bit¢oin$

http://www.sheepmarketscam.com/

like all these stories about people who have millions of dollars in bitcoins leave out the fact that its basically impossible to cash in that much

― lag∞n, Monday, December 2, 2013 10:34 PM (Yesterday) Bookmark

theres a ton of stories of ppl trying to cash out modest amounts and being stymied at every turn

http://buttcoin.org/easy

My friend and I went and contacted a buyer on localbitcoins, and met with him at lunch. The buyer was offering 600$/coin in cash according to the listing, and was willing to buy up to 25 coins.

My friend showed up, the buyer instead insisted on paying the entire amount in Amazon giftcards (50 bucks a card, and had a small plastic shopping bag just filled with gift cards).

I asked him how do we know the gift cards are activated? “Trust me”.

lmao

This is an article my friend posted. It's about 75% breathless hyped up nonsense, but the other 25% mentions some interesting possible applications of the technology.

http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/

― signed, J.P. Morgan CEO (Hurting 2), Tuesday, December 3, 2013 12:27 AM (29 minutes ago) Bookmark Flag Post Permalink

lol at that guys whole analysis of inflation and a currency w/o a central bank but especially

They overlook that the world functioned on fixed money supplies until 40 years ago (the gold standard)

is just an exceptionally goofy and misleading ron paul type thing to say

Many label it as a speculative pyramid scheme – without realizing that all government-printed money is such.

uh thats a pyramid scheme with an army and jails to you buddy (also not a pyramid scheme)

So why not just use Pounds or Dollars? One can use bitcoins as high-powered money with distinct advantages. Bitcoins, like cash, are irrevocable. Merchants don’t have to worry about shipping a good, only to have a customer void the credit card transaction and charge-back the sale.

im sure buyers are super psyched about this neat feature of no recourse whatsoever

ill stop liveblogging i hate this guy tho

hey man capitalism is the real pyramid scheme *listens to sounds of minds being blown*

yeah he has no concept of monetary policy or history (or a bunch of other things) whatsoever. Christ's birth - 1973, world on totally fixed money supply backed 100% by gold, all is well.

I still think some of the tech applications are interesting. I feel like probably what will ultimately come out of bitcoin, if anything, probably doesn't have much to do with what bitcoiners think it is right now.

feel like all his ideas are on the level of why pay someone to build a house for you when you can just build a house yrself

also seems like you're cutting out the middleman and replacing it with two middlemen (one at each end, i.e. the exchanges). I guess the goal of these people is to get to the point where you don't need to exchange it. But it's a longshot for this thing to gather enough steam to get to that point.

yeah thats obvs never gonna happen in a million years but even if it did then you have this highly unstable central bankless currency thats really more of a commodity and thus subject to wild fluctuations booms and busts etc

Silicon Valley knows a platform when it sees it, and is aflame with Bitcoin.

worst sentence ever written?

Teams of brilliant young programmers, entranced by the opportunity, are working on Exchanges

https://pbs.twimg.com/media/Bafv3-bIAAAL3ZC.jpg

UGH

the hills are alive with the sound of bitcoin

that qr code translates as "kill me"

u jelly?

je₤₤y

http://www.scmp.com/business/banking-finance/article/1371767/chinese-renminbi-dominates-global-bitcoin-trade-researchers

Feel bad for my chinese bros, they're gonna get scammed so bad

But we as a people are culturally susceptible to gambling and speculation, it's terrible

this may already be the greatest Ponzi scheme in history

Silicon Valley knows a platform when it sees it, and is aflame with Bitcoin.

worst sentence ever written?

I think you mean GREATEST SENTENCE EVER WRITTEN

otm that is what i meant

burning platform?

http://www.scmp.com/business/banking-finance/article/1371767/chinese-renminbi-dominates-global-bitcoin-trade-researchers

Feel bad for my chinese bros, they're gonna get scammed so bad

But we as a people are culturally susceptible to gambling and speculation, it's terrible

― 乒乓, Tuesday, December 3, 2013 8:14 AM Bookmark Flag Post Permalink

China is awash in new money and has a short history with capitalism and speculative investment. Scamming Americans is easy enough, but China seems like a dream for this sort of thing.

Well it's also due to the Chinese government heavily restricting what sorts of things one can invest in + being very tight with letting money leave China

read some thing speculating china is purposely not cracking down on all these ways to get money out of the country, bitcoin investment in hk real estate etc, as a way to ease into liberalizing their currency exchange policies altogether

Those bitcoin QR codes seem like they'd be ideal targets for drone strikes.

rip http://www.coindesk.com/price-crashes-china-outlaws-bitcoin-financial-institutions

I'm actually surprised the price didn't tank harder on that news.

can't the same group of people just keep the price inflated?

i'd figure stories like this would tank it harder (and there seems to be a new one every couple days):
http://techland.time.com/2013/11/12/bitcoin-online-exchange-in-czech-republic-hacked/

http://newsfeed.time.com/2013/12/05/i-bought-everything-on-my-christmas-list-with-bitcoin/

can't the same group of people just keep the price inflated?

I mean, yeah, but only by buying more and bitcoin.

http://dealbook.nytimes.com/2013/12/05/in-the-murky-world-of-bitcoin-fraud-is-quicker-than-the-law/?_r=1&

The call went out on Twitter: “For insane profits come and join the pump.”

It was an invitation to a penny stock-style pump-and-dump scheme — only this one involved Bitcoin, the soaring, slightly scary virtual currency that has beckoned and bewildered people around the world.

While such bid ’em up, sell ’em off scams are shut down in the financial markets all the time, this one and other frauds involving digital money have gone unchecked. The reason, in no small part: Government authorities do not agree on which laws apply to Bitcoin — or even on what Bitcoin is.

The person behind the recent scheme, a trader known on Twitter as Fontas, said in a secure Internet chat that he operated with little fear of a crackdown.

“For now, the lack of regulations allows everything to happen,” Fontas said in the chat, where he verified his control of the Twitter account, which has thousands of followers, but did not give his identity. He added that Bitcoin and its users would benefit when someone steps in to police this financial wild west, and would stop his schemes when they do.

#freemarket #invisiblehand

The price has dropped about 20% in the past hour.

http://bitcoin.clarkmoody.com

Mt. Gox apparently has this glitch where it throws itself into a loop

http://i.imgur.com/pbWzMKG.jpg

What an efficient market looks like imo

it's bouncing a little but people are still dumping

wonder who is long on Bitcoins on 12/6/2013 at 3:30pm EST

bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately.

https://www.youtube.com/watch?v=xU5lQsV0L6s

was down to ~600 half its original value, it recovered a lil bit but still, lol

bitcoin.txt ‏@bitcoin_txt 3m
confirmed that A.) this is about trust B.) we didn't see a bubble beforehand, we just saw gained trust expressing itself on the pricechart.

http://lamborghininewportbeach.blogspot.com/2013/12/we-just-sold-our-very-first-vehicle.html

Lol, happened 2 days before the crash

lol stupid stupid lamborghininewportbeach

For once in my life I recommend looking at the comments

http://i.imgur.com/VoWIsi3.png

http://i.imgur.com/4elWwD8.png

http://i.imgur.com/zVuql5s.png

This dude got 3+ bitcoins by begging

Remember that story of the tech entrepreneur who tried to teach a homeless man to code in NYC

We are so close to the next level of a tech entrepreneur giving homeless people bitcoin wallets to request donations online