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Offlinexpl0de
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Bitcoin ATMs coming to the U.S
    #19586005 - 02/18/14 04:30 PM (10 years, 1 month ago)

http://www.cnn.com/2014/02/18/tech/innovation/bitcoin-atms/index.html?hpt=hp_t2

(CNN) -- Bitcoin, the emerging if still somewhat mysterious digital currency, may be coming soon to a high-tech ATM near you.

Kiosks that allow people to buy the virtual coins, or exchange them for cash, will be installed within the next month or so in Seattle and Austin, Texas, according to Robocoin, the Las Vegas-based company that makes the machines.

They will be the first such ATMs in the United States. Robocoin has installed machines in Vancouver, British Columbia, with more in Canada, Hong Kong, Europe and Asia in the works.

The emergence of public ATMs, the company says, is a step toward making Bitcoin, a currency that's not backed by a government or bank and has no physical assets to prop up its value, a more comfortable buy for mainstream users outside the Webcentric circles where it currently thrives.
Here's how Bitcoin works
Can Bitcoin go mainstream?

"We think it's a huge breakthrough when it comes to bringing accessibility to the consumers," Robocoin CEO Jordan Kelley said.

Since its inception in 2009, Bitcoin has fluctuated wildly in value. Currently, a single Bitcoin is worth about $636. That value was as high as $1,000 in December as investors began leaping into the currency.

Some traditional businesses, including online retailer Overstock.com, some Subway sandwich shops and Richard Branson's Virgin Galactic, have begun accepting Bitcoin.

But the anonymous nature of the currency also has linked it with less reputable outlets. Bitcoin and other digital "cryptocurrencies" have been the de facto payment system on underground websites that deal in drugs, weapons and other illegal merchandise.

Last week, the anonymous owners of black-market website Silk Road announced that hackers had stolen $2.7 million worth of Bitcoin. In separate incidents, several online Bitcoin exchanges have been taken down by hackers who exploited a flaw to create fake transactions.

Kelley wants his company's machines to help the currency shed its shadier associations, even if that means alienating some supporters who like the mostly anonymous nature of Bitcoin exchanges.

"We're trying to move Bitcoin, put it in the mainstream, bring it to the masses," he said. "To do that, some things have to go by the wayside, and one of them is anonymity."

To create a Robocoin account, a user enters their mobile phone number at one of the kiosks. The machine sends a code to that phone and, after the user enters the code, they are asked to scan the palm of their hand.

"Your phone is your user ID and your palm is your password," Kelly said.

The user is then asked to insert a driver's license or other government-issued ID, further personalizing their account as well as providing Robocoin an opportunity to verify the user's name against government watch lists for terrorists or others who may not legally do business in the machine's home country.

Then, the user takes a photo at the kiosk, which must be verified as a match with the picture on their ID card.

Once their account is verified, a process Kelley said takes two to five minutes, they are free to buy Bitcoins at the kiosk. Customers may either transfer them to an account, using a private code the machine dispenses, or use a smartphone app to store them on their phone.

Robocoin sells the machines for $20,000. Owners make money by charging a small transaction fee to use them, Kelley said.


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InvisibleA Day InThe Life
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Re: Bitcoin ATMs coming to the U.S [Re: xpl0de]
    #19586089 - 02/18/14 04:47 PM (10 years, 1 month ago)

Debating about investing into these or not, possibly heavily. Not sure though, worried they may be outlawed because they seem like they could be rather threatening to the federal reserve & whatnot.


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

:print:  Free Spore Ring Canada  :print:

Edited by A Day InThe Life (02/18/14 04:47 PM)

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InvisibleRepertoire89
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Re: Bitcoin ATMs coming to the U.S [Re: A Day InThe Life]
    #19586112 - 02/18/14 04:51 PM (10 years, 1 month ago)

Quote:

A Day InThe Life said:
Debating about investing into these or not, possibly heavily. Not sure though, worried they may be outlawed because they seem like they could be rather threatening to the federal reserve & whatnot.




If they become outlawed, they won't go anywhere. Why not make a mild investment instead of going all in?

Its very much gambling though, imo.

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InvisibleA Day InThe Life
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Re: Bitcoin ATMs coming to the U.S [Re: Repertoire89]
    #19586359 - 02/18/14 05:44 PM (10 years, 1 month ago)

I know they won't go anywhere but their value may drop a lot without having exchanges to easily trade them for fiat currencies/lose their liquidity. just trying to decide what percentage of savings to invest I guess..


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

:print:  Free Spore Ring Canada  :print:

Edited by A Day InThe Life (02/18/14 05:45 PM)

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InvisibleCyclohexylamine
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Re: Bitcoin ATMs coming to the U.S [Re: Repertoire89]
    #19586451 - 02/18/14 06:01 PM (10 years, 1 month ago)

Quote:

Repertoire89 said:
Quote:

A Day InThe Life said:
Debating about investing into these or not, possibly heavily. Not sure though, worried they may be outlawed because they seem like they could be rather threatening to the federal reserve & whatnot.




If they become outlawed, they won't go anywhere. Why not make a mild investment instead of going all in?

Its very much gambling though, imo.




Yeah it is quite a gamble. I have made nicely on it so far.
@ A Day InThe Life - now is probably the best time to invest, they crashed a little not too long ago and have held steady - if history is any indicator then they will rise again. However like any high risk investment don't invest anything you can't afford to lose.


--------------------
Yes this is tymo - I just changed my name

Have you ever had a dream that you were so sure was real? What if you were unable to awake from that dream? How would you know the difference between that dream world and the real world?


There is NOTHING better than feeling that warm dissociative fuzz creeping up your body from IM K
Something abut that anaesthetic rush... :inlove:

Qualitative Research Chemical Effects and Experiences
The Wonderful World of Methoxetamine
The 3-Meo-PCP Chapters, Part One

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Invisiblebryguy27007
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Re: Bitcoin ATMs coming to the U.S [Re: Cyclohexylamine]
    #19586665 - 02/18/14 06:49 PM (10 years, 1 month ago)

You have to put your driver's license in to use these? Not gonna happen.

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InvisibleRepertoire89
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Re: Bitcoin ATMs coming to the U.S [Re: bryguy27007]
    #19586796 - 02/18/14 07:22 PM (10 years, 1 month ago)

Quote:

bryguy27007 said:
You have to put your driver's license in to use these? Not gonna happen.




Palm prints

:awesketch:

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Offlineparadoxical2020
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Re: Bitcoin ATMs coming to the U.S [Re: Repertoire89]
    #19586966 - 02/18/14 08:02 PM (10 years, 1 month ago)

They're crashing at the moment and from what's been said by economic/currency/market analysts, it will continue to do so for a little while to come. If I were going to drop some cash in, which I'm giving serious consideration to at the moment, especially considering the crash and boom that occurred toward the end of 2013, I'd give it another month or two.

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OfflineDocta Greenthumb
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Re: Bitcoin ATMs coming to the U.S [Re: paradoxical2020]
    #19587092 - 02/18/14 08:22 PM (10 years, 1 month ago)

I hope they put some of these where I live, would make bitcoin so much easier to use


--------------------
Sooner or later the people in this country are gonna realize the government doesn't give a fuck about them! The government doesn't care about you, or your children, or your rights, or your welfare, or your safety. It simply doesn't give a fuck about you! It's interested in it's own power. That's the only thing. Keeping it and expanding it wherever possible.
-George Carlin
             
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InvisibleEastBayRay
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Re: Bitcoin ATMs coming to the U.S [Re: Repertoire89]
    #19587501 - 02/18/14 09:49 PM (10 years, 1 month ago)

Quote:

Repertoire89 said:
Quote:

bryguy27007 said:
You have to put your driver's license in to use these? Not gonna happen.




Palm prints

:awesketch:



Mark of the beast.  I give it seven years or less and the only form of currency will be digital and all transactions will be monitored and tracked.  Either the issuing in will be subtle and sold as convenience or forced after an orchestrated currency collapse. But that's just like my opinion, man.

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InvisibleSuperD
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Re: Bitcoin ATMs coming to the U.S [Re: EastBayRay]
    #19587635 - 02/18/14 10:19 PM (10 years, 1 month ago)

Quote:

EastBayRay said:
I give it seven years or less and the only form of currency will be digital and all transactions will be monitored and tracked.




I'm not quite as confident as you that 7 years is an accurate time frame, but you are correct that digital currency will be the only form of currency at some point in the future.  Future generations will ponder over how and why we bothered to handle such dirty germ-ridden paper and coins for such an extensive period of time.


--------------------
:super:D
Manoa said:
I need to stop spending all my money on plants and take up a cheaper hobby, like heroin. :lol:

Looking for Rauhocereus riosaniensis seeds or live specimen(s), :pm: me if you have any for trade

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OfflineAlan RockefellerM
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Re: Bitcoin ATMs coming to the U.S (moved) [Re: xpl0de]
    #19588574 - 02/19/14 05:07 AM (10 years, 1 month ago)

This thread was moved from Shroomery News Service.

Reason:
Not drug or mushroom related

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InvisibleEastBayRay
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Re: Bitcoin ATMs coming to the U.S [Re: SuperD]
    #19591814 - 02/19/14 08:09 PM (10 years, 1 month ago)

Quote:

SuperD said:
Quote:

EastBayRay said:
I give it seven years or less and the only form of currency will be digital and all transactions will be monitored and tracked.




I'm not quite as confident as you that 7 years is an accurate time frame, but you are correct that digital currency will be the only form of currency at some point in the future.  Future generations will ponder over how and why we bothered to handle such dirty germ-ridden paper and coins for such an extensive period of time.



I'll take untraceable hard cash over monitored digital currency any day of the week.  Unlike others, I do not welcome in the slave state.

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OfflineManianFH
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Re: Bitcoin ATMs coming to the U.S [Re: EastBayRay]
    #19592929 - 02/20/14 01:09 AM (10 years, 1 month ago)

seriously. removing anonymity is removing one of the core principles of bitcoin. but more exposure is a good thing.

i went into bitcoin at $1700, and have lost about $900 so far. for the record.


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."

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OfflineRandomFX
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Re: Bitcoin ATMs coming to the U.S [Re: ManianFH] * 1
    #19593302 - 02/20/14 04:00 AM (10 years, 1 month ago)

why would anyone be for bit coin, seriously? Even the folk who 'are against the fed' are for the most part because a paper monetary system has no reality based worth backing it, ie they can just print more paper....but with bit coin, you do not even have to worry about printing it... it is pure digital and fake based on nothing but either bit's and data. People won;t even know how much it is diluted , when it is diluted, and I have to imagine it will be diluted a lot. No thanks. I just do not see the wisdom in it at all. and I'm a techie like I am sure a lot fo you are, the thought of just having a cred stick is appealing if it is in the movies, but in reality... no... without physical trading of items, we the people lose control of everything.

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InvisibleSuperD
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Re: Bitcoin ATMs coming to the U.S [Re: RandomFX]
    #19594153 - 02/20/14 10:58 AM (10 years, 1 month ago)

Quote:

RandomFX said:
People won;t even know how much it is diluted , when it is diluted, and I have to imagine it will be diluted a lot.




What exactly are you referring to here?  Nothing gets diluted with bitcoin, and if it did, every single person would know about it.  That's the beauty of it.  The exact quantity of bitcoins is accountable because it's all public.  That is an inherent feature within the bitcoin system.  I think you misunderstand the way BTC works but that's ok, because I'm certainly far from a pro on the subject myself.

Quote:

People won;t even know how much it is diluted , when it is diluted, and I have to imagine it will be diluted a lot.




You were talking about bitcoins being diluted without our knowledge but that is false, and in reality it's paper money that can be diluted without our knowledge.  We know exactly when new bitcoins are mined and in what quantity.  What we don't and can't know however, is how much money the Fed is printing behind closed doors.

I'm for both systems by the way.  I like cash and I like bitcoins even though I don't currently use them.


--------------------
:super:D
Manoa said:
I need to stop spending all my money on plants and take up a cheaper hobby, like heroin. :lol:

Looking for Rauhocereus riosaniensis seeds or live specimen(s), :pm: me if you have any for trade

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OfflineRandomFX
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Re: Bitcoin ATMs coming to the U.S [Re: SuperD]
    #19594198 - 02/20/14 11:12 AM (10 years, 1 month ago)

You are right, I do not know, that much about them at all...how exactly is one to know when bitcoins are 'created' and how many there are out there? I read this article:
"Bitcoins, like bearer bonds, belong to whoever has possession. But the government can still trace them—and will if theft and fraud become big enough problems, according to Daley. Even Bitcoins that have been run through a tumbler to erase their identity have been successfully traced in a computer science experiment, he says."

http://www.businessweek.com/articles/2014-02-18/how-the-feds-can-take-even-legally-earned-bitcoin

and if they believe the feds can even do that under any circumstance, then one has to be able to do it by other means also, I would think. In short, what does bit coins actually do 'for you' really?

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OfflineAlan RockefellerM
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Re: Bitcoin ATMs coming to the U.S [Re: RandomFX] * 1
    #19594319 - 02/20/14 11:45 AM (10 years, 1 month ago)

Quote:

RandomFX said:
In short, what does bit coins actually do 'for you' really?






The same thing money does, except with bitcoins, the government is not involved.

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InvisibleDieCommie

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Re: Bitcoin ATMs coming to the U.S [Re: RandomFX]
    #19594325 - 02/20/14 11:47 AM (10 years, 1 month ago)

The blockchain is the master ledger.  It contains the information of how many bitcoins are in each account.  Everybody who has the bitcoin client running with a copy of the blockchain has a copy of the master ledger.  To know when bitcoins are created and how many there are out there you look in the blockchain.

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OfflineRandomFX
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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: DieCommie]
    #19594584 - 02/20/14 12:48 PM (10 years, 1 month ago)

ya but so what, you know how many are out there, can you actually do anything about it? and if it ever became as popular as say paper money, is anyone seriously going to ever look at how many bit coins were mined? There are statistics surely out there for how much money is printed too, but no one is going to bother looking at it really. people are just like "Oh ya ok...the fed printed X billions more...yawn...whatever."
and who sets the prices for what you purchase things at with them? the merchants the same as anyone I presume right?

"It did feel kind of awesome to plug cold hard cash into a machine and have it appear in virtual form on my smartphone with a jingly little alert. After transaction fees and fluctuations in bitcoin value, my original $20 is currently worth $17.45. Now, I just have to decide where to go spend it." - Guess this idiot feels awesome by being ripped off like 15%. ??? doesn't seem too bright to me, but maybe I have the whole buy low sell high concept mixed up.

http://news.cnet.com/8301-17938_105-57619074-1/i-bought-$20-worth-of-bitcoin-at-an-atm-in-albuquerque/

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OfflineRandomFX
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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19594646 - 02/20/14 12:59 PM (10 years, 1 month ago)

:facepalm3:

"As of february 2014, Bitcoin transactions are malleable in multiple ways. This means a (valid) transaction can be modified in-flight, without invalidating it, but without access to the relevant private keys.

This is a problem for multiple reasons:

The sender may not recognize his own transaction after being modified.
The sender may create transactions that spend change created by the original transaction. In case the modified transaction gets mined, this becomes invalid.
Modified transactions are effectively double-spends which can be created without malicious intent (of the sender), but can be used to make other attacks easier.
Several sources of malleability are known:
Inherent ECDSA signature malleability ECDSA signatures themselves are already malleable: taking the negative of the number S inside (modulo the curve order) does not invalidate it.
Non-DER encoded ECDSA signatures Right now, the Bitcoin reference client uses OpenSSL to validate signatures. As OpenSSL accepts more than serializations that strictly adhere to the DER standard, this is a source of malleability. Since v0.8.0, non-DER signatures are no longer relayed already.
Superfluous scriptSig operations Adding extra data pushes at the start of scripts, which are not consumed by the corresponding scriptPubKey, is also a source of malleability.
Non-push operations in scriptSig Any sequence of script operations in scriptSig that results in the intended data pushes, but is not just a push of that data, results in an alternative transaction with the same validity.
Push operations in scriptSig of non-standard size type The Bitcoin scripting language has several push operators (OP_0, single-byte pushes, data pushes of up to 75 bytes, OP_PUSHDATA1, OP_PUSHDATA2, OP_PUSHDATA4). As the later ones have the same result as the former ones, they result in additional possibilities.
Zero-padded number pushes In cases where scriptPubKey opcodes use inputs that are interpreted as numbers, they can be zero padded.
Inputs ignored by scripts If a scriptPubKey starts with an OP_DROP, for example, the last data push of the corresponding scriptSig will always be ignored.
Sighash flags based masking Sighash flags can be used to ignore certain parts of a script when signing."

https://gist.github.com/sipa/8907691

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InvisibleRepertoire89
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Re: Bitcoin ATMs coming to the U.S [Re: ManianFH]
    #19594714 - 02/20/14 01:15 PM (10 years, 1 month ago)

Quote:

mick said:
seriously. removing anonymity is removing one of the core principles of bitcoin. but more exposure is a good thing.

i went into bitcoin at $1700, and have lost about $900 so far. for the record.




Did you go in at $1000? I'd probably change over to another crypto currency after you regain our losses, but then again if these ATMs come out BTC will probably climb higher than $1000. Right now I don't expect to see it over $900 anytime soon....
Those are just opinions / speculation though

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InvisibleA Day InThe Life
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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: Repertoire89]
    #19594916 - 02/20/14 02:07 PM (10 years, 1 month ago)

Also, there is a finite supply of bitcoins.. If they are adopted they cannot be depreciated and will only rise in value as more and more people use them BECAUSE they can't be diluted. Well they can at the moment because they haven't reached the cap, but not to the "unlimited" scale and rate that fiat money can be..


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

:print:  Free Spore Ring Canada  :print:

Edited by A Day InThe Life (02/20/14 02:13 PM)

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InvisibleDieCommie

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX] * 2
    #19595215 - 02/20/14 03:03 PM (10 years, 1 month ago)

Quote:

RandomFX said:
ya but so what, you know how many are out there, can you actually do anything about it?





Do anything about what?

Quote:

RandomFX said:and if it ever became as popular as say paper money, is anyone seriously going to ever look at how many bit coins were mined?




There are 21million bitcoins.  A little over half of them have been mined.  Its obvious you are just learning about this and are confused on how it works.  Here is a cool graph,
https://blockchain.info/charts/total-bitcoins


Quote:

RandomFX said:and who sets the prices for what you purchase things at with them? the merchants the same as anyone I presume right?





Just like all transactions, the buyer and seller agree on a purchase price or exchange rate.

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OfflineRandomFX
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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: DieCommie]
    #19596331 - 02/20/14 06:51 PM (10 years, 1 month ago)

no, the difference is people like you go off of what you are told, and people like me do not. You claim there are 21 million, because someone else is telling you there are 21 million, and the system will only allow so many to be mined every so often and will never be more than 21 million.... however, you act as if 'the people' have never been lied to before.... which is silly because it happens all the time. and for what? nothing but fiction. bit coins are fictitious. Nothing but vapor and something people made up. it isn't even air it is so fictitious. and what are you going to do if they do make more then 21 million? If the originator, who isn;t even around nor does anyone supposedly know who it really is, and owns a ton of bit coins by 'default' comes around and cashes out, he makes a fortune out of nothing but selling fools fiction. and then other fools selling it to others and just basically scamming in this huge pyramid scheme. Bitcoins are currently 'worth' according to whomever 577 dollars/megacoin. there are people over by me trying to sell them for $719. 150%. just scam after scam after scam, and it will collapse. also at any time the govt. can step in and just ban them. you are not allowed to make currency by law in this country. does anyone really trust congress not to do it one day? I wouldn't.
  I understand bitcoin. what I do not understand is the foolishness of people buying into something made of pure data and fiction. great if you are the people who make it up...not so much for the fools who will without a doubt get caught in the end after everyone is used.

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OfflineRandomFX
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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19596360 - 02/20/14 07:00 PM (10 years, 1 month ago)

Quote:

i went into bitcoin at $1700, and have lost about $900 so far. for the record.




well, if you got in at $1700 you've lost more then $900 they're at like $577 now. oops they fell another $30 or since I checked earlier evidently.

http://preev.com/

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OfflineAlan RockefellerM
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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19596486 - 02/20/14 07:37 PM (10 years, 1 month ago)

Quote:

RandomFX said:
I understand bitcoin. what I do not understand is the foolishness of people buying into something made of pure data and fiction. great if you are the people who make it up...not so much for the fools who will without a doubt get caught in the end after everyone is used.





You can read the source code and do the math yourself, and see that 21 million bitcoins are all there will ever be.

Also it would be very difficult to ban bitcoins - They would have to ban trading all virtual things, and that is ridiculous.  One government could try to ban them, but there are a couple hundred countries and it is a global currency.  The value of bitcoins will probably continue to fluctuate and rise, as the supply dwindles and more people use them.

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InvisibleSuperD
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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19596535 - 02/20/14 07:50 PM (10 years, 1 month ago)

Quote:

RandomFX said:
I understand bitcoin.




Quote:

RandomFX said:
also at any time the govt. can step in and just ban them.




That second quote directly contradicts the first.

Quote:

RandomFX said:what I do not understand is the foolishness of people buying into something made of pure data and fiction.




Welcome to the future.  People buy millions of dollars worth of virtual in-game currency and items (all made up of intangible pure data and pixels) across a wide spectrum of game genres on a daily basis.

Back around 2000/2001, I made well over $25,000 from selling in game currency and items in a couple of different games.  That cash in my bank account certainly wasn't pure data and fiction. :smirk:


--------------------
:super:D
Manoa said:
I need to stop spending all my money on plants and take up a cheaper hobby, like heroin. :lol:

Looking for Rauhocereus riosaniensis seeds or live specimen(s), :pm: me if you have any for trade

Edited by SuperD (02/20/14 08:03 PM)

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OfflineRandomFX
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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: SuperD]
    #19596770 - 02/20/14 08:51 PM (10 years, 1 month ago)

well no of course it isn't...but it is simply exploitative. I have no doubt fortunes will be made... in fact those who started it and got in early have already made tremendous fortunes. back when it first started you could get bit coins for like .30 and it has went up to like $1,000+ but it is purely a con.... I made a fortune in magic the gathering cars too and fools bought them for ridiculous prices only because they believed they were worth and told by others they were worth ridiculous prices. it may go up...or it may not and collapse too. Especially since they keep having problems and exploits and they more than likely will continue to have such. But people are getting into this saying they are against the fed and crooked banks/etc...when it is banks doing this, it is just a distributive system and they are slowly selling it off a bit by bit.

They can certainly have more then 21 million...they have bitcoin and other systems also and can have unlimited amount of other systems. If people were smart they'd just make their own and sell it to other idiots.

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19596792 - 02/20/14 08:58 PM (10 years, 1 month ago)

people should pay attention though closely. what you see is a good example of what would happen if we went back to a gold standard and also why we have the monetary system we have. notice how prices fluctuate so much with bitcoins. you can literally call a grocery store and find the cost of bread, and by time you get to the store it can fluctuate in price by 100% or more. the value of bitcoins swung over $30 today. and that makes massive instability. and when that happens it's bad. very bad. No one can make plans or be sure about anything and no one wants that, unless people try to exploit it...and if people do start to exploit it, more will try and it'll just be chaos.

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19596805 - 02/20/14 09:01 PM (10 years, 1 month ago)

Quote:

RandomFX said:
Quote:

i went into bitcoin at $1700, and have lost about $900 so far. for the record.




well, if you got in at $1700 you've lost more then $900 they're at like $577 now. oops they fell another $30 or since I checked earlier evidently.

http://preev.com/




thanks for pointing out the obvoius haha


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19596850 - 02/20/14 09:11 PM (10 years, 1 month ago)

Yeah the price per BTC can certainly go either way at this point.  BTC is still very young so it's hard to tell which way it will end up.  If it catches on in more places obviously the price will go up as Alan said but it could just as easily swing back down to mere pennies too.

For now, I'm just a spectator on the sidelines but if someone has an extra hundred or two they can afford to lose, I don't see any harm in buying up a small amount to hang on to.


--------------------
:super:D
Manoa said:
I need to stop spending all my money on plants and take up a cheaper hobby, like heroin. :lol:

Looking for Rauhocereus riosaniensis seeds or live specimen(s), :pm: me if you have any for trade

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: SuperD]
    #19597109 - 02/20/14 10:09 PM (10 years, 1 month ago)

Quote:

SuperD said:
it could just as easily swing back down to mere pennies too.




Very doubtful.

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: Repertoire89]
    #19597348 - 02/20/14 11:00 PM (10 years, 1 month ago)

Quote:

Repertoire89 said:
Quote:

SuperD said:
it could just as easily swing back down to mere pennies too.




Very doubtful.




Agreed, but entirely possible.  Price will likely still yo-yo for quite some time but I think we're past the point of it ever getting that low again, barring some bizarre chain of events.


--------------------
:super:D
Manoa said:
I need to stop spending all my money on plants and take up a cheaper hobby, like heroin. :lol:

Looking for Rauhocereus riosaniensis seeds or live specimen(s), :pm: me if you have any for trade

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: SuperD]
    #19598170 - 02/21/14 05:06 AM (10 years, 1 month ago)

well if the system becomes compromised to greater degrees, as it already has to lesser degrees (As said in the above article), then I can easily see it collapsing totally, and becoming defunct within hours as a possibility. The problem with trading something made out of the ether for physical things that are not, is if a exploit happens, the exploiter gets the physical things, while the exploited just ends up with useless ether. I wonder if insurance covers loss over a malformed bit coin transaction? I would think if policies do not specify against coverage now they surely would have to have something in the future, because the loss could be extremely dramatic. And I know with money, if you have a fake bill, you lose it, period. No one compensates you for it, they just take it, and you are out.
anyways interesting convo. good luck to those who have jumped on board, I am sure there are plenty of folks out there who will fall for almost anything so you'll be fine, just as people spent fortunes on cabbage patch dolls, pet rocks and beanie babies. But someone out there has a whole lot of this crap still after spending a bundle and is isn't worth nothing today.

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19655744 - 03/05/14 04:35 PM (10 years, 25 days ago)

"Bitcoin bank folds after hacker robbery"

http://rt.com/business/bitcoin-flexcoin-hack-closes-870/

"Within days Japan is expected to explain its approach to regulating Bitcoin, and reports suggest the government is leaning toward saying it doesn’t consider Bitcoin a currency. "~"Central banks across the globe have begun to crack down on the cryptocurrency, instructing financial institutions not to accept bitcoin because it has no legal status or monetary backing, unlike state-backed currencies. "

http://www.businessweek.com/articles/2014-03-05/why-bitcoin-might-not-count-as-money-in-japan


US is going to follow suite, in fact it already has, really. people can trade chewing gum for whatever they want, if they wish, but it's still only chewing gum to me. Others can decide it's worth 10 lbs of gold/ piece though I suppose.

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Re: Bitcoin ATMs coming to the U.S [Re: RandomFX]
    #19703075 - 03/16/14 07:11 AM (10 years, 15 days ago)

Quote:

RandomFX said:
why would anyone be for bit coin, seriously? Even the folk who 'are against the fed' are for the most part because a paper monetary system has no reality based worth backing it, ie they can just print more paper....but with bit coin, you do not even have to worry about printing it... it is pure digital and fake based on nothing but either bit's and data. People won;t even know how much it is diluted , when it is diluted, and I have to imagine it will be diluted a lot. No thanks. I just do not see the wisdom in it at all. and I'm a techie like I am sure a lot fo you are, the thought of just having a cred stick is appealing if it is in the movies, but in reality... no... without physical trading of items, we the people lose control of everything.




Bitcoin is the underbelly of the black market.  But seriously there will be stolen money from this system by the people who run it.  This previous post is correct, imo.

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Re: Bitcoin ATMs coming to the U.S [Re: encryptor]
    #19706268 - 03/16/14 09:07 PM (10 years, 14 days ago)

this past weekend ive bought a whole bunch of food in las vegas using bitcoin. pretty nice, ill probably make all those expenses up in the market this coming week


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: ManianFH]
    #19706367 - 03/16/14 09:34 PM (10 years, 14 days ago)

Nice!! Always like to hear about bitcoin, good find, keep us posted on any other BC developments.. Be well.


--------------------
:mushroom2:  "SAY SOMETHING, DO SOMETHING.. MAKE A DIFFERENCE"  :mushroom2:

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: Jake.Wizard27]
    #19798764 - 04/05/14 10:38 AM (9 years, 11 months ago)

What? did someone say Bitcoin is down to $455.30? well, yes I just did..... The only people who are 'for' bitcoin are fools who buy into the BS ideology of it, and those who want to convince others to buy it, because they want to make money off of it, or exploit it. The ideology is fake. It can be tracked, has been shown to be tracked already, and it can be confiscated by the govt. as well. and those hoping to exploit it...well thats all fine and dandy but someone is always going to be left holding the bag and paying for that exploitation. Eventually, it'll be banned altogether and then it'll crash totally to the ground. it is a ponsy scheme. that is all it is. a fake artificial worth nothing piece of ether, that someone else is convincing people is worth something so they can make money off of them by selling it to them or using it to acquire things with. I don't know how you do it...."Making love...out of nothing at all."

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Re: Bitcoin ATMs coming to the U.S [Re: RandomFX] * 1
    #19802982 - 04/06/14 10:24 AM (9 years, 11 months ago)

I agree that many of the people promoting bitcoin are doing so because it's in their best interest, but the idea of a digital currency that is easy to transfer peer to peer is revolutionary, and actually quite convenient.  Places like farmers markets, flea markets, craigslist, etc. are great examples of where bitcoin has already made things easier for peer to peer transactions. You can digitally transfer money without the need to involve credit card companies.

I think a lot of people underestimate the theory behind digital currencies.  It is actually very clever, and is based upon very sound principals and well understood.  There are many explanations of the protocols available. A background in programming and an understanding of encryption is helpful for understanding.

While I don't know if bitcoin will last, I think that the idea of digital currencies is here to stay. It's simply too good of an idea to die out.


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Re: Bitcoin ATMs coming to the U.S [Re: nasyn]
    #19806027 - 04/06/14 10:49 PM (9 years, 11 months ago)

Quote:

nasyn said:
While I don't know if bitcoin will last, I think that the idea of digital currencies is here to stay. It's simply too good of an idea to die out.




Yep.  That's exactly right.  Even if bitcoin does die out, digital currencies will be around in some form or another.


--------------------
:super:D
Manoa said:
I need to stop spending all my money on plants and take up a cheaper hobby, like heroin. :lol:

Looking for Rauhocereus riosaniensis seeds or live specimen(s), :pm: me if you have any for trade

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Re: Bitcoin ATMs coming to the U.S [Re: SuperD]
    #19808197 - 04/07/14 02:08 PM (9 years, 11 months ago)

it being digital currency isn't a super major issue. a credit card is sort of as well. I do not think anyone is arguing about there being electronic currency. The problem is there is nothing backing a bitcoin but someone claiming it is worth something,off the back of someone else claiming it is worth something and no one secures it at all. it is a hackers and thieves paradise with no hard core accountability.

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Re: Bitcoin ATMs coming to the U.S [Re: RandomFX] * 1
    #19809021 - 04/07/14 05:07 PM (9 years, 11 months ago)

Quote:

RandomFX said:
The problem is there is nothing backing a bitcoin but someone claiming it is worth something,off the back of someone else claiming it is worth something and no one secures it at all.




You claim that's a problem now (and I'm with you, it is a current issue) but for how long will that problem persist?  It's undeniable that more and more people and businesses are utilizing these currencies and growth can be seen happening on a daily basis so I think it's only a matter of time before issues such as the one you pointed out above are remedied.  One thing is certain; more and more people want digital currencies such as Bitcoin to have a place in their lives.

Quote:

it is a hackers and thieves paradise with no hard core accountability.




It's quite unfortunate but this is to be expected when dealing with the topic of any currency or market.  Hackers and thieves love credit card companies for the same reason they are attracted to digital currency.  They can and do exploit them for their own personal gain.  This won't be going away anytime soon so the best thing we can do is accept the inevitable and put as many safeguards in place as we can.


--------------------
:super:D
Manoa said:
I need to stop spending all my money on plants and take up a cheaper hobby, like heroin. :lol:

Looking for Rauhocereus riosaniensis seeds or live specimen(s), :pm: me if you have any for trade

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Re: Bitcoin ATMs coming to the U.S [Re: SuperD]
    #19810269 - 04/07/14 09:23 PM (9 years, 11 months ago)

you claim, it is growing, but that isn't true at all I do not think. it is shrinking, not growing. It grew last year, but most people realize it doesn't actually help anything really, and you are forced really into a narrow usage, compared to cash or real money which can be used anywhere. furthermore it isn't stable. you can check on the cost of something, then by time you get to the store it can cost $35 more. No one wants to deal with that crap, least of all real merchants. Sure, some people will go for anything. I mean beanie babies as was brought up earlier...and there will always be fools willing to jump on the bandwagon, but that hardly means it won't collapse. After-all, it can easily be rated at worthless as easy as it can be rated at anything else. and china and many others are already stopping it. you can literally have a few hundred thousand in it today and tomorrow not be able to get rid of it at all. In fact that is exactly what is happening. and right now it is under review in the US congress also. They are already double taxing it, and may shut it down also. After-all, it is a purchase. and it is not money. so they can easily deem it requiring sales tax, on the front end purchase and using it to purchase other items also.

people ran around thinking it couldn't be tracked even, and found out they were wrong....no telling how many other things they are wrong about also.

http://www.theregister.co.uk/2014/04/04/chinas_bitcoin_exchanges_begin_pulling_down_the_shutters/

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Re: Bitcoin ATMs coming to the U.S [Re: RandomFX]
    #19810473 - 04/07/14 10:12 PM (9 years, 11 months ago)

Quote:

RandomFX said:
you claim, it is growing, but that isn't true at all I do not think. it is shrinking, not growing. It grew last year, but most people realize it doesn't actually help anything really, and you are forced really into a narrow usage, compared to cash or real money which can be used anywhere. furthermore it isn't stable. you can check on the cost of something, then by time you get to the store it can cost $35 more. No one wants to deal with that crap, least of all real merchants. Sure, some people will go for anything. I mean beanie babies as was brought up earlier...and there will always be fools willing to jump on the bandwagon, but that hardly means it won't collapse. After-all, it can easily be rated at worthless as easy as it can be rated at anything else. and china and many others are already stopping it. you can literally have a few hundred thousand in it today and tomorrow not be able to get rid of it at all. In fact that is exactly what is happening. and right now it is under review in the US congress also. They are already double taxing it, and may shut it down also. After-all, it is a purchase. and it is not money. so they can easily deem it requiring sales tax, on the front end purchase and using it to purchase other items also.

people ran around thinking it couldn't be tracked even, and found out they were wrong....no telling how many other things they are wrong about also.

http://www.theregister.co.uk/2014/04/04/chinas_bitcoin_exchanges_begin_pulling_down_the_shutters/




Show some proof that it can be tracked bud, I've seen independent reviews stating otherwise.

For someone who hates bitcoins so much you sure got a lot to say about em.

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Re: Bitcoin ATMs coming to the U.S [Re: Repertoire89] * 1
    #19811991 - 04/08/14 08:02 AM (9 years, 11 months ago)

Quote:

For someone who hates bitcoins so much you sure got a lot to say about em.





First off I do not hate them, that is silly. And second of all, I am confused, is a person supposed to say more or less based on if they like something more/less or something?

http://anonymity-in-bitcoin.blogspot.com/2011/07/bitcoin-is-not-anonymous.html

http://cseweb.ucsd.edu/~smeiklejohn/files/imc13.pdf

http://www.forbes.com/sites/andygreenberg/2013/09/05/follow-the-bitcoins-how-we-got-busted-buying-drugs-on-silk-roads-black-market/

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Re: Bitcoin ATMs coming to the U.S [Re: RandomFX]
    #19812226 - 04/08/14 09:22 AM (9 years, 11 months ago)

Quote:

RandomFX said:
Quote:

For someone who hates bitcoins so much you sure got a lot to say about em.





First off I do not hate them, that is silly. And second of all, I am confused, is a person supposed to say more or less based on if they like something more/less or something?

http://anonymity-in-bitcoin.blogspot.com/2011/07/bitcoin-is-not-anonymous.html

http://cseweb.ucsd.edu/~smeiklejohn/files/imc13.pdf

http://www.forbes.com/sites/andygreenberg/2013/09/05/follow-the-bitcoins-how-we-got-busted-buying-drugs-on-silk-roads-black-market/




We're going to have to fight about it that's what.

Interesting articles though, thank you for providing sources. Minus the forbes one which doesn't suggest much considering the precursory information required.

*edit: I guess the cseweb is related to the forbes article, I'm too tired to be reading through this but definitely interesting.

Edited by Repertoire89 (04/08/14 09:28 AM)

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19812376 - 04/08/14 10:03 AM (9 years, 11 months ago)

This is the logistics of Bitcoin, well, some of the logistics from the last 30 days, internationally, not just in the US. which clearly show it is in retreat.# of active nodes down over 20%, volume down over 30% the bid liquidity is super high compared to the ask. That right there should make anyone worry. The spread is like 40% the ask. (Bid and ask is in a nutshell is the minimum a person will sell for compared to amount others will pay for. IE someone would buy a US dollar for $1, and they would sell a US dollar for $1.No spread typically, or maybe they would sell for a few cents more for their trouble, and buy for a few cents less. Money, since it is money generally should have a really really thin spread. Liquidity is the amount of bids to ask's offered, or how much one can do one without changing the value. you could for instance buy $500,000 US dollars and the value wouldn't change at all.) and it is clear by the low # of transactions honestly, that no one really uses bitcoins at all.about 50-70,000/day. and it isn't really going up that much at all. It hit 57,000 transactions back in jul 2012. The problem is, with it changing value so quickly, those who bought it for higher don't want to spend it, but if they don't spend it, it just get's dusty really, especially since it is pure ether and has no real value, so drops in value. It's really just a field of the worse volatile commodity ever, waiting for fools in musical chairs to see who is the next one to be left out when the music stops.

Infrastructure Bitnodes # Active Bitcoin Nodes -3185 -20.30%
Financial Bitstamp Volume (BTC) 666 -34.93%
Financial Bitstamp Asks Liquidity -108469 -18.39%
Financial Bitstamp Bids Liquidity -140430 19.94%
Financial Bitstamp Price (USD) 6 -18.34%
Consumer Blockchain Est. Trans Volume 4573 -16.63%
Consumer Blockchain Ttl Bitcoins Circ. 3750 1.03%
Consumer Blockchain # Of Transactions 15370 -0.03%
Consumer Blockchain Ttl Trans Fees 5 -1.23%
Consumer Blockchain My Wallet Trans V
Consumer Blockchain Ttl Trans Fees 5 -1.23%
Consumer Blockchain My Wallet Trans Vol -10256
Consumer Blockchain My Wallet # Trans/day 3900
Consumer Blockchain Ttl Output Volume 5827 -25.19%
Consumer Blockchain Cost % of trans vol 0 9.58%
Financial BTC China Volume (BTC) -745 -55.84%
Financial BTC China Price (CNY) 5 -27.96% Financial BTC-e Price (USD) -11 -21.03%
Financial BTC-e Volume (BTC) -1702 -38.51%
Consumer CampBX Num Members 21 4.47%
Financial CampBX Price (USD) 0 -16.09%
Financial Coinbase Price (USD) 1 -18.31%
Merchants Coinbase Num Merchants 0 13.80%
Financial Coindesk Price (USD) 0 -19.62%

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Re: Bitcoin ATMs coming to the U.S also have another blue oyster bucker and a wellington bucket,6 q [Re: RandomFX]
    #19812540 - 04/08/14 10:38 AM (9 years, 11 months ago)

It does look bad, at this point I'm done investing in BTCs unless they can stay stable. Have broke even so far.

Still think it has potential use for the black-market which isn't a very safe industry in any direction. Curious how things will pan out more for the sake of news than personally

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