The moderation of this forum certainly leave something to be desired.

Creating your own coin just because you think you are cool is pretty much the definition of hubris, and its very likely a lot of people will get burned very badly.

They should use Bitcoin or Litecoin.

If you dont have your coins in a local wallet that you and only you control, you actually dont own any Bitcoin.

lol, what?

Yeah, banks are really great, rah rah lets go rapists! Rape us! Rape us! Rape us! (crowd chanting)

Open your eyes dude, take off the goggles:

http://en.wikipedia.org/wiki/Fractional_reserve_banking

Or if words and numbers arent friendly to you, try this video version (28,730 likes, 826 dislikes!):

https://www.youtube.com/watch?v=iFDe5kUUyT0

Well, Bitcoin needs to go mobile and it needs to dominate in mobile ASAP. Transactions under $100 should be instant (no confirmation needed) and we need more places to pay.

I highly doubt someone is going to attempt a double spend to buy dinner or a new pair of shoes at retail, and the easy way around this is to simply

1) Ask for ID when you pay like a CC

2) Just take a photo/video of the person

3) Wait for 1 confirmation (10mins)

But if Bitcoin doesnt dominate in mobile, it wont have a chance going forward as people use paper currency less and less.

OP, you make me sad. You dont "get it." Bitcoin isnt just a financial tool, it has profound political and philosophical implications as well, which you fail to appreciate.

We dont care that you dont see the value - we do. So just leave: sell your coins, and dont come to this site again. I would personally appreciate it. Thanks

This is going through the walls of my apt via the power lines, into some crusty old linksys router about 50' away. But upload is OK still, and hey at least Im not on wifi  

This isnt a topic for this subforum.

I dont think there is such a thing as a zero risk investment, but BTCjam is at the higher end of the risk spectrum, by any measure - and probably by an order of magnitude.

Anytime you use any electronic device that is connected to the internet or a cell phone tower at any time ever, operate with the assumption that anything on the device is no longer private.

The mining situation is excruciatingly tight right now, the margins are gone for everyone except the hardware manufacturers who are receiving chips from the foundry and assembling the ASICs themselves.

Litecoin as well which just hit 1 Petahash - an unthinkable amount 1 year ago. Its pretty simple - if you arent the one ordering the wafers, you arent in the mining business, you are hobby mining.

Price isnt related to anything else other than adoption, if the adoption rate is mostly flat the price mostly stays in a range slightly above the cost of mining it. If people arent increasingly using BTC then the price goes flat/down, and miners leave the game as they get squeezed out with razor thin margins, which is what we are seeing now - all the small players and weak hands being forced out of Bitcoin.

The more people who use BTC and LTC, the more useful and therefore more valuable they become. A lot of people who were just in it to make some quick cash mining got seriously burned, and in my view having this group out of Bitcoin is for the best, the sooner the better. The miners who really care about crypto arent in it for purely financial motives and they wont be going anywhere, but I would imagine there is a lot of liquidation and consolidation among mining firms going on currently - maybe even with our friends at Eclipse? ;-)

Sue Minersource for what exactly? Im pretty hes even more screwed than everybody else, cause it was this guy's main business. He will likely be declaring bankruptcy, at least we can just write it off.

In other news, Black Arrow responded to an email yesterday saying they cant ship my miner because they had to recall the power supplies, which I am aware of, but does anybody know if I just ask to receive it without a power supply installed will they ship to me as is?

Its an expensive paperweight, a novelty item which Im planning on keeping as a testament to my own hubris.

They have Android, which is the biggest threat to Apple (and Microsoft as well, who will be a shell of themselves in 20 years as Windows fades out of popularity and a Free OS like Linux/Android take over and all apps are hosted on the cloud)

This was just a number that somebody pulled out of their ass. How they arrived at that number is anybodys guess.

Its all based on how many people actually USE IT. If people dont USE IT, and there are few goods/services to buy, and obtaining BTC is difficult - then even if the coins are $25k each, Bitcoin isnt really valuable.

Sure, having a $25k coin would be nice but its unlikely unless Bitcoin is able to really change the world. The ideas embodied in Bitcoin - decentralized, peer-to-peer based consensus mechanism, can be applied to a variety of fields which are only now begining to come to light. If those applications pan out, the seeds of Bitcoin could result in a totally open internet, decentralized corporations and governments - exponential efficiency gains. Its use as a currency/payment method is only the beginning.

Bitcoins Fair Value is directly related to how many people are actively using it, not the price.

No, sadly. It all has to come crashing down.

Late stage capitalism, combined with mass fiat printing and a healthy dose of hubris isnt pretty.

If most of the 1% started to donate 5% of their income to improving education and technology/engineering research for the next generation, we might have a fighting chance.

Or if we didnt spend most of our tax money on a vast military that we have to create wars to use, and spend it on notoriously wasteful health care, and instead spent it on infrastructure and biotech/medical research.

We might have a shot.

But the reality is most Americans are totally self absorbed. Either through choosing ignorance (If you hate 'Merica, just leave) or people who care but get caught up in the day to day reality of having a full time job, a wife, 2 kids, mortgage... most Americans are so busy hustling to put food on the table and pay all the bills, they have no time or mental energy to seriously consider who to vote for or even more importantly how to change the entire democratic process which has been completely corrupted by lobbying.

So because most Americans are asleep at the wheel, willfully oblivious, or too busy with their own lives to actually understand these issues, let alone attempt to solve them, I think its going to get much worse before it gets better.

Price doesnt matter, acceptance does. Period. We are in the "bit" era where now services and products are sold for fractions of a BTC.

How much you pay for your bits doesnt really matter if you plan on spending them quickly.

USD/BTC only affects people who buy and hold, and hoarders who dont spend at all, ever arent helping BTC price - hoarding hurts the price.

When everyone and their grandmother is buying and selling stuff with BTC, it will rise against fiat. If we all just buy, hold, and pray, this ship isnt leaving its dock - let alone going the moon.

Looks like you are in the right business then!

This is a great point, and dont forget that for people to spend bitcoins, they have to buy or earn them first. Very very few people have 100+ coins, and those that do will likely hold longterm and spend slowly.

How, are you losing your coins? Dont really care about the USD value so much as seeing more places/ways to use BTC.

Dollars are great for spending, and at these prices my "wealth" is increasing as I buy more coins. Saving dollars seems pointless to me, have you looked at interest rates lately?

This is comedy. Suckers trying to make a quick easy buck got hustled, cant say I have an ounce of sympathy.

As smart as Karpeles is, he highly overestimated his own ability. I dont think he did anything criminal (gross negligence is a slippery slope - so maybe) but his failure to acknowledge his own incompetence and responsibility in this matter is disheartening.

If he just came out and said, "hey, my bad" I could at least respect that a little bit. He says hes disappointed no reporter ever asks him "How are YOU doing?"

Nobody cares about you Mark, because you just wont take responsibility for a disaster which you allowed to occur through your incompetence.

Playing the victim is easy. Taking responsibility is hard, and because hes never done that, I cant ever respect him.