-- Butterfly Labs New 600GH "Mining Card" - RED FLAGS?!?!

[Phinnaeus Gage]

You've all got it wrong. This guy has the right idea: Preorder 3 Monarchs for 20-25k, post them on kijiji for ~180k. http://alberta.kijiji.ca/c-buy-and-sell-electronics-Lot-of-3-Butterfly-Labs-Monarch-Bitcoin-Mining-Cards-W0QQAdIdZ515030640

Theyre never gonna sell.  First, anyone can preorder for $5,000.  Secondly, with BFL's track record you'd have to be stupid to lock in that much money.  You're better off spreading the risk.  Maybe it one Monarch, one KNC Jupiter and one 500GH Cointerra unit.  That's what I would do if I ha $15,000 to risk.

I'm an idiot when it comes to such things, but I have enough screenshots to mash together several fake Monarch orders and make out like a bandit, but I won't.

Amazingly, BFL was able to add millions to their coffer in about three days without a press release or official announcement of the Monarch. Yet, there are legitimate bitcoiners struggling to maintain honest-to-goodness bitcoin-based entities.

This is so sick on so many levels, I'm beside myself.

Madness!

[1714061621]

1714061621

[Vlad2Vlad]

You've all got it wrong. This guy has the right idea: Preorder 3 Monarchs for 20-25k, post them on kijiji for ~180k. http://alberta.kijiji.ca/c-buy-and-sell-electronics-Lot-of-3-Butterfly-Labs-Monarch-Bitcoin-Mining-Cards-W0QQAdIdZ515030640

Theyre never gonna sell.  First, anyone can preorder for $5,000.  Secondly, with BFL's track record you'd have to be stupid to lock in that much money.  You're better off spreading the risk.  Maybe it one Monarch, one KNC Jupiter and one 500GH Cointerra unit.  That's what I would do if I ha $15,000 to risk.

I'm an idiot when it comes to such things, but I have enough screenshots to mash together several fake Monarch orders and make out like a bandit, but I won't.

Amazingly, BFL was able to add millions to their coffer in about three days without a press release or official announcement of the Monarch. Yet, there are legitimate bitcoiners struggling to maintain honest-to-goodness bitcoin-based entities.

This is so sick on so many levels, I'm beside myself.

Madness!

I hear ya.  Sonny is a brilliant marketeer.  I'll give him that much and if he actually ships on time then he deserves enormous credit but I don't see how they'll ship by Nov or even Dec. I'm thinking April or May of next year which would bring lawsuits in my opinion.  But we will see.

[Ytterbium]

That's just the beginning.  The final step is a complete confiscation of Bitcoin and any other good crypto coin or confiscate one and criminalize the rest.

And how exactly are they going to confiscate bitcoin? 

[DeathAndTaxes]

That's just the beginning.  The final step is a complete confiscation of Bitcoin and any other good crypto coin or confiscate one and criminalize the rest.

And how exactly are they going to confiscate bitcoin? 

Please don't get him started.

[Fiyasko]

That's just the beginning.  The final step is a complete confiscation of Bitcoin and any other good crypto coin or confiscate one and criminalize the rest.

And how exactly are they going to confiscate bitcoin? 

Please don't get him started.

^ dont get anyone here started on this topic, Lol its like talking about religion or politics at the dinner table

[Vlad2Vlad]

That's just the beginning.  The final step is a complete confiscation of Bitcoin and any other good crypto coin or confiscate one and criminalize the rest.

And how exactly are they going to confiscate bitcoin? 

Please don't get him started.

Ahahhahahaaa.

I'll keep it short.

Executive order:  National Security.

[Unacceptable]

"I'll give you my dat file when you pry it from my cold, dead hands"

             Unacceptable 

[Vlad2Vlad]

"I'll give you my dat file when you pry it from my cold, dead hands"

             Unacceptable 

No need for a dar file.  They hard fork Bitcoin and criminalize any other coin and any other version of bitcoin.

With ZERO exchanges and zero businesses taking your old bitcoins it will become worthless.  Also, since its all virtual they can probably plan ahead and infect everyone wallets and when they pass the law they'll automate locally delete your coins.  There's a lot of ways to do it and you can be sure the fed will never get out of the business of printing money, virtual or otherwise.

But if you see it coming maybe you can invest in the right coins and make a killing and get the hell out.  That's what I'm trying to do - buy mining rigs and also trying to find the next Bitcoin, Bitcoin 2.0.

I think I got it narrowed down to potential suitors for very different reasons.

ixCoin and Devcoin and they're both really cheap right now.  Dirt cheap like cheaper than the electricity to mine them.

[freedomno1]

The last great take

You've all got it wrong. This guy has the right idea: Preorder 3 Monarchs for 20-25k, post them on kijiji for ~180k. http://alberta.kijiji.ca/c-buy-and-sell-electronics-Lot-of-3-Butterfly-Labs-Monarch-Bitcoin-Mining-Cards-W0QQAdIdZ515030640

Theyre never gonna sell.  First, anyone can preorder for $5,000.  Secondly, with BFL's track record you'd have to be stupid to lock in that much money.  You're better off spreading the risk.  Maybe it one Monarch, one KNC Jupiter and one 500GH Cointerra unit.  That's what I would do if I ha $15,000 to risk.

Mug target found

And since its interesting enough side spread
https://bitcointalk.org/index.php?topic=278824.0;topicseen

[Vlad2Vlad]

The last great take

You've all got it wrong. This guy has the right idea: Preorder 3 Monarchs for 20-25k, post them on kijiji for ~180k. http://alberta.kijiji.ca/c-buy-and-sell-electronics-Lot-of-3-Butterfly-Labs-Monarch-Bitcoin-Mining-Cards-W0QQAdIdZ515030640

Theyre never gonna sell.  First, anyone can preorder for $5,000.  Secondly, with BFL's track record you'd have to be stupid to lock in that much money.  You're better off spreading the risk.  Maybe it one Monarch, one KNC Jupiter and one 500GH Cointerra unit.  That's what I would do if I ha $15,000 to risk.

Mug target found

And since its interesting enough side spread
https://bitcointalk.org/index.php?topic=278824.0;topicseen

Hard drive case?  That's hilarious, I never saw that before.  I've only been here like 4 months so I missed a lot of the insanity.  Well, now they have a CGI Monarch.  Lets see if they make it happen.

[vesperwillow]

I doubt they'd even deliver a hard drive case in a timely fashion.

[Vlad2Vlad]

I doubt they'd even deliver a hard drive case in a timely fashion.

Ahahhahaahaaaa.  That was funny.

[Ytterbium]

"I'll give you my dat file when you pry it from my cold, dead hands"

             Unacceptable 

No need for a dar file.  They hard fork Bitcoin and criminalize any other coin and any other version of bitcoin.

With ZERO exchanges and zero businesses taking your old bitcoins it will become worthless.  Also, since its all virtual they can probably plan ahead and infect everyone wallets and when they pass the law they'll automate locally delete your coins.  There's a lot of ways to do it and you can be sure the fed will never get out of the business of printing money, virtual or otherwise.

I don't think you understand how bitcoin actually works. It's not that simple.  Having 51% of the network doesn't mean you can do 'whatever you want', you still can't transfer money out of wallets you don't have the keys too.

[bcp19]

"I'll give you my dat file when you pry it from my cold, dead hands"

             Unacceptable 

No need for a dar file.  They hard fork Bitcoin and criminalize any other coin and any other version of bitcoin.

With ZERO exchanges and zero businesses taking your old bitcoins it will become worthless.  Also, since its all virtual they can probably plan ahead and infect everyone wallets and when they pass the law they'll automate locally delete your coins.  There's a lot of ways to do it and you can be sure the fed will never get out of the business of printing money, virtual or otherwise.

I don't think you understand how bitcoin actually works. It's not that simple.  Having 51% of the network doesn't mean you can do 'whatever you want', you still can't transfer money out of wallets you don't have the keys too.

What if they worked in secret, recreating the entire block chain from Genesis and then blew every BTC transaction to date out of the water when they force-fed it to the network using 3x the power currently available on the network?  Boom, they have all the BTC you have none.  All they need is a longer chain.

God I love fantasies

[Vlad2Vlad]

"I'll give you my dat file when you pry it from my cold, dead hands"

             Unacceptable  

No need for a dar file.  They hard fork Bitcoin and criminalize any other coin and any other version of bitcoin.

With ZERO exchanges and zero businesses taking your old bitcoins it will become worthless.  Also, since its all virtual they can probably plan ahead and infect everyone wallets and when they pass the law they'll automate locally delete your coins.  There's a lot of ways to do it and you can be sure the fed will never get out of the business of printing money, virtual or otherwise.

I don't think you understand how bitcoin actually works. It's not that simple.  Having 51% of the network doesn't mean you can do 'whatever you want', you still can't transfer money out of wallets you don't have the keys too.

I understand how bitcoin works and to make things simple just look at what Thailand just did:  they criminalized Bitcoin.  End of story.  

And that's Mickey Mouse Thailand.  Imagine what the US can do with one simple executive order.

It's naive to think for one second that any government, but especially the most powerful one and the incredibly powerful Fed, will sit by idly while Bitcoin or any other currency gets more and more powerful and more popular while they slowly lose control.

It's actually absurd and yet I hear people say it all the time how Bitcoin is decentralized as if that's some impossible thing to change if/when the government decides it's the proper time to hijack it.  And nobody even thinks about the fact that Bitcoin has no founder who could put up a fight and make a lot of noise.

It's all so convenient and all in favor of the government yet all these little facts are completely missed by the libertarian crowd.  Let's face it - the government can criminalize gold if it wanted to literally steal it from every American.

Wait, they did just that back in 1934.  I believe that's called:  Precedent.

And yet there's so many people talking about the immovable freedom of Bitcoin as if Bitcoin has some kind of sovereign rights.  It's laughable at best to assume such things.

[Syke]

What if they worked in secret, recreating the entire block chain from Genesis and then blew every BTC transaction to date out of the water when they force-fed it to the network using 3x the power currently available on the network?  Boom, they have all the BTC you have none.  All they need is a longer chain.

God I love fantasies

Reality. https://bitcointalk.org/index.php?topic=194078.0

[Ytterbium]

"I'll give you my dat file when you pry it from my cold, dead hands"

             Unacceptable  

No need for a dar file.  They hard fork Bitcoin and criminalize any other coin and any other version of bitcoin.

With ZERO exchanges and zero businesses taking your old bitcoins it will become worthless.  Also, since its all virtual they can probably plan ahead and infect everyone wallets and when they pass the law they'll automate locally delete your coins.  There's a lot of ways to do it and you can be sure the fed will never get out of the business of printing money, virtual or otherwise.

I don't think you understand how bitcoin actually works. It's not that simple.  Having 51% of the network doesn't mean you can do 'whatever you want', you still can't transfer money out of wallets you don't have the keys too.

I understand how bitcoin works and to make things simple just look at what Thailand just did:  they criminalized Bitcoin.  End of story.  

No they didn't. That story was completely false. And even if they did, so what?  It wouldn't prevent anyone from using bitcoin, it would just be illegal.  Making something illegal doesn't cause it to cease to exist.


Bitcoin is different then gold in that it's just data, and bitcoin wallets can be stored on any computer. The word "crypto" means hidden.  You might be able to hide a bar or two of gold, but you can't hide a mountain of it.  A million dollars worth of BTC can be stored on a USB stick or memory card. Or a printed QR code.  The amount of data needed is so small you could memorize it

The government can pass all the laws it wants.  It can't change mathematics.

[bcp19]

It's actually absurd and yet I hear people say it all the time how Bitcoin is decentralized as if that's some impossible thing to change if/when the government decides it's the proper time to hijack it.  And nobody even thinks about the fact that Bitcoin has no founder who could put up a fight and make a lot of noise.

It's all so convenient and all in favor of the government yet all these little facts are completely missed by the libertarian crowd.  Let's face it - the government can criminalize gold if it wanted to literally steal it from every American.

Wait, they did just that back in 1934.  I believe that's called:  Precedent.

And yet there's so many people talking about the immovable freedom of Bitcoin as if Bitcoin has some kind of sovereign rights.  It's laughable at best to assume such things.

You're leaving out one important fact here... The Gold Standard was the backing of all US funds.  NO new currency could be printed unless it was to replace old worn out currency that had been turned in, or the store of gold was inceased to cover that which was printed.  USD are not backed by Bitcoin as they had been by Gold, so your precedent is worthless.

[freedomno1]

The last great take

You've all got it wrong. This guy has the right idea: Preorder 3 Monarchs for 20-25k, post them on kijiji for ~180k. http://alberta.kijiji.ca/c-buy-and-sell-electronics-Lot-of-3-Butterfly-Labs-Monarch-Bitcoin-Mining-Cards-W0QQAdIdZ515030640

Theyre never gonna sell.  First, anyone can preorder for $5,000.  Secondly, with BFL's track record you'd have to be stupid to lock in that much money.  You're better off spreading the risk.  Maybe it one Monarch, one KNC Jupiter and one 500GH Cointerra unit.  That's what I would do if I ha $15,000 to risk.

Mug target found

And since its interesting enough side spread
https://bitcointalk.org/index.php?topic=278824.0;topicseen

Hard drive case?  That's hilarious, I never saw that before.  I've only been here like 4 months so I missed a lot of the insanity.  Well, now they have a CGI Monarch.  Lets see if they make it happen.

Don't worry there has been a year of insanity already
All are welcome haha

I doubt they'd even deliver a hard drive case in a timely fashion.

+1

[Unacceptable]

"I'll give you my dat file when you pry it from my cold, dead hands"

             Unacceptable  

No need for a dar file.  They hard fork Bitcoin and criminalize any other coin and any other version of bitcoin.

With ZERO exchanges and zero businesses taking your old bitcoins it will become worthless.  Also, since its all virtual they can probably plan ahead and infect everyone wallets and when they pass the law they'll automate locally delete your coins.  There's a lot of ways to do it and you can be sure the fed will never get out of the business of printing money, virtual or otherwise.

I don't think you understand how bitcoin actually works. It's not that simple.  Having 51% of the network doesn't mean you can do 'whatever you want', you still can't transfer money out of wallets you don't have the keys too.

I understand how bitcoin works and to make things simple just look at what Thailand just did:  they criminalized Bitcoin.  End of story.  

No they didn't. That story was completely false. And even if they did, so what?  It wouldn't prevent anyone from using bitcoin, it would just be illegal.  Making something illegal doesn't cause it to cease to exist.


Bitcoin is different then gold in that it's just data, and bitcoin wallets can be stored on any computer. The word "crypto" means hidden.  You might be able to hide a bar or two of gold, but you can't hide a mountain of it.  A million dollars worth of BTC can be stored on a USB stick or memory card. Or a printed QR code.  The amount of data needed is so small you could memorize it

The government can pass all the laws it wants.  It can't change mathematics.

+1,very simple & good "explanation" 

There are only 2 things ANYONE can control,exchanges & pools.Everything else can still continue as it is,unless as stated they try 51%'ing,highly doubt they would take the effort & money to do this........

I wonder if pool mining can be done through something like TOR