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bit777 (OP)
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May 28, 2013, 02:18:04 AM |
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Now that Liberty Reserve got shut down, and it was a huge anonymous business, if we follow logic and all users switch to bitcoin...that will be a lot of users and a new large rise in btc price? Thoughts?
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TLS freedom
Newbie
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Activity: 39
Merit: 0
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May 28, 2013, 02:20:58 AM |
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Very likely after they get their funds out of LR if thats even possible. Since its a US govt op I'm betting not.
It will take time for people to switch and learn bitcoin.
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bit777 (OP)
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May 28, 2013, 02:26:59 AM |
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These are also all underground people, hackers, fraudsters and the like. They could draw a lot of unwanted attention and bad publicity to bitcoin.
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Stampbit
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May 28, 2013, 02:30:38 AM |
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These are also all underground people, hackers, fraudsters and the like. They could draw a lot of unwanted attention and bad publicity to bitcoin.
lol |
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str4wm4n
Legendary
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Activity: 1611
Merit: 1001
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May 28, 2013, 03:45:49 AM |
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LR GOT SHUT DOWN?!?!?!?!?!?
this is huge
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BTCLuke
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May 28, 2013, 04:08:25 AM |
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It's a very mixed blessing. On one hand that money is locked away from bitcoin, and a good percentage of those users are going to be more shy about using anything at all but fiat now.  On the other hand, a larger percentage of its' users are now forced over to bitcoin. Too bad these are most likely to be the shady folks mentioned above. However I don't mind at all that my chosen currency can be used for buying drugs and other shady stuff, because fiat cash is always going to be #1 for those industries, as it is technically more anonymous than bitcoin ever could be. Here's the Coindesk artice on the the LR takedown for those who haven't seen it: http://www.coindesk.com/liberty-reserve-exchange-shuts-down-founder-arrested/ |
Luke Parker
Bank Abolitionist
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farfiman
Legendary
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Activity: 1449
Merit: 1001
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May 28, 2013, 08:12:08 AM |
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On the other hand LR uses that have lost their money might be more wary of digital currencies and
think bitcoin is a big risk as well. Only question is if they have a better alternative.
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"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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JackH
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May 28, 2013, 09:43:38 AM |
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Looking at the topics on Talkgold it seems those people have learned nothing from the shutdown of LR. They are all happily moving to other centralized systems such as HD Money and whatever god awful payment portals there are. Honestly, I dont think they understand how Bitcoin works and why it is different. Take a look for yourself: http://www.talkgold.com/forum/f472-.html |
<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
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JackH
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May 28, 2013, 09:48:06 AM |
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Look at this thread btw: http://www.talkgold.com/forum/r391464-.html It is completely completely crazy people have 10k+ stored in a centralized, non-regulated system like that. Who in their right mind did not think this could happen? LR was the pit hole of all scam in the world and next to E-gold when it came to being seized next. Yet people did not give Bitcoin a second look, despite its properties. |
<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
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escrow.ms
Legendary
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Activity: 1274
Merit: 1004
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May 28, 2013, 09:59:20 AM |
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Look at this thread btw: http://www.talkgold.com/forum/r391464-.html It is completely completely crazy people have 10k+ stored in a centralized, non-regulated system like that. Who in their right mind did not think this could happen? LR was the pit hole of all scam in the world and next to E-gold when it came to being seized next. Yet people did not give Bitcoin a second look, despite its properties. They don't want to adopt bitcoin as their main currency because those peoples doesn't want to put their money in a non stable currency. Most of them are Forex/HYIP investors. And about LR, it was a old currency, even big companies/exchangers started using LR, that build trust between users and thousands or probably millions of peoples started using it. |
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JackH
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May 28, 2013, 10:24:28 AM |
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Look at this thread btw: http://www.talkgold.com/forum/r391464-.html It is completely completely crazy people have 10k+ stored in a centralized, non-regulated system like that. Who in their right mind did not think this could happen? LR was the pit hole of all scam in the world and next to E-gold when it came to being seized next. Yet people did not give Bitcoin a second look, despite its properties. They don't want to adopt bitcoin as their main currency because those peoples doesn't want to put their money in a non stable currency. Most of them are Forex/HYIP investors. And about LR, it was a old currency, even big companies/exchangers started using LR, that build trust between users and thousands or probably millions of peoples started using it. I think stability can be argued now that the worth of LR money is a big ZERO. Just because there is no big swings in the dollar and gold compared to Bitcoin, still does not make these payment systems secure in terms of stable money. The proof is right here in front of us. Tomorrow HD Money could be gone. Bitcoin is volatile but beats any storage medium for stability. I think most people would rather loose 10% on price instability than 100% due to confiscation. Cyprus anyone? |
<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
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escrow.ms
Legendary
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Activity: 1274
Merit: 1004
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May 28, 2013, 10:36:12 AM |
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I think stability can be argued now that the worth of LR money is a big ZERO. Just because there is no big swings in the dollar and gold compared to Bitcoin, still does not make these payment systems secure in terms of stable money. The proof is right here in front of us. Tomorrow HD Money could be gone. Bitcoin is volatile but beats any storage medium for stability. I think most people would rather loose 10% on price instability than 100% due to confiscation. Cyprus anyone?
According to them LR was backed by gold and they were not scam site, They were a secure payment system but US govt fucked them, because peoples were using it for money laundering,drugs,porn and other illegal things, like bitcoin is getting used now. |
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herzmeister
Legendary
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Activity: 1764
Merit: 1007
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May 28, 2013, 03:59:57 PM |
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Bitcoin can never be instant exchange.
Who wants you to wait 2 days?  |
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cdog
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May 28, 2013, 08:39:02 PM |
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Bitcoins are the last bastion of true financial freedom
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escrow.ms
Legendary
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Activity: 1274
Merit: 1004
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May 28, 2013, 09:47:28 PM |
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stick_theman
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May 28, 2013, 10:02:54 PM |
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Some body lost a lot of money?  |
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escrow.ms
Legendary
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Activity: 1274
Merit: 1004
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May 28, 2013, 10:12:01 PM |
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Some body lost a lot of money? Lots of peoples lost thousands including me. Some had more than 50k |
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stick_theman
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May 28, 2013, 10:21:26 PM |
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Some body lost a lot of money? Lots of peoples lost thousands including me. Some had more than 50k Sorry to hear that, bud. |
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CurbsideProphet
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May 28, 2013, 10:33:58 PM |
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Look at this thread btw: http://www.talkgold.com/forum/r391464-.html It is completely completely crazy people have 10k+ stored in a centralized, non-regulated system like that. Who in their right mind did not think this could happen? LR was the pit hole of all scam in the world and next to E-gold when it came to being seized next. Yet people did not give Bitcoin a second look, despite its properties. Why is this crazy? I'm sure numerous people had or still have thousands of dollars w/ Gox. At this point and for the foreseeable future, the most reasonable way to obtain Bitcoins is by trusting some of your fiat balances to a centralized exchange. Even if you go through a company like Coinbase, there's still a period of a few business days where the money is ACH'd out of your bank account and your Bitcoin is not available. Counterparty risk is still one of the major issues that needs to be resolved. |
1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
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Rampion
Legendary
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Activity: 1148
Merit: 1018
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May 28, 2013, 10:54:49 PM
Last edit: May 28, 2013, 11:11:43 PM by Rampion |
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Looking at the topics on Talkgold it seems those people have learned nothing from the shutdown of LR. They are all happily moving to other centralized systems such as HD Money and whatever god awful payment portals there are. Honestly, I dont think they understand how Bitcoin works and why it is different. Take a look for yourself: http://www.talkgold.com/forum/f472-.htmlDidn't know those forums, I'm quite puzzled. There's some special olympics shit going on in there. EDIT: this is just a quote of one of the very first post I read I am a LR exchanger. I don't do any thing fault in law and I am an honest person. However, I loss almost my life saving in my LR account(around 100,000). I will not use any e-currency any more as the USA kingdom is too powerful. They aim to clear up all the e-currency and scam all the money to buy their weapons. EDIT 2: that "talkgold.com" forum is unbelievable, it's for people who willingly participate to all kinds of ponzi scams (reminds me to our alt currencies subforums on steroids). Check this one, almost 3% daily return guaranteed: https://secureassets.com/Payments methods: LR and Perfect Money  |
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