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Bitcoin Price Crashes After Exchange Admits Security Breach, Over $60 Million Stolen

Discussion in 'Digital Currencies' started by platinumdude, Aug 2, 2016.



  1. Joe King

    Joe King Gold Member Gold Chaser

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    As I said, you obviously don't understand the difference betwixt the two.
    ...and there is no "central authority" for BTC. If there were, it could be shutdown ala napster. Instead, it's open source.
     
  2. Poorman

    Poorman Seeker

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    Right because one organization doesn't control the major price movements and when they happen...

    It is fun to say betwixt though isn't it?

    Care to address all my other "ignorant" claims of similarities?

    I fully understand all the "on paper" claims that Bitcoin is decentralized.

    The banking system breathes in and out.

    Sadly though, Bitcoin stopped being decentralized when they outsourced who determined what they are worth.

    Without those centralized exchanges Bitcoin would be worthless in the eyes of it's fickle adopters.

    "The people" could have moved slower and let the world determine its worth but instead they are acting no different than any other stock on a stock exchange.

    Move fast and get rich quick all while burning anyone willing to become part of the sacrificial liquidation pool.
     
    the_shootist likes this.
  3. solarion

    solarion Gold Member Gold Chaser

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    I'll give it a shot. Not that your post is worthy of much attention...it's mostly just a meaningless word salad.

    Are you on any prescription medication?
     
    Mujahideen likes this.
  4. Poorman

    Poorman Seeker

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    Lol

    Lets see how long it would take for history to repeat itself...

    https://en.wikipedia.org/wiki/Federal_Reserve_Note
    But you already knows what happens after.

    Bitcoin and it's ecosystem go beyond 21 million BTC.

    Way beyond.

    Here let me familiarize you with a list that you know of:

    http://coinmarketcap.com/currencies/views/all/
    690 bullshit thin air currencies priced by centralized exchanges.

    And Bitcoin is mined by large mining farms which one could argue is basically centralized mining.

    If that is not something materializing out of thin air I don't know what is.

    All backed by fiat to boot!

    So fiat currencies backed by BTC that is backed by fiat.

    Can I have the drugs you are on?
     
    Malus likes this.
  5. Poorman

    Poorman Seeker

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    Also, do I get a prize for being the 80th and 84th post in this thread?

    :couple:
     
  6. stonedywankanobe

    stonedywankanobe Gold Member Gold Chaser

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    A few years back there was a fellow DsMustaing (nice dude) who posted here trying to sound the horn on bitcoin. They were 8 bucks each at the time and many here felt they were already vastly overvalued and convinced me to stay away.
    Biggest fucking mistake I've ever made.
    I was too caught up in the excitement of buying 28 buck silver after it dropped from 32 which to this point stands as the second biggest mistake I ever made.
    Point is, I want a do over.
     
    Scorpio likes this.
  7. Unca Walt

    Unca Walt Midas Member Midas Member

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    Gotta agree witcha, Stonedy.

    There's several guys here who really must be hammering their toes with steel mallets in penance for NOT listening to their Unca Walt.

    Back in Jan, 2014, Bitcoin "worth" skyrocketed like mad. It went from $130 to $1,300+

    I BEGGED a half-dozen guys here to SELL HALF their Bitcoins, and buy PM's. Gold was at $1,200.

    I PLEADED with the people here to COLLECT THEIR ORIGINAL BUY-IN <-- This was right there on the table for everybody to see.

    But. Not. One. Did.

    "If it's going up, it's gonna go up more."

    I haven't a clue as to how to work this site's archives (or even if there are any), but I am confident that ALL those I was begging to absolutely risk-free double/triple/quadruple their wealth by dumping half the Bitcoins and going PM with the fiat they'd have in hand remember.

    Then, of course, a year later, Bitcoin was at $201.

    Sooo... here is the investment results for NOT listening:

    Bought at $130.

    Blips to TEN FARGIN TIMES that price in a giddy spike. Unca sez: "If you sell half your Bitcoins, you will STILL have a 500% ROI in one year even if you threw the cash you got for them in the stank. But if you buy PM's with the OTHER 500% ROI, you will be completely out of the game and playing with The House's Money."
     
    stonedywankanobe likes this.
  8. Poorman

    Poorman Seeker

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    [​IMG]
     

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