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InvisibleTrentBoyett
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Re: I hope bitcoin crashes [Re: Thulean]
    #19114110 - 11/10/13 10:17 AM (10 years, 2 months ago)

Quote:

Thulean said:
It's a subjective take on it sure... but the opinion is founded using logic and intuition. Stay naive though.



I'm not naive, I said it is very possible, that does not make it a sure thing though.


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OfflineThulean

Registered: 10/04/13
Posts: 99
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Re: I hope bitcoin crashes [Re: TrentBoyett]
    #19114115 - 11/10/13 10:18 AM (10 years, 2 months ago)

Quote:

mjmihalov said:
Quote:

Thulean said:
It's a subjective take on it sure... but the opinion is founded using logic and intuition. Stay naive though.



I'm not naive, I said it is very possible, that does not make it a sure thing though.



What would then haha, you're right they should just tell us if they are or not.


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InvisibleTrentBoyett
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Re: I hope bitcoin crashes [Re: Thulean]
    #19114179 - 11/10/13 10:33 AM (10 years, 2 months ago)

Quote:

Thulean said:
Quote:

mjmihalov said:
Quote:

Thulean said:
It's a subjective take on it sure... but the opinion is founded using logic and intuition. Stay naive though.



I'm not naive, I said it is very possible, that does not make it a sure thing though.



What would then haha, you're right they should just tell us if they are or not.



I'm simply saying it's impossible to know for sure, so you shouldn't be spouting off rhetoric that it is surely ran by the feds when you don't have evidence that it is.

Regardless I'll probably never use it, I never used the original either.


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InvisibleTheMule73
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Re: I hope bitcoin crashes [Re: Gilgamesh18]
    #19116240 - 11/10/13 05:51 PM (10 years, 2 months ago)

Quote:

Gilgamesh18 said:
I still don't understand how to buy bitcoins it seems really confusing.




Yeah, the whole thing is confusing. Unless average joes can easily obtain and keep secure bitcoins, then I am skeptical it will take off. Nonetheless though, I bought a few earlier last week from cashintocoins.com. I had to take the leap and have faith in humanity not to screw me out of my money, but hey it worked. Deposit cash into his bank account, send him a pic of the receipt, and then wait a few hours. I am going to sign up on an exchange, probably BTC-e, this week (does anyone know if they need to verify your account and how long that would take as bitstamp and others do?). Hopefully it will be easier to buy and sell through that.

I kind of just wanted to get some BTC to learn through experience. And I've definitely learned a lot more about it just this past week. You should try to get a little and you'll probably start learning along the way.

I have to figure out how to secure my wallet though. Backing it up offline or making paper wallets is all :confused:


Edited by TheMule73 (11/10/13 05:53 PM)


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InvisibleBlackWidow
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Registered: 09/25/11
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Re: I hope bitcoin crashes [Re: TheMule73]
    #19116304 - 11/10/13 06:02 PM (10 years, 2 months ago)

Read this thread about bitcoins 7 months ago: http://www.shroomery.org/forums/showflat.php?Cat=0&Number=18052132&fpart=1

It's kind of funny to read now.


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OfflineMush4Brains
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Registered: 07/31/13
Posts: 4,419
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Re: I hope bitcoin crashes [Re: hTx]
    #19116371 - 11/10/13 06:13 PM (10 years, 2 months ago)

Quote:

hTx said:
Bitcoins are $300+ right now.

I bought bitcoins at $6 in 2011 after the crash from $30 and knew I was getting a deal.

Have you seen the paper submitted by Satoshi in which he invents bitcoin?

Its one of the most genius things I have ever seen. Bitcoin wasn't successful because of SR, SR was successful because of bitcoin.

They gained value because they cannot 'seize' the purported 600k in BTC from the sites alleged owner, and because China recently got interested. Any currency that relies on a third-party (fiat) is doomed to fail against decentralized cryptocurrencies due to the very trust factor you speak of..It is truly only a matter of time before fiat and the fed crashes, imo. Also, supply and demand..recognition, etc.

Bitcoin is what it is not because of the small amount of criminal activity for which it allows, but because of the freedom and independence it allows. 

Fuck a third-party, fuck a bank, fuck a western union and a paypal.

Bitcoin needs none and neither do you. :grin:




What do you mean that the Feds can't seize Ulbricht's coins?  They already have them.


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InvisiblehTx
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Re: I hope bitcoin crashes [Re: Mush4Brains]
    #19116413 - 11/10/13 06:21 PM (10 years, 2 months ago)

they only have the coins that were on SR and cannot crack the wallet that they believe is DPRs personal wallet..


--------------------
zen by age ten times six hundred lifetimes
Light up the darkness.


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Offlinexpl0de
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Re: I hope bitcoin crashes [Re: Mush4Brains]
    #19116417 - 11/10/13 06:21 PM (10 years, 2 months ago)

They cant access them.


--------------------


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InvisibleNWlight
Just look


Registered: 01/12/10
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Re: I hope bitcoin crashes [Re: hTx]
    #19116420 - 11/10/13 06:22 PM (10 years, 2 months ago)

Quote:

hTx said:
they only have the coins that were on SR and cannot crack the wallet that they believe is DPRs personal wallet..




--------------------
:wizard::deemsters:


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OfflineMush4Brains
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Re: I hope bitcoin crashes [Re: hTx]
    #19116586 - 11/10/13 06:50 PM (10 years, 2 months ago)

Quote:

hTx said:
they only have the coins that were on SR and cannot crack the wallet that they believe is DPRs personal wallet..





They already have it man, it was all over the web.  28.5 million was seized by the FBI, and transferred into their own wallet.

http://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/

That was before this huge spike in prices too.


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Invisiblepwnasaurus
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Registered: 07/16/08
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Re: I hope bitcoin crashes [Re: Mush4Brains]
    #19116592 - 11/10/13 06:51 PM (10 years, 2 months ago)

Quote:

Mush4Brains said:
Quote:

hTx said:
they only have the coins that were on SR and cannot crack the wallet that they believe is DPRs personal wallet..





They already have it man, it was all over the web.  23.5 million was seized by the FBI, and transferred into their own wallet.



The valuation of his personal wallet at the time of seizure was $80 million and the price has risen 250% since then.  That was another wallet.


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OfflineMush4Brains
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Re: I hope bitcoin crashes [Re: Mush4Brains]
    #19116606 - 11/10/13 06:53 PM (10 years, 2 months ago)

Quote:

The valuation of his personal wallet at the time of seizure was $80 million and the price has risen 250% since then.  That was another wallet.




The $80 million was an estimate in the indictment, and that was the all the profit that the site had made, not just DPR.


http://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/

You can see all the 324 BTC transactions going into the FBI's wallet on the second page.

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH


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OfflineMush4Brains
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Re: I hope bitcoin crashes [Re: Mush4Brains]
    #19116619 - 11/10/13 06:57 PM (10 years, 2 months ago)

Quote:

In its criminal complaint against Ulbricht, the Department of Justice claimed that the Silk Road had earned $80 million in commissions during its time online. But it’s unlikely that the site’s administrators pocketed anywhere near that much in actual profit. When I interviewed the Dread Pirate Roberts last July, he told me that the “vast majority” of the site’s profits had been funneled back into its operations and growth.  ”As far as my monetary net worth is concerned, the future value of Silk Road as an organization dwarfs its and my liquid assets,” he told me.




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InvisiblehTx
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Re: I hope bitcoin crashes [Re: Mush4Brains]
    #19116821 - 11/10/13 07:34 PM (10 years, 2 months ago)

Quote:

“The FBI has not been able to get to Ulbricht’s personal Bitcoin yet,” wrote Hill. An FBI spokesperson said to Hill that the “$80m worth” that Ulbricht had “was held separately and is encrypted”. At current exchange rates, that represents slightly more than 5% of all bitcoins in circulation.




--------------------
zen by age ten times six hundred lifetimes
Light up the darkness.


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OfflineMush4Brains
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Re: I hope bitcoin crashes [Re: hTx]
    #19117035 - 11/10/13 08:12 PM (10 years, 2 months ago)

There was no $80 million worth of bitcoins to be seized.

Your quote was from 18 days before the Forbes article.  The FBI has seized DPR's coins.


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InvisibleNWlight
Just look


Registered: 01/12/10
Posts: 18,686
Re: I hope bitcoin crashes [Re: Mush4Brains]
    #19117052 - 11/10/13 08:14 PM (10 years, 2 months ago)

man I hope you're wrong.

different dates showing different facts.
Trying to find the most recent article


--------------------
:wizard::deemsters:


Edited by NWlight (11/10/13 08:15 PM)


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OfflineMush4Brains
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Re: I hope bitcoin crashes [Re: Mush4Brains]
    #19117057 - 11/10/13 08:15 PM (10 years, 2 months ago)

Quote:

Mush4Brains said:
Quote:

In its criminal complaint against Ulbricht, the Department of Justice claimed that the Silk Road had earned $80 million in commissions during its time online. But it’s unlikely that the site’s administrators pocketed anywhere near that much in actual profit. When I interviewed the Dread Pirate Roberts last July, he told me that the “vast majority” of the site’s profits had been funneled back into its operations and growth.  ”As far as my monetary net worth is concerned, the future value of Silk Road as an organization dwarfs its and my liquid assets,” he told me.









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Invisibledeadwk
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Re: I hope bitcoin crashes [Re: Thulean]
    #19117330 - 11/10/13 09:14 PM (10 years, 2 months ago)

Quote:

Thulean said:
The "new" silk road is surely controlled by the feds... hope the vendors going back there are practicing some intense opsec.





I really don't think this is entirely true to be honest. And to be honest, I don't think it would be that great of a way to catch vendors; As for the most part all you would do is catch vendors that aren't too smart, which probably aren't the top vendors. It would be more stealth and covert to conduct undercover operations against the website, make fake buys, etc...

I really don't think the website is fed owned, but I do think the second it launched the feds were conducting ops to try and take it down. Plus PGP Two-Factor Authentication? That's just making their job much harder.


edit: About the current price drop, OP is wrong to call it a crash, it was probably a momentary price correction, temporarily stabalizing a bit. If it was a crash, it would be <300, probably even <250


Edited by deadwk (11/10/13 09:21 PM)


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OfflineKiya_Star427
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Registered: 10/14/13
Posts: 355
Loc: New York Flag
Last seen: 5 years, 1 month
Re: I hope bitcoin crashes [Re: deadwk]
    #19117540 - 11/10/13 09:55 PM (10 years, 2 months ago)

Quote:

thedeadwalkk said:
Quote:

Thulean said:
The "new" silk road is surely controlled by the feds... hope the vendors going back there are practicing some intense opsec.





I really don't think this is entirely true to be honest. And to be honest, I don't think it would be that great of a way to catch vendors; As for the most part all you would do is catch vendors that aren't too smart, which probably aren't the top vendors. It would be more stealth and covert to conduct undercover operations against the website, make fake buys, etc...

I really don't think the website is fed owned, but I do think the second it launched the feds were conducting ops to try and take it down. Plus PGP Two-Factor Authentication? That's just making their job much harder.


edit: About the current price drop, OP is wrong to call it a crash, it was probably a momentary price correction, temporarily stabalizing a bit. If it was a crash, it would be <300, probably even <250




^Agreed


--------------------


Edited by Kiya_Star427 (11/10/13 09:55 PM)


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InvisibleTheMule73
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Re: I hope bitcoin crashes [Re: Kiya_Star427]
    #19130222 - 11/13/13 07:17 AM (10 years, 2 months ago)

Good god its at about 420 right now on Gox. How long was it even n the 300s for?  How hard do you guys think this will crash?


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