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Anyone paying attention to this mess? Mt. Gox, a bitcoin exchange, just disappeared overnight - the second bitcoin exchange to vanish in a week -- and thousands of bitcoin investors apparently have lost all their money. Man, who would invest in this nonsense? Crazy.
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yeah, the confidence level for digital currency is dropping through the floor. bizarro world stuff.It certainly feels that way. But I'm distrustful of that feeling and am curious about evidence. -
I am shocked that a completely unregulated bank run by amateurs would eventually get blown up by an inside job. Wasn't the free market supposed to save us from needing oversight?
shocked I tell you.In the best of times, our days are numbered, anyway. And it would be a crime against Nature for any generation to take the world crisis so solemnly that it put off enjoying those things for which we were presumably designed in the first place, and which the gravest statesmen and the hoarsest politicians hope to make available to all men in the end: I mean the opportunity to do good work, to fall in love, to enjoy friends, to sit under trees, to read, to hit a ball and bounce the baby.Comment
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Did anyone here trade in Bitcoins?Bob- I'm not exactly sure it would ROCK as you say it Byron.. it may be cool, by typical text book descriptions. Your opinion of this is shallow and poorly constructed, but allow me to re-craft your initial thought into something tangable.Comment
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The free market assumes that potential investors can figure out for themselves that random Japanese dudes trading Magic: The Gathering cards online might not be adequately equipped to safely run a global currency exchange.Originally posted by mjl View Post
"When I use a word," Humpty Dumpty said in rather a scornful tone, "it means just what I choose it to mean - neither more nor less."
"The question is," said Alice, "whether you can make words mean so many different things."
"The question is," said Humpty Dumpty, "which is to be master - that's all."Comment
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Apparently Japan’s Financial Services Agency, which oversees the country’s banking, insurance, securities and exchange sectors, does not view the supervision of digital currency exchanges as its problem. Their statement to The Wall Street Journal:
Sounds like the investors are screwed.Originally posted by FSA"When I use a word," Humpty Dumpty said in rather a scornful tone, "it means just what I choose it to mean - neither more nor less."
"The question is," said Alice, "whether you can make words mean so many different things."
"The question is," said Humpty Dumpty, "which is to be master - that's all."Comment
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Bitcoins? Sounds like some kind of currency for a D&D knockoff type role-playing game.Considering his only baseball post in the past year was bringing up a 3 year old thread to taunt Hornsby and he's never contributed a dime to our hatpass, perhaps?Comment
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I'm stunned that the price hasn't tanked even more"You know what's wrong with America? If I lovingly tongue a woman's nipple in a movie, it gets an "NC-17" rating, if I chop it off with a machete, it's an "R". That's what's wrong with America, man...."--Dennis Hopper
"One should judge a man mainly from his depravities. Virtues can be faked. Depravities are real." -- Klaus KinskiComment
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maybe this is who stole all the bitcoins
"You know what's wrong with America? If I lovingly tongue a woman's nipple in a movie, it gets an "NC-17" rating, if I chop it off with a machete, it's an "R". That's what's wrong with America, man...."--Dennis Hopper
"One should judge a man mainly from his depravities. Virtues can be faked. Depravities are real." -- Klaus KinskiComment
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All your bitcoin are belong to us!I'm not expecting to grow flowers in the desert...Comment
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this.Originally posted by Fresno Bob View PostIt certainly feels that way. But I'm distrustful of that feeling and am curious about evidence.Comment
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Okay, what's the concept? Everything I read is so heavily slanted for or against it that I can't get a good handle on it.Originally posted by eldiablo505Comment
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I always liked Alfonseca and he is twice the pitcher Hall of Famer Mordecai Brown was - cavebird 12-8-05
You'd be surprised on how much 16 months in a federal pen can motivate you - gashousegang 7-31-06
"...That said, the hippo will always be the gold standard here" - Heyelander's VD XII avatar analysis of SeaDogStat 1-29-07
It's surprising that attempts to coordinate large groups of socially retarded people would end in this kind of chaos. - Cobain's Ghost 12-19-07Comment
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Here's a decent starting point assuming you aren't afraid of technical concepts: http://www.joeydevilla.com/2013/04/1...little-profit/Originally posted by Lucky View PostIn the best of times, our days are numbered, anyway. And it would be a crime against Nature for any generation to take the world crisis so solemnly that it put off enjoying those things for which we were presumably designed in the first place, and which the gravest statesmen and the hoarsest politicians hope to make available to all men in the end: I mean the opportunity to do good work, to fall in love, to enjoy friends, to sit under trees, to read, to hit a ball and bounce the baby.Comment
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You run a program on your PC that "mines" for bitcoins ... basically your PC number crunches an algorithm all day long. All the very latest high end GPU's have been getting bought up like crazy to satisfy the enormous computing power required these days.Originally posted by Lucky View Post
If you got into this early on, you could have made a fortune. You keep your mined bitcoins in an electronic wallet on your PC. Beware! ... if you lose your wallet, or access to your wallet, you lose everything in it. There's no customer service number to get your password back, and I'm not sure the police would even know what to do if you got yours stolen ... it's not a recognized currency after all.
These days, it takes ages (and a lot of energy ... err ... as in electricity) just to mine a fraction of a coin. It's really not worth the effort unless you have masses of computing power (server farms).
So it's basically value invented out of thin air. It's not money, it's more like a hot stock that you can exchange for money on the bitcoin exchanges.
Call me old fashioned, but I like to think of value as being tied to something concrete (products / services etc) rather than pure demand. Then again, "money from nothing" pretty much describes how the monetary system works ... so maybe Bitcoins are just the logical next step in our plunge into oblivion.Comment
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