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201  Other / Beginners & Help / Welcome to Nakamototown! on: January 12, 2012, 06:53:36 PM
The not-quite-right reverend Satoshi Jones Nakamoto extends his open arms and welcomes you to the first day of your new life in The Bitcon!

Please enjoy the Kool-Aid, feel free to share it with your friends, family, and neighbors, we're always mining more. Ask any of the deacons for help, just avoid eye contact with them unless you actually want to be molested. Asking "What's that smell?" is discouraged as it only gets worse once you know how it's made.

Enjoy your stay and remember "The greatest thing about nothing is that it lasts forever." - From the "Thoughts of Reverend Nakamoto"
202  Other / Beginners & Help / Re: hi, could someone do a favor for me? on: January 12, 2012, 06:06:38 PM
How right does this S3052 tend to be? If you have the right following, you can make a killing by taking advantage of followers by telling them to sell and buying yourself.

Its the opposite. If you have enough "followers" you can make self fullfilling prophecies and be one step ahead of everyone else.

Both approaches are valid and older than dirt itself. Typically both will be used over the term of an operation. Making your victims thank you for it, that's a special feeling  Wink
203  Other / Beginners & Help / Re: Noob questions on: January 12, 2012, 05:54:25 PM
Just to elaborate on number 2 (the MtGox question), Bitcoin itself is not vulnerable because MtGox has nothing to do with the Bitcoin protocol. The vulnerability I see is just psychological... Quoting slush:
 
Well, *technically* it's not dangerous for p2p network, of course. But crash of MtGox (for any stupid reason like they get busted for keeping marijuana in their office?) would be the real disaster for Bitcoin project and economy. Mostly because they hold milions of bitcoins and some huge amount of dollars. Many bitcoin businesses are holding funds there. Also trust in whole concept will be shaken a LOT ("where we should keep our funds when *even MtGox* is gone?"). I believe that only few believers will remain here after such disaster scenario.

What happened to the robust nature of this decentralized network? Oops, never mind, it really isn't. Back to the drawing board  Wink
204  Other / Beginners & Help / Re: If sky was the limit - how many bitcoins would you buy? on: January 12, 2012, 05:20:20 PM
I have never bought a bitcoin and see no reason that I ever would. I have never bought The Bitcon and see no reason to start now as it steadily moves towards its inevitable conclusion of drowning in a sea of ennui.
205  Other / Beginners & Help / Re: BitTalk.TV Interview with Zhou Tong of Bitcoinica.com [Newbie-friendly thread] on: January 11, 2012, 09:21:07 PM
Great, you should solicit comments from Jonathan Lebed or Anthony Elgindy to pad out the coverage.

Great, you should solicit comments from Jonathan Lebed or Anthony Elgindy to pad out the coverage.

Lebed's input would be most interesting, he was touted as a "boy genius" of internet stocks during the bubble at the end of the last century, although it turned out he was a front for his father who was teaching him the family business of running stock promotion confidence schemes. He never learned to do anything useful with his life and continues running the same old sketchy cons for something called the National Inflation Association.

Elgindy portrayed himself as some sort of ethical crusader against scam stocks while corrupting a US FBI agent to obtain inside information on companies being investigated, at one point using such information in an attempt to extort compensation from one such company. He was always quite full of crap and willing to share it with anyone who would listen, his take on The Bitcon could be quite entertaining.

Not everyone who might recognize elements of their own work in The Bitcon is around to provide commentary. Allegations of organized crime involvement in The Bitcon brings to mind these two guys, who haven't had much to say for years:

Police Look Into Business Dealings of 2 Slain Stock Promoters - New York Times
http://www.nytimes.com/1999/10/28/nyregion/police-look-into-business-dealings-of-2-slain-stock-promoters.html

Most heartwarming quote:
"The two men, shot execution style, were found on the marble floor of the foyer of the $1.1 million home by two friends of Mr. Chalem's at 1 A.M. Tuesday. Mr. Lehmann apparently died of a single shot, while Mr. Chalem was shot several times, suggesting that he had tried to get up after being shot."

Zhou Tong evidently has a partner using the name Jon, hopefully they are staying on the right side of their financial backers, although that's something that can change pretty quickly when the operation has run its course as they always eventually do.
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