Bitcoins worth $87,000 plundered in brazen server breach - Polidicks

Would've been around 500k if this happened last summer when 1 bitcoin was worth $30 at its best.

[QUOTE=Hattiwatti;35930902]Would've been around 500k if this happened last summer when 1 bitcoin was worth $30 at its best.[/QUOTE] And if all those bitcoins were cashed in at once, the market would almost crash. That's happened before.

[QUOTE=SPESSMEHREN;35929813]like what?[/QUOTE] child slaves, black market arms, the services of perfect, supple kathoey. bitcoins, what you need, when you need it [editline]12th May 2012[/editline] [QUOTE=Van-man;35930229]So is most other currencies. Since they only exist in digital form on a bunch of computers. The money on your credit card? Well it's only worth something as long as other places accepts it. If they don't, well sucks to be you. Same with bitcoins, a group of people and companies accepts it as a currency, and therefor it's worth something.[/QUOTE] but again the only companies that accept it as trade are shitty little online coffee vendors and .tor websites [QUOTE=Van-man;35931041]And if all those bitcoins were cashed in at once, the market would almost crash. That's happened before.[/QUOTE] HMMMMMMM its almost as if bitcoins are a less valid form of currency because of the fact that their value is unregulated and supported only by internet randroid speculator wannabe neckbeards

[QUOTE=Van-man;35930229]So is most other currencies. Since they only exist in digital form on a bunch of computers. The money on your credit card? Well it's only worth something as long as other places accepts it. If they don't, well sucks to be you. Same with bitcoins, a group of people and companies accepts it as a currency, and therefor it's worth something.[/QUOTE] Except, you know, nearly no actual free market business actually accepts a bogus currency like bitcoins, one not accepted as a national currency by ANY nation, therefore has little baring on the actual world's economy. Yes money is virtual due to credit cards and all that, but at least that virtual money is recognized as having worth.

even though the concept of this happening is kinda cool, the stuff thats going to be purchased with these bitcoins is probably fucking horrible

Remember when 1BTC was at like $30? It crashed hard and is more stable now but still not stable enough to be used as currency imo. I really regret not having a good pc when bitcoins were created. Back then you could have made thousands of dollars just by having your pc on overnight.

[QUOTE=Clementine;35931227]Except, you know, nearly no actual free market business actually accepts a bogus currency like bitcoins, one not accepted as a national currency by ANY nation, therefore has little baring on the actual world's economy. Yes money is virtual due to credit cards and all that, but at least that virtual money is recognized as having worth.[/QUOTE] Bitcoins are recognized by some sellers and service providers. They're a valid for of exchanging one item(bitcoins) for another. Just like real money.

[QUOTE=AceOfDivine;35931268]Bitcoins are recognized by some sellers and service providers. They're a valid for of exchanging one item(bitcoins) for another. Just like real money.[/QUOTE] Except it's not real money and can't touch real money, so all in all it's a bullshit concept. it's the same as trading hats, basically. It just seems stupid and needed. Yes, it can have benefits, but why go through all that extra trouble for some pixel money?

[QUOTE=AceOfDivine;35931268]Bitcoins are recognized by some sellers and service providers. They're a valid for of exchanging one item(bitcoins) for another. Just like real money.[/QUOTE] Some is the key word here

[QUOTE=J!NX;35931314]Except it's not real money and can't touch real money, so all in all it's a bullshit concept. it's the same as trading hats, basically. It just seems stupid and needed. Yes, it can have benefits, but why go through all that extra trouble for some pixel money?[/QUOTE] you DO realize a alarmingly high amount of money is currently digital? You can't touch that, unless you go down to your bank and make a withdrawal. And if said banks IT system breaks down completely, well you're fucked.

[QUOTE=Van-man;35931342]you DO realize a alarmingly high amount of money is currently digital? You can't touch that, unless you go down to your bank and make a withdrawal. And if said banks IT system breaks down completely, well you're fucked.[/QUOTE] I'm talking about PURELY digital money like bitcons, you do realize I know this right now but USD is far more universal than pixal hats and bitcoins? It's a bullshit concept because it's trying to be universal and digital at the same time, it's not for a single game, or anything. Sure, if we had only credits as money that's all digital, but that's kind of different because you can use it as a card in the real world, not just online.

lmao theres no such thing as "real money" people accept it as payment for goods and services, it's fungible, therefore it's currency nothing has any kind of intrinsic worth, it's relative to the seller and purchaser

And now the value of bitcoins will plummet when people realize they're untraceable and just as easy to steal as any other data.

[QUOTE=Used Car Salesman;35931536]And now the value of bitcoins will plummet when people realize they're untraceable and just as easy to steal as any other data.[/QUOTE] Ordinary data is easy to steal because the user of said data is a moron when it comes to security. Even large corporations are often completely retarded when it comes to data security. For one of the biggest example yet, look at Sony.

I love Bitcoins, because they make headlines like these happen. It's a shitty system, filled with flaws, and the only reason the current client is at least slightly secure is because some things haven't been implemented, and if you implement those in your own client, shit breaks down. But hey, if people can get straight-out currency from hacking a server, hell yeah, go for it.

What are bitcoins?

You know how Star Trek has credits? It's like those. And like in Star Trek, all you can use them for are drugs.

[QUOTE=DainBramageStudios;35931516]lmao theres no such thing as "real money" people accept it as payment for goods and services, it's fungible, therefore it's currency nothing has any kind of intrinsic worth, it's relative to the seller and purchaser[/QUOTE] Welcome to humanity, giving meaning to things that don't actually have one, but that doesn't mean it isn't real.

[QUOTE=J!NX;35931314]Except it's not real money and can't touch real money, so all in all it's a bullshit concept. it's the same as trading hats, basically. It just seems stupid and needed. Yes, it can have benefits, but why go through all that extra trouble for some pixel money?[/QUOTE] Most of the world's currency is virtual you dumbass.

lol this was a rip off

[QUOTE=Beafman;35929779]Considering that quantum computers are only some decades away, security problems will be a thing of the past, because it will break every single code faster than the speed of light...[/QUOTE] This is ironic because one of the only things quantum computers is good for is breaking passwords, because the whole of quantum computing is based on Shor's algorithm, and quantum computers can't do things like real math. So you're never going to have a quantum computer in your house, unless you're a hacker, in which case you'll be utilizing them for cracking people's security. It's for this reason that we should continue to focus on developing things such as dual factor authentication and randomized salt for security systems.

[QUOTE=Jetblack357;35932859]Most of the world's currency is virtual you dumbass.[/QUOTE] "Real money" in my regards is a national / state currency. Not internet money for people that want to be different. Actual money you work for. Obviously it's all virtual. I think I've been miswording things horribly.

As bad as this.. It's really fucking cool how these can be stolen just like a vault of cash in real life.

i really feel bad for all the deepweb pedophiles, drug dealers, and gun dealers who lost all their money

[QUOTE=nmagain;35933026]i really feel bad for all the deepweb pedophiles, drug dealers, and gun dealers who lost all their money[/QUOTE] The U.S. Dollar is crashing, too. I'm glad that all the drug dealers won't have any paper money to use now!

Anyone remember those really indepth articles on the deepweb where they talked about how they made children into sex toys? There was one that wasn't that detailed but was barf inducing and one that was quite detailed but was just disturbing at best.

[QUOTE=Sharker;35931797]What are bitcoins?[/QUOTE] A made-up currency that gives geeks an excuse to build rigs with 4 high-end GPUs.

[QUOTE=nikomo;35933085]A made-up currency that gives geeks an excuse to build rigs with 4 high-end GPUs.[/QUOTE] Who needs an excuse?

Hmm, you can have 4 people killed by a hitman for that much. I wonder how many multiple amputee sex slaves you can purchase with that much.

If only Mondex had caught on.....