Bitcoin Forum

Seriously this is getting retarded, everyone deposists some stupid amount of bitcoins based on an impossibly high "interest rate" (something that is inherently impossible in a deflationary currency such as bitcoin, doubly so since to my knowledge) and then acts surprised when all their bitcoins suspisciously vanish. This is happened like 10 times now and every time it's blamed on "hackers" although frankly the site ops could just steal all the bitcoins and nothing could be done about it.
Also stop claiming that ponzi schemes are a winning system; They're not.

Are you referring to any particular recent "ponzi" or "impossibly high interest rate" deposit account?  Or is this just yet another thread being started in response to the pirate40 Bitcoin Savings & Trust issue?  It seems like there are already enough threads discussing that issue doesn't it?

I hate to break it to you, but those kind of idiots are present everywhere. And the trustless structure of bitcoin makes it even worse, it's literally sucking them up. Somehow it has to get worse before it can get better.

Look on the bright side, the more that continues the more likely it will be for another chance for really cheap coins.

lol no, not everyone
it is costing a fortune in popcorn tho  ;D

in the real world before investors put money places they do "Due Dilligence"
most Bitcoin "investors" have never heard of Due Dilligence.

then the flipside
most Bitcoiners have never run a business
some ppl go "I can do that" not realising there is more to running / securing / growing a business than they ever thought

unsurprisingly some (many it seems) people would rather take an "easy route" and rather than start a business with the involved time and costs, would rather steal coins from other people - oh that happens in the "real world" too.

so it comes back to
dont "invest","gamble",deposit more coins than you can afford to lose in any place not in your control.

Good thing Asda is running a special discount on popcorn atm!!

They shouldn't stop. I prefer the situation when most of coins will be in hands of clever guys. Not-so-clever ones deserve to lose all their coins.

You have a point there, but the regular "ungeeked" need to accept bitcoin as well.

But after thinking about it, at the moment, having bitcoins in the hands of a few continuously foolish people is not a good idea.

Reminds me of the saying...

"Those who refuse to learn from history are doomed to repeat it."

Keep trusting all fly by night operators, keep continuing ignoring the reality. I can prromise you one thing, however, it will be much more difficult to ignore consequences of ignoring reality.

http://mgilbert.net/ostrich.jpg

Economic Darwinism is made manifest through Bitcoin.

This is what happens when a group of IT people crashes into a wall of finance people. Some of those finance people are not very nice, and some of those IT people think they know more about finance/investing than they really do. Hopefully, in the end, everyone will learn something from all this.

Currently bitcoin is not deflating, it is inflating at a much higher rate than the USD. (50 new bitcoins are added every 10 minutes)


But the scammers do not just hold onto the coins, they sell them on the open market to the next bunch of marks. Rinse and repeat.

REALLY?!?  When did the US government stop printing millions of USD every day?   ???

Millions of USD compared to trillions already out there is less than 2% a month, or about 30% a year inflation that Bitcoin is going through.