Bitcoin got f@#$d up by hack…
http://www.bloomberg.com/news/articles/2016-08-11/bitcoin-hack-upends-world-of-700-yields
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-yaywork gold is shiny af. beauty has value.
rofl ppl who are bitcoin lovers are so funny. i have a buddy who made 200k off this shit. he talks about so much its annoying af. its pretty funny though. he isnt college educated. and when he talks about how solid it is. he says shits like. i bought it at 400. now its at 900. i will sell it at 2000.
bottomline is. why would i use bitcoin. when i have a cc or paypal. the only reason anyone buys this shit is speculation. if u say otherwise. ur kidding urself.
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^ lower fees than any other payment processor. Its used a lot in countries with no stable govt as well
Its not like im gung ho btc, I just know enough about it to not kick it to the side like most everyone else. I dont hold any btc
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PA - Bitcoin was not hacked, a bitcoin exchange was hacked.
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Wish I had a bitcoin for every time he exposed his arrogance. What’s the current mining cost of a bitcoin? I know it varies quite a bit depending on location. The china hydro mines are a fascinating story. And I’ve read Iceland has really low mining costs as well.
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Not sure on the specs of mining currently. I know if you arent running a custom set up you arent going to be profitable and the days of mining via your personal GPU on its downtime are long gone. I have read about some extensive mining set ups in China but the idea of using hydro is next level, thats brilliant
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You probably mean “ignorance”, I don’t know nor care about bitcoin, thus I am ignorant (by choice). Seems like a pretty good choice, since like a trillion bit-whatevers just vanished into the cyber.
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Nope. There you go again. We are all ignorant, you more so than most for sure. Certainly on the bottom of the totem pole when it comes to AF posters on every subject except maybe the evolution of intelligence. Arrogance is the term I meant to use.
Your bitcoin comment is ignorant. It is the equivalent of saying “the c-notes got messed up by the burglary.” But arrogance is why your level of ignorance will never change.
Arrogance:
The act or habit of making undue claims in an overbearing manner;
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LOL, okay thanks for clearing that up. I do agree that is sound logic.
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you’d be bitcoin loaded
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Naw, because it would have all “vanished on an exchange”, or whatever.
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I lucked out as I was in need of a small amount of btc recently and was looking to get signed up somewhere to grab a bit. Bitfinex had fantastic reviews but was not allowed to take customers from NY so I went with another option, so that was a nice bit of luck. Some regulation saving people in NY from having to take a loss on some coins (not that I would keep any in a wallet at an exchange anyway)
Also, it wasnt all of the btc at the exchange it was a portion and last I heard they were spreading losses across all customers and attempting to get financing to make everyone whole. Apparently an issue has to do with the fact that they are now regulated by the CFTC and they were not allowed to keep all coins in cold (offline) storage which is the most secure storage.
I find all these cyber crimes to be very interesting as they are on such an advanced level using current technology its just amazing to read about. I am a bit shocked bitcoin itself still hasnt been hacked to be honest
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I’m by no means a hacker or really know anything about coding/engineering/programing…whatever. But, I have read a lot about bitcoin and from what I understand, it’s not really possible to straight-up hack bitcoins. That’s why exchanges have been targeted.
I suppose the analogy would be with real money you can rob a bank or try to counterfeit your own. With btc you can only rob the bank since every new btc key is published publicly you can’t create your own out of thin air.
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Very true, guess I didnt think about it in that way. Still though it seems like somehow it must be possible to produce fake “coins” that the network propagates or something? This is totally out my ass and I have no clue what I am talking about. The people who created bitcoin did a pretty great job coding it and thinking of pitfalls (that itself is pretty impressive) and seeing all these new reports of malware that have been on computers undetected for years just makes you wonder what the future is going to look like.
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^I think the brilliance of btc is both the complete transparency and total anonymity of it all. That’s an impressive combo.
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indeed, which is why block chain technology is being adapted elsewhere for it’s “anti hacker” “anti corruptible” capabilities.
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Agreed with both of you guys. Although i will say about 75% at least of the current “block chain” products are a complete joke and they are just getting funding because its the new cool thing you have to be in on. They also seem to want to be using their own proprietary block chain so they can cement a dominant market position which doesnt seem to be catching on much based on my limited readings on the topic
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BTC price shoots up, would be lovely to have the capital to short this til it drops back. Price loves to shoot up and lose a lot of people money.
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^Can you even short btc?
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Yea there are some exchanges which allow it i believe, there are also derivitives (options/futures) for btc last i heard as well. Not sure what kind of borrow/liquidity you would get on those but thats another story
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