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Author Topic: 2012-08-15 TheVerge.com The Bernie Madoffs of Bitcoin? [Adrianne Jeffries]  (Read 2179 times)
Stephen Gornick
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August 15, 2012, 07:46:34 PM
Last edit: August 15, 2012, 08:07:16 PM by Stephen Gornick
 #1

The Bernie Madoffs of Bitcoin? As virtual trading heats up, promises of profits skyrocket

 - http://www.theverge.com/2012/8/15/3243200/bitcoin-ponzi-schemes-savings-and-trust

Quote
"I think any 'investment' that promises low-risk high-interest returns is almost certainly a scam. My general advice would be to avoid investing in anything that you don't understand," Mr. Andresen told The Verge in an email. "That includes Bitcoin!


But what's this all about?

Quote
The Bitcoin Project will be making a major announcement in September that should contribute some stability, he said. Still, he predicted things will continue to be exciting in the world of Bitcoin with "continued controversy and chaos."

Unichange.me

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Serge
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August 15, 2012, 09:15:00 PM
Last edit: August 16, 2012, 01:05:01 AM by Serge
 #2

This is a much more thought out article than their previous one not so long ago about SR or Bitcoinica.
Good read
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August 15, 2012, 09:16:15 PM
 #3

The Bernie Madoffs of Bitcoin? As virtual trading heats up, promises of profits skyrocket

 - http://www.theverge.com/2012/8/15/3243200/bitcoin-ponzi-schemes-savings-and-trust

Quote
"I think any 'investment' that promises low-risk high-interest returns is almost certainly a scam. My general advice would be to avoid investing in anything that you don't understand," Mr. Andresen told The Verge in an email. "That includes Bitcoin!

Since when is bitcoin low-risk high-profit?

Quote
But what's this all about?

Quote
The Bitcoin Project will be making a major announcement in September that should contribute some stability, he said. Still, he predicted things will continue to be exciting in the world of Bitcoin with "continued controversy and chaos."

Sometimes i just write random shit too.
Nothing that the 'project' can do can offer stability, that would mean it's not really a free market then i guess.

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Serge
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August 15, 2012, 09:19:20 PM
 #4

The Bernie Madoffs of Bitcoin? As virtual trading heats up, promises of profits skyrocket

 - http://www.theverge.com/2012/8/15/3243200/bitcoin-ponzi-schemes-savings-and-trust

Quote
"I think any 'investment' that promises low-risk high-interest returns is almost certainly a scam. My general advice would be to avoid investing in anything that you don't understand," Mr. Andresen told The Verge in an email. "That includes Bitcoin!

Since when is bitcoin low-risk high-profit?


That particular line isn't talking specifically about Bitcoin
unclescrooge
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August 15, 2012, 09:36:19 PM
 #5

According to the author, Gavin said:

"The Bitcoin Project will be making a major announcement in September that should contribute some stability, [Gavin] said. Still, he predicted things will continue to be exciting in the world of Bitcoin with "continued controversy and chaos.""
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August 15, 2012, 10:44:48 PM
 #6

According to the author, Gavin said:

"The Bitcoin Project will be making a major announcement in September that should contribute some stability, [Gavin] said. Still, he predicted things will continue to be exciting in the world of Bitcoin with "continued controversy and chaos.""

WTF? If Gavin will do an announcement then this will not be in the name of Bitcoin as he does not own Bitcoin to any extent. Since when does Gavin fuel speculation? Do you guys know anything about this? @Gavin maybe?
As I read this, Gavin has some personal venture going on that he considers having a huge impact? Or is this just the introduction of multi-sig? If so, why not say it? Grrr...

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unclescrooge
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August 15, 2012, 10:47:18 PM
 #7

According to the author, Gavin said:

"The Bitcoin Project will be making a major announcement in September that should contribute some stability, [Gavin] said. Still, he predicted things will continue to be exciting in the world of Bitcoin with "continued controversy and chaos.""

WTF? If Gavin will do an announcement then this will not be in the name of Bitcoin as he does not own Bitcoin to any extent. Since when does Gavin fuel speculation? Do you guys know anything about this? @Gavin maybe?
As I read this, Gavin has some personal venture going on that he considers having a huge impact? Or is this just the introduction of multi-sig? If so, why not say it? Grrr...

I am very very intrigued by this as well.

Anyone has more info on this?
unclescrooge
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August 15, 2012, 10:48:30 PM
 #8

But as long as it's not a change in the bitcoin protocole, I'm good Cheesy
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August 16, 2012, 12:24:09 AM
 #9

It's probably multi-sig as that's been sought after a while and quite a big deal overall.
And it fits roughly time wise with when it may make it into a public release.

I thought that article was quite good.
At least I didn't feel I had to roll my eyes at idiotic and presumptuous statements.

unclescrooge
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August 16, 2012, 11:12:07 AM
 #10

+1, very well researched article.
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