EADD Bitcoins 2

[trammies]

I had a nosy the other day at that place and the posts are still happening, just in other forums. Still full of scammers though.

Aye, I noticed some threads in my Local Forum (fucking Location Services ), but they get closed down much much quicker, it seems.

 

[Kronos]

Every now and then the blocckchain gets overloaded and transfers are delayed ( dont know the technical details), its nothing to worry about


^@ Trammies, meant to post that hours ago but forgot to click the button

 

[Raasyvibe]

I was just browsing through the darknet marketplaces and was shocked to see stolen credit cards and weapons for sale. This is when the darkweb becomes very wrong and more likely top get media and police/government attention. I've made this point before.

BUT I was pretty impressed that one of those sites that was in the news recently, does not do stolen credit cards or weapons. It's nice to have some ethic on a site. I don't use these sites, but if i did I would certainly not use or trust any site that sells stolen cards and weapons.

 

[Uncle Robert]

I'm shocked you were shocked.

Fuck knows who would pay for a stolen credit card, they would be canceled well before anything could happen.

 

[Shambles]

I don't use these sites, but if i did I would certainly not use or trust any site that sells stolen cards and weapons.

I wouldn't want to use a site like that either. Not so much a trust issue (although I'm sure that kinda stuff must bring extra heat) but more cos I don't consider drug use to be a crime so would rather avoid associating with actual criminality as far as is possible.

 

[trammies]

^@ Trammies, meant to post that hours ago but forgot to click the button

No bother at all, mate.

@raas The stolen credit cards, weapons and explicit images of children will sadly always be a part of the Deep Web. I mean there's links for the third-mentioned on the Hidden Wiki, itself. It genuinely makes my stomach turn that they're even there.

The Cleaned Hidden Wiki is handy, it's basically a copy of the Wiki with all the awful stuff removed.

 

[Raasyvibe]

fuuuuuuuuuuckkkk.... they've gone down to £365 on local bitcoins now. Is everyone panic selling? They've not been this low in many months

 

[swampdragon]

I wouldn't want to use a site like that either. Not so much a trust issue (although I'm sure that kinda stuff must bring extra heat) but more cos I don't consider drug use to be a crime so would rather avoid associating with actual criminality as far as is possible.

Yeah, same here. I'm not keen on supporting the sale of dubious stuff like weapons and dodgy porn. :/

 

[ColtDan]

I'm shocked you were shocked.

Fuck knows who would pay for a stolen credit card, they would be canceled well before anything could happen.

Indeed, it aint surprising theres weapons on there

Somebody told me they saw contacts for hitmen for hire and shit

 

[Raasyvibe]

All transactions leave a permanent record that's traceable to specific wallets.

http://money.cnn.com/2014/02/19/technology/security/bitcoin-black-market

Those who currently use bitcoins to buy drugs, weapons or hire assassins also have something else to worry about. All transactions leave a permanent record that's traceable to specific wallets. Even though Bitcoins are technically anonymous, if they ever pull that money out in their name at a legitimate Bitcoin bank or exchange, law enforcement has a direct connection to a real identity.

That's why Weaver says bitcoins are essentially "prosecution futures."

Bitcoin tracing experts are already cropping up -- and they're teaming up with law enforcement too. Sarah Meiklejohn is a computer scientist and graduate student at the University of California in San Diego, where she explores how people are spending their bitcoins.

She said people spending bitcoins in black markets don't realize "every bitcoin is by nature a marked bill." And it's not as forgiving as actual cash. If police catch you buying something illegal in person, you get criminal charges for that single act. Bitcoin's permanent, public ledger gives prosecutors a much longer memory.

"if you get caught buying drugs with bitcoins and they look at your transaction history, you get caught on every transaction you've ever made," she said. "It's much more serious."

---

Bitcoin? It's not just online! Britain's first physical shop where virtual currency can be bought opens in London
Shop is the first in Europe where the e-currency can be bought

http://www.dailymail.co.uk/news/article-2562854/Bitcoin-Its-not-just-online-Britains-physical-shop-virtual-currency-bought-opens-London.html

People hand over money and are issued with a 16-digit code so they can access their digital currency online
Entrepreneur Akin Fernandez claims currency will be used by the world's poorest who don't have bank accounts to pay for goods online in future
Bitcoin value has fluctuated wildly as it is a virtual currency.........................................


........Normally it can take weeks to set-up an account and purchase the digital currency over the internet - but Akin Fernandez simply prints off a voucher so they can be accessed immediately.

The user then enters a 16-digit code and the Bitcoins are transferred to the designated virtual wallet within 70 seconds.

---

DefCon = Definite Con
Did Silk Road steal the at $2.7 million in funds from users?

http://money.cnn.com/2014/02/19/technology/security/bitcoin-black-market/

Silk Road's new administrators said hackers exploited a Bitcoin glitch to steal funds. But in the days since the attack, it's become painfully clear that the Bitcoin system isn't to blame. Only two scenarios exist, says Andreas Antonopoulos an engineer at Bitcoin wallet service Blockchain: Silk Road's leaders were fooled into emptying all their accounts willingly, or they simply swindled their customers themselves

 

[BecomingJulie]

Actual round or seven-sided pieces of shiny metal are still the best form of payment (if your definition of "secure" includes preferring to lose the money and the goods rather than be associated definitively with either). Even banknotes have serial numbers. For situations where you can't meet face-to-face, a blank postal order purchased by an expendable volunteer from a busy urban post office is probably as good as you're going to get.

 

[th3 s1aught3r]

Someone told me there are special computer processors that are built to mine Bitcoin. They are like supercharged , thousands of times the speed of a regular computer processor, only job they do is mine Bitcoins. Is this bullshit or true ?
On the same note, what is the relative cost to revenue. No doubt these machines are very expensive, then theres the cost of running them, electricity etc... so the income from mining the bitcoins, especially if the price falls, could be marginal ?

 

[shimazu]

theyre called ASICs

and that term can apply to more than just Bitcoin, people are starting to create them for Scrypt based coins as well but it is an inherently harder process by design

whether they are a good or bad thing depends on who you ask, and how long ago they ordered and received theirs

 

[Kronos]

If you had a ASIC mining rig used for bitcoins, surely you could tweak it to mine litecoins or nother currency with a much smaller pool, and you'd come out with half a million or something of these coins in a day since you're contributing so so much of the whole pool. I say litecoin cause thats the most likely to rise, and my whole post is based on semi-random guesses. No fact. No sir-ee.

I sold to btc to someone on lbc earlier but the money never showed up, she says it must be coming through in the morning and apologised and its def possible, one of my banks (hsbc) does this every so often, but then displays a huge warning page 'are you sure you want to go ahead with this cause they will not recieve until the morning'. They were with halifax though, anyways, now i'm stuck without monies or btc
Was halg conisdering i was being scammed by some secret auto-finalization feature but i knwo theres not one of those in lbc yet (i hope)

 

[shimazu]

yeah you just swap out the flux capacitor and dont cut the BLUE WIRE and much profit for scrypt coins with bitcoin asics

aka

no

 

[BecomingJulie]

An ASIC is an Application Specific Integrated Circuit. A custom chip. It does one thing and one thing only, and does it extraordinarily well because no time or silicon is wasted on frivolities such as the ability to do other things.

All virtual currencies are "mined" by, essentially, solving mathematical equations; you could, in theory, mine bitcoins with pencil and paper. In a coin-mining ASIC, the equations are baked into the structure of the chip. Contrast this with a microprocessor; which has a set of simple general-purpose instructions such as MOVe, add, logical AND, INCrease, bit SET and RESet and so forth, which can be combined in various ways to produce complex programs.

Converting a Bitcoin-mining ASIC rig to mine litecoins would be similar to converting a wind-up gramophone to play CDs.

 

[shimazu]

its all just a bunch of numbers replacing previous numbers and now inspiring a slightly different process for creating new sets of numbers

A lot of people like to compare Btc/Ltc to Gold/Silver respectively due to there being 4 times as many possible Ltc created compared to Btc. Only problem is what I just said in the first sentence, its just a bunch of numbers.

If everyone who currently uses Bitcoin switches to Litecoin for obvious reasons, there's nothing giving Bitcoin value. Its like writing the words "1 Million Dollars" on a piece of paper and claiming it is actually worth that. Nothing backs it, which is by design. But that is also what will be its downfall imo.

And the majority of people who even know what either of these coins are could probably care less how much theyre worth because whatever you buy is always going to be the same price as what youd be paying in your normal currency.

That's like buying yourself a gift card to Target with cash just to turn around and buy an economy sized container of buttwipes at the same Target.

just plain stupid, unless theyre super secret butt wipes you can only get with a Target gift card, then it makes sense

 

[BecomingJulie]

Even gold and silver only have value because people say they do.

The only hard currency is the kilowatt-hour.

 

[knock]

Even gold and silver only have value because people say they do.

The only hard currency is the kilowatt-hour.

Gold is actually useful, it has applications in electronics, for example, which make it desirable for reasons other than "looks pretty". Whether looking pretty is a "use" is subjective, but a lot of people do find gold useful.

In other words, gold does have a use-value, not just an exchange-value. Bitcoins have no use-value. So I understand gold as currency a bit better than I understand bitcoins as currency. Mind you, maybe having a use-value is not a positive feature for a currency. You don't want people using your "store of value" for something else, perhaps irretrievably, or only retrievable at great expense, because then you're losing value from the economy.

Also it's no trivial task to mine gold and convert it into bullion. So whoever has the means to obtain gold from the soil might say with some justification that the gold represented their power.

 

[th3 s1aught3r]

Regular currency has no intrinsic value either other than what the market gives it. If Bitcoin became widely used as a form of electronic currency, then it might work
How is the Bitcoin valued ? Is there some sort of an exchange ?