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Who Stole $400 Million From Mt. Gox?
- Thread starter HardOCP News
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Shhhhhh ... don't tell ... I am finishing the last part of trademarking the new unicurrency
Now that you've said it, someone probably will actually trademark it...
Kind of like believing someone talking about unicorns and thinking they were talking serious and being technical. Maybe you need to go defecate and release some of that anger...
B00nie
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The only losers in this are the fools who trade real money into monopoly notes like cryptos that have no real world value. Someone will cash that money out and walk out a winner, the rest of the folks just waste electricity and time 'mining' fools gold
The results provided by folding are worth something. In fact, there have been actual results from WCG... So not just good feelings, but actual real results that turn into potential cures for deadly diseases. That's worth something for society.
No, this again as in bitcoin being primarily used for illegal activities. Educate yourself or continue coming across as heavily ignorant on modern day transactions.
I think that because the unregulated nature of it is attractive for those types of activities, that it's easy to assume that the majority of transactions are illicit, when in fact they are not. But that still doesn't detract from the fact that it is more attractive than regulated currencies for illegal activities.
The only losers in this are the fools who trade real money into monopoly notes like cryptos that have no real world value. Someone will cash that money out and walk out a winner, the rest of the folks just waste electricity and time 'mining' fools gold
Value is entirely derived from what people are willing to give to get it.
We live in a digital world, is it really that asinine to think that a digital currency can't coexist? No one is saying the USD is going away...
I think people are more scared then anything. Perhaps resistant because of how it's created initially. Once it's circulated and can be earned through what we term "regular" jobs, then it'll be more accepted. But it may be awhile before it gets there.
Exactly! It's just easy to make that assumption because of that unregulated aspect of it. Without researching, it's easy to think that bitcoin=the currency of the black market or something. Not that it is at all.
kbrickley
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I think we can have a valid disagreement on currency being the preeminent problem that needs a technological solution though
Folding is used to solve diagnostic and other problems that could potentially benefit the entire human race ... I don't see the value of a global crypto currency ... if all the time, money, and effort spent acquiring crypto currency was directed at actual problems who knows what solutions might present themselves ... that said, crypto currency miners have the same right to waste time and resources as anyone else in the world does
I think we can have a valid disagreement on currency being the preeminent problem that needs a technological solution though
Folding is used to solve diagnostic and other problems that could potentially benefit the entire human race ... I don't see the value of a global crypto currency ... if all the time, money, and effort spent acquiring crypto currency was directed at actual problems who knows what solutions might present themselves ... that said, crypto currency miners have the same right to waste time and resources as anyone else in the world does
Speaking of DC and bitcoin, there is a project that has something to do with acquiring cryptocurrency for donation to projects and things that need it. I'll have to dig up what it's called though, it's named in a guide in the DC forum though.
Parja
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Thanks for confirming that your original argument is invalid.
No, but in most banks around the world you could take that 100 yen and convert it to a local currency in a matter of minutes to go buy that apple ... a cryptocurrency is a little tougher to convert into a non-cryptocurrency (both logistically and geographically)
Let me know when you're ready to race. I'll start with $5 worth of BTC and you start with $5 worth of Yen. Unless you live next door to a bank, I'd bet you that $5 that I can have mine converted to dollars before you do. Shit, I don't even have to put on pants.
CreepyUncleGoogle
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I really wish you would put on pants. It's upsetting my kitty.
But anyhow, how does the amount of time it takes to convert bitcoins and yen relate at all to the scandals, theft, and awful stuff people do with BTC?
I'm amazed at how many of you have no understanding of the US dollar, where it comes from and why it has any worth at all and have no understanding of how bitcoins are generated or why they have value.
It comes off as ignorance or jealousy when you take such a blind negative stance that people are investing in this currency.
It comes off as ignorance or jealousy when you take such a blind negative stance that people are investing in this currency.
kbrickley
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Let's try this experiment a different way ... we are standing in a market in the Democratic Republic of Congo ... I have five crisp 100 dollar bills and you have the equivalent in BTC ... let's see which of us can purchase the conflict gold faster that the child soldier is trying to sell ... or since we would both likely end up dead in that scenario we can nogotiate for a hooker in Bangkok ... let's see which of us concludes our purchase first
You do realize that people like myself can understand perfectly what bitcoin is and what its meant for, yet still do not care or appreciate its existence for a problem that doesn't exist. I don't have a problem per say with crypto currencies, its the unregulated mess they cause as well as wasted electricity. And by unregulated I'm talking about the exchanges, not the bitcoin/network itself. Go ahead call me a hater, ignorant or whatever you want but those are the facts as I see them.
CreepyUncleGoogle
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True, but I think that bitcoins are basically made to be used for sinister stuff which is exactly what's been going on at that silk road site for bajillions of years and it's a good thing it was shutdown.
Let's try this experiment a different way ... we are standing in a market in the Democratic Republic of Congo ... I have five crisp 100 dollar bills and you have the equivalent in BTC ... let's see which of us can purchase the conflict gold faster that the child soldier is trying to sell ... or since we would both likely end up dead in that scenario we can nogotiate for a hooker in Bangkok ... let's see which of us concludes our purchase first
So the argument is comparing one currency that has been around for over a 100 years to one that is very much in it's infancy (roughly 3 years).
...and all the electricity that goes into the servers that maintain and process credit card transactions is free I'm sure.
And just like the silk road, there are hundreds (if not thousands) of other sites online where people are buying/selling illegal stuff for any sort of government printed currency (i.e. cash).
Retronym
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Bitcoin allows you to move a crap load of money with an infinitesimal transaction fee. Online stores keep more of their money, the person spending bitcoins keeps more of their money. Its an improvement in online payments across the board.
LOL...not even close. One server processing thousands of cc transactions vs a power draining crypto network that doesn't even need to exist in the first place...come on, that argument is getting really fucking old.
SunnyD
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I can convert BTC to USD in about 30 seconds without my ass leaving my chair.
So can Xi Liu half a world away.
Which sounds easier? Your way or my way?
Where do you get this from? I'm genuinely asking. Is it any more than a rustling in your jimmies, or do you think that the Silk Road was the only place to exchange Bitcoins for goods in the entire world? Because...it isn't. That link has been hefty since three years ago when I was first mining them. The market has existed for a while.
Retronym
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Its actually really important that bitcoin mining not be located on one centralized server. Really, really important.
See guys? There's just ONE server that processes thousands of cc transactions, but there's an entire NETWORK of power draining crypto mining hell machines.
That one server must be pretty beefy. Also legitimate comparisons FTMFW!
There isn't just one centralized cc processing server as well...that's just as important.
See guys? There's just ONE server that processes thousands of cc transactions, but there's an entire NETWORK of power draining crypto mining hell machines.
That one server must be pretty beefy. Also legitimate comparisons FTMFW!
Dear lord, you know what I meant...wtf are you 12?
And how long until those actual funds are available?
kbrickley
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Sure ... why not ... crypto currency seems to serve no purpose other than eliminating the national dependency on currency (it is unclear to me if BTC or any other crypto currency can service the needs of 7 billion+ residents of this planet) ... I would agree that a non national currency (like the credits of Star Trek) is desirable but we must fix the issue of nationalism first ... we need all 7 billion of us aligned with a common goal (space exploration would be my choice) before we get the benefit of global currency ... if crypto currency will allow the alignment of the 7 billion residents behind a single economic system then I would support it fully
nvgrim
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Why the hell do you keep saying this shit. Before BTC there were tons of darknet sites that used other forms of currency. BTC has been around since 2009 and SR is a lot newer than that,so quit acting like this has been going on since the dawn of the internet. BTC was never intended to be used solely for illegal things.
I think we can have a valid disagreement on currency being the preeminent problem that needs a technological solution though
The pre-eminent problem? Sure, I'll agree with you that it's not top priority. However, so what? If something isn't the number one problem that needs a technological solution, it should be shut down, or what?
Besides, the majority of dollars these days only exist electronically. Technological currency is already here. Fuck, Paypal is technically a currency now.
Folding is used to solve diagnostic and other problems that could potentially benefit the entire human race ... I don't see the value of a global crypto currency ... if all the time, money, and effort spent acquiring crypto currency was directed at actual problems who knows what solutions might present themselves ... that said, crypto currency miners have the same right to waste time and resources as anyone else in the world does
The value of folding is as obsequious as the value of a new currency. You can't really point to any accomplishment made possible through folding. You can make conjecture on how much time was saved due to donated cycles, but then you have to put a price on the time. Either way, folding hasn't helped produced any cures or tangible products. I'm not saying that folding doesn't have its benefits, but those benefits are all potential. The same could be said of any currency. Any currency that has value has the potential to provide a means of capital by which quality of life can be improved for one or more people. A lot of people love the "money is evil" trope but ultimately, the best things in life that we take for granted were made possible through the movement of value.
Sure ... why not ... crypto currency seems to serve no purpose other than eliminating the national dependency on currency (it is unclear to me if BTC or any other crypto currency can service the needs of 7 billion+ residents of this planet) ... I would agree that a non national currency (like the credits of Star Trek) is desirable but we must fix the issue of nationalism first ... we need all 7 billion of us aligned with a common goal (space exploration would be my choice) before we get the benefit of global currency ... if crypto currency will allow the alignment of the 7 billion residents behind a single economic system then I would support it fully
You can solve nationalism in one way and one way only: kill everyone not part of a selected nation.
There will never be a one-world empire. It's impossible. Cultural differences. Language barriers. Racial hatred. Geographic complications.
There WILL be non-national currencies, but there will be a lot of them, all competing, just like governments are as they currently try to smear cryptocurrency to preserve the trust in their own currencies.
Parja
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... or since we would both likely end up dead in that scenario we can nogotiate for a hooker in Bangkok ... let's see which of us concludes our purchase first
You go ahead and conclude your purchase. That's a dude.
But seriously, ask me that question again in a few years. There's already Bitcoin ATMs sprouting up and more and more retailers are accepting Bitcoin all the time.
No, it's not just "one server"... it's the needing to have floors or servers, let alone multiple locations w/ employees (yes, all that is needed to run and process your card transactions).
dood, u no wat he ment. cnt u reed? lol. u r 12, rite?