Page 2 of 12 FirstFirst 1234 ... LastLast
Results 16 to 30 of 179

Thread: Bitcoin Boom

  1. #16
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    78,357

    Default Re: Bitcoin Boom

    Seems to me that this is a ponzi - pyramid scheme.

    The coinage is based on nothing of value, and has no armed forces to defend it.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  2. #17
    Join Date
    Mar 2010
    Location
    heart of Europe
    Posts
    22,544

    Default Re: Bitcoin Boom

    Trading in the 140's now after hitting 260 earlier today.

    Not sure what happened.
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  3. #18
    Join Date
    Nov 2010
    Location
    in the national interest
    Posts
    17,668

    Default Re: Bitcoin Boom

    I think something will come of it but perhaps not bitcoin.

    There is a germ in the idea and this should be considered an early attempt

  4. #19
    Join Date
    Dec 2012
    Posts
    1,650

    Default Re: Bitcoin Boom

    A good summary of the problem in this quote from one of the Count's links.

    The commodity value of bitcoins is rooted in their currency value, but the more of a commodity they become, the less useful they are as a currency.

  5. #20
    Join Date
    Mar 2010
    Location
    heart of Europe
    Posts
    22,544

    Default Re: Bitcoin Boom

    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  6. #21
    Join Date
    Nov 2010
    Location
    in the national interest
    Posts
    17,668

    Default Re: Bitcoin Boom

    LOL

    looks like Ireland

  7. #22
    Join Date
    Feb 2010
    Posts
    2,633

    Default Re: Bitcoin Boom

    Quote Originally Posted by C. Flower View Post
    Seems to me that this is a ponzi - pyramid scheme.

    The coinage is based on nothing of value, and has no armed forces to defend it.
    lol,
    there is no coinage. There's just very unique numbers that create a paradigm of value.
    When people buy into that value system (buy/mine bitcoins) they imbue that system with inherent value.
    Oook.

  8. #23
    Join Date
    Aug 2011
    Location
    hiding inside Brendan Gleesons underwear drawer...
    Posts
    13,555

    Default Re: Bitcoin Boom

    http://www.bbc.co.uk/news/technology-22105322

    Value of bitcoin crashed...
    History is the only true teacher, the revolution the best school for the proletariat - Rosa Luxembourg

  9. #24
    Join Date
    Feb 2010
    Posts
    2,633

    Default Re: Bitcoin Boom

    Quote Originally Posted by DCon View Post
    I was following this today, a massive drop by 18:00, havn't the foggiest why it happened.
    Oook.

  10. #25
    Join Date
    Aug 2011
    Location
    hiding inside Brendan Gleesons underwear drawer...
    Posts
    13,555

    Default Re: Bitcoin Boom

    Quote Originally Posted by musashi View Post
    I was following this today, a massive drop by 18:00, havn't the foggiest why it happened.
    A lot of new accounts I read but they have denied it was hackers...
    History is the only true teacher, the revolution the best school for the proletariat - Rosa Luxembourg

  11. #26
    Join Date
    Nov 2010
    Location
    in the national interest
    Posts
    17,668

    Default Re: Bitcoin Boom

    Bitcoin crash will not prevent Ireland's return to the market - Taoiseach

  12. #27
    Join Date
    Feb 2010
    Posts
    2,633

    Default Re: Bitcoin Boom

    Quote Originally Posted by fluffybiscuits View Post
    A lot of new accounts I read but they have denied it was hackers...
    But if you were one of those who found out about Bitcoin from the mass of recent media and bought at yesterday's peak, then you've learned a valuable lesson - like tulips in the 17th Century and London houses in 1988, prices can go down as well as up.

    There have been all sorts of explanations of what caused yesterday's crash - from a problem at the main exchange to a strange incident in which someone called Bitcoinbillionaire apparently started giving away large sums on the social news site Reddit.

    A likelier reason is our old friends Greed and Fear combining to inflate and then depress prices as all those new arrivals crowded into the market.
    More inclined to suspect those two ol' chestnuts.
    Media coverage influenced yesterday's spike.
    Not good.
    Last edited by musashi; 11-04-2013 at 04:44 PM.
    Oook.

  13. #28
    Join Date
    Feb 2010
    Posts
    2,633

    Default Re: Bitcoin Boom

    Think I'm probably pushing the limits of copyright here but:

    What is true is that we are seeing a fascinating experiment in what a currency of the future might look like. But unless and until Bitcoin can be used to buy a sandwich, or be accepted by your friends when you pay them back for a restaurant meal, then it is likely to remain just a playground for geeks and gamblers.
    A playground for geeks and gamblers...oh right it's internet stuffs...goddamned Luddites make me wanna...
    Oook.

  14. #29
    Join Date
    Aug 2011
    Location
    hiding inside Brendan Gleesons underwear drawer...
    Posts
    13,555

    Default Re: Bitcoin Boom

    http://en.wikipedia.org/wiki/Tulip_mania

    Can see the principle of what you are saying musahi, very true!
    History is the only true teacher, the revolution the best school for the proletariat - Rosa Luxembourg

  15. #30
    Join Date
    Nov 2010
    Location
    in the national interest
    Posts
    17,668

    Default Re: Bitcoin Boom

    Ballsy bitcoin, via conor mccabe


Page 2 of 12 FirstFirst 1234 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Share us
Follow Us