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Sun Wukong
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PostPosted: 09:25 - 19 Jan 2018    Post subject: Reply with quote
Saw this…

…Loled
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Last edited by Sun Wukong on 11:32 - 19 Jan 2018; edited 1 time in total
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Ste
Not Work Safe



Joined: 01 Sep 2002
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PostPosted: 10:37 - 19 Jan 2018    Post subject: Reply with quote
Wink

https://cdn.bcf.44bytes.net/files/fb_img_1516254662168.jpg
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Ste
Not Work Safe



Joined: 01 Sep 2002
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PostPosted: 10:58 - 19 Jan 2018    Post subject: Reply with quote
The higher the demand for something, the higher the price goes. There are many other factors that influence the price of bitcoin.

Bitcoins can't be divided any more or less in the future than they can be now.

The smallest amount of bitcoin is one Satoshi which is 0.00000001 BTC.
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The Artist
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PostPosted: 11:24 - 19 Jan 2018    Post subject: Reply with quote
mpd72 wrote:
Doesn't the value of Bitcoin go up, the more people buy into it, or does it go down? I thought it was a finite amount and the more people buy in, the more it gets divided around?

With the recent media hype over it, the number of people with the currency must have gone up massively in the last month, as the value plummeted.

It's been all over the papers, news and I've even heard competitions giving away Bitcoin.


Yeah but indirectly. The value is just whatever someone will pay at a particular time. It doesn't match perfectly with how many people want it.
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Sun Wukong
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PostPosted: 11:40 - 19 Jan 2018    Post subject: Reply with quote
This is a comment from a guy I work for sometimes, who asked me for financial advice (after I quoted Borgies banana quip).

Quote:
12.1.17
I put a discreet amount of money in with a view to holding for 20 years. It’s an investment for the kids. If it works out, it will be a lot better than a post office bond or premium bonds or whatever. I am occasionally tempted to move between coins but can’t be bothered. Too much like betting on greyhounds. I’m sticking with BTC and ETH for now. Could cash out on a 350% gain but would be gutted if I missed another healthy jump.


I advised him to take out his initial investment asap, and then treat the rest as a gamble. Doubt he listened.

Once the hype dies down, the correction is going to be savage... Laughing
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Pjay
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Joined: 18 Jan 2016
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PostPosted: 12:41 - 19 Jan 2018    Post subject: Reply with quote
Sun Wukong wrote:
Once the hype dies down, the correction is going to be savage... Laughing


What if this is nowhere near the beginning of a bubble?

The recent price drops and recoveries show it's resilience, I don't see that it will do anything other than what it has always done.

Showing charts over a few weeks isn't really showing much of the story.
The price now is higher than it was at the start of December, and much higher than it was in August 2017. All that chart does is show that there was a lot of money pumping into Bitcoin and leaving again when news of regulation in China and Korea was announced. Bitcoin is and has proven to be incredibly resilient, as it has a global market. Governments may well put restrictions in place, but people soon realise that governments cant actually stop you moving Bitcoins around as you wish. Nobody can.

Everyone seems to come out of the woodwork stating that they knew it was all a bubble and all over, the minute BTC drops 20%. Then when it rises 20% they come out screaming again about how they are right and that it's all a pyramid scam and that it's unsustainable. They get to have a great defence whatever.

In the meantime, if you purchased Bitcoin this time last year, you'd be pretty fucking happy with its performance, even if it halved in price.

If you joined in December, chill out, it will be 50k soon enough.
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The Artist
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PostPosted: 12:11 - 20 Jan 2018    Post subject: Reply with quote
mpd72 wrote:

It just seems an odd coincidence that the press have been all over Bitcoin over the last 4 weeks and during this time, the value has pretty much halved.


The press has been all over it because of the run up in November and December. Lots of new millionaires also want to sell some of their holding to enjoy life a little before the bitcoin revolution where they won't need to sell for £/$.


/s
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Rogerborg
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Joined: 26 Oct 2010
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PostPosted: 13:35 - 20 Jan 2018    Post subject: Reply with quote
Pjay wrote:
What if

https://i.imgur.com/oKst7bq.png
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Rogerborg
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PostPosted: 19:05 - 22 Jan 2018    Post subject: Reply with quote
Actual spam received today wrote:
Good Morning my victim.

I m a member of the crew of hackers in Vietnam. I use your corp mail because I think that you always visit it.

Last month my crew put the virus on web-site with porn and when you clicked on a play your system began shooting your screen and using cam to cop you masturbating. As a result I believe you realize which evidence do I have. Also, this software caused your device act as dedicated server with plenty of abilities as keylogger,parser etc. To sum up, my soft collected all information,particulary all your contacts from messengers,mails,social networks.

To safe your reputation you should pay 280 $ with bitcoin. I know that you have this sum. It is Bitcoin wallet for payment - 16LYKuD2WQ7cwszYcbyzT5CmXLJ78UZUnj

[and so on]

Oh, now we see the blackmail inherent in the blockchain. Come and see the blackmail inherent in the blockchain!
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Jewlio Rides Again LLB
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Joined: 06 Oct 2015
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PostPosted: 19:17 - 22 Jan 2018    Post subject: Reply with quote
Rogerborg wrote:
Actual spam received today wrote:
Good Morning my victim.

I m a member of the crew of hackers in Vietnam. I use your corp mail because I think that you always visit it.

Last month my crew put the virus on web-site with porn and when you clicked on a play your system began shooting your screen and using cam to cop you masturbating. As a result I believe you realize which evidence do I have. Also, this software caused your device act as dedicated server with plenty of abilities as keylogger,parser etc. To sum up, my soft collected all information,particulary all your contacts from messengers,mails,social networks.

To safe your reputation you should pay 280 $ with bitcoin. I know that you have this sum. It is Bitcoin wallet for payment - 16LYKuD2WQ7cwszYcbyzT5CmXLJ78UZUnj

[and so on]

Oh, now we see the blackmail inherent in the blockchain. Come and see the blackmail inherent in the blockchain!


Wasn't this the WannaCry niche, like, years ago?

Not catching you knocking one out to furries, obvs. The payment schedule.
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Pjay
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Joined: 18 Jan 2016
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PostPosted: 19:51 - 22 Jan 2018    Post subject: Reply with quote
Rogerborg wrote:
Oh, now we see the blackmail inherent in the blockchain. Come and see the blackmail inherent in the blockchain!


What has the blockchain got to do with a poor attempt at blackmail?

He wants to be paid in BTC, that is not a system fault...

Roger is like your nan when she first held a computer mouse and thought it was a mic.
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Rogerborg
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Joined: 26 Oct 2010
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PostPosted: 20:04 - 22 Jan 2018    Post subject: Reply with quote
Pjay wrote:
What has the blockchain got to do with a poor attempt at blackmail?

Hey, I'm just jacked that I've finally found a service provider who will accept BTC.


Pjay wrote:
Roger is like your nan when she first held a computer mouse and thought it was a mic.

Was your nan bypassing RSA secured handshakes with MITM attacks long about '92? Because that would be hot.

I'm not techphobic, but I can game the sums and come up with zero.
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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Pjay
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PostPosted: 20:13 - 22 Jan 2018    Post subject: Reply with quote
Rogerborg wrote:
Hey, I'm just jacked that I've finally found a service provider who will accept BTC.


You do realise that most criminals still deal in cash money though right?
I'd imagine the ratio wouldn't even be 9999:1

But that's irrelevant, because you want it to be.

OMFG this guy just sold stolen bike for pound notes!!!

Not quite so sensationalist is it?
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Pjay
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PostPosted: 20:18 - 22 Jan 2018    Post subject: Reply with quote
Rogerborg wrote:
Was your nan bypassing RSA secured handshakes with MITM attacks long about '92? Because that would be hot.


She might be a 1337 H4x0r, I've never asked.
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asta1
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Joined: 03 Dec 2015
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PostPosted: 20:20 - 22 Jan 2018    Post subject: Reply with quote
Pjay wrote:
Rogerborg wrote:
Hey, I'm just jacked that I've finally found a service provider who will accept BTC.


You do realise that most criminals still deal in cash money though right?
I'd imagine the ratio wouldn't even be 9999:1


Whilst this is definitely tue, I thik the point Roger was trying to make is that a significant proportion of BTC acceptors are criminals.

This isn't true for cash.

The relevant ratios in this case would be to compare

Number of legit vendors: number of criminal vendors

for each 'currency', or even

% of BTC transaction activity which is criminal: BTC transaction activity.

Either way, I dont' think BTC would come out smelling of roses.

That said, it doesn't necessarily mean that there is a problem with the product or the concept, just that a higher than baseline proportion of early adopters are using it for illegal purposes. That is surely not up for debate? Even on here many would have gotten into it to source illegal substances from Silkroad et al.
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Pjay
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PostPosted: 20:28 - 22 Jan 2018    Post subject: Reply with quote
asta1 wrote:
Whilst this is definitely tue, I thik the point Roger was trying to make is that a significant proportion of BTC acceptors are criminals.


Really?

You do realise there are over 300,000 transactions on the BTC blockchain per day?

I'm not sure where you are getting your figures from, but I've only heard of a few reports of criminal activity regarding BTC in the last 6 months, I'm pretty sure it would be all over the news if even .5% of those 300k were proven to be criminal.
It's not all over the news and BTC has shaken off it's silkroad reputation, which by the way, in it's peak there were only 6k total transactions a day on the BTC blockchain.

It's widely known that criminal use has dropped off severely since then, so unless you can offer some citations to prove your outlandish claims, I will suspect they came from the ether.
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Rogerborg
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PostPosted: 20:37 - 22 Jan 2018    Post subject: Reply with quote
Pjay wrote:
cash money pound notes!!!

Wut? We're mostly discussing bitcoin on this thead.
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Ste
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Joined: 01 Sep 2002
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PostPosted: 20:41 - 22 Jan 2018    Post subject: Reply with quote
"HM Revenue and Customs (HMRC) is today (20 December 2017) warning the public about a high-profile phone scam that is conning vulnerable and elderly people out of thousands of pounds.

The scammers are preying on victims by cold calling them and impersonating an HMRC member of staff. They tell them that they owe large amounts of tax which they can only pay off through digital vouchers and gift cards, including those used for Apple’s iTunes Store.

Victims are told to go to a local shop, buy these vouchers, and then read out the redemption code to the scammer, who has kept them on the phone the whole time. The conmen then sell on the codes or purchase high-value products, all at the victim’s expense."

https://www.gov.uk/government/news/hmrc-issues-christmas-warning-about-itunes-gift-card-scam
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Pjay
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PostPosted: 20:45 - 22 Jan 2018    Post subject: Reply with quote
Ste wrote:
"HM Revenue and Customs (HMRC) is today (20 December 2017) warning the public about a high-profile phone scam that is conning vulnerable and elderly people out of thousands of pounds.

The scammers are preying on victims by cold calling them and impersonating an HMRC member of staff. They tell them that they owe large amounts of tax which they can only pay off through digital vouchers and gift cards, including those used for Apple’s iTunes Store.

Victims are told to go to a local shop, buy these vouchers, and then read out the redemption code to the scammer, who has kept them on the phone the whole time. The conmen then sell on the codes or purchase high-value products, all at the victim’s expense."

https://www.gov.uk/government/news/hmrc-issues-christmas-warning-about-itunes-gift-card-scam


Those pesky cards, I knew they were bad.
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Rogerborg
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PostPosted: 21:04 - 22 Jan 2018    Post subject: Reply with quote
The root problem there is that the sheeple have gotten used to having money extorted out of them with menaces by a ruthless mob.

Once we all use Bitcoin, the fascists will be out of business, amirite? Power to the sheeple!
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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The Artist
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PostPosted: 22:44 - 22 Jan 2018    Post subject: Reply with quote
Rogerborg wrote:
The root problem there is that the sheeple have gotten used to having money extorted out of them with menaces by a ruthless mob.

Once we all use Bitcoin, the fascists will be out of business, amirite? Power to the sheeple!


No
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Rogerborg
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Joined: 26 Oct 2010
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PostPosted: 23:21 - 22 Jan 2018    Post subject: Reply with quote
The Artist wrote:
Rogerborg wrote:
Once we all use Bitcoin, the fascists will be out of business, amirite? Power to the sheeple!

No

But yeah.
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

Last edited by Rogerborg on 09:43 - 23 Jan 2018; edited 1 time in total
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Jewlio Rides Again LLB
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PostPosted: 00:56 - 23 Jan 2018    Post subject: Reply with quote
Currently renting out my hash power, projecting to make ~$6 a day. Such win Thumbs Up
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Old Thread Alert!

The last post was made 6 years, 88 days ago. Instead of replying here, would creating a new thread be more useful?
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