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tl;dr - People are starting to use less regulated non-government backed means of exchange, we're scurred, and somebody should do something about it.
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Somebody is definitively putting an end to this rally. Begin correction phase.
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That fizzled out quickly.
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I was a momentary trillionaire.
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Sorry everyone. That's it. No more bitcoins for sell.  |
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The first-linked article tries to be negative when, in fact, all the stats he presents are a huge positive. By definition, when you're a "very tiny little piece of a very big pie" (to use his words) then the only way to go is up. He therefore makes a compelling case for growth in market share for Silk Road and, by extension, Bitcoin. The exact same style "takedown" could've been written 15 years ago, replacing "Silk Road" by "Amazon" and "drugs" by "consumer goods".
+1. |
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This is what the plaintiffs are asking for: 1) for the return of all monies in the accounts of Plaintiffs;
2) for all other general, special, incidental and consequential damages;
3) for attorney's fees, as alleged int the causes of action above;
4) for exemplary and punitive damages, as alleged int the causes of action above;
5) for prejudgment and post-judgement interest to the full extend permitted by law;
6) for costs of suit incurred by Plaintiffs herein; and
7) for such other and further relief as the Court may deem just and proper So basically 100% reimbursement + reimbursement of all legal costs + interest + damages + other relief Since the plaintiffs represent only 4 out of the approx. 5000 Customers. How will this affect the other claimants if they are successful? Basically, if you're not one of these 4, and you haven't already gotten something back, then you're not going to get anything back, ever. The good news is that this is closure for everyone else waiting around for their bitcoins/USD. |
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I knew my odds of getting any of the 150+ bitcoins I had in bitcoinica (just sitting there, not in any position) were always low and ever decreasing, but I'm assuming this lawsuit means that the chances of me getting any of that back have dropped to essentially zero. That was a lot easier to shrug off when they were trading for $4.something a pop.
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I'm afalamala on Steam. I added you (smokemonster).
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Study: Online marketplace Silk Road sells £1m worth of drugs each month Olivia Solon 2012-08-06 http://www.wired.co.uk/news/archive/2012-08/06/silk-road-drugs... The research discovered that there was a very tight coupling between the Silk Road and Bitcoin market, saying that "daily sales on Silk Road correspond to almost 20 percent fo the average daily volume of US dollar to Bitcoin exchanges on Mt.Gox. As a result, a potentially effective intervention policy would be to destabilise the value of the Bitcoin, creating instability in the market.... LOL! Good thinkin. I can't wait to see what a destabilized bitcoin looks like. You know, cuz it's been really stable since Silk Road started. |
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I can't wait for us to surpass the old highs - if only to stop the idiot "bubble-heads" that come crawling out of the woodwork every time we advance in valuation.
You're going to be waiting for looooooooooong time. |
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Why Bitcoin is a better choice as a currency for Americans than gold, or why Bitcoin's future can be shaped by how US lawmakers react to it.
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Why does anyone want 20000 bitcoins? What can you do with them that is worth that much money? If I had 20000 bitcoins I would sell them for dollars which and pay some bills.
Maybe he's going to buy 20000 bitcoins then sell them for dollars and pay some bills. |
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Anyone have any of those special 5 round 12.7x99mm NATO mags for the AS50? I can't find any.
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It's about time. We're probably headed for the 8s, at least.
You meant 8 cents?  Of course. |
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It's about time. We're probably headed for the 8s, at least.
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It's likely a short term bubble.. this is suppose to happen, when the price pendulum swings it always overshoots, right now it's overshooting to the upside. Once people realize they've got enough BTC and start selling the pendulum will change course and swing back to the lower price direction and overshoot again as the bubble pops.
Yes but the overshoot is going to exceed the previous highs by more than anyone can imagine before coming back to test 32. This makes me confident that we're already at or near the top. |
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Ugh, this is the most depressing hack ever. Zhou, I don't trust you, but I really do hope you're doing ok. Same for Amir. I'd love to get those coins back, but I've discounted it for my own sanity and largely have ignored this thing for the past several weeks. I've already said this a bunch of times before, but what this whole experience has driven home to me is the value of controlling my bitcoins. And so the majority of them sit safely in offline wallets. At the very least, thanks for really teaching me that they're not my bitcoins if I can't control them.
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