Ahh man bitcoin is failing... im so sad... lol

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tangoseal

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I just got this email. I dont know why the hell I get these but I dont waste my power bill on this stuff.

Anyways my goal is not to piss off or denigrate bitcoin miners. Although the fact I hate the very existence of this because it made me wait like 3 1/2 months to get my 6990 due to amd card whores, I will extend this letter I received to you.

BTC is bound to fail. No one supports it as vendors, except a few, and the currency is not recognized by anyone that offers product and services of real value. It is not going to take off because the people in charge are not handling the necessary security and insurance protections that normal FIAT currency systems absolutely require. Hope the excessive power bills paid off for some of you while it could. Now sell your Radeons for dirt cheap so we can start un-whoring them from your community.

Anyways here is the email...

message body


Dear Mt.Gox user,

The last week has shaken the confidence of the bitcoin community as a whole. Thanks to news of MyBitcoin.com collapsing with an as yet undisclosed amount of bitcoins (now in receivership), and a critical technical problem that resulted in the loss of 17,000 BTC from Bitomat.pl (bitcoin's 3rd largest exchange), the price of bitcoin has dropped into single digits for the first time since May.
Full news: https://www.mtgox.com/press_release_20110811.html

Thanks,
The Mt.Gox team
 
I've been trying to understand how this system even works... guess it did not work, that's the problem. :p

From my understanding, people can "mine" for them, then buy IRL stuff with it? I can't see how any company would want to accept a virtual currency that can be mined.
 
theres a thread for BC, use it
 
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