The Everything Bearish Thread

[ahpku]

Die, Bankster, Die!
"Banks won't even help us drive them out of business! It's like they don't even care how we feel! They act like they don't owe us nothing, which they totally do!"--Australian bitcoiner who, predictably, requested to remain anonymous [the coward that he is --ed].

Australia’s banks have ended all financial support and abruptly closed down the bank accounts of at least 17 Australian Bitcoin companies, including Australian Digital Currency Criminal Association Chairman Ron Tucker's. The ADCCA strongly believes that the banks owe an explanation and a clear justification behind the “debanking” of the companies. Currently, all Australian major banks have terminated banking support for Bitcoin companies.

“Our members have said the banks have been remarkably unwilling to provide explanations for ceasing to provide services for ADCCA members. Our members, some of whom may end up being partners with or competitors to the banks in the future, are currently at the mercy of established financial institutions. At the very least I think our members are owed an honest explanation of why they are being debanked,” Tucker said.

Perhaps this might shed some light on the matter?

Bitcoin Criminals Target Australian Financial Sector
Banks Respond: GTFO Scumbags!

Australian executives in the traditional finance are starting to get a bad taste in their mouths concerning Bitcoin. It seems that cyber-attacks involving digital currency ransoms are on the rise in the Aussie region, and banks are taking them seriously. On September 21, 2015, Australian banks sent letters to 17 native Bitcoin companies explaining that they would be terminating the companies’ bank accounts. The news came unexpectedly, and the banks gave no reasoning to why they sent these letters. We now know.

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[ahpku]

From our bullish sister thread:

News URL : http://bitcoinist.net/bitcoin-superior-cashless-systems-used-today/
TL;DR: Bitcoin businesses [buzzword filler] offer high-tech security far superior to the traditional banking methods of today.

Uh huh...

Bitcoin payments processor BitPay Inc. is the latest victim in a series of massive hacking scandals that have rocked the cryptocurrency community. The Atlanta-based Bitpay was hacked on three separate occasions in December of 2014. More than 5,000 bitcoins were stolen. Subsequent to this, BitPay sent a claim to its insurer Massachusetts Bay Insurance Company, and the latter declined to pay. The matter is now in court.

How did these criminal fiends bypass BitPay's 'high-tech security far superior to the traditional banking methods of today'?
Well, by offering CTO some concert tickets, and, subsequently, by asking the CEO to send them millions via email.

-Hello, CEO? It's me, CTO! Listen, need you to send some coin to this addy double quick, no time to explain!
-No prob, CTO, you're a standup guy, how much, bro?
-A million dollars.
-A million dollars?!
-What? It's not for me, it's for a client.
-Dunno, CTO, seems like alotta money...
-OK ok, how about 500K and we'll take it from there? Just hurry up, K?

*cough*

[tokeweed]

Someone call the CEO of Bitcoin and ask why all those bearish news lately.

lol'd

[ahpku]

Before The Fiddlers Have Fled: CCN is Looking for a New Strategic Owner
After two years in the trenches, the leading cryptocurrency news outlet CryptoCoinsNews is searching for an exit strategy 'a new strategic owner.'

With the current strategic owner unavailable for comment, your intrepid reporter ahpku, unschooled in the ways of high finance, sets out to learn just WTF a 'strategic owner' is.

Do you know, dear Reader?  I bet you don't! What if you're an SBO and don't even know it? Many people are, you know!
Take this exciting quiz & find out!
Quiz provided courtesy of The Growth Coach^Ⓡ Driving Success. Balancing Life™

Strategic Business Owners do:
(answer 1 for yes, 2 for no; add your answer to the previous sum, you may use pencil and paper.)

1    Have the mentality of an “I’ll do it myself” martyr 2    Embrace the critical word “leverage” 3    Dictate or scream 4    Leverage marketing and others’ talents 5    Expect to be a jack-of-all trades 6    Consider themselves workaholics 7    Achieve greater results with less time and effort 8    See themselves as a hands-on technician 9    Operate as control freaks 10    Work smarter, not harder 11    Work more effectively, productively, and strategically _____________________________________________________

12    Focus on the entire business 13    Focus only on the technical work of the business 14    Use only a time management system 15    Micromanage 16    Lead effectively 17    Develop business plans and procedures 18    Trust in their people and systems 19    Have a strategic mindset 20    Focus only on the technical work of the business 21    Use only a time management system 22    Utilize a priority management system _____________________________________________________

Answer [SPOILER, NO PEEKING!]:
If your answered 33, you may be an SBO!  There's also a chance that you're not, and simply got a few of the answers wrong, because that would do it too. Or you can't do basic math amd just messed up on addition, who knows? The point I'm trying to make here is if you didn't answer 33, you're not an SBO, and CCN ain't for you. Or maybe it is, but not because you're an SBO. Now that I think about it, there must've been a better, terser way of saying this thing that I was trying to... Anyhow, 33 is the correct answer, and all other answers are wrong.
Also: absolutely nothing happening in bitcoinosphere, nothing. Might as well try to improve your quiz score.

[ahpku]

From our sister thread:

News URL : https://www.reddit.com/r/Bitcoin/comments/3ni092/how_bitcoin_could_save_the_web/

How Bitcoin could save the web
[With 21 Inc Bitcoin computer], micropayments become possible. Perhaps this will be the saviour of the ad-supported web. ...
Perhaps that 2 cent micropayment actually costs 3 cents in electricity...would you care or even notice?

Entertaining the goofy premise that 'ad-supported web' ain't working just fine and somehow needs to be saved:
If 21 gizmo preforms as advertised, it will mine $0.105 per day.  A dime's worth of micropayments per diem ain't nothin' to sneeze at ...or is it? Sending that dime you've spent a day mining ain't free -- the tx fee, remember?

Find out more about 21 Inc Disruptive Device at CNN, a leading cryptocurrency news source (which is also for sale).

[Chef Ramsay]

[ahpku]

Federal Investigations of Cryptsy Underway

Multiple agencies, including the Securities and Exchange Commission, the Internal Revenue Service, and the Criminal Investigation Division of the Internal Revenue Service, among others, learn of yet another cryptocurrency exchange engaging in 'failure to report gains appropriately, market manipulation, the sale of unlicensed securities, money laundering, and more."
Belize-registered Cryptsy International, managed by Project Investors, Inc out of Suite 101 Delray Beach, FL, purports to focus on the 'exchange of Crypto-Currency commonly known as “BitCoin” and it's [sic] derivatives' [the other 200 'different types of crypto-currency' traded by Cryptsy --ed].

[worhiper_-_]

Used a bitcoin ATM for first time. Was longest, most invasive, and ultimately failed experience ever.


https://www.reddit.com/r/Bitcoin/comments/3nj2zb/used_a_bitcoin_atm_for_first_time_was_longest/


Some shady bitcoin operators are demanding users to input too much personal info according to this poster. Maybe ATM installations aren't the best way to increase adoption.

[ahpku]

Australian Banks Boot 'Bitcoin Business'; [Real] Businesses Ditch Bitcoin

"The development is a blow to bitcoin’s chances of becoming a mainstream currency since Australia was considered one of its most promising bitcoin markets. Australia is estimated to hold 7 percent of bitcoin’s $3.5 billion global value, a sizeable figure in a country of just 24 million people."

[ahpku]

Ukraine's National Bank Issues Bitcoin Warning

"Ukraine's National Bank has warned against the associated risks that come with digital currencies such as bitcoin.

A statement from the bank ... said it should not be held liable for any losses incurred by consumers using digital currencies to settle transactions.

Instead, it urged banks, consumers and payment organisations to use approved payment systems [i.e. 'real money' --ed] that guarantee consumer protection."

[ahpku]

Twisted Math Teacher Tries To Lure Tykes Into Bitcoin
Sick predator offers children $5 in bitcoin [to hook 'em on Dark Web drugs, no doubt --ed] Kids too smart; fiend finds no takers. Then he tries to cover his tracks, the monster, deletes everything.

Bitcoin in the classroom (follow up) (self.Bitcoin)
submitted 23 hours ago by [deleted]
[deleted]

satoshi_pokemoto 2 points 9 hours ago
How would the kid convert it back to real money? He'd need parental help for that and if his parents were anything like mine, they'd kick his ass for getting involved in shady shit.

SealsEvolutionary2 4 points 10 hours ago
You should be fired as a teacher for pushing your ideology during a math class. Waste of taxpayer money.

[ahpku]

IBM Cooking Up Crypto 2.0 From Bitcoin's Good Bits
'You know how you buy bitcoin with money, then look for a merchant who accepts bitcoin, who, in turn, has to sell that bitcoin to get real money? Now imagine not having to do that' explained a source who declined to be identified due to lack of authorization to discuss the project in public.
News of serious blockchain research by a major corporation met with a lukewarm welcome from the bitcoin community.

"When somebody wants to transact in the system, instead of you trying to acquire a bitcoin, you simply say, here are some U.S. dollars," the source said. "It's sort of a bitcoin but without the bitcoin."

[ahpku]

US Government to Sell 44,000 BTC in Final Silk Road Auction

The US Marshals Service (USMS) has announced it will sell 44,341 BTC, worth approximately $10.6m at press time [but not for long --ed], in an online auction due to take place on 5th November.

[toinew]

Hey Bulltards, read this thread if you dont wanna end up like the one who sold his house for bitcoin at 600$

You'll thank me and OP later,
for now,
see you.

ps: no fud intended

[ahpku]

Europol and Interpol Partner to Fight Digital Currency
Bitcoin crooks cower as merciless chokehold of justice tightens around crypto's scrawny neck.

"According to a statement from Europol, the partnership will see coordination 'against the abuse of virtual currencies for criminal transactions and money laundering'."

[ahpku]

21 Inc Pledges Support to Bitcoin's Vanishing Nodes
As the number of full nodes continues to dwindle (12% fewer than this time last year), 21 Inc promises to pay its customers a little something extra in perpetuum; sweetening the [already alluring] prospect of mining $0.105/day with the company's $399.99 Raspberry Pi.

"As a generalization of the Bitnodes incentive scheme, you will be mining more bitcoin on a 21 Bitcoin Computer if you run it in full node mode. Think of this as the extra BTC that you earn for being a good member of the Bitcoin community."

21 Inc takes up the torch from the Bitcoin Foundation, which chose not to continue its node sponsorship due to "budget and focus considerations".

[ahpku]

Aussie Business: Bamboozled By Bitcoin
More retailers abandon bitcoin amidst accusations of empty promises, soiled reputations and nonexistent sales.

Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue.

"They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade.

An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it".

[ahpku]

73% of Finance Pros Think Blockchain Tech Can Thrive Without Bitcoin

"Nearly three-quarters of participants in the [study] believe the blockchain can be put to good use without bitcoin. This result doesn’t scream controversial. But while capital markets professionals (who make up most of our sample) are convinced, those with backgrounds in bitcoin and the blockchain are not."

[ahpku]

BitPay Creates Another Bitcoin POS Solution
BitPay, a firm best known for its inovative OPSEC protocol, has partnered with Ingenico* "to allow brick and mortar stores to accept bitcoin via its point-of-sale (POS) terminals."

While Ingenico is currently partnered with Paymium, thus already availing retailers the option of accepting bitcoin payments, credible sources claim this game-changing POS partnership is sure to prove disruptive to legacy brick-and-mortar paymentscape.

"The ICT250 POS [no, not "Piece Of Sh*t," wiseass. "Point Of Sale." --ed] now presents BitPay's executive chairman Tony Gallipi's email address, prompting the user to email Tony and ask him for a million dollars," a source close to the project said. "While not, technically, a purchase," continued our source, "which would you rather have, some stupid hat you'd probably only wear once and lose, or a million dollars? That's what makes bitcoin so cool, you never know what you'll get!"

*French payments giant with no apparent ties to that other notable Frenchman, Mark Karpeles

[ahpku]

Bitcoin Doesn’t Make Remittances Cheaper
Claims cryptonight after parting ways with top Bitcoin remittance startup Rebit.ph.

"Some of the industry has woken up to this already, and although Reddit continues to salivate over crypto-money-transfer, it’s hard to argue with the numbers actually generated by real-world use."

Who'da thunk.