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BITCOIN Thread $$$$
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

i tried to google that ownage story about the guy with a flash drive with $50k worth of bitcoins on it who got scared of some black kids in a parking garage who he thought were going to jump him and steal his bitcoins so he shoved the flash drive up his ass and later he tried to shit it out and couldn't find it but i cant find the story on google.
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quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Tue Nov 12, 2013 1:09 pm 
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Fast Luck



Joined: 11 Oct 2001
Posts: 22805
Location: Penis

i remember that story, pretty classic one. sry i dont have it but i do have this:
http://www.dailydot.com/business/bitcoin-child-porn-transaction-code/
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quote:
Originally posted by Fast Luck
hassan-i-asher: majorin in takin pictures
dreamin bout wayne from catalina wine mixers
listen little friend stay outta the deep end
cuz you're less street than vampire weekend

Post Tue Nov 12, 2013 1:19 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

quote:
Originally posted by Fast Luck
i remember that story, pretty classic one. sry i dont have it but i do have this:
http://www.dailydot.com/business/bitcoin-child-porn-transaction-code/


i doubt this would bother smurf king very much
_________________
quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Tue Nov 12, 2013 1:25 pm 
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foonat



Joined: 09 Mar 2003
Posts: 7716

where's andrzej to educate us on the bitcoin market
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quote:
Originally posted by smurf_king

i rather be a pedophile than a homo

Post Tue Nov 12, 2013 2:34 pm 
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-667-



Joined: 21 Nov 2001
Posts: 5886

there seems to be a strong correlation between people who think money is made by the us govt by printing them (or going into moneyland and picking some money out of money trees), and shitcoin enthusiasts who think they're sticking it to the man with their virtual shitcoins

there's also a correlation between these two and BEING A FUCKING AUTIST
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Post Tue Nov 12, 2013 3:24 pm 
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smurf_king



Joined: 07 Mar 2009
Posts: 4366

quote:
Originally posted by Fast Luck
i remember that story, pretty classic one. sry i dont have it but i do have this:
http://www.dailydot.com/business/bitcoin-child-porn-transaction-code/



yeah the underground black market on bitcoin is one issue...


thing is, dont know if you all know/knew about it

but there was this online currency kind of a 'paypal' system called libertyreserve.com

it was used by many child porn, and other stuff like mouney laundering and even drug-selling and other underground type of deals and shit..

libertyreserve.com was active and in service for 11 years.
it was taken down by the fbi earlier this year and they seized -i dont remember the exact amount- but it was a big number.. like dozens of millions of dollars.

i dont have the article but allegedly 80% of the libertyreserve users were shady and/or dealt with illegal stuff... while the few 20% still lost their e-money not sure if they got it back or what

anyway

libertyreserve wasnt IMF approved like bitcoin


i read somewhere bitcoin, being it an approved currency.. and
anonymous as hell, you dont need any ID or w/e to function.
its based on P2P hashes... (kind of like torrents)... attracts all sorts of shady transactions...

so, in other words, bitcoin stepped in for libertyreserve

but... noone has been able to take down p2p PIRATEBAY.ORG, and goverments have tried hell yeah.... so i suppose some sort of similar scenario on BITCOIN Razz
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Post Tue Nov 12, 2013 3:28 pm 
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-667-



Joined: 21 Nov 2001
Posts: 5886

yes yes an anonymous currency (yeah right?), can't see any objections from anyone regarding that one

save us ron paul you're our only hope
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Post Tue Nov 12, 2013 3:41 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

quote:
Originally posted by -667-
there seems to be a strong correlation between people who think money is made by the us govt by printing them (or going into moneyland and picking some money out of money trees), and shitcoin enthusiasts who think they're sticking it to the man with their virtual shitcoins

there's also a correlation between these two and BEING A FUCKING AUTIST


its pretty funny how people are like FIAT CURRENCY IS STUPID YOU CAN JUST PRINT MORE OF IT IF YOU WANT IT BUHHHH? THATS RETARDED LOL and their solution is a currency whose value is not backed by the most powerful military in the world but by a bunch of NEET autists with motherboards mounted to their basement ceilings
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quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Tue Nov 12, 2013 3:46 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

quote:
Originally posted by smurf_king
libertyreserve wasnt IMF approved like bitcoin


lmfao
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quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Tue Nov 12, 2013 3:47 pm 
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GenOciDe-



Joined: 18 Feb 2003
Posts: 5719
Location: Ottawa

I highly suggest Smurf_King invests all of his life savings into Bitcoins asap. This is a hot stock and for sure will never crash. It is not a market bubble at all. All hail smurf_king investement advice
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Post Wed Nov 13, 2013 7:45 pm 
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smurf_king



Joined: 07 Mar 2009
Posts: 4366
Re: BITCOIN Thread $$$$

quote:
Originally posted by smurf_king
quote:
Originally posted by smurf_king

If you want to purchase this currency as of today 11-11-13:
1 bitcoin = $311 USD

2 weeks ago, 1 bitcoin was $224 USD.
3 weeks ago, 1 bitcoin was $170 USD
5 weeks ago, 1 bitcoin was $112 USD
8 weeks ago, 1 bitcoin was $90 USD



update:

1 bitcoin is now $339.11 USD Exclamation Shocked as of today 12-11-13


fuck man

$394 as of today 13-11-13 Confused
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Post Thu Nov 14, 2013 12:41 am 
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smurf_king



Joined: 07 Mar 2009
Posts: 4366

9 hours later

$419 usd
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Post Thu Nov 14, 2013 9:48 am 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

lol
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quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Thu Nov 14, 2013 9:50 am 
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foonat



Joined: 09 Mar 2003
Posts: 7716

buy em up fast
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quote:
Originally posted by smurf_king

i rather be a pedophile than a homo

Post Thu Nov 14, 2013 10:04 am 
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SarX



Joined: 28 Mar 2006
Posts: 2159
Location: Alabama

Smurf King - you should invest your money in less risky or volatile areas like the stock market.
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I don't think anyone has unlimited time, and that seems like a particularly strange conclusion to draw from about 20 minutes worth of posting on a message board. Hassan-i-Suckah

Post Thu Nov 14, 2013 10:20 am 
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Fast Luck



Joined: 11 Oct 2001
Posts: 22805
Location: Penis

invest in purestrain gold. i wonder if bitcoins are driving down gold prices, because libertarians who would horde gold are enticed by their technofetishist nature to buy bitcoins instead
_________________
i zero bagged your mother

quote:
Originally posted by Fast Luck
hassan-i-asher: majorin in takin pictures
dreamin bout wayne from catalina wine mixers
listen little friend stay outta the deep end
cuz you're less street than vampire weekend

Post Thu Nov 14, 2013 10:24 am 
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SarX



Joined: 28 Mar 2006
Posts: 2159
Location: Alabama

shrug. You dont have to buy them. Some people prefer mining them instead but I've never been interested. I think you're just generalizing.
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I don't think anyone has unlimited time, and that seems like a particularly strange conclusion to draw from about 20 minutes worth of posting on a message board. Hassan-i-Suckah

Post Thu Nov 14, 2013 10:28 am 
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foonat



Joined: 09 Mar 2003
Posts: 7716

quote:
Originally posted by SarX
Smurf King - you should invest your money in less risky or volatile areas like the stock market.
not sure if srs
_________________
quote:
Originally posted by smurf_king

i rather be a pedophile than a homo

Post Thu Nov 14, 2013 10:56 am 
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smurf_king



Joined: 07 Mar 2009
Posts: 4366

gold is never going to be losing ground towards ANY currency.

mark my words. never.
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Post Thu Nov 14, 2013 12:58 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

quote:
Originally posted by smurf_king
gold is never going to be losing ground towards ANY currency.

mark my words. never.


rofl
_________________
quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Thu Nov 14, 2013 1:04 pm 
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SarX



Joined: 28 Mar 2006
Posts: 2159
Location: Alabama

Foonat - it was sarcasm. Obviously all investmest are risky to a degree. However I did find some interesting information.


A bubble is "trade in high volumes at prices that are considerably at variance with intrinsic values". So it's meaningless to argue about whether Bitcoin is a bubble without first estimating its intrinsic value.

If you are certain that Bitcoin will never gain significant traction in any of its target markets, then its intrinsic value is very low, and it's a bubble at almost any price. However, if you believe that it has a good chance of becoming a major player in any major financial arena, then it is almost certainly undervalued at its current price.

For example, consider Bitcoin as an alternative to credit cards for low profit margin industries. Grocery stores typically have a 2% profit margin and pay 3% in credit card fees. If they can convince their customers to pay with bitcoins, perhaps by offering a 1% discount, they could double their profit margins. Of course, we need better hardware wallets and point-of-sale terminals, both of which are in the works. And the current volatility complicates things. But the possibility of doubling profit margins provides a strong incentive to find solutions.

Consider countries like Argentina, with 25% inflation and frequent currency collapses. Some people there are already using Bitcoin for their savings, and as long as their government continues to abuse their currency, that number will certainly grow.

Consider all the countries that would like to unseat the U.S. dollar as the world's reserve currency. Consider various blocs of smaller countries that are having trouble competing internationally, each with its own weak currency. Imagine all the Arab nations, or a group of African nations, deciding to adopt Bitcoin as their common currency, much as the European nations adopted the Euro. As the U.S. dollar crisis deepens, this becomes an increasingly viable possibility.

Consider those wanting to send a portion of their paycheck back home to poor relatives, but not wanting to pay the high fees of today's systems.

Bitcoin is better than the existing money in many ways, and I believe its eventual adoption is inevitable. For that to happen, the price must go up. Many people have done their homework, reached the same conclusion, and that's why the price keeps rising.

http://techcrunch.com/2013/11/06/the-bitcoin-bubble/
_________________
I don't think anyone has unlimited time, and that seems like a particularly strange conclusion to draw from about 20 minutes worth of posting on a message board. Hassan-i-Suckah

Post Thu Nov 14, 2013 1:27 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

quote:
Originally posted by SarX
Foonat - it was sarcasm. Obviously all investmest are risky to a degree. However I did find some interesting information.


A bubble is "trade in high volumes at prices that are considerably at variance with intrinsic values". So it's meaningless to argue about whether Bitcoin is a bubble without first estimating its intrinsic value.

If you are certain that Bitcoin will never gain significant traction in any of its target markets, then its intrinsic value is very low, and it's a bubble at almost any price. However, if you believe that it has a good chance of becoming a major player in any major financial arena, then it is almost certainly undervalued at its current price.

For example, consider Bitcoin as an alternative to credit cards for low profit margin industries. Grocery stores typically have a 2% profit margin and pay 3% in credit card fees. If they can convince their customers to pay with bitcoins, perhaps by offering a 1% discount, they could double their profit margins. Of course, we need better hardware wallets and point-of-sale terminals, both of which are in the works. And the current volatility complicates things. But the possibility of doubling profit margins provides a strong incentive to find solutions.

Consider countries like Argentina, with 25% inflation and frequent currency collapses. Some people there are already using Bitcoin for their savings, and as long as their government continues to abuse their currency, that number will certainly grow.

Consider all the countries that would like to unseat the U.S. dollar as the world's reserve currency. Consider various blocs of smaller countries that are having trouble competing internationally, each with its own weak currency. Imagine all the Arab nations, or a group of African nations, deciding to adopt Bitcoin as their common currency, much as the European nations adopted the Euro. As the U.S. dollar crisis deepens, this becomes an increasingly viable possibility.

Consider those wanting to send a portion of their paycheck back home to poor relatives, but not wanting to pay the high fees of today's systems.

Bitcoin is better than the existing money in many ways, and I believe its eventual adoption is inevitable. For that to happen, the price must go up. Many people have done their homework, reached the same conclusion, and that's why the price keeps rising.

http://techcrunch.com/2013/11/06/the-bitcoin-bubble/


lmfao
_________________
quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Thu Nov 14, 2013 1:28 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

quote:
Originally posted by SarX
And the current volatility complicates things.

_________________
quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Thu Nov 14, 2013 1:29 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

imagine how much money ron and rand paul could raise if they ran a bitcoin only campaign
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quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Thu Nov 14, 2013 1:32 pm 
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SarX



Joined: 28 Mar 2006
Posts: 2159
Location: Alabama

quote:
Originally posted by hassan-i-sabbah
quote:
Originally posted by SarX
And the current volatility complicates things.




What isn't volatile?
_________________
I don't think anyone has unlimited time, and that seems like a particularly strange conclusion to draw from about 20 minutes worth of posting on a message board. Hassan-i-Suckah

Post Thu Nov 14, 2013 1:34 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

quote:
Originally posted by SarX
quote:
Originally posted by hassan-i-sabbah
quote:
Originally posted by SarX
And the current volatility complicates things.




What isn't volatile?


relative to bitcoin? practically everything
_________________
quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Thu Nov 14, 2013 1:34 pm 
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SarX



Joined: 28 Mar 2006
Posts: 2159
Location: Alabama

quote:
Originally posted by hassan-i-sabbah
quote:
Originally posted by SarX
quote:
Originally posted by hassan-i-sabbah
quote:
Originally posted by SarX
And the current volatility complicates things.




What isn't volatile?


relative to bitcoin? practically everything


lol. Well since you're the owner of 50$ worth of bitcoin I'm sure you'll keep us all up to date on how much it increases or decreases over the next week right?
_________________
I don't think anyone has unlimited time, and that seems like a particularly strange conclusion to draw from about 20 minutes worth of posting on a message board. Hassan-i-Suckah

Post Thu Nov 14, 2013 1:46 pm 
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SarX



Joined: 28 Mar 2006
Posts: 2159
Location: Alabama

If it makes money, you sell it at the end of the week and let us know. If you lose money then make sure to tell everyone how it has strengthened your resolve that bitcoin is much more volatile than the stock market.

Can you do that William?
_________________
I don't think anyone has unlimited time, and that seems like a particularly strange conclusion to draw from about 20 minutes worth of posting on a message board. Hassan-i-Suckah

Post Thu Nov 14, 2013 1:53 pm 
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smurf_king



Joined: 07 Mar 2009
Posts: 4366

quote:
Originally posted by SarX
Foonat - it was sarcasm. Obviously all investmest are risky to a degree. However I did find some interesting information.


A bubble is "trade in high volumes at prices that are considerably at variance with intrinsic values". So it's meaningless to argue about whether Bitcoin is a bubble without first estimating its intrinsic value.

If you are certain that Bitcoin will never gain significant traction in any of its target markets, then its intrinsic value is very low, and it's a bubble at almost any price. However, if you believe that it has a good chance of becoming a major player in any major financial arena, then it is almost certainly undervalued at its current price.

For example, consider Bitcoin as an alternative to credit cards for low profit margin industries. Grocery stores typically have a 2% profit margin and pay 3% in credit card fees. If they can convince their customers to pay with bitcoins, perhaps by offering a 1% discount, they could double their profit margins. Of course, we need better hardware wallets and point-of-sale terminals, both of which are in the works. And the current volatility complicates things. But the possibility of doubling profit margins provides a strong incentive to find solutions.

Consider countries like Argentina, with 25% inflation and frequent currency collapses. Some people there are already using Bitcoin for their savings, and as long as their government continues to abuse their currency, that number will certainly grow.

Consider all the countries that would like to unseat the U.S. dollar as the world's reserve currency. Consider various blocs of smaller countries that are having trouble competing internationally, each with its own weak currency. Imagine all the Arab nations, or a group of African nations, deciding to adopt Bitcoin as their common currency, much as the European nations adopted the Euro. As the U.S. dollar crisis deepens, this becomes an increasingly viable possibility.

Consider those wanting to send a portion of their paycheck back home to poor relatives, but not wanting to pay the high fees of today's systems.

Bitcoin is better than the existing money in many ways, and I believe its eventual adoption is inevitable. For that to happen, the price must go up. Many people have done their homework, reached the same conclusion, and that's why the price keeps rising.

http://techcrunch.com/2013/11/06/the-bitcoin-bubble/



on the subject of replacing credit card payments:

bitcoin is convenient and all but as far as i've experiencied payments and such, it takes minutes to acknowledge, i don't know what is up with that, perhaps was the store i was paying to and its not that way to others

and apparently, to speed up the transaction, you have to add a 'miners fee'
its an option there on the transaction process, you can add a very small amount. in my previous experiences if you add 0.003 it takes around 5-10 mins to have official transaction confirmation and then acknowledged by the store, if you had 0.03 (that would be around 20 cents) it speeds up to between 2-3 mins. but still, not viable if you were let's say in a supermarket with many customers on line Razz
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Post Thu Nov 14, 2013 1:56 pm 
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hassan-i-sabbah



Joined: 10 Nov 2006
Posts: 27424

quote:
Originally posted by SarX
lol. Well since you're the owner of 50$ worth of bitcoin I'm sure you'll keep us all up to date on how much it increases or decreases over the next week right?


are you saying that i'm wrong, and that bitcoin is not volatile relative to other currencies, such as the US dollar?
_________________
quote:
Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

Post Thu Nov 14, 2013 1:58 pm 
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