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
they go down to the 8th decimal place. I think 8th decimal unit is called a satoshi?
― Matt Armstrong, Friday, 12 April 2013 04:12 (eleven years ago) link
gesundheit
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 04:14 (eleven years ago) link
http://blogs.miaminewtimes.com/shortorder/bitohoney.jpg
― buzza, Friday, 12 April 2013 04:14 (eleven years ago) link
― Matt Armstrong, Friday, April 12, 2013 12:12 AM (3 minutes ago) Bookmark Flag Post Permalink
ok if they all have names im ready to jump on the bandwagon
― lag∞n, Friday, 12 April 2013 04:18 (eleven years ago) link
http://coinabul.com/images/bitcoin_flyer5.png
― geeta, Friday, 12 April 2013 08:36 (eleven years ago) link
haha oops that's big
― geeta, Friday, 12 April 2013 08:37 (eleven years ago) link
I kinda hope those crazy kids bring it back from the brink (or just claim BitCoin was one long elaborate Situationist prank)
― Elvis Telecom, Friday, 12 April 2013 11:32 (eleven years ago) link
Sailing dangerously close to goatse territory there xxp
― bizarro gazzara, Friday, 12 April 2013 13:27 (eleven years ago) link
― Elvis Telecom, Friday, April 12, 2013 7:32 AM Bookmark Flag Post Permalink
like if the last bitcoin mined caused all the bitcoins to dissipate, and then a message flashed on everyone's computer screens, and "peace on earth" was all it said
― --808 542137 (Hurting 2), Friday, 12 April 2013 13:41 (eleven years ago) link
be excellent.
― Chuck E was a hero to most (s.clover), Friday, 12 April 2013 13:43 (eleven years ago) link
and then it cuts to a man in a top hat with a twirly moustache, sitting at his computer, and steam shoots out of his ears
― --808 542137 (Hurting 2), Friday, 12 April 2013 13:45 (eleven years ago) link
http://money.cnn.com/2013/04/12/investing/bitcoin-bubble/
The price of Bitcoins has plunged more than 75% in the past two days, sparking a rush of activity that overwhelmed trading platforms and suggested the bubble in the virtual currency has burst.Bitcoins were down to $61.11 as of 9 a.m. ET Friday. Prices reached as high as $266 per Bitcoin around 7:30 a.m. ET Wednesday. But the price started to fall through the rest of day and Thursday morning.
― --808 542137 (Hurting 2), Friday, 12 April 2013 14:16 (eleven years ago) link
lulz
it's semi tempting to try jumping into this when the price hits the teens, because you know someone is going to prop it up for a bit and you could probably double your money on a quick turnaround
― relentless technosexuality (DJP), Friday, 12 April 2013 14:26 (eleven years ago) link
id be worried that the failure of the trading infrastructure could scare a lot of people off
― lag∞n, Friday, 12 April 2013 14:35 (eleven years ago) link
there's that and also the govt could step in any day
― iatee, Friday, 12 April 2013 14:37 (eleven years ago) link
― relentless technosexuality (DJP), Friday, April 12, 2013 10:26 AM Bookmark Flag Post Permalink
yeah, this sort of thinking is always tempting, that's why these things keep happening. If I had an extra thousand dollars lying around, why not. I never seem to have that extra thousand dollars lying around.
― --808 542137 (Hurting 2), Friday, 12 April 2013 14:51 (eleven years ago) link
i suggest taking your money and investing it in the other commodity that mt. gox is famous for: magic cards
― 乒乓, Friday, 12 April 2013 14:52 (eleven years ago) link
What I do know, though, is that I've watched penny stocks do the hockey stick thing a hundred times and thought to myself "this went up 10000% in one day, all the attention will make it go up even more as money pours in!" and then it crashes. I lost a small amount of money this way once.
― --808 542137 (Hurting 2), Friday, 12 April 2013 14:52 (eleven years ago) link
might as well just go to a casino and put the money on red
― lag∞n, Friday, 12 April 2013 14:54 (eleven years ago) link
the benefit of this approach is you can play w/ your investment every day
― iatee, Friday, 12 April 2013 14:56 (eleven years ago) link
what are bitcoins useful for, besides buying drugs on the internet with
― 乒乓, Friday, 12 April 2013 14:56 (eleven years ago) link
xp Basically agree, except in the casino you know your exact odds and how bad they suck. With a bubble you actually have no idea what the odds are in most cases, you're just firing in the dark.
― --808 542137 (Hurting 2), Friday, 12 April 2013 14:57 (eleven years ago) link