian or member of another major religion?

[r00t]

the supply and demand for china never dictated a 2000% increase. it was artificial, hence why we saw a 30% dip almost instantly. http://www.zerohedge.com/news/2013-11-18/bitcoin-trades-over-1000-btc-china-exchange-crashes-promptly-thereafter

Playing the Chinese to trump the price up was part of the Mt Gox fraud. By holding a monopoly of their investors coins (which they totally just stole btw, the largest most trusted exchange stole everything lol).

[r00t]

"There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble" -CEO of Mt Gox in Japanese court today

http://media.tumblr.com/tumblr_lz5ia86DVz1qdeocv.gif

[r00t]

http://www.ascertainthetruth.com/att/images/stories/911jetfuel2.jpg

[BigHurb]

partial story from slashdot again

"The beleaguered MtGox bitcoin exchange has officially filed for bankruptcy protection in Tokyo. According to the Wall Street Journal, Bitcoin held an impromptu press conference that addressed recent rumors. They state that they have over $60m in liabilities against just $30m in assets, and confirm the loss of over $500m worth of Bitcoins, split between customers' balances (750,000 BTC) and company assets (100,000 BTC). Owner Mark Karpeles said, 'There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble.'"

[Recycled Children]

partial story from slashdot again

"The beleaguered MtGox bitcoin exchange has officially filed for bankruptcy protection in Tokyo. According to the Wall Street Journal, Bitcoin held an impromptu press conference that addressed recent rumors. They state that they have over $60m in liabilities against just $30m in assets, and confirm the loss of over $500m worth of Bitcoins, split between customers' balances (750,000 BTC) and company assets (100,000 BTC). Owner Mark Karpeles said, 'There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble.'"

So how does this pertain to bitcoin being a bad currency? This only shows that Mt.Gox was a bad service.

[r00t]

Things can change rapidly when it comes to financial investments. That's why people look for more sound and stable investments, something Bitcoin does not attract whatsoever, makes Bear Stearns look reasonable. But more to the point, yea at the time I said dump, following the news it was actually the smart move to do as it did dip until computer programs (another thing you don't want when dealing with investments is a bunch of microtrading) overcorrected and stabilized the price. Then later the China thing, following the news maybe you coulda jumped in and profited alongside Mt. Gox, but now you sound bitter you didn't. It's okay though, I don't follow the insider trading Bitcoin news either.

As it stands now, nothing..... nothing at all....... is preventing any other exchange from pulling the same crap as Mt. Gox is.

tl;dr bitcoins are more fraught with fraud than derivatives

[Thulack]

the supply and demand for china never dictated a 2000% increase. it was artificial, hence why we saw a 30% dip almost instantly. http://www.zerohedge.com/news/2013-11-18/bitcoin-trades-over-1000-btc-china-exchange-crashes-promptly-thereafter

Playing the Chinese to trump the price up was part of the Mt Gox fraud. By holding a monopoly of their investors coins (which they totally just stole btw, the largest most trusted exchange stole everything lol).

Lol you forgot to put the rest of the title of that post in your thread:

"Bitcoin Trades Over $1000 On BTC China Exchange And Crashes 30% ... Then Rebounds"

[Orruar]

the supply and demand for china never dictated a 2000% increase. it was artificial, hence why we saw a 30% dip almost instantly. http://www.zerohedge.com/news/2013-11-18/bitcoin-trades-over-1000-btc-china-exchange-crashes-promptly-thereafter

Playing the Chinese to trump the price up was part of the Mt Gox fraud. By holding a monopoly of their investors coins (which they totally just stole btw, the largest most trusted exchange stole everything lol).

Why do you lie about the size of the increase? Show me any data that supports your claim that bitcoin increased 2000% in a short period of time. It makes one much more suspicious of all other claims you make.

[r00t]

crashed to 600 and rebounded to 8 big woop, nothing I said was untrue

[r00t]

Why do you lie about the size of the increase? Show me any data that supports your claim that bitcoin increased 2000% in a short period of time. It makes one much more suspicious of all other claims you make.

https://www.google.com/search?q=50+x+2000%25

[Orruar]

So how does this pertain to bitcoin being a bad currency? This only shows that Mt.Gox was a bad service.

Exactly. Why people held their bitcoin in an exchange is beyond me. One major point of the currency is that you don't need to hold it somewhere external. Encrypt your wallet, make a backup, and keep that shit yourself.

[r00t]

Exchanges have caps on the amount you can withdraw at once. Still, these exchanges are basically completely unregulated stock markets that have operated on an honour system for this long. More will follow in Mt. Gox's footsteps now that the taboo has been broken.

[Orruar]

https://www.google.com/search?q=50+x+2000%25

When was the last time BTC was $50?

[Orruar]

Things can change rapidly when it comes to financial investments. That's why people look for more sound and stable investments, something Bitcoin does not attract whatsoever, makes Bear Stearns look reasonable. But more to the point, yea at the time I said dump, following the news it was actually the smart move to do as it did dip until computer programs (another thing you don't want when dealing with investments is a bunch of microtrading) overcorrected and stabilized the price. Then later the China thing, following the news maybe you coulda jumped in and profited alongside Mt. Gox, but now you sound bitter you didn't. It's okay though, I don't follow the insider trading Bitcoin news either.

As it stands now, nothing..... nothing at all....... is preventing any other exchange from pulling the same crap as Mt. Gox is.

tl;dr bitcoins are more fraught with fraud than derivatives

The fact you think bitcoin is an investment is hilarious. Is the US Dollar an investment too, in your eyes? You have some very basic flaws in your understanding of economics. I'd suggest you let your girlfriend handle the checkbook, even though she's shown a penchant for overspending on little pieces of plastic.

[r00t]

I definitely don't consider it a currency, seeing as I can't buy anything with it rofl

[Thulack]

And you do realize you can use bitcoins and such without having anything to do with Mtgox right? If your are buying bitcoins atm i think is a mistake but if you have had them or are mining them aslong as its profitable there is nothing to worry about. Do you even mine bitcoins Root or any other forum of cryptocurrency? Personally i mine Dogecoin then sell it for bitcoin on Cryptsy and then transfer to VirWox and cash out. Cash out once a month to pay my bills and i'm golden.

[r00t]

I wonder how many people Amazon would need to employ if they wanted to sell items for Bitcoins. They'd have to constantly adjust the price of all 420 million items every 20 minutes lol.

[Orruar]

I wonder how many people Amazon would need to employ if they wanted to sell items for Bitcoins. They'd have to constantly adjust the price of all 420 million items every 20 minutes lol.

Yes, because clearly they would do that adjustment by hand, and not completely automate the process. Your business acumen is unsurpassed.

[r00t]

Actually Amazon could probably just multiply by a ratio. I was thinking of other types of online shops with more static pages. But okay for reals the day I can buy beer with bitcoin at the neighborhood liquor store is the day Ill stop saying it isnt real.

[r00t]

which will never be allowed to happen see: ron paul coins

[formallydickman]

The fact you think bitcoin is an investment is hilarious. Is the US Dollar an investment too, in your eyes? You have some very basic flaws in your understanding of economics. I'd suggest you let your girlfriend handle the checkbook, even though she's shown a penchant for overspending on little pieces of plastic.

Do you not know that currency investment IS a thing?

[Orruar]

Do you not know that currency investment IS a thing?

I suppose I should have said it's hilarious he thinks it is used ONLY as an investment.

[Orruar]

Actually Amazon could probably just multiply by a ratio. I was thinking of other types of online shops with more static pages. But okay for reals the day I can buy beer with bitcoin at the neighborhood liquor store is the day Ill stop saying it isnt real.

Seriously dude, learn to Google.

http://venturebeat.com/2013/11/05/now-you-can-buy-beer-with-bitcoin-in-beijing/

[r00t]

cool for beijing. that doesnt help me in America where the constitution says gold and silver and the central bank says reserve notes are the only legal tender

[Pokeman]

I definitely don't consider it a currency, seeing as I can't buy anything with it rofl

can get drugs and child pornography

[r00t]

http://en.wikipedia.org/wiki/Liberty_Dollar#Legal_issues

[Aviann]

I laugh at people who still use Bitcoins after all the crap that has been flying around with them. Just use dollars and stuff like normal people.

[Pokeman]

I laugh at people who still use Bitcoins after all the crap that has been flying around with them. Just use dollars and stuff like normal people.

anyone actually use bitcoin as a currency? literally assumed ppl hoarded them as a get rich quick scheme or to buy drugs :confused:

[Thulack]

I definitely don't consider it a currency, seeing as I can't buy anything with it rofl

Nope can't buy anything with it...

http://www.tigerdirect.com/bitcoin/

[Aviann]

anyone actually use bitcoin as a currency? literally assumed ppl hoarded them as a get rich quick scheme or to buy drugs :confused:

I think that is what this thread is about, but all I see in it, no offense to anyone, is useless banter about how to make 15 cents a month extra that won't put you in a situation where you will have to hide the income from your generous state's welfare agency. Tbh, though, at least these guys are living the dream.

[Orruar]

I definitely don't consider it a currency, seeing as I can't buy anything with it rofl

http://www.overstock.com/bitcoin

[Thulack]

I think that is what this thread is about, but all I see in it, no offense to anyone, is useless banter about how to make 15 cents a month extra that won't put you in a situation where you will have to hide the income from your generous state's welfare agency. Tbh, though, at least these guys are living the dream.

I make roughly 250ish dollars a month running my Mining Rig. It pays for my Total electric bill and my cable bill for a 800 dollar investment. making 15 cents a month would be pointless :D

[BigHurb]

u use technology for evil.. please try more sustainable and eco friendly ways to live.

[Frieza_Prexus]

u use technology for evil.. please try more sustainable and eco friendly ways to live.

http://i.imgur.com/Uswyqb1.png

[Orruar]

When was the last time BTC was $50?

Still waiting for the answer on this one. Or is your silence a defacto admission that you were pulling numbers out of air to support your argument?

[Aviann]

I make roughly 250ish dollars a month running my Mining Rig. It pays for my Total electric bill and my cable bill for a 800 dollar investment. making 15 cents a month would be pointless :D

Lol keep the momentum my bro! I'm cheering you on from the sidelines haha

[r00t]

We have elected to put our money and faith in a mathematical framework that is free of politics and human error.

-Tyler Winklevoss,
Facebook Forerunner




hooted wildly

[r00t]

Im mining dogecoins atm

http://i.imgur.com/LQqhx3d.png

[r00t]

what pool yall doin for doge??

[Thulack]

what pool yall doin for doge??

Using multipool.us

avg. 1.19 Mh/s running 2x Sapphire 7950's. after the last diff bump i'm getting about 4300 Doge a day.

[BigHurb]

"Joining MtGox, Flexcoin today announced they have had their vault wiped out, to the tune of some 896 BTC (about $615,000) by hackers. 'On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC, dividing them into these two addresses: 1NDkevapt4SWYFEmquCDBSf7DLMTNVggdu [and] 1QFcC5JitGwpFKqRDd9QNH3eGN56dCNgy6. As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately.'"

[r00t]

"Joining MtGox, Flexcoin today announced they have had their vault wiped out, to the tune of some 896 BTC (about $615,000) by hackers. 'On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC, dividing them into these two addresses: 1NDkevapt4SWYFEmquCDBSf7DLMTNVggdu [and] 1QFcC5JitGwpFKqRDd9QNH3eGN56dCNgy6. As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately.'"

cryptographically secure currency not so cryptographically secure

[BigHurb]

hairy mcdirt tits is cheating on you

[radditsu]

Guys. If it worthwhile to hack or steal. Then things are going to be hacked and stolen.


Duh

[Ahldagor]

cryptographically secure currency not so cryptographically secure

Guys. If it worthwhile to hack or steal. Then things are going to be hacked and stolen.


Duh

bitcoin was a flawed concept from the beginning

[BigHurb]

humans are a flawed concept heheheh also root fucks a hobbit

bitch how are you not fucking the hobbit again you need to tell me

[BigHurb]

http://i.imgur.com/yIXchha.gif

[Ahldagor]

humans are a flawed concept heheheh also root fucks a hobbit

bitch how are you not fucking the hobbit again you need to tell me

mein neger

[Orruar]

Using multipool.us

avg. 1.19 Mh/s running 2x Sapphire 7950's. after the last diff bump i'm getting about 4300 Doge a day.

You should be getting 650-700k per 7950, so 1.3-1.4M. Might look into optimizing things a bit.

[Orruar]

bitcoin was a flawed concept from the beginning

Uhh, the bitcoin framework wasn't attacked here. A single site that was holding bitcoins was hacked. That would be like saying that using gold as money is a flawed concept because someone held up a train and stole some gold bars. Or that using dollars as money is a flawed concept because someone broke into an ATM machine.

[Unidus]

Physical currency is never going away. Bitcoins will never be more than 2% novelty currency like credit card reward points.

[Unidus]

It's also causing graphics cards to increase in price because of "mining friendly" bullshit that 2% of video card users do.

[BigHurb]

dirty mc tit dirties

[Executiveutven]

all of your problems stem from the fact you guys put the pussy on a pedestal, you cannot do that n get the poon you must whip the poon then eat the poon.

[JackFlash]

It's also causing graphics cards to increase in price because of "mining friendly" bullshit that 2% of video card users do.

I doubt anyone is mining bitcoins effectively with GPU's anymore.....

[BigHurb]

mcdirtles

[Unidus]

I doubt anyone is mining bitcoins effectively with GPU's anymore.....

They are with Litecoins. Same bullshit as bitcoins causing supply shortages and price increases.

http://www.anandtech.com/show/7758/radeon-r9-290x-retail-prices-hit-900

[JackFlash]

No shit...I guess they don't have ASIC set up for scriptcoins yet? Seems like it will just go the way of bitcoin mining eventually.

[Thulack]

You should be getting 650-700k per 7950, so 1.3-1.4M. Might look into optimizing things a bit.

Not on the sapphire cards i have.

[Ahldagor]

Uhh, the bitcoin framework wasn't attacked here. A single site that was holding bitcoins was hacked. That would be like saying that using gold as money is a flawed concept because someone held up a train and stole some gold bars. Or that using dollars as money is a flawed concept because someone broke into an ATM machine.

exactly. novelty bullshit in limited supply is going to be a huge target for crime. fiat currencies are the best ones because they're infinite and honest about the factor of trust being the value.

[Bamz4l]

The Face Behind Bitcoin (http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html)

[Bamz4l]

^ looks like alotta backlash occurring over that DOX because of all the RL info that reporter spilled.

[Millburn]

The Face Behind Bitcoin (http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html)

Which one of these 25 scripts do I have to enable to read the god damn news?

[r00t]

Uhh, the bitcoin framework wasn't attacked here. A single site that was holding bitcoins was hacked. That would be like saying that using gold as money is a flawed concept because someone held up a train and stole some gold bars. Or that using dollars as money is a flawed concept because someone broke into an ATM machine.

ATM analogy doesnt do it justice, its more like someone took over bank of 'merica and wiped out 50% of the country's savings