Looks like Mt. Gox is dead...

[ImpulsE69]

I already have 1 billion ATCOINS using my old 4870. How rich are I?

 

[SheHateMe]

This coin stuff is the dumbest I've ever seen. Sure, some people have struck it rich...but you had to get into it super early when difficultly was low. Now, you don't have a chance in hell with bitcoins unless you have an ASIC miner...which are expensive as hell.

Litecoin will be heading in the same direction soon.

Honestly, its not worth the added cost in my electricity bills...nor worth the $2k+ hit to my pockets for the equipment.

I'd rather work and mine this currency called USD.

 

[CurrentlyPissed]

This coin stuff is the dumbest I've ever seen. Sure, some people have struck it rich...but you had to get into it super early when difficultly was low. Now, you don't have a chance in hell with bitcoins unless you have an ASIC miner...which are expensive as hell.

Litecoin will be heading in the same direction soon.

Honestly, its not worth the added cost in my electricity bills...nor worth the $2k+ hit to my pockets for the equipment.

I'd rather work and mine this currency called USD.

You are so far out of touch yet you replied.

I'd suggest research first next time.

I made over 2k last month off my normal gaming pc.

 

[ImpulsE69]

You are so far out of touch yet you replied.

I'd suggest research first next time.

I made over 2k last month off my normal gaming pc.

I think the point isn't that you can't make money. The point is it's way too easy to get suckered and that it is not a dependable way to make money. Again, I suppose if you play it like the stock market, it's like gambling, but to say it's a currency is a stretch. ANYTHING can be a "currency" if you place value on it. That doesn't mean it's a good currency.

 

[halik]

You are so far out of touch yet you replied.

I'd suggest research first next time.

I made over 2k last month off my normal gaming pc.

Free electricity?

 

[ultimatebob]

You are so far out of touch yet you replied.

I'd suggest research first next time.

I made over 2k last month off my normal gaming pc.

I think that a bunch of us made money back when the coins were cheap and easy to mine.

Now? Not so much. Bitcoin isn't profitable to mine with video cards anymore, and you're lucky to make two or three dollars a day mining Litecoin and it's clones once you factor in power costs.

Sure, you can still get lucky picking the hot Litecoin clone of the week and mining that, but you gotta be really lucky to pick the right one.

 

[Attic]

You are so far out of touch yet you replied.

I'd suggest research first next time.

I made over 2k last month off my normal gaming pc.

BTC's biggest hurdle remains the threat it posses to the current monetary system.

If/when BTC succeeds, it has the potential to add huge amounts of power back into the individuals hands over their money. That power would be directly taken from the current money changers whose wealth is derived from legalized theft backed by serious threats of noncompliance.

Empowering individuals has it's own drawbacks (an individual can fail and can be stupid in choice), but BTC is trying to achieve this outcome to empower individuals over their money and it would come at the expense of centralized controls profit motive to increasingly centralize control of everything.

 

[halik]

BTC's biggest hurdle remains the threat it posses to the current monetary system.

If/when BTC succeeds, it has the potential to add huge amounts of power back into the individuals hands over their money. That power would be directly taken from the current money changers whose wealth is derived from legalized theft backed by serious threats of noncompliance.

Empowering individuals has it's own drawbacks (an individual can fail and can be stupid in choice), but BTC is trying to achieve this outcome to empower individuals over their money and it would come at the expense of centralized controls profit motive to increasingly centralize control of everything.

Huh? I suspect all the points you're trying to put forth are untenable.

Biggest hurdle for bitcoin:

1) deflationary design, while economic output is inherently inflationary (population growth, technological progress)
2) zero legal backing and recourse vis a vis property rights

 

[mizzou]

So does this mean graphics card are going to be cheap again?

on ebay at least lol

 

[mizzou]

I'm amazed to see how people still support this as, specifically, Bitcoin will be the future currency.

Look what just happened...the BIGGEST exchange just revealed a massive hack (or corruption) and nothing is going to happen. In fact, they are saying they'll be back and do it all over again.

Someone just made out like a bandit, and there are still people willing to leave their doors unlocked at night!

This is like the DOW or NASDAQ coming out and saying "Hey, we lost all your money....but we'll be back as DAQDOW "
----------------------------------------------Thinking time

Nothing is secure, right? I mean, banks have vaults that can be cracked or blown, and websites can be hacked....you could get mugged, etc.etc.

Insurance is the difference. Insurance means, that a company can make money off betting your shit is NOT stolen. When it IS stolen, they have enough money to pay you back what you lost.

If something can be Insured, that means it is relatively SAFE and STABLE

When Bitcoins can be INSURED, I'll say then it can be looked at SERIOUSLY.

Until then, it's just a rose colored pokemon beanie baby.


https://www.elliptic.co/vault

There you go, there's some type of insurance...but they only pay you a fraction of what was lost :awe: A 50btc storage request would cost 0.270btc per month. That's hilarious. But I guess it's better then "Sorry bro" that Mtgox is giving people.

 

[CurrentlyPissed]

Free electricity?

Might as well be. Considering it doubles as heat. It costed me roughly $22 last month.

During winter months (Oct. - May) the charge is 8.08 cents per kWh for the first 750 kWh used and 5.38 cents per kWh for any usage over 750 kWh.

http://ameren.com/sites/aue/Rates/Pages/ResRates.aspx

 

[Hugo Drax]

Cue the tards that whine about BTC not being as "safe" as other fiat currency. The especially stupid ones will call for regulation, while the point flies 1,000m above their heads.

At least when I have 10 dollars in my wallet I know it will be there tomorrow.

This bitcoin game is all fishy.

 

[mizzou]

Oh and

regardless, it is a big deal that this happened. A HUGE deal. Yeah bad apples need to be weeded out, but this is like game of thrones style weeding.

 

[BoberFett]

Huh? I suspect all the points you're trying to put forth are untenable.

Biggest hurdle for bitcoin:

1) deflationary design, while economic output is inherently inflationary (population growth, technological progress)
2) zero legal backing and recourse vis a vis property rights

This.

One can argue that inflationary policy which is too high harms the lower/middle classes and intentionally helps the wealthy, but a currency designed on deflation is designed to fail.

And nobody cares about someone who's wealthy in bitcoins, it's what those bitcoins represent in real currency such as the USD that is what people care about. Can you buy a house or a care with bitcoin? Nope. You can trade it for real money to buy those things, because bitcoin isn't a currency, it's a virtual commodity. And if you really like virtual commodities, I've got some tulip bulbs you might be interested in...

 

[bradley]

Of course Bitcoin was set to fail, it is backed by virtual nothingness.... um, wait a minute. Obviously Bitcoin is not large or established enough to absorb those type of losses, theft and bank runs.

I got my mined coins out at almost the perfect time and consider myself very lucky. This is going to set the inevitability of virtual currency back a few years.

 

[jagec]

If/when BTC succeeds, it has the potential to add huge amounts of power back into the individuals hands over their money. That power would be directly taken from the current money changers whose wealth is derived from legalized theft backed by serious threats of noncompliance.

You vote for Ron Paul a lot, don't you?

 

[mugs]

Someone stole 3.5% of the all of the bitcoins that ever have or ever will exist, and they didn't notice it for several years?

 

[Mandres]

Someone stole 3.5% of the all of the bitcoins that ever have or ever will exist, and they didn't notice it for several years?

Yea, what's the fucking story here? I thought that all BTC transactions are recorded and permanently stored as part of the "block chain". So let's look at the transaction history; where did all the coins go? This was a heist greater than any bank robbery in history - Where is the FBI?

 

[sunzt]

Someone stole 3.5% of the all of the bitcoins that ever have or ever will exist, and they didn't notice it for several years?

I'm sure they noticed.

They either:
A) Ignored the problem to avoid negative press
B) Were complicit and got something out of it.

 

[jagec]

This was a heist greater than any bank robbery in history - Where is the FBI?

They're still investigating the destruction-of-property complaints from the huge Eve battle of last month.

 

[sunzt]

Yea, what's the fucking story here? I thought that all BTC transactions are recorded and permanently stored as part of the "block chain". So let's look at the transaction history; where did all the coins go? This was a heist greater than any bank robbery in history - Where is the FBI?

Why would the FBI care? It's based in Tokyo, its not regulated, and its speculation.

 

[l0cke]

This coin stuff is the dumbest I've ever seen. Sure, some people have struck it rich...but you had to get into it super early when difficultly was low. Now, you don't have a chance in hell with bitcoins unless you have an ASIC miner...which are expensive as hell.

Litecoin will be heading in the same direction soon.

Honestly, its not worth the added cost in my electricity bills...nor worth the $2k+ hit to my pockets for the equipment.

I'd rather work and mine this currency called USD.

Litecoin and other scrypt based coins are supposed to be ASIC proof, but I don't fully believe them.

 

[halik]

Litecoin and other scrypt based coins are supposed to be ASIC proof, but I don't fully believe them.

Err aren't ASICs turing complete?

 

[JEDIYoda]

It's FDIC insured......At least that's what they told me...

now that is classic and funny!!

 

[Kadarin]

Someone stole 3.5% of the all of the bitcoins that ever have or ever will exist, and they didn't notice it for several years?

Tinfoil hat time: What if this were an NSA-led operation to crash bitcoin and limit the possibility of it becoming a viable currency outside the control of the US banking system?