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fergalish (OP)
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October 07, 2012, 02:28:20 PM |
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Seems that every second week there's another bitcoin scandal - pirateat40, bitcoinica, now glbse. Is it never going to end?
So I have some advice for everyone. Now, one of bitcoin's great advantages is, it's like cash because transactions cannot be reversed, it's (not really) anonymous, it's fungible blah blah blah.
So, if it's like cash, then treat it like cash.
What I mean is, if some dude approaches you on the street and asks for a $100 loan with 5% compounding monthly, would you give it to him?
So, whatever investment interests you, think first "Would I put cash in an envelope and mail it to their untraceable anonymous PO box?"
And before you tell me about trust ratings, well, just don't bother.
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Ivica
Full Member
 Offline
Activity: 218
Merit: 100
Firstbits: 19e3fc
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October 07, 2012, 02:29:55 PM |
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 It's never enough drama here. Never gets boring either. |
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Gavin Andresen
Legendary
Offline
Activity: 1652
Merit: 2216
Chief Scientist
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October 07, 2012, 03:02:35 PM |
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What I mean is, if some dude approaches you on the street and asks for a $100 loan with 5% compounding monthly, would you give it to him?
So, whatever investment interests you, think first "Would I put cash in an envelope and mail it to their untraceable anonymous PO box?"
+1 I still hope the Bitcoin world will be boring in 4 or 5 years, but I expect lots more chaos and drama until at least then. This is what innovation looks like-- lots of failures and a few spectacular successes. It is still WAY too early to tell what will be successful long-term. |
How often do you get the chance to work on a potentially world-changing project?
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Graet
VIP
Legendary
Offline
Activity: 980
Merit: 1001
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October 07, 2012, 03:04:17 PM |
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the resilient will inherit the Bitcoin!
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ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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October 07, 2012, 03:05:19 PM |
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What I mean is, if some dude approaches you on the street and asks for a $100 loan with 5% compounding monthly, would you give it to him?
So, whatever investment interests you, think first "Would I put cash in an envelope and mail it to their untraceable anonymous PO box?"
+1 I still hope the Bitcoin world will be boring in 4 or 5 years, but I expect lots more chaos and drama until at least then. This is what innovation looks like-- lots of failures and a few spectacular successes. It is still WAY too early to tell what will be successful long-term. Well, the problem is there is something more to it.... The way these things blow up it is highly suspicious that these "failures" are done purposefully. |
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Come-from-Beyond
Legendary
Offline
Activity: 2142
Merit: 1009
Newbie
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October 07, 2012, 03:48:45 PM |
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Is it never going to end?
Our mistakes are essential part of our experience. The day when it ends will be the last day of the mankind. |
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hazek
Legendary
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Activity: 1078
Merit: 1002
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October 07, 2012, 03:49:36 PM |
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What I mean is, if some dude approaches you on the street and asks for a $100 loan with 5% compounding monthly, would you give it to him?
So, whatever investment interests you, think first "Would I put cash in an envelope and mail it to their untraceable anonymous PO box?"
+1 I still hope the Bitcoin world will be boring in 4 or 5 years, but I expect lots more chaos and drama until at least then. This is what innovation looks like-- lots of failures and a few spectacular successes. It is still WAY too early to tell what will be successful long-term. Not to mention all the bad habits and beliefs people brainwashed in public schools and by government propaganda have been used to hold their entire life. It's going to take some time and a lot of harsh lessons before people learn and readjust. And I can't wait for the result of this! |
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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franky1
Legendary
Offline
Activity: 4214
Merit: 4475
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October 07, 2012, 04:04:41 PM |
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my rule for trading is, if someone asks u for money and makes very nice promises.. just think.. can u meet them face to face and slap them if things go wrong. the answer to that question is the answer to, do you invest.
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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dancupid
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October 07, 2012, 04:24:12 PM |
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Most business start-ups fail - if every time a business that accepts bitcoin fails and we think it's the end for bitcoin, then we are going to depressed for the rest of our lives.
For every success story their will be 100 failures.
Bitcoin's success is not dependent on every bitcoin business being successful.
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kwoody
Sr. Member
Offline
Activity: 454
Merit: 250
Technology and Women. Amazing.
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October 07, 2012, 07:50:51 PM |
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It is human nature to learn from mistakes, be they yours or somebody elses.
Remember, "If it sounds too good to be true, it probably isn't."
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auzaar
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October 08, 2012, 12:57:09 AM |
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I agree very profound, wise and original thoughts here.
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mobile4ever
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October 08, 2012, 04:30:45 AM |
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The way these things blow up it is highly suspicious that these "failures" are done purposefully.
If it is or it isnt, websites are not the place to store multiple bitcoin accounts. They become huge banks and likely targets. The bitcoin markets should spread them out ( the BTC ) over other places. |
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giszmo
Legendary
Offline
Activity: 1862
Merit: 1105
WalletScrutiny.com
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October 08, 2012, 05:01:48 AM |
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Bitcoin is backed by drama.
A hopefully exponentially growing user base will keep the drama/educated ratio at least constant. Absolute numbers in businesses and under-educated bitcoin users grows but this has to compete with ever more questions bitcoin businesses get asked by the fast growing group of educated users.
If drama disappears we can safely assume that bitcoin stopped growing.
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| ɃɃWalletScrutiny.com | Is your wallet secure?(Methodology)
WalletScrutiny checks if wallet builds are reproducible, a precondition for code audits to be of value. | ɃɃ |
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Sitarow
Legendary
Offline
Activity: 1792
Merit: 1047
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October 08, 2012, 05:55:55 AM |
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Bitcoin is backed by drama.
A hopefully exponentially growing user base will keep the drama/educated ratio at least constant. Absolute numbers in businesses and under-educated bitcoin users grows but this has to compete with ever more questions bitcoin businesses get asked by the fast growing group of educated users.
If drama disappears we can safely assume that bitcoin stopped growing.
well I would not go that far but Drama can be fun for some. A distraction from the real issues for others. |
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The_Duke
Sr. Member
Offline
Activity: 252
Merit: 250
Lead Core BitKitty Developer
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October 08, 2012, 07:20:19 AM |
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What I mean is, if some dude approaches you on the street and asks for a $100 loan with 5% compounding monthly, would you give it to him?
So, whatever investment interests you, think first "Would I put cash in an envelope and mail it to their untraceable anonymous PO box?"
+1 I still hope the Bitcoin world will be boring in 4 or 5 years, but I expect lots more chaos and drama until at least then. This is what innovation looks like-- lots of failures and a few spectacular successes. It is still WAY too early to tell what will be successful long-term. So what about this announcement that would bring so much stability to bitcoin? Did you mean to say "an announcement that will bring stability to bitcoin in 4 to 5 years"? |
NOT a member of the so called ''Bitcoin Foundation''. Choose Independence!
Donate to the BitKitty Foundation instead! -> 1Fd4yLneGmxRHnPi6WCMC2hAMzaWvDePF9 <-
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Remember remember the 5th of November
Legendary
Offline
Activity: 1862
Merit: 1011
Reverse engineer from time to time
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October 08, 2012, 06:45:50 PM |
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Bitcoin websites and services are just prone to hacks/attacks.
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BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
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finkleshnorts
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October 08, 2012, 08:27:31 PM |
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Hmm... I'm so glad I have all of my bitcoins "under a matress" right now. In times like these, I really do wonder about the future of bitcoin. When people ask me "what can you buy with bitcoins?", I'm not really sure what to say anymore, because I don't really trust anyone enough to buy anything with bitcoins. I'd rather buy items with paypal, and sell items for bitcoin. And I will settle for selling items for paypal.
Has the bootstrapping of the bitcoin economy hit an insurmountable wall?
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MaxSan
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October 08, 2012, 08:54:52 PM |
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Bitcoin is more of a F2F currency. Highly effective for trusted businesses.
P2P doesnt work so guy due to you not knowing who your sending your money to...
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giszmo
Legendary
Offline
Activity: 1862
Merit: 1105
WalletScrutiny.com
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October 08, 2012, 08:59:35 PM |
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Hmm... I'm so glad I have all of my bitcoins "under a matress" right now. In times like these, I really do wonder about the future of bitcoin. When people ask me "what can you buy with bitcoins?", I'm not really sure what to say anymore, because I don't really trust anyone enough to buy anything with bitcoins. I'd rather buy items with paypal, and sell items for bitcoin. And I will settle for selling items for paypal.
Has the bootstrapping of the bitcoin economy hit an insurmountable wall?
Oh come on! There is tons of stuff you can use it for where you instantly get your product. The only problem is with sites that hold huge amounts in escrow. |
| ɃɃWalletScrutiny.com | Is your wallet secure?(Methodology)
WalletScrutiny checks if wallet builds are reproducible, a precondition for code audits to be of value. | ɃɃ |
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Frequency
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October 08, 2012, 09:28:24 PM |
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Seems that every second week there's another bitcoin scandal - pirateat40, bitcoinica, now glbse. Is it never going to end?
So I have some advice for everyone. Now, one of bitcoin's great advantages is, it's like cash because transactions cannot be reversed, it's (not really) anonymous, it's fungible blah blah blah.
So, if it's like cash, then treat it like cash.
What I mean is, if some dude approaches you on the street and asks for a $100 loan with 5% compounding monthly, would you give it to him?
So, whatever investment interests you, think first "Would I put cash in an envelope and mail it to their untraceable anonymous PO box?"
And before you tell me about trust ratings, well, just don't bother.
It is human nature to learn from mistakes, be they yours or somebody elses.
Remember, "If it sounds too good to be true, it probably isn't."
I hope for real that the preorderd devices will get deliverd as promised.. they sound almost to good to be true also.  |
COINDER
COINDER
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