Slovenian Bitstamp was hacked ~1 weeks ago:
[quote]
On January 5, 2015, the leading bitcoin exchange Bitstamp announced that one of its operational wallets had been breached.
"As a security precaution against compromises, Bitstamp only maintains a small fraction of customer bitcoins in online systems," the company said in a statement. "Bitstamp maintains more than enough offline reserves to cover the compromised bitcoins."
In the meantime, Bitstamp asked all customers not to make deposits to previously issued bitcoin deposit addresses, and suspended its services pending an investigation of the breach. "We will return to service and amend our security measures as appropriate."
The company also stated that the stolen funds amounted to "less than 19,000 BTC."
[/quote]
Src:
[url]http://www.esecurityplanet.com/network-security/bitcoin-exchange-bitstamp-hacked.html[/url]
Everyone mocked me, but you'll see. The bubble will burst, and I'll be the one laughing.
[url]http://vimeo.com/114190446[/url]
[QUOTE=DeeCeeTeeBee;46912721]Everyone mocked me, but you'll see. The bubble will burst, and I'll be the one laughing.[/QUOTE]
We are not on any bubble currently. You have no idea what you are talking about.
[QUOTE=HJ23;46912773]We are not on any bubble currently. You have no idea what you are talking about.[/QUOTE]
Isn't bitcoin an awfully volatile storage of wealth, and a pretty disappointing investment over the past year?
[QUOTE=Snowmew;46912850]Isn't bitcoin an awfully volatile storage of wealth, and a pretty disappointing investment over the past year?[/QUOTE]
Its a currency
waiting for Dogecoin to have a bubble, but as bit coin goes to crap, thats not good for it either.
Just waiting for the price to drop immensely so I can by at least over 5 million doge.
[QUOTE=Tsanummy;46912903]Its a currency[/QUOTE]
A horribly unsafe currency
who cares, its not like anyone actually uses the bitcoin
[QUOTE=barrab;46913264]who cares, its not like anyone actually uses the bitcoin[/QUOTE]
you're kidding
[QUOTE=DeeCeeTeeBee;46912721]Everyone mocked me, but you'll see. The bubble will burst, and I'll be the one laughing.[/QUOTE]
The bubble has been slowely leaking and deflating.
[QUOTE=BusterBluth;46912994]A horribly unsafe currency[/QUOTE]
So it's Bitcoin's fault that exchanges get hacked? What?
How is this dumb? Do any of you even know that this doesn't have anything to do with the security of Bitcoin itself?
[QUOTE=Snowmew;46912850]Isn't bitcoin an awfully volatile storage of wealth, and a pretty disappointing investment over the past year?[/QUOTE]
It's value bounces up and down faster than a hooker in the lobby of a hotel hosting a bunch of senators.
[QUOTE=Tsanummy;46912903]Its a currency[/QUOTE]
Its an investment, pretending otherwise is just raw optimism
[QUOTE=soccerskyman;46912601][IMG]http://puu.sh/eqKj3/2cf80e9281.png[/IMG]
shiiiiit[/QUOTE]
I love watching the backpedaling over at /r/bitcoin right now. All those fools who told themselves this wasn't a bubble are now posting "EVERYONE REMMEBER! HODL! PROTECT MY BOTTOM LINE!"
I never understand the Bitcoin hate, lets disregard the price for a second. The whole concept of Bitcoin is simply amazing, you can send money anywhere in the world for next to no transaction fee instantly.
No banks or other payments processors can offer what Bitcoin does for the same price and same security because you are in control of your Bitcoin unless you hand over the power to someone else such as Bitstamp in this case.
[QUOTE=King Penisless;46913783]I never understand the Bitcoin hate, lets disregard the price for a second. The whole concept of Bitcoin is simply amazing, you can send money anywhere in the world for next to no transaction fee instantly.
No banks or other payments processors can offer what Bitcoin does for the same price and same security because you are in control of your Bitcoin unless you hand over the power to someone else such as Bitstamp in this case.[/QUOTE]
Which is great because you dump $5 into Bitcoin for lunch, and by the time you've walked to the restaurant, it's worth only $4... but it [i]might[/i] be worth $10! And don't forget, if you were smart, it would have been worth $50,000 in unredeemable currency that you couldn't cash out.
[QUOTE=King Penisless;46913783]I never understand the Bitcoin hate, lets disregard the price for a second. The whole concept of Bitcoin is simply amazing, you can send money anywhere in the world for next to no transaction fee instantly.
No banks or other payments processors can offer what Bitcoin does for the same price and same security because you are in control of your Bitcoin unless you hand over the power to someone else such as Bitstamp in this case.[/QUOTE]
Most hate comes from ignorance - lack of understanding what it is, rest comes from some anger that was raised when people couldn't get on train to make lots of money so they justify it with hate, and rest comes from people who lost money on it. Others just follow.
[editline]13th January 2015[/editline]
[QUOTE=Snowmew;46913948]Which is great because you dump $5 into Bitcoin for lunch, and by the time you've walked to the restaurant, it's worth only $4... but it [i]might[/i] be worth $10! And don't forget, if you were smart, it would have been worth $50,000 in unredeemable currency that you couldn't cash out.[/QUOTE]
No, it is not THAT volatile. It will get more stable with time, it is a new market, give it some time.
That you couldn't cash out? Uh, you are ignorant. You can cashout Bitcoin with PayPal, bank account, paysafecard, moneypack, skrill, gift cards, face-to-face exchange, check, echeck, okpay, perfectmoney, wire, moneygram, western union, neteller, interac, payoneer, reloadit, credit card, webmoney, liqpay, etc. Do you need more?
[QUOTE=King Penisless;46913783]I never understand the Bitcoin hate[/QUOTE]
It's cause people are kicking themselves for not getting in while it was profitable.
[QUOTE=Snowmew;46913948]Which is great because you dump $5 into Bitcoin for lunch, and by the time you've walked to the restaurant, it's worth only $4... but it [i]might[/i] be worth $10! And don't forget, if you were smart, it would have been worth $50,000 in unredeemable currency that you couldn't cash out.[/QUOTE]
Just like how your $5 USD dumped into say GBP could be worth £4 now (it's not, only £3.30), and by the time you've had lunch, it could drop down to £2, but it could go up to £6!
You can literally replace USD or GBP with any other currency, tangible or not, and this argument would apply still.
[QUOTE=Snowmew;46913948]Which is great because you dump $5 into Bitcoin for lunch, and by the time you've walked to the restaurant, it's worth only $4... but it [i]might[/i] be worth $10! And don't forget, if you were smart, it would have been worth $50,000 in unredeemable currency that you couldn't cash out.[/QUOTE]
What is investing. Also you can cash out your bitcoins easily if you sell it low.
[QUOTE=King Penisless;46913783]I never understand the Bitcoin hate, lets disregard the price for a second. The whole concept of Bitcoin is simply amazing, you can send money anywhere in the world for next to no transaction fee instantly.
No banks or other payments processors can offer what Bitcoin does for the same price and same security because you are in control of your Bitcoin unless you hand over the power to someone else such as Bitstamp in this case.[/QUOTE]
The thing that banks and other payment processors of other currencies offer though is insurance (unless it's an uninsured bank but what are you even doing putting your money there).
If someone steals my credit card/login info or I buy from a seller that never delivers, I can still get that money back by opening up a case against the transaction. I'm not entirely sure if there are Bitcoin wallet sites that let you make chargebacks between accounts but Bitcoin not being able to do this is a fairly substantial issue if it wants to be a currency.
[QUOTE=SPESSMEHREN;46913734]I love watching the backpedaling over at /r/bitcoin right now. All those fools who told themselves this wasn't a bubble are now posting "EVERYONE REMMEBER! HODL! PROTECT MY BOTTOM LINE!"[/QUOTE]
"TEN YEARS FROM NOW IT'LL BE WORTH MILLIONS!"
[QUOTE=wickedplayer494;46914072]Just like how your $5 USD dumped into say GBP could be worth £4 now (it's not, only £3.30), and by the time you've had lunch, it could drop down to £2, but it could go up to £6!
You can literally replace USD or GBP with any other currency, tangible or not, and this argument would apply still.[/QUOTE]
Imagine thinking that top world power currencies fluctuate their value like this in the 10 minutes it takes to get lunch, and it's like a casual event.
Hell why not invest in Bitcoin. All currencies are made equal after all. It isn't like a hundred years, billions of economic variables across time, and the billions of tons of physical entities on the planet in the name of the coin grant a currency its staying power. No, we can simply say it's all the same on a conceptual level and absolve ourselves over responsibility for investing in shit.
[QUOTE=wickedplayer494;46914072]Just like how your $5 USD dumped into say GBP could be worth £4 now (it's not, only £3.30), and by the time you've had lunch, it could drop down to £2, but it could go up to £6!
You can literally replace USD or GBP with any other currency, tangible or not, and this argument would apply still.[/QUOTE]
The volatility between USD and GBP is [i]far[/i] less than between USD/GBP and BTC. Pushing $5 to £4 is obviously missing the point because you can just bump £4 back into $5.
Change over the past year:
[IMG]http://puu.sh/erjx1/3bb5b318ed.png[/IMG]
Over the past month:
[IMG]http://puu.sh/erk8r/27e513e118.png[/IMG]
To say that Bitcoin is, at the moment, a worthwhile currency is an incredible joke.
[QUOTE=sparky28000;46914112]What is investing. Also you can cash out your bitcoins easily if you sell it low.[/QUOTE]
If you're investing in Bitcoin long-term, you got shafted. If you're day trading, you could make much more on the plain old stock markets.
problem with bitcoin is lack of regulation. the US Dollar doesn't tank every quarter because there are hundreds if not thousands of financial institutions meant to protect it. Bitcoin is just stock in a non-existent company that has no products
[QUOTE=proboardslol;46914320]problem with bitcoin is lack of regulation. the US Dollar doesn't tank every quarter because there are hundreds if not thousands of financial institutions meant to protect it. Bitcoin is just stock in a non-existent company that has no products[/QUOTE]
I forget exactly who said this, but I remember seeing a tweet a while ago that was something along the lines of "[I]The best part about Bitcoin is watching Libertarians rediscover why we have financial regulations in the first place.[/I]"
[QUOTE=BusterBluth;46912994]A horribly unsafe currency[/QUOTE]
"Gas station robbed, over 1k lost"
wow who fuckin uses us dollars bububbles gonna come up erryone drowning in their loony investment i only judge my wealth in gold bullion i hide in my underwater vault
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