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2121  Bitcoin / Bitcoin Discussion / Re: "The Hive" a $14,000usd Bitcoin Art Piece on: January 23, 2015, 05:54:19 PM
Holy Shit? He was being dodgy about it being hand-carved etc.? If I'm not sure I can label my work as that then I don't, that's pretty disappointing and a bit alarming that I barely noticed this shit storm happening lol that's what I get for hanging out in other sections too much.
2122  Economy / Economics / Re: Who control our bitcoins? WE do!! ☆ BANK RUN ☆ on: January 23, 2015, 05:42:38 PM
The people who have done this have immediately been caught out by the Bitcoin community, the thing is, bitcoins have a hard limit of 21 million, if exchanges ever attempted to rig their trade volume to something unrealistic they would immediately get caught, especially if they're dumb enough to post up their numbers.

Be assured that people have already thought of this and are keeping an eye on things, there will be exchanges and companies that certainly try don't get me wrong, but they are very often found out, this is partly why I'm so skeptical of the Bitcoin ETF people keep ranting about for example.

How can people know if bitstamp is operating on let's say 2% fractional reserve, if they refuse to audit?

If bitstamp operate with 102% of the BTC they currently have (" only"  2% fractional reserve) they can use a monetary multiplier  of 2x, so they CAN double the money. They don't need to cash out all this money, i suppose they CAN'T cashout bitcoin, but they can in fiat, if they suppose a small fraction of deposited btc will remain offchain.

There won't be exact figures obviously, but it's easy to estimate, for instance, with mt.gox the price was going stupidly high thanks to the now nicknamed 'willy bot' ( Think I got that right ) and a bunch of people had worked out that Bitcoin's price went high because of that trading bot bumping up the price rather than it being because of any legitimate trade volume.

Also, don't forget about the blockchain, even if a company tries hard to hide it's tracks, currency can still flow from one address to another, so in the end it's just a matter of time before it's tracked down.
2123  Bitcoin / Bitcoin Discussion / Re: Bill Gates: "Bitcoin Alone Won't Solve Global Payments Challenges" on: January 23, 2015, 04:49:18 PM
Quote
“There’s a lot that bitcoin or Ripple and variants can do to make moving money between countries easier and getting fees down pretty dramatically. But bitcoin won’t be the dominant system.”

Of course Bill Gates would mention a centralised and regulated altcoin, many of the financial elite are out attacking Bitcoin's strengths and claiming it as a weakness. Don't get me wrong, I too think altcoins have a place and Bitcoin won't necessarily be dominant, but it's obvious a large number of people who say this have an agenda.
2124  Bitcoin / Bitcoin Discussion / Re: Satoshi was a speculator! on: January 23, 2015, 04:22:05 PM
It will increase as the adoption rate increases, that's how currencies work in the free market, there aren't men with guns making sure it happens.
2125  Economy / Economics / Re: Who control our bitcoins? WE do!! ☆ BANK RUN ☆ on: January 23, 2015, 04:16:26 PM
The people who have done this have immediately been caught out by the Bitcoin community, the thing is, bitcoins have a hard limit of 21 million, if exchanges ever attempted to rig their trade volume to something unrealistic they would immediately get caught, especially if they're dumb enough to post up their numbers.

Be assured that people have already thought of this and are keeping an eye on things, there will be exchanges and companies that certainly try don't get me wrong, but they are very often found out, this is partly why I'm so skeptical of the Bitcoin ETF people keep ranting about for example.
2126  Other / Off-topic / Re: How do them Big Boys protect themselves from attacks? on: January 23, 2015, 03:43:48 PM
It depends, there isn't much you can do against a coordinated attack beyond maybe getting some hackers on your side to strike back which is what I'd do, the main thing is, if you're dealing in coins a lot and have to transfer them on your website, always keep the highest percentage possible offline.

This is how bitstamp avoid a total catostrophe after getting hacked, they're back in business now because they stored the majority of their coins offline and kept a percentage online in case people wanted anything immediately, thanks to that the losses were actually fairly minimal compared to what they would have been if they were just lazy and thoughtless about their security.
2127  Other / Off-topic / Re: if you found won a $100,000 in BTC from sweepstakes how would you spend it? on: January 23, 2015, 09:59:36 AM
Invest that in lots of passive income and then use that passive income to grow my passive income and then I'll spend the profits on whatever I want.
2128  Other / Politics & Society / Re: How Facebook May Secretly Foil Your Activist Plans on: January 23, 2015, 09:56:04 AM
It's precisely because of stuff like this that we don't, social media networks are largely nothing more than databases that are used by corporations for spying, people post all their personal information on their without a second thought.
2129  Other / Politics & Society / Re: ISIS threatens to kill 2 Japanese hostages unless Tokyo pays $200 million on: January 21, 2015, 07:08:13 AM
I doubt they'll do anything at all, for all their talk about being tough on terrorism and fighting it, governments actually do very little to help their citizens in these cases, if you ever find yourself about to be taken hostage it would be better to not let yourself get taken alive, at least that's how I'd feel about it, just because once you get taken hostage that's pretty much it, no one will help you in that scenario.
2130  Other / Politics & Society / Re: New police radars can 'see' inside homes on: January 21, 2015, 06:15:26 AM
I consider it my duty as an Anarchist to royally screw with tracking technology like this, I'm sure they won't be as sophisticated as police propaganda will try to make out.
2131  Other / Off-topic / Re: Seriously, this guy needs to be severely doxed! on: January 21, 2015, 04:51:35 AM
What a bunch of annoying people, this is like hating on Top Gear as far as I'm concerned, I do think the show has gotten dull now but that's because they're running out of ideas. Also, I love her complaints about women portrayal, never ever let these kind of women have a say otherwise 99% of the time women will all be perfect and intelligent in these shows while the men will be all dumb and useless.

Fucks sake these kind of articles are just stupid and a waste of bandwidth.
2132  Other / Meta / Re: Why did you delete my thread? on: January 21, 2015, 04:00:35 AM
You mean like 90% of the threads here?


Glad I'm part of the 10%  Grin

~BCX~

A legend in your own mind. lol

Surely you can admit that at least half of the threads on this forum can be deleted without losing any content. Hell, most of them now are nothing but a rehash of crap that's been discussed to death for 6 years.

I'm inclined to agree, the necro posters especially aren't even fucking subtle about it, which is why I'm getting pretty annoyed at the amount of people complaining about having their posts deleted when they know exactly what they've done wrong.
2133  Other / Politics & Society / Re: Firearms company cuts ties with Liam Neeson over gun-control comment on: January 20, 2015, 05:30:29 PM
Never will I understand the logic of people who think it is better to deliberately render yourself completely defenceless against armed psychopaths, they're psychopaths, they don't care if you have a gun or not, they're still going to try and murder you one way or another and it doesn't matter if you put up a gun free sign or not.

but if the psycho gets a gun it is much easier for him to do so.

aslong as weapon control laws can secure that no criminal and mentally ill people get guns im all for it - but sadly it is not the case in most countries.

Psychopaths will get guns either way or they'll do what the Islamic terrorists do and just make bombs, which in actual fact are far easier and more undetectable to get than guns ever will be. I can tell you now it would probably be pretty easy for me to make enough explosives to take out the big ben here in the UK than it would be to to buy a handgun illegaly and it would to several times more damage.

All you need is the right amount of chemicals and various other ingredients ( Just to show people I'm on their side I won't post exactly what that is but it's bloody easy ) so this paranoia about guns has me absolutely fascinated. What's even more fascinating is how there are people out there who actually feel assured that a bunch of uniformed people are running around waving their guns at everybody and telling them what they can and can't do.
2134  Other / Off-topic / Re: Paypal is so stupid to use I am actually transferring my money to Bitcoin on: January 20, 2015, 05:01:37 PM
Any thing is ridiculous when compared to Bitcoin.

lol when a genuine alternative that works and just relies on addresses rather than personal information I just don't see the point in dealing in paper money anymore especially if the other person has no problem accepting Bitcoin.

There really is no point in credit cards or wire transfers now, not if you've had a proper look at what Bitcoin can do.
2135  Other / Meta / Re: As Chief of Police of the Crypto Police Department I Subpoena the forums on: January 20, 2015, 12:21:51 PM
These self-righteous and arrogant noobs are starting to get on my nerves.
2136  Other / Politics & Society / Re: Firearms company cuts ties with Liam Neeson over gun-control comment on: January 20, 2015, 12:16:35 PM
Never will I understand the logic of people who think it is better to deliberately render yourself completely defenceless against armed psychopaths, they're psychopaths, they don't care if you have a gun or not, they're still going to try and murder you one way or another and it doesn't matter if you put up a gun free sign or not.
2137  Bitcoin / Bitcoin Discussion / Re: Sucks its nearly impossible to sell tangible goods for BTC! on: January 20, 2015, 10:02:18 AM
We're not at the stage where people trust it yet and it just shows you how much of an early adopter everyone here is, when you can go to a local starbucks and get a coffee for Bitcoin and so on that's probably when Bitcoin will be considered fairly mainstream.
2138  Other / Politics & Society / Re: Finally: US Supreme Court agrees to settle gay marriage dispute on: January 19, 2015, 11:22:13 PM
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By your logic, the states have no right to impose any law that a particular group finds unfavorable. So rich people could say they aren't equal under the law because they pay higher taxes. Should pedophiles have the right to marry a child? (I am not comparing pedophiles to homosexuals, I am only comparing the legal logic). By your logic yes! If I replace "a man not being allowed to marry a man demonstrates that he is not equal with straight men under the law" with "a man not being allowed to marry a child demonstrates that he is not equal with other men under the law," the logic should extend, no?

You just did, the moment you bring peadophilia into an argument about homosexuality, you're being a fucking moron. This isn't a case of some particular group being bitchy for no reason, this is as global wide conspiracy by all religions to oppress homosexuals, it's just a fucking contract. Sure, a church can go ahead and declare that marriage between homosexuals isn't legitimate all they like, but they can't go around telling state and government what to do and yes, as someone from the UK I'm going to remind you about your own laws about seperation of church and state, we have the very same problem here where religion is constantly trying to impose it's doctrine on the rest of us.

This 'social' issue is purely an invention of religion, no one else gives a fuck save for a few homophobic cunts and it's about time they got over it and stopped being such pussies, gay marriage has been legalised already in various parts of the world. The world has not descended into chaos, peadophilia and beastality have not suddenly become legal, it's all a load of scare mongering bullshit and there is no real argument you can make against it.

If anything, I would argue that being religious is more likely to lead to peadophilia than being gay, since we all know how much Catholics like their choir boys, yes I fucking went there.
2139  Other / Politics & Society / Re: New Oxfam report says half of global wealth held by the 1% on: January 19, 2015, 10:37:55 PM
Quote


• Clamp down on tax dodging by corporations and rich individuals.

• Invest in universal, free public services such as health and education.

• Share the tax burden fairly, shifting taxation from labour and consumption towards capital and wealth.

• Introduce minimum wages and move towards a living wage for all workers.

• Introduce equal pay legislation and promote economic policies to give women a fair deal.

• Ensure adequate safety-nets for the poorest, including a minimum-income guarantee.

• Agree a global goal to tackle inequality.

I'm all for helping people but for fucks sake, the people who declare this kind of thing do not live in the real world, they've just listed goals they haven't listed a plan, how are they going to pay for all of this? Oh wait, they don't know anything about economics, they might as well have wished for a pony.

Getting rather fucking tired of people making these suggestions as if they're geniuses who just thought of it without even bothering to consider the consequences to the rest of the economy. By the way, if you ever want to beat people like this in a debate, all you have to ask is "How are you going to pay for it?" because they seem to think that government is some magical entity that can pay for anything that they want.

Oh, by the way if taxation wasn't so complicated a flat tax rate would easily solve the problem of tax dodging but that would require intelligence to implement.
2140  Bitcoin / Bitcoin Discussion / Re: Bitcoin - "Currency of Child Molesters" on: January 19, 2015, 08:20:44 PM
Quote
Oct 10, 2014 12:00 AM GMT

Guys, check the date, this isn't anything new, quite literally lol Tongue
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