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Huh wierd because most banks offer intesterest at rates better than inflation and I can still use my money to buy things?
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Its down again, it was overloaded by people removing their monies.
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the euros been more stable than the Canadian and Australian dollar so yeah.
Stable -> artificially inflated -> easy credit -> increased government spending -> debt balooning -> default -> unstable -> black market -> new currency -> price balancing -> stable -> artificially inflated -> And so on ad infinitum... I hope you understand. It's all too obvious for us Greeks. We are in the "Debt ballooning" phase. Been through the whole cycle before quite a few times. Now Europe will see what this looks like like on a 100x scale. I would start a Bitcoin attempt here, if not for the fact that its possible failure would lead to the reinstatement of the Death penalty and public hanging for the brave soul who would do this. I have a family to take care of. This has happened too many times over again. And no, I am not a revolutionary. In fact I am probably a coward deep inside. In a society where the overwhelming majority prefers to blame someone else instead of looking in the mirror, there is no actual freedom to do anything new. Now if THAT changes, then yes, maybe Bitcoin or any other solid solution would stand a chance. care to cite your debt cycle? Becuase honestly it seems like bunk. |
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And the fact it repeatedly bounces between the two and the difficulty shifts every 2 weeks effect the price so much means it's terrible as a stable currency.
That and the weekend keeps repeatedly causing price crashes.
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Hmm yes because people who already in dire straights are going to willingly use a currency where the value can fluctuate by 20 or 30 percent in a day.
These people are losing 20 to 30 percent a day with their national currency.... at least with bitcoins they go up and down... what they got going on is just down. No they aren't? The euros been extremely stable compared to other world currencies, mainly because it's damped by it's enormous number of users and countries that use it. the fact that the country itself is bankrupt doesn't really effect the price of the euro (although they need to sort that shit out asap). Infact:  the euros been more stable than the Canadian and Australian dollar so yeah. |
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Did I hear bubble?  No you cretin, rampant speculating and its near worthlessness as a currency does not mean someone mentioned bubble. |
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I hate to break it to you all, but unfortunately, rampant speculation, the hack attacks and massive price drops have already essentially killed bitcoin from the credibility point of view. No large company will willingly use a currency if using it risks their profitability on the scale bitcoin does.
Such a volatile market also has the potential for ENORMOUS gains. People have made quite tidy sums of USD from BTC. THat wont go unnoticed by investors if it continues. Rewards require risk. When you want to accept payment in btc you don't want it to arbitarily drop in value and make you essentially sell at a loss. The only thing the volatile market encourages is more speculating, rather than actual marketplaces. |
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Hmm yes because people who already in dire straights are going to willingly use a currency where the value can fluctuate by 20 or 30 percent in a day.
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I hate to break it to you all, but unfortunately, rampant speculation, the hack attacks and massive price drops have already essentially killed bitcoin from the credibility point of view. No large company will willingly use a currency if using it risks their profitability on the scale bitcoin does.
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Force Majeure clauses literally translate as an act of god. ie, an event it is impossible to ever fully prepare for or deal with effectively. An example of this would be an earthquake, which no matter how strongly built or how earthquakeproofed a building, worksite or suchlike it is it will have huge ramifications that will effectively cancel a contract. Same with tornados, volcanic activity or tidal waves, etc.
Force Majeure does not Cover gross incompetence such as failing to correctly store data or information. The only time you could reasonably claim force majeure with respect to website operations would be if the server farm caught fire or there was a power failure for an extended period of time.
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Even more evidence that this is gonna end in a bank run when mtgox reopens and the price of btc plummets to nothing, sadly.
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Wasn't this site involved with the theft of account information and wallets? Might want to remove your link.
Nope, someone was like "hey this site doesn't like bitcoins apparantly this means they're the evil hackers END THE WITCHHUNT" |
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http://buttcoin.org/I mean it's hilarious, how can anyone take this shitheap seriously? I find it refreshing humour in todays dark times.
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actually if you'd bothered reading the standard eula for most websites it specifically tells you to use a password you do not use anywhere else. If you didn't do this it absolves mybitcoin from all liability. cya later.
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THE ONLY WAY BITCOIN WILL EVER FUNCTION AS AN ECONOMY WILL BE IF IT IS REGARDED AS A CURRENCY, RATHER THAN A VOLATILE BUBBLE COMMODITY.
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Atlas you need to accept that altruism is a natural part of human nature and trying to deny it based on the theory that a man is only worth as much as his monetary possesions is an insane standpoint to 99.9% of the population.
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I don't think bitcoin community is corrupt!!
I just think at this point it's morally bankrupt. Sorry.
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HEY GUYS THIS BAG OF MONEY FELL OFF THE BACK OF A BANK LORRY I PAID SOME SHADY GUY AT THE PUB 3000 DOLLARS FOR IT AND WHEN THE BANK TURNED UP THE NEXT DAY THEY DEMANDED IT BACK WHAT THE FUCK???
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What happened to the thread this linked to? It's gone for me.
I presume the mods didn't like a thread about using bitcoins to pay for hackers to hack a random IP with tenuous links to the mtgox hacks? It's not gonna be good rep for bitcoin if it only gets used for soliciting illicit hacking. Who was paying me to hack? I was taking it upon my self to do it. You could have donated to me if you wanted to. I could have cared less. It could also be of all the nubs who reported the thread. You guys really don't understand what bitcoins are used for. Go to the deepweb and you'll wonder what bitcoin is really used for. Hmm did I once specify in that post that I was implying people were paying you to hack? I don't think I was!! I was merely pointing out that bitcoin vigilante justice is [n]nothing but bad press[/b] especially if it ends up with someone paying someone else in bitcoins to hack this potentially innocent guy. |
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So if suddenly bitcoin clients broke and everyone gained 99999btc you'd be fine with keeping those bitcoins then right?
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