You seem vexed.

I'm actually here to open eyes from all the blind one-sided shilling and nonsensical posts that's rampant on this forum. 

BTW, I still have some BTC holdings. 

But coolstorybro.  Your agenda is pretty clear from your sig.  Self promotion is so hawt right now.

Bitcoin was viral (hysteria) when it reached its peak@$1200.  Same with Silver when it peaked at $50. Now it's just getting press for all the wrong reasons....

Was your counterpoint supposed to be some refreshing revelation? Of course fiat would be first, because it's also the most widely used and accepted form of payment worldwide.   Again, I'm referring to cyber crimes...or are we not on an internet forum?  I'd also go on to argue it's probably one of the most rampant forms of payment used in scams on a percentage basis (based on how many are out in circulation) of any other cyber payment used, for those same points I noted earlier.


I'm on here for the same reason you are.  To share ideas/discuss.  Oh, I forgot.  Anyone against your 'agenda' isn't welcome, amirite?  Nothing like a pump shiller dictatorship.

In the world of cybercrimes, it is a LOT more transparent and anonymous than using any other form of money transfer.  Fiat is a moot point in this discussion.  We're talking about cyber technology, and this is why bitcoin has become a safe haven for fraudsters and scammers alike.   Let's not live in a dream world here...about half the threads in the for sale section, large IPO'S, and loan sections are potential or already exposed scams.  Why?

Silkroad v1 and v2? lol

Because the scammer can just generate a new bitcoin address with the click of a mouse button, and get paid instantly and cash out without a single trace of information regarding their name, address, or location.    How many of the scammers on here have been caught and prosecuted? lol

And there is ZERO recourse for them scammed.  Sure, they can go on a witchhunt trying to piece together IP locations and make an educated guess...but the bitcoin blockchain isn't going to refund them.  And local authorities will laugh at them.  

It's basically a western union moneygram with much greater anonymity. At least with moneygrams, you still have to provide identification and legitimate documentation. With proxies or a shared computer, scammers can basically leave a non existent paper trail with bitcoin.


And that includes people that we trust the most (exchanges).  So basically, if you can't trust exchanges or a fellow peer on a forum (because you don't even really know who they are)...what good is bitcoin?

At least with a local bank you can choose which ones are FDIC insured and backed by the government so you can get your money back in the event of a heist.

Oh, I wasn't debating that.  In fact, I even stated in my OP that Manilla and many of its districts are filled with rich people.  However, there is a HUGE contrast between the rich and poor there, and very few 'middle' class that we have here in america.  And guess who comprises most of these 'nannies' that the original post refers to?  Yes, the dirt poor.

They have zero use for bitcoin, and the best way to help them would be to firstly give them solid shelter and food rations, and then give them free educational courses (no, not bitcoin education, but junior high school and high school educations...then college).  Bitcoin should not be a consideration in their lives.

I donate a good portion of my salary and send food to my relatives in Olongapo yearly, because they need it.  Those basic essentials are luxuries for them.

But the original post does NOT work for nannies and the low level workers (arguably slave labor for how much they make each).  The wealthy elite? Sure it's a consideration.  But the rest of the population has no use for it right now.  There are much bigger issues at hand.

irony.jpeg

Majority of its users are investors/speculators (including myself)  so I guess we all get what we deserved, amirite? 

Greed breeds more greed.

hahaha

They seriously have enough pocket money to cover a $5 million loss?  Wow, these guys really must be rolling in dough then.

Not a Ponzi scheme.  Just a technology majority used by scammers and fraudsters solely because of its anonymity and transparency.  Big difference, but the end result is essentially the same.

Oh big surprise. A Russian.

No need to panic here, folks.  I'm sure your money is 'safe.'  

That's actually the address I saw cited by an earlier user who claimed his deposit yesterday mysteriously 'vanished' to that exact address and didn't get credited to his Bitstamp account.  Definitely looks like the hacker.  

inb4 flood of ISIS/taliban/raghead comments


If this is indeed what it looks like, I think this might be the final straw for bitcoin.  It was already on life support like Terry Schiavo, but this might be the one that finally pulls the chord.

We'll see if Bitstamp will really come out of pocket for this, and if users will even have confidence to use them going forward even if they do make good on it.  Bitcoins are safe NOWHERE.

GL to all that have money in that exchange.

Then you realize none of the local shops in 3rd world countries accept bitcoin nor have the means to.    What advantage does a 40 year old nanny who doesn't know a lick of computing have to switch over to bitcoin when they're already being paid in readily usable cash?

Good god, the IQ level on this forum is astounding. 

Want to guess who's been dumping

Bitstamp CEO probably on an extended vacation in his newly acquired island mansion in Dubai.

The fact of the matter is...regardless how 'bad' this situation really is...it shows that bitcoin money is safe nowhere.  Exchanges can basically take your money and run at any instant and claim they were hacked...with no repurcussions or explicit proof.  If that isn't enough to scare away any potential future adopters, I don't know what is.

Having lost various amounts at cryptorush and coinex...hearing stories like this don't even phase me...it's just another broken record that you basically expect.



Addtionally...anyone ever notice how these exchanges just so happen to conveniently go bust right when bitcoin is experiencing huge price volatility (either good or bad).  It's like the scammers don't even really care about hiding their motives anymore, because they know they can get away scotch free.

I mean, it's great from an idealistic perspective, but most in this thread know absolutely zero about the phillippines or the exact disparity there is between the rich class and being dirt poor.   They're just looking at it from a 'hey look here's some people in a foreign country we can capitalize bitcoin on and raise our holding prices!!' 

 And by dirt poor, I'm talking burning your trash in your backyard...having a cellphone or even a 200 dollar netbook is nowhere remotely in their train of thought.

I salute you for trying to make a difference.  But man...with how corrupt the government is...it just seems like a neverending cycle of corruption and more poverty. 

lololol

Here we go again...another service bites the dust...mt gox part 2379248723897234879234. This shit will never end until it takes bitcoin down with it.  Unbelievable.

In theory, this would seem to be the case.  But in reality, the bigger corporate adoption = a shitload more coins being dumped into the market daily from companies instantly cashing in their btc's and not wanting to risk losing their ass from price volatility.

In essence, bitcoin is flawed and doomed because of this.  It's a catch 22, really.  Bitcoin was a novel idea with great 'idealistic' virtues which would work perfectly in a PERFECT world.  Unfortunately, some things just work out better on paper than in practice.

Bitcoin is now really only a haven for neckbeards, fraudsters, and investors/shorters/flippers.  And usually when you see a forum reply, you know who falls into which of the above categories.

LOL@thinking one of the poorest 3rd world southeast asian countries will adopt bitcoin, most especially elderly nannies who don't even have high school educations and don't know how to power on a computer


And this is coming from a filipino.

Outside of certain wealthy districts in Manilla...you guys are living a pipe dream.  The Phillippines and filipino people have a lot more to worry about than taking computing courses and riding a jeepney 30 minutes to a nearby internet cafe solely to jump through hurdles to download 'virtual currency.'  It's hassle enough for well versed computer nerds like myself, let alone some person living without air conditioning and sanitary water and doesn't know what a 'computer bit' is.

I'm convinced most everyone in this thread has not been to the phillippines themselves.  Then again, most of the people are on this forum are 18 years old just looking at this from a money making standpoint. 

You guys really want to be philanthropists and make a difference there? Try actually donating money to the millions of families living in wastelands without electricity in cardboard huts.

Illusions? LOL.  We're not even in the despair phase yet.  Look, hold if you want to...but facts are facts.  Bitcion is crashing and has been crashing steadily since last year, and the bottom has not been reached yet.

Hold only if you can stand to lose what you have invested.  Advising anyone to do the opposite is both shameless and irresponsible given the current market conditions.  Then again, pumpers will always be around to try and lure the fish in.

dillusional.jpeg





We're not even close to the bottom yet. This is basic economics 101.