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The end of Bitcoin or take over by Big Money

JR Ewing

JR Ewing

MuscleHead
Nov 9, 2012
1,329
420
I wonder how much money has been lost with that between the volatility of the instrument itself and the thefts and other problems now going on. And I wonder how many thought they'd be overnight billionaires if they put most or all of their $ into it and are now regretting it? :D
 
Lizard King

Lizard King

Administrator
Staff Member
Sep 9, 2010
14,533
7,974
Sorry, I forgot to add to make this a tangible item Lizard Bucks will have an exchange rate with Chuck E Cheese tokens and Geoffrey bucks from Toys R Us. The exchange rate with have a tax payable to me through PayPal or in the form of Omaha Steak gift certificates.
 
Zomb131

Zomb131

MuscleHead
Jan 31, 2011
1,125
264
bitcoin is still strong, 1 bitcoin = $500USD
 
P

prime

TID Board Of Directors
Dec 31, 2011
1,178
254
Considering beginning of 2013 it was $13
 
scotchindn

scotchindn

VIP Member
May 10, 2012
92
4
I hope to hell it works for a few more days! I placed a decent sized "order" yesterday afternoon about 3 hours before the poop hit the fan. Still waiting on follow-up communication.......
I am not a patient Indian!
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,996
1,672
I am involved in cryptos. I am mining scrypt based coins. (Mainly litecoin which is like the 'silver' of cryptos, bitcoin being gold). This mess is tanking the entire market. I think it will all sort out over time, but Gox is missing 780,000 bitcoins. ($600,000,000 pre crash value).

Lots of theories, but it could be the result of inside manipulation...tanking the exchange and buying up all the coins cheap. (like shooting fish in a barrel since they froze bitcoin withdraws)

In the end, this is good for me as the LTE:BTC ratio has gone up about 15% even though the overall value is down with bitcoin. If and when things go up, litecoin is poised to make some nice gains.

Also in litecoins favor is the fact that it is not subject to the malleability issue that Gox is blaming on the Bitcoin losses. Litecoins network is much faster at verifying transactions.
 
graniteman

graniteman

MuscleHead
Dec 31, 2011
6,133
1,556
Sorry, I forgot to add to make this a tangible item Lizard Bucks will have an exchange rate with Chuck E Cheese tokens and Geoffrey bucks from Toys R Us. The exchange rate with have a tax payable to me through PayPal or in the form of Omaha Steak gift certificates.
Well sheeit! That sounds like a pretty damn good deal. Where do I sign?

big banks are laughing

Yea, as they are in the end, the ones who will be depositing these ''lost funds'' into their coffers.
 
Zomb131

Zomb131

MuscleHead
Jan 31, 2011
1,125
264
I am involved in cryptos. I am mining scrypt based coins. (Mainly litecoin which is like the 'silver' of cryptos, bitcoin being gold). This mess is tanking the entire market. I think it will all sort out over time, but Gox is missing 780,000 bitcoins. ($600,000,000 pre crash value).

Lots of theories, but it could be the result of inside manipulation...tanking the exchange and buying up all the coins cheap. (like shooting fish in a barrel since they froze bitcoin withdraws)

In the end, this is good for me as the LTE:BTC ratio has gone up about 15% even though the overall value is down with bitcoin. If and when things go up, litecoin is poised to make some nice gains.

Also in litecoins favor is the fact that it is not subject to the malleability issue that Gox is blaming on the Bitcoin losses. Litecoins network is much faster at verifying transactions.

I don't understand how bitcoins go "missing." I've seen a few videos on youtube on how bitcoins work. Each user mining coins verifies the transactions on the bitcoin network; thus, ensuring every user mining has the correct amounts.

IMO bitcoin value will continue to rise back to what it was. People have so much money invested in home miners or shares in mining.
 
graniteman

graniteman

MuscleHead
Dec 31, 2011
6,133
1,556
I am involved in cryptos. I am mining scrypt based coins. (Mainly litecoin which is like the 'silver' of cryptos, bitcoin being gold). This mess is tanking the entire market. I think it will all sort out over time, but Gox is missing 780,000 bitcoins. ($600,000,000 pre crash value).

Lots of theories, but it could be the result of inside manipulation...tanking the exchange and buying up all the coins cheap. (like shooting fish in a barrel since they froze bitcoin withdraws)

In the end, this is good for me as the LTE:BTC ratio has gone up about 15% even though the overall value is down with bitcoin. If and when things go up, litecoin is poised to make some nice gains.

Also in litecoins favor is the fact that it is not subject to the malleability issue that Gox is blaming on the Bitcoin losses. Litecoins network is much faster at verifying transactions.

Mac, do you mine at home or are employed\own a mining firm? If at home how many coins can you mine per month with how many computers?
 
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