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Posted: 5/24/2015 12:27:53 PM EDT
[#1]
Sure is. And becoming more popular.
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Posted: 5/24/2015 12:35:54 PM EDT
[#2]
Bitcoin-related start ups get a lot of venture funding still.
Let me find an episode of a podcast I listen to where he interviews 2 bitcoin entrepreneurs. They talk on an entry-level about it, the host knows little about Bitcoin. I went through the process of setting up an account with the failed Bitcoin exchange Mt. Gox in Japan, but didn't actually buy any. Haven't heard of any similar collapses since then. |
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Posted: 5/24/2015 12:39:28 PM EDT
[#3]
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Posted: 5/24/2015 12:42:17 PM EDT
[#4]
BTC isn't going away, pretty stable in between 230-240 USD/BTC
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Posted: 5/24/2015 12:42:41 PM EDT
[#5]
Bitcoin is still around and now there's a gold based one called Bitgold.
I'll go with the latter. Mind you, both are subject to hacking, internet theft, seizure or fraud (Mt. Gox). |
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Posted: 5/24/2015 12:43:00 PM EDT
[#6]
Had a member become a millionaire and have to leave because of beggars. Really.
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Posted: 5/24/2015 12:43:48 PM EDT
[#7]
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Posted: 5/24/2015 12:45:25 PM EDT
[#8]
How would someone take a payment via BC?
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Posted: 5/24/2015 12:46:10 PM EDT
[#9]
Quote HistoryQuoted:
Had a member become a millionaire and have to leave because of beggars. Really.  How do you just 'become a millionaire'?
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Posted: 5/24/2015 12:46:18 PM EDT
[#10]
Quote HistoryQuoted: Bitcoin is still around and now there's a gold based one called Bitgold. I'll go with the latter. Mind you, both are subject to hacking, internet theft, seizure or fraud (Mt. Gox). Just like the banks you use too, right? IIRC, many large banks just got hefty fines for market manipulation. No different really. |
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Posted: 5/24/2015 12:46:40 PM EDT
[#11]
Quote HistoryQuoted:
How would someone take a payment via BC? All you need to do is set up a bitcoin wallet. |
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Posted: 5/24/2015 12:47:00 PM EDT
[#12]
Quote HistoryQuoted:
How do you just 'become a millionaire'?Quote HistoryQuoted:
Quoted:
Had a member become a millionaire and have to leave because of beggars. Really. How do you just 'become a millionaire'?the exchange rate to USD became very favorable to him and he cashed out. |
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Posted: 5/24/2015 12:47:18 PM EDT
[#13]
Quote HistoryQuoted:
How do you just 'become a millionaire'?Quote HistoryQuoted:
Quoted:
Had a member become a millionaire and have to leave because of beggars. Really. How do you just 'become a millionaire'?Got in when it was cheap and the price went way up. |
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Posted: 5/24/2015 12:48:07 PM EDT
[#14]
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Posted: 5/24/2015 12:48:19 PM EDT
[#15]
Quote HistoryQuoted:
All you need to do is set up a bitcoin wallet. Quote HistoryQuoted:
Quoted:
How would someone take a payment via BC? All you need to do is set up a bitcoin wallet. https://electrum.org/ |
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Posted: 5/24/2015 12:48:20 PM EDT
[#16]
Quote HistoryQuoted: How do you just 'become a millionaire'?Quote HistoryQuoted: Quoted: Had a member become a millionaire and have to leave because of beggars. Really. How do you just 'become a millionaire'? |
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Posted: 5/24/2015 12:49:03 PM EDT
[#17]
The block chain ( underlying transaction mechanism of bitcoin) is gaining a huge amount if interest these days.
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Posted: 5/24/2015 12:49:15 PM EDT
[#18]
Quote HistoryQuoted:
Just like the banks you use too, right? IIRC, many large banks just got hefty fines for market manipulation. No different really. Quote HistoryQuoted:
Quoted:
Bitcoin is still around and now there's a gold based one called Bitgold. I'll go with the latter. Mind you, both are subject to hacking, internet theft, seizure or fraud (Mt. Gox). Just like the banks you use too, right? IIRC, many large banks just got hefty fines for market manipulation. No different really. What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. |
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Posted: 5/24/2015 12:51:57 PM EDT
[#19]
Quote HistoryQuoted:
What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. Quote HistoryQuoted:
Quoted:
Quoted:
Bitcoin is still around and now there's a gold based one called Bitgold. I'll go with the latter. Mind you, both are subject to hacking, internet theft, seizure or fraud (Mt. Gox). Just like the banks you use too, right? IIRC, many large banks just got hefty fines for market manipulation. No different really. What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. Bitcoin is just like cash. You give someone your private key (or they take it), they can clean you out. You don't follow the protocol rules ( like mt gox) and people can take advantage of your shitty programming and steal from you. |
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Posted: 5/24/2015 12:54:15 PM EDT
[#20]
Quote HistoryQuoted: What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. Quote HistoryQuoted: Quoted: Quoted: Bitcoin is still around and now there's a gold based one called Bitgold. I'll go with the latter. Mind you, both are subject to hacking, internet theft, seizure or fraud (Mt. Gox). Just like the banks you use too, right? IIRC, many large banks just got hefty fines for market manipulation. No different really. What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. Put $100000 in cash under you mattress. Get burglarized. Do you get your cash back? Eta: speaking of seizure, wonder how much the war on drugs has brought in.... |
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Posted: 5/24/2015 12:57:28 PM EDT
[#21]
Quote HistoryQuoted:
Point is that's no different than robbers holding up a bank truck and making off with their cash bags, or some hacker getting your debit card info and emptying your account. Put $100000 in cash under you mattress. Get burglarized. Do you get your cash back? Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
Bitcoin is still around and now there's a gold based one called Bitgold. I'll go with the latter. Mind you, both are subject to hacking, internet theft, seizure or fraud (Mt. Gox). Just like the banks you use too, right? IIRC, many large banks just got hefty fines for market manipulation. No different really. What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. Put $100000 in cash under you mattress. Get burglarized. Do you get your cash back? If someone robs a bank truck I lose nothing. If someone uses by Debit Card I'm covered by fraud protection. If I put $100000 in a mattress I'm a fucking idiot. What is your point? |
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Posted: 5/24/2015 12:58:45 PM EDT
[#22]
Quote HistoryQuoted:
Bitcoin is just like cash. You give someone your private key (or they take it), they can clean you out. You don't follow the protocol rules ( like mt gox) and people can take advantage of your shitty programming and steal from you. Concur with you DigDug. That's why I don't do online banking. I do like the idea of a currency (or better yet, money) that is not controlled by a central bank. That part of bitcoin is valid. However, it can easily be locked up if the internet kill switch is thrown. The central banks do want us to move to a cashless society. So much for anonymity in what you buy though. Those "saver" or "club" cards offered by the supermarket stores are data gathering devices which those stores later sell. I read somewhere where even insurance companies buy that information to calculate your health risk. |
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Posted: 5/24/2015 12:59:35 PM EDT
[#23]
It's a thing. It's like a mountain you climb. In that it started really low, got really high in the middle of your trip, and is back to being really low again, and anyone that bothered to go the full way is now probably feeling miserable and exhausted and looking for a nice gradual hill to climb, like bonds.
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Posted: 5/24/2015 1:01:05 PM EDT
[#24]
Quote HistoryQuoted: If someone robs a bank truck I lose nothing. If someone uses by Debit Card I'm covered by fraud protection. If I put $100000 in a mattress I'm a fucking idiot. What is your point? Quote HistoryQuoted: Quoted: Quoted: Quoted: Quoted: Bitcoin is still around and now there's a gold based one called Bitgold. I'll go with the latter. Mind you, both are subject to hacking, internet theft, seizure or fraud (Mt. Gox). Just like the banks you use too, right? IIRC, many large banks just got hefty fines for market manipulation. No different really. What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. Put $100000 in cash under you mattress. Get burglarized. Do you get your cash back? If someone robs a bank truck I lose nothing. If someone uses by Debit Card I'm covered by fraud protection. If I put $100000 in a mattress I'm a fucking idiot. What is your point? So you're saying Bitcoin provides can't offer the same fraud mechanisms? Getting reimbursed in another function separate from the cash/coin mechanism. |
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Posted: 5/24/2015 1:02:37 PM EDT
[#25]
One thing bitcoin is not (IMO) is something to buy and hold. It is not an investment. It is a transaction currency that works very very well for small/micro transactions and also for send value to someone else in a very short period of time.
It is not completely anonymous, contrary to popular thought. Look here to see real time transactions: https://blockchain.info/ |
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Posted: 5/24/2015 1:02:39 PM EDT
[#26]
Quote HistoryQuoted: the exchange rate to USD became very favorable to him and he cashed out. Quote HistoryQuoted: Quoted: Quoted: Had a member become a millionaire and have to leave because of beggars. Really. How do you just 'become a millionaire'?the exchange rate to USD became very favorable to him and he cashed out. |
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Posted: 5/24/2015 1:03:07 PM EDT
[#27]
Quote HistoryQuoted: Point is that's no different than robbers holding up a bank truck and making off with their cash bags, or some hacker getting your debit card info and emptying your account. Quote HistoryQuoted: Quoted: What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. But I guess reinventing a worse wheel appeals to some people. "This one's got 8 sides, it's more sides than a circle! Improvement!" ca-clunk-ca-clunk-ca-clunk all the way to the virtual bank/wallet. |
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Posted: 5/24/2015 1:04:15 PM EDT
[#28]
Quote HistoryQuoted:
So you're saying Bitcoin provides can't offer the same fraud mechanisms? Getting reimbursed in another function separate from the cash/coin mechanism. Millions stolen by Australian hackers and hackers in Europe. Mt. Gox closure. Did anyone ever get their bitcoins back? Bitcoin is not a regulatory agency or a bank. It's a software that supports crypto-currency. How is Bitcoin, a software, going to determine that the transfer was illicit? There's no governing body. Yes, I'm aware that every bitcoin transaction includes a history of its transfer, but there's no one who is going to step up and say to a thief, you don't own these. |
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Posted: 5/24/2015 1:04:31 PM EDT
[#29]
Quote HistoryQuoted: If banks get robbed you do get your money back. Quote HistoryQuoted: Quoted: Quoted: What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. |
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Posted: 5/24/2015 1:04:53 PM EDT
[#30]
Quote HistoryQuoted:
BTC isn't going away, pretty stable in between 230-240 USD/BTC lol Still traded for US Dollars. Wonder why that is? 
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Posted: 5/24/2015 1:07:32 PM EDT
[#31]
Bit gold ehh..
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Posted: 5/24/2015 1:07:34 PM EDT
[#32]
Quote HistoryQuoted:
lol Still traded for US Dollars. Wonder why that is? Quote HistoryQuoted:
Quoted:
BTC isn't going away, pretty stable in between 230-240 USD/BTC lol Still traded for US Dollars. Wonder why that is? Peter Schiff accepts them and sends you gold. He doesn't keep them but there is a service that converts bitcoins to dollars and after that transfer, he sends the gold. I should have bought it when it crashed to pennies. ETA: This thread is moar fun that seeing all the tranny or brony threads. |
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Posted: 5/24/2015 1:07:45 PM EDT
[#33]
Quote HistoryQuoted:
lol Still traded for US Dollars. Wonder why that is? Quote HistoryQuoted:
Quoted:
BTC isn't going away, pretty stable in between 230-240 USD/BTC lol Still traded for US Dollars. Wonder why that is? Or lots of other currencies, gold, silver. Last I heard there is going to be a bitcoin ETF on one of the markets. Many financial institutions are looking into using the blockchain as a way of validating transactions. As I said originally, there is a lot going on with bitcoin. |
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Posted: 5/24/2015 1:08:07 PM EDT
[#34]
Quote HistoryQuoted: If banks get robbed you do get your money back. If an ID thief takes money from my account/card, I get it back. That's an analogy failure if I ever saw one But I guess reinventing a worse wheel appeals to some people. "This one's got 8 sides, it's more sides than a circle! Improvement!" ca-clunk-ca-clunk-ca-clunk all the way to the virtual bank/wallet. Quote HistoryQuoted: Quoted: Quoted: What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. But I guess reinventing a worse wheel appeals to some people. "This one's got 8 sides, it's more sides than a circle! Improvement!" ca-clunk-ca-clunk-ca-clunk all the way to the virtual bank/wallet. It's funny you avoided the cash analogy in your mattress. Would you get that back too? Because Bitcoin is more like cash than a debit card.
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Posted: 5/24/2015 1:09:26 PM EDT
[#35]
Quote HistoryQuoted:
Up to $100k from the FDIC. Quote HistoryQuoted:
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What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. That's not how it works. FDIC has nothing to do with bank robberies.
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Posted: 5/24/2015 1:10:33 PM EDT
[#36]
I bought a little, and am just sitting on it.
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Posted: 5/24/2015 1:11:02 PM EDT
[#37]
Quote HistoryQuoted: Millions stolen by Australian hackers and hackers in Europe. Mt. Gox closure. Did anyone ever get their bitcoins back? Bitcoin is not a regulatory agency or a bank. It's a software that supports crypto-currency. How is Bitcoin, a software, going to determine that the transfer was illicit? There's no governing body. Yes, I'm aware that every bitcoin transaction includes a history of its transfer, but there's no one who is going to step up and say to a thief, you don't own these. Quote HistoryQuoted: Quoted: So you're saying Bitcoin provides can't offer the same fraud mechanisms? Getting reimbursed in another function separate from the cash/coin mechanism. Millions stolen by Australian hackers and hackers in Europe. Mt. Gox closure. Did anyone ever get their bitcoins back? Bitcoin is not a regulatory agency or a bank. It's a software that supports crypto-currency. How is Bitcoin, a software, going to determine that the transfer was illicit? There's no governing body. Yes, I'm aware that every bitcoin transaction includes a history of its transfer, but there's no one who is going to step up and say to a thief, you don't own these. Put your money into a Greek bank right now. You won't? Why not? |
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Posted: 5/24/2015 1:11:07 PM EDT
[#38]
Quote HistoryQuoted: That's not how it works. FDIC has nothing to do with bank robberies. Quote HistoryQuoted: Quoted: Quoted: Quoted: Quoted: What is your point? Mt Gox was a bitcoin purse that vanished and took people's bitcoins. Seizure made the US Govt one of the largest holders of Bitcoin. Hackers & internet thieves have stolen millions in bitcoins. That's not how it works. FDIC has nothing to do with bank robberies. Robberies and Other TheftsStolen funds may be covered by what's called a banker's blanket bond, which is a multi-purpose insurance policy a bank purchases to protect itself from fire, flood, earthquake, robbery, defalcation, embezzlement and other causes of disappearing funds. In any event, an occurrence such as a fire or bank robbery may result in a loss to the bank but should not result in a loss to the bank's customers. If a third party somehow gains access to your account and transacts business that you would not approve of, you must contact the bank and your local law enforcement authorities, who have jurisdiction over this type of wrongdoing. |
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Posted: 5/24/2015 1:11:20 PM EDT
[#39]
Quote HistoryQuoted:
Ok so if your bank becomes insolvent or the U.S. goes Greece and the bank decides to halt ALL withdrawals, where is you so called money? Pay up, your rent is due. What? You can't get access to your money? Interesting. It's funny you avoided the cash analogy in your mattress. Would you get that back too? Because Bitcoin is more like cash than a debit card. Currency under the mattress didn't work for folks in Weimar Germany, post WW I Austria and post WW II Hungary. It didn't work for Zimbabweans either. When fiat fails, what makes you think Bitcoin survives? Kill switch is thrown. Then what? Power grid goes down. Then what? Real property, fine art and PMs have endured the test of centuries. |
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Posted: 5/24/2015 1:13:10 PM EDT
[#40]
Quote HistoryQuoted: $6m was about what he walked away with IIRC. Quote HistoryQuoted: Quoted: Quoted: Quoted: Had a member become a millionaire and have to leave because of beggars. Really. How do you just 'become a millionaire'?the exchange rate to USD became very favorable to him and he cashed out. |
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Posted: 5/24/2015 1:14:31 PM EDT
[#41]
Quote HistoryQuoted:
How would someone take a payment via BC? The easiest way for a traditional business in the US would be to set up a merchant account through a payment processor, and have transactions deposited in your bank account after instantly being converted to dollars. I recommend, in order: * Circle * Coinbase * BitPay Note that this recommendation is for someone who is not interested in Bitcoin itself per se, and is not terribly concerned with things like the increasing regulation by and data sharing with the US federal government. You can be up and running in a few minutes, and never worry about what a bitcoin is. It's about as complicated as setting up Square to take credit cards. |
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Posted: 5/24/2015 1:14:52 PM EDT
[#42]
Quote HistoryQuoted:
Put your money into a Greek bank right now. You won't? Why not? The only difference between a Greek bank that holds its money in euros and Bitcoin is the former (euro) is fiat and the Bitcoin is virtual. As a virtual, it has no backing other than the faith of its holders. |
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Posted: 5/24/2015 1:15:06 PM EDT
[#43]
Quote HistoryQuoted: Did he have a "going away" thread when he left? I remember the thread about him getting paid and knew he was having a tough time dealing with the beggars... Quote HistoryQuoted: Quoted: Quoted: Quoted: Quoted: Had a member become a millionaire and have to leave because of beggars. Really. How do you just 'become a millionaire'?the exchange rate to USD became very favorable to him and he cashed out. |
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Posted: 5/24/2015 1:15:57 PM EDT
[#44]
Quote HistoryQuoted: $6m was about what he walked away with IIRC. Quote HistoryQuoted: Quoted: Quoted: Quoted: Had a member become a millionaire and have to leave because of beggars. Really. How do you just 'become a millionaire'?the exchange rate to USD became very favorable to him and he cashed out. |
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Posted: 5/24/2015 1:18:19 PM EDT
[#45]
Anyone have a link to the 6x millionaire's thread. Sounds interesting.
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Posted: 5/24/2015 1:18:40 PM EDT
[#46]
Quote HistoryQuoted:
Currency under the mattress didn't work for folks in Weimar Germany, post WW I Austria and post WW II Hungary. It didn't work for Zimbabweans either. When fiat fails, what makes you think Bitcoin survives? Kill switch is thrown. Then what? Power grid goes down. Then what? Real property, fine art and PMs have endured the test of centuries. Quote HistoryQuoted:
Quoted:
Ok so if your bank becomes insolvent or the U.S. goes Greece and the bank decides to halt ALL withdrawals, where is you so called money? Pay up, your rent is due. What? You can't get access to your money? Interesting. It's funny you avoided the cash analogy in your mattress. Would you get that back too? Because Bitcoin is more like cash than a debit card. Currency under the mattress didn't work for folks in Weimar Germany, post WW I Austria and post WW II Hungary. It didn't work for Zimbabweans either. When fiat fails, what makes you think Bitcoin survives? Kill switch is thrown. Then what? Power grid goes down. Then what? Real property, fine art and PMs have endured the test of centuries. You're insane if you think that titled property or art will survive the immediate aftermath of the destruction of the power grid. |
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Posted: 5/24/2015 1:18:48 PM EDT
[#47]
Money is fungible people, when a bank gets robbed it doesn't come out of your account.
You think your savings account is a big stack of cash in a vault with your name on it? |
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Posted: 5/24/2015 1:19:14 PM EDT
[#48]
Quote HistoryQuoted:
The easiest way for a traditional business in the US would be to set up a merchant account through a payment processor, and have transactions deposited in your bank account after instantly being converted to dollars. I recommend, in order: * Circle * Coinbase * BitPay Note that this recommendation is for someone who is not interested in Bitcoin itself per se, and is not terribly concerned with things like the increasing regulation by and data sharing with the US federal government. You can be up and running in a few minutes, and never worry about what a bitcoin is. It's about as complicated as setting up Square to take credit cards. Quote HistoryQuoted:
Quoted:
How would someone take a payment via BC? The easiest way for a traditional business in the US would be to set up a merchant account through a payment processor, and have transactions deposited in your bank account after instantly being converted to dollars. I recommend, in order: * Circle * Coinbase * BitPay Note that this recommendation is for someone who is not interested in Bitcoin itself per se, and is not terribly concerned with things like the increasing regulation by and data sharing with the US federal government. You can be up and running in a few minutes, and never worry about what a bitcoin is. It's about as complicated as setting up Square to take credit cards. Thanks, I think we'll stay out of the Bitcoin arena for a while though. |
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Posted: 5/24/2015 1:19:27 PM EDT
[#49]
Quote HistoryQuoted:
The only difference between a Greek bank that holds its money in euros and Bitcoin is the former (euro) is fiat and the Bitcoin is virtual. As a virtual, it has no backing other than the faith of its holders. Quote HistoryQuoted:
Quoted:
Put your money into a Greek bank right now. You won't? Why not? The only difference between a Greek bank that holds its money in euros and Bitcoin is the former (euro) is fiat and the Bitcoin is virtual. As a virtual, it has no backing other than the faith of its holders. Bitcoin is a digital currency. digital != virtual |
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Posted: 5/24/2015 1:20:29 PM EDT
[#50]
Quote HistoryQuoted:
Thanks, I think we'll stay out of the Bitcoin arena for a while though. Quote HistoryQuoted:
Quoted:
Quoted:
How would someone take a payment via BC? The easiest way for a traditional business in the US would be to set up a merchant account through a payment processor, and have transactions deposited in your bank account after instantly being converted to dollars. I recommend, in order: * Circle * Coinbase * BitPay Note that this recommendation is for someone who is not interested in Bitcoin itself per se, and is not terribly concerned with things like the increasing regulation by and data sharing with the US federal government. You can be up and running in a few minutes, and never worry about what a bitcoin is. It's about as complicated as setting up Square to take credit cards. Thanks, I think we'll stay out of the Bitcoin arena for a while though. Your call. If you change your mind feel free to shoot me a PM, and I'll be happy to help you navigate those waters. I've been heavily involved in Bitcoin since 2011. |
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