Rory R. O'Rourke @Mejwell 1h
YO DUDES major bitcoin traders are attempting to stabilize market by buying huge swaths of bitcoin, like that FILTHY FED #bitcoin #btc
― Matt Armstrong, Wednesday, 10 April 2013 21:07 (eleven years ago) link
DDOS apparentlyhttp://techcrunch.com/2013/04/10/bitcoin-crash/
― gr8 tr∞lls i have known (forksclovetofu), Wednesday, 10 April 2013 21:36 (eleven years ago) link
The Tokyo-based exchange said last week that hackers are engaging in a strategy to manipulate the price of the currency: “Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three times like we saw over the past few days and they profit.”
― am0n, Wednesday, 10 April 2013 21:41 (eleven years ago) link
"hackers"
― am0n, Wednesday, 10 April 2013 21:42 (eleven years ago) link
im not sure that explanation makes any sense
― lag∞n, Wednesday, 10 April 2013 21:43 (eleven years ago) link
sounds like basically just the shit that happens when you have a relatively liquidity but overcapitalized commodity. stockpiling, manipulation, etc.
― Chuck E was a hero to most (s.clover), Wednesday, 10 April 2013 21:44 (eleven years ago) link
not even necessarily intentional. price hits a certain amount and some big holders decide to take profits. maybe the downturn causes a few other people to act more quickly and dump their coins too. typically in a major market there are lots of other orders and algos and bots that tend to even things out and take advantage of these moves before they just throw everything around so wildly (which works until those algos all line up and multiply effects instead of mitigating them). but this isn't a major market with all those institutions trying to bleed out arbitrage and regulate movements and etc, and so when people act, it has sharp and catastrophic affects on the market.
― Chuck E was a hero to most (s.clover), Wednesday, 10 April 2013 21:47 (eleven years ago) link
noted leet haxor George Soros
― Matt Armstrong, Wednesday, 10 April 2013 21:53 (eleven years ago) link
It's really not a "hack" at all, it's more like penny stock manipulation
― --808 542137 (Hurting 2), Wednesday, 10 April 2013 21:58 (eleven years ago) link
im not sure that explanation makes any sense― lag∞n, Wednesday, April 10, 2013 5:43 PM
this should clear things up
http://siliconangle.com/files/2011/08/bitcoin-crash.png
― am0n, Wednesday, 10 April 2013 22:03 (eleven years ago) link
http://www.naturalnews.com/gallery/300x250/Money/Coins-Crash-Money.jpg
― Heyman (crüt), Wednesday, 10 April 2013 22:04 (eleven years ago) link
http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/4/10/1365626013983/Bitcoin-010.jpg
problem is you can hold it imho
― lag∞n, Wednesday, 10 April 2013 22:05 (eleven years ago) link
http://siliconangle.com/files/2013/01/bitcoin-hand-drop.jpg
― Heyman (crüt), Wednesday, 10 April 2013 22:06 (eleven years ago) link
that seems like a pretty good scam, brb, buying a few grand in bitcoins
― I, rrational (mh), Wednesday, 10 April 2013 22:40 (eleven years ago) link
buy low sell high breh
― --808 542137 (Hurting 2), Wednesday, 10 April 2013 22:44 (eleven years ago) link
then dump enough of your stock to tank the market considerably and make people rush, then buy up more of them. rinse, repeat
― I, rrational (mh), Wednesday, 10 April 2013 22:45 (eleven years ago) link
what could go wrong
― lag∞n, Wednesday, 10 April 2013 22:46 (eleven years ago) link
idk, people do this in Diablo 3 all the time
― I, rrational (mh), Wednesday, 10 April 2013 22:46 (eleven years ago) link
yo... anybody wanna trade some bitcoins
― 乒乓, Wednesday, 10 April 2013 22:50 (eleven years ago) link
http://i.imgur.com/gdURUT9.pnghttp://i.imgur.com/gdURUT9.pnghttp://i.imgur.com/gdURUT9.png i got 3 bitcoins right here... will sell them for 20$ each
― 乒乓, Wednesday, 10 April 2013 22:52 (eleven years ago) link
i have a 2010 silver bitcoin stashed in case everything goes 'the road'
― Roberto Spiralli, Wednesday, 10 April 2013 22:53 (eleven years ago) link
oh nice... i missed out on the reservation list for those... still kicking myself...
― 乒乓, Wednesday, 10 April 2013 22:54 (eleven years ago) link
i'm trying to remember if i heard of these before today.
― Pope Rusty I (Dr Morbius), Wednesday, 10 April 2013 22:57 (eleven years ago) link
I've been wondering a lot whether it would be possible to create a bitcoin that didn't have a fixed supply, like that self-expanded and contracted its supply according to some kind of algorithms/data. IDK what that would be based on, production in the economy? Value of transactions in Bitcoin?
― --808 542137 (Hurting 2), Thursday, 11 April 2013 02:21 (eleven years ago) link
There could be a long-running thing but such algorithmic finds are hard to balance. You could make a central bank, encode arbitrary strings, and award tokens to whoever decrypts them. That is usually a product of chance rather than a known unit of work, though.
― I, rrational (mh), Thursday, 11 April 2013 02:32 (eleven years ago) link
http://bit.ly/11Wz5X0
― markers, Thursday, 11 April 2013 02:38 (eleven years ago) link
fishing 4 bitc0ins http://techcrunch.com/2013/04/11/mt-gox-cross-site-scripting-attack-wipes-out-bitcoin-accounts/
― lag∞n, Thursday, 11 April 2013 14:34 (eleven years ago) link
Being a techie, I started researching.
― I, rrational (mh), Thursday, 11 April 2013 14:39 (eleven years ago) link
ha yes
― lag∞n, Thursday, 11 April 2013 14:45 (eleven years ago) link
http://i.imgur.com/vCkuFAY.jpeg
― 乒乓, Thursday, 11 April 2013 14:51 (eleven years ago) link
coins on the bit / coins on the bit / bitcoins / bitcoins
― am0n, Thursday, 11 April 2013 15:12 (eleven years ago) link
http://mises.org/daily/6399/The-Moneyness-of-Bitcoins
― Chuck E was a hero to most (s.clover), Thursday, 11 April 2013 19:34 (eleven years ago) link
"Thus, on the free market, commodity monies, and presumably gold and silver, still have a great comparative advantage."
cool conclusion austrian economist guy thanks.
― Chuck E was a hero to most (s.clover), Thursday, 11 April 2013 19:35 (eleven years ago) link
lmao http://gawker.com/5994433/idiot-dick-facebook-twins-now-own-one-percent-of-all-bitcoin
― lag∞n, Thursday, 11 April 2013 21:15 (eleven years ago) link
another smash from the go-in brothers
― --808 542137 (Hurting 2), Thursday, 11 April 2013 21:17 (eleven years ago) link
that led them to sure Facebook
― am0n, Thursday, 11 April 2013 21:20 (eleven years ago) link
oh man good catch
― zero dark (s1ocki), Thursday, 11 April 2013 21:35 (eleven years ago) link
http://www.businessinsider.com/why-bitcoin-speculators-laugh-at-anyone-who-calls-it-a-bubble-2013-4
― Matt Armstrong, Thursday, 11 April 2013 23:55 (eleven years ago) link
lol
― lag∞n, Friday, 12 April 2013 00:52 (eleven years ago) link
I think this subreddit should seriously consider having suicide hotline info posted. (self.Bitcoin)No, bitcoin is not dead. But we've got some work to do. (self.Bitcoin)Repeat after me - "I have no moral obligation to buy, hold, or sell Bitcoin just because others want me to do so." (self.Bitcoin)Libertarian Party (United States) now accepting bitcoin. (lp.org)I've been a trader for over 15 years and I never dreamed I'd see this chart again. Please be careful guys and gals. (i.imgur.com)I adopted her yesterday with Bitcoin earnings. She's one of the most expensive purchases I've ever made. I'm thinking of naming her Bubble. (imgur.com)The hypocrisy of the Bitcoin community (self.Bitcoin)Bloomberg on Bitcoin Currency: Has the Bubble Popped? (youtube.com)The Winklevii own 1% of bitcoins outstanding. (dealbook.nytimes.com)Can people please stop handing out financial advice as if they were an expert. Stupid people are listening and getting burnt. (self.Bitcoin)How to buy these cheap coins right now (self.Bitcoin)Help phase out Mt. Gox. (self.Bitcoin)Order Placing Suspended on MT.Gox (self.Bitcoin)Who else didn't sell? (self.Bitcoin)Now that the hype is gone and media will forget - can we focus on fixing some Bitcoin fundamental issue? (self.Bitcoin)Lead Bitcoin Developer Comments on Bitcoin "Bubble" and Mocks Speculators (i.imgur.com)Official: Bitfloor being DDoS'd (twitter.com)Don't do anything drastic.. (reddit.com)Winklevoss twins hold %1 of all bitcoins (theverge.com)"I predict there will be between one and five Bitcoin bubbles" -Bitcoin Lead Developer Gavin Andresen, 2010 (self.Bitcoin)Unfazed By Bitcoin’s Wild Swings And Mysterious Origins, Silicon Valley VCs Place Their Bets (techcrunch.com)New Get Rich Quick Scheme: Create a currency that's pegged to Mt. Gox lag time. (self.Bitcoin)The only thing that is holding bitcoin back is the way it has to be purchased. (self.Bitcoin)Bitcoin Crash Spurs Race to Create New Exchanges (cnbc.com)MTGOX gloats about its "success" after screwing over entire Bitcoin community (self.Bitcoin)
― Chuck E was a hero to most (s.clover), Friday, 12 April 2013 02:17 (eleven years ago) link
wow
― geeta, Friday, 12 April 2013 02:38 (eleven years ago) link
this is as good as sports tbh
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 03:53 (eleven years ago) link
The most you can lose if Bitcoins go to zero is 100% of your money.The most you can make, meanwhile ...Well, no one knows exactly how much you can make.But it's probably a lot more than 100%.
The most you can make, meanwhile ...
Well, no one knows exactly how much you can make.
But it's probably a lot more than 100%.
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 03:54 (eleven years ago) link
lol agreed. schadenfreude at its finest xp
― The description of my page is: Gargoyles Swimsuit Special (Matt P), Friday, 12 April 2013 03:55 (eleven years ago) link
the CEO of Business Insider
― Matt Armstrong, Friday, 12 April 2013 04:02 (eleven years ago) link
"I've always estimated the final price of a Bitcoin at between $10,000 - $1,000,000 maybe 5-10 years from now. The low end being based on the size and volume of Western Union, PayPal, Visa/MasterCard. And the high end being based on the total global gold supply."
http://www.reddit.com/r/Bitcoin/comments/1bo02h/why_1000_in_60_days_a_paypal_comparison/c98fm0w
― Matt Armstrong, Friday, 12 April 2013 04:06 (eleven years ago) link
ceo of business insider and former fraudulent securities analyst describes bubble says hey maybe bubbles are okay cause some guys will make money
― lag∞n, Friday, 12 April 2013 04:08 (eleven years ago) link
good guess!!! xp
― zero dark (s1ocki), Friday, 12 April 2013 04:09 (eleven years ago) link
are there bit cents too cause dont these prices make these things hard to spend
― lag∞n, Friday, 12 April 2013 04:09 (eleven years ago) link
you can spend them in fractions iirc
― zero dark (s1ocki), Friday, 12 April 2013 04:10 (eleven years ago) link