Final Final Warning for Long-term holders…

[jamesc760]

The MtGox's lost coins, all 650K of them, were not really lost. They were stolen by Mark K and his cohorts over the last few years. The "malleability" hackz never happened, at least at MtGox. It was pure greed that led to the implosion there.

[1714727808]

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[mb300sd]

50 GB = 1 full bluray torrent. I download several weekly, nonissue.

[dropt]

The MtGox's lost coins, all 650K of them, were not really lost. They were stolen by Mark K and his cohorts over the last few years. The "malleability" hackz never happened, at least at MtGox. It was pure greed that led to the implosion there.

Either that, or they disappearo-d during the hack in 2011.  Personally I believe the concept of 650,000 BTC being recently stolen from Mt. Gox and waiting to be dumped on an exchange absolutely foolish and I have trouble giving any credence to people who make this claim.

[labsbitforum]

The MtGox's lost coins, all 650K of them, were not really lost. They were stolen by Mark K and his cohorts over the last few years. The "malleability" hackz never happened, at least at MtGox. It was pure greed that led to the implosion there.

Either that, or they disappearo-d during the hack in 2011.  Personally I believe the concept of 650,000 BTC being recently stolen from Mt. Gox and waiting to be dumped on an exchange absolutely foolish and I have trouble giving any credence to people who make this claim.

No proof of course that the 650,000 were stolen.  Based on the facts that are known that seems most likely.  My guess is it was back in 2011.  It could have been multiple hacks over the past 3 years.  Whether it was 1 hack or 10 hacks; in 2011 or 2013 doesn't really matter.  Most likely 1 or more hackers or groups have a lot of coins to get rid of.  They will be very careful to sell slowly and cover their tracks.

[Jcw188]

If Bitcoin is going to become a real monetary instrument/currency then it will have to even out eventually.  That is, it's won't go up forever.  I'll wait until I see the price is stable for a long time before getting back into Bitcoin.  That price could be $100, or it could be $10,000.  As far as I'm concerned if you're in it for profit, you're just gambling.  If you're in it to make a statement, then you won't mind the price going up or down.

[Dr. LY]

So let me get this straight:

you saw Jr65 make a shitty thread that arrogantly gave a "final warning" as if he had any fucking clue what he was talking about

saw him get reamed in the thread for it

And instead of posting in THAT thread, you arrogantly post ANOTHER "final warning" thread?

[Jr65]

Yes, that is what he did. Shitty? You don't even know how to capitalize words or use periods. Go get your G.E.D. You need it, badly!

[windjc]

Man I love how knowledgeable newbies have become these days.  We have come along way and we should be proud that they have so much to contribute to the discussion.. lol   The end of Bitcoin has been near so many times according to you fools I can't wait to see you when the fuse reaches it's end and your crying for what used to be considered dust haha.

+1

+1 all newbies become pillars of wisdom these days

I've been involved in bitcoin since 2010.  Registered on this forum at the same time as "counter" and well before Hunyadi and crocko.  I just don't post a lot.  You made the incorrect assumption that I was new based on my post count.  Hopefully you have not made an incorrect assumption that bitcoin could never ever fail...

@inca
I'm not sitting on the sidelines waiting to go back in with the coins I earned from mining.  That was my intent after getting out in January.  I watched for 2 Months.  In that time I noticed the tight computer driven arbitrage get more apparent on all the major exchanges.  I don't think arbitrage is a bad thing but the price seems to be being propped up by computer driven trading as well which wreaks of manipulation.  Over the last two months we've learned more about MtGox, Russia and China.  As I look around I see lots of downside and very little upside.

Maybe it will recover in a year or two.  If we see some real development happening to make the core code and protocol better.  Maybe...  More likely something better will surface.  Something peer-to-peer and decentralized.  At least that is what history has shown us.

You were here in 2010? You are a millionaire now, aren't you?

You did buy lots of bitcoin for nothing and sell them all for millions, didn't you?

Please say so. Because that would make me trust your advise a lot more.

[dropt]

No proof of course that the 650,000 were stolen.  Based on the facts that are known that seems most likely.  My guess is it was back in 2011.  It could have been multiple hacks over the past 3 years.  Whether it was 1 hack or 10 hacks; in 2011 or 2013 doesn't really matter.  Most likely 1 or more hackers or groups have a lot of coins to get rid of.  They will be very careful to sell slowly and cover their tracks.

If there's no proof, why are you using that as a selling point for your argument? Also: What are these known facts?  I'm trying to be polite in asking for something, anything to back this up, but there appears to be absolutely no concrete evidence that the coins are in fact "missing" in whole, part or otherwise.  Further, it does matter when (if) they were stolen.  

If 650K BTC were stolen in 2011 it'd be well beyond the realm of liklihood that they're still sitting somewhere untouched.  If they were stolen in November of 2013 then that's a hugely different scenario than the allegedly stolen coins being in control of some malicious party in, or since 2011.  You say you were around in 2010, so you're then familiar with the size of walls back then.  Walls in the 10's of thousands cropped up all the time and were worth very little in terms of fiat relative to today.

[bitbouillion]

http://stormcloudsgathering.com/bitcoin-what-youre-not-being-told[/li][/list]

Are you serious about using this as your reference?

You get a 3 TB drive for the price of a gas fill-up. Most people burn that in less than a week.

[the_sunship]

it's like Napster? are you sure about that? seems quite different to me....

[Buffer Overflow]

I read most of the thread Jr65 started with the inflammatory subject and decided to plagiarize it.  I will not post a single block of text but apologies in advance for grammar and typos.


Bitcoin was intended to be decentralized and peer-to-peer.

• Mining is no longer decentralized or peer-to-peer.  Individuals for the most part are done.  From here on in it will consolidate more and more with fewer and fewer players backed by big investors (Private Equity, Hedge funds, Banks)
• Scalability of bitcoin seems dubious and there does not appear to be a robust development plan to re-architect fundamental issues with the protocol.  Just patches and fixes.  Blockchain is currently 16.5 GB in size and will easily be 50 GB within a year.  http://stormcloudsgathering.com/bitcoin-what-youre-not-being-told
• Businesses are uneasy about adopting bitcoin because it is too unpredictable and unstable.  May go up or down hundreds of dollars in a moment’s notice.
• Over the past 6 months I’ve noticed very tight computer driven arbitrage happening between Bitstamp, BTC-e, and Huobi.  The total market cap and daily volume is nowhere near big enough to resist manipulation.  Since it’s not government backed or regulated, well the best of the best are free to manipulate it as much as possible.  I can only imagine how the different camps manipulating it are battling it out.
• Russia, China, and other corrupt authoritarian/totalitarian governments will likely stifle anything that challenges their control of banking and the flow of money within their countries.  Only those in the inner circle are allowed to launder...
• There are 650,000 stolen bitcoins out there that are likely being sold off on a regular basis providing steady downward pressure.

Bitcoin end is nigh…

Disclosure, I completely got out of bitcoin back in January.  Don’t plan to re-enter.  Providing my perspective for others to consider.  I’m sure long term holders will say “good riddance”, “more cheap coins for us”, and “HODL!”  I’d encourage anyone who is digging in harder and harder to really step back and take stock of the overall situation.

I got in because I loved the concept of bitcoin and recognized the inevitability of it.  A digital nongovernmental peer-to-peer currency will happen.  I just don’t think bitcoin will be it.  Many have pointed out its likely to be a footnote like Napster is to music distribution.  I agree.

You give up too easy.

[NationOwnedCCNow]

I read most of the thread Jr65 started with the inflammatory subject and decided to plagiarize it.  I will not post a single block of text but apologies in advance for grammar and typos.


Bitcoin was intended to be decentralized and peer-to-peer.

• Mining is no longer decentralized or peer-to-peer.  Individuals for the most part are done.  From here on in it will consolidate more and more with fewer and fewer players backed by big investors (Private Equity, Hedge funds, Banks)
• Scalability of bitcoin seems dubious and there does not appear to be a robust development plan to re-architect fundamental issues with the protocol.  Just patches and fixes.  Blockchain is currently 16.5 GB in size and will easily be 50 GB within a year.  http://stormcloudsgathering.com/bitcoin-what-youre-not-being-told
• Businesses are uneasy about adopting bitcoin because it is too unpredictable and unstable.  May go up or down hundreds of dollars in a moment’s notice.
• Over the past 6 months I’ve noticed very tight computer driven arbitrage happening between Bitstamp, BTC-e, and Huobi.  The total market cap and daily volume is nowhere near big enough to resist manipulation.  Since it’s not government backed or regulated, well the best of the best are free to manipulate it as much as possible.  I can only imagine how the different camps manipulating it are battling it out.
• Russia, China, and other corrupt authoritarian/totalitarian governments will likely stifle anything that challenges their control of banking and the flow of money within their countries.  Only those in the inner circle are allowed to launder...
• There are 650,000 stolen bitcoins out there that are likely being sold off on a regular basis providing steady downward pressure.

Bitcoin end is nigh…

Disclosure, I completely got out of bitcoin back in January.  Don’t plan to re-enter.  Providing my perspective for others to consider.  I’m sure long term holders will say “good riddance”, “more cheap coins for us”, and “HODL!”  I’d encourage anyone who is digging in harder and harder to really step back and take stock of the overall situation.

I got in because I loved the concept of bitcoin and recognized the inevitability of it.  A digital nongovernmental peer-to-peer currency will happen.  I just don’t think bitcoin will be it.  Many have pointed out its likely to be a footnote like Napster is to music distribution.  I agree.

You give up too easy.

He could use skills like this to strengthen his heart and confidence in his own abilities.

http://cdn.gifbay.com/2013/07/matthew_mcconaughey_being_weird_the_wolf_of_wall_street-65358.gif

[labsbitforum]

I did not get involved in bitcoin to get rich quick.  I figured there was a decent chance that it might yield a very good return but that wasn’t why I decided to get involved when I did.

I’ve been deeply involved in many aspects of computing and technology over the past 30 years.  Sometimes in a business context and sometimes a purely technical context.  We are living within the epoch of the digital revolution and globalization; every bit as transformative to society as Industrial Revolution or Neolithic Revolution.

In the past couple decades we’ve seen how that has transformed media like music, movies, television, and newspapers.  It has also transformed how we shop.  The classic manufacturer, distributor, wholesaler, reseller, retialer model has compacted in most cases to direct or nearly direct to manufacturer.  Communications from land lines to mobile phones and mail to email or other electronic messaging systems.  etc.

None of these are as consequential or as potentially transformational as in the banking and financial areas of society.  It could liberate many people from corrupt and oppressive systems in their own countries.  Based on how the information age impacted those other areas its likely to make it easier to get loans and get a lower rate which should allow more smart hard working people a better chance at prosperity.

Good things that I was happy to help support and will continue to do so.

[jdun]

It's ironic that bitcoin FUDers even post in this forum. The fact that you are thinking about bitcoin enough to even go out of your way to post in a bitcoin thread means that even the FUDers are still obsessed with bitcoin enough that they want back in. The fact that you're spending time here means deep down you really DO still believe in bitcoin. You don't find too many atheists in church every Sunday morning.

[bitcoinsrus]

It's ironic that bitcoin FUDers even post in this forum. The fact that you are thinking about bitcoin enough to even go out of your way to post in a bitcoin thread means that even the FUDers are still obsessed with bitcoin enough that they want back in. The fact that you're spending time here means deep down you really DO still believe in bitcoin. You don't find too many atheists in church every Sunday morning.

Also when I read the coindesk articles (comment section)
there are people (mainly people who never heard of bitcoin) say stupid things like bitcoin is a ponzi and then below him is a more experienced member (who know about bitcoin) who corrects them and counters their point successfully.

[c0ldfusi0nz]

It's ironic that bitcoin FUDers even post in this forum. The fact that you are thinking about bitcoin enough to even go out of your way to post in a bitcoin thread means that even the FUDers are still obsessed with bitcoin enough that they want back in. The fact that you're spending time here means deep down you really DO still believe in bitcoin. You don't find too many atheists in church every Sunday morning.

https://i.imgur.com/kzVdKJi.gif

[btcgoldsilver]

I sold out with same concerns as Opening Post. Length and exponential growth of blockchain etc. and bought some physical gold and silver.

Since then I've decided bitcoin may end up being centralised yet there may be big profit still to be had riding the bitcoin bull for a few more years, therefore I've bought back in, with a bit less than I had before. However I will periodically use bitcoin profit to add  physical precious metals.

I think bankers will switch to supporting bitcoin the more controlled it gets so I see it as a safe bet for profit but not the utopian end of central banking we all dream of.

Physical gold and silver are what I prefer in the end. Physical silver (not gold) is real money all through history and it is the Achilles heel of the financial system. In the meantime I am still open minded about the possibility of bitcoin and fairly certain there are huge profits to be made.. but fearful it could turn against us.