• 🇬🇧󠁿 🇸🇪 🇿🇦 🇮🇪 🇬🇭 🇩🇪 🇪🇺
    European & African
    Drug Discussion

    Welcome Guest!
    Posting Rules Bluelight Rules
  • EADD Moderators: Pissed_and_messed | Shinji Ikari

EADD Bitcoins 2

I imagine most of the vendors and buyers will want to sell there btc for the time being as there is nothing to do with them (unless they want to move to SR2 which apparently isn't great), so prices will go down
 
Doesn't roulette still account for the vast majority of BC usage? In which case the drug markets going down would have minimal effect on the exchange rate (which is only being manipulated by the exchanges anyway)?
 
StoneHappyMonday said:
Doesn't roulette still account for the vast majority of BC usage? In which case the drug markets going down would have minimal effect on the exchange rate (which is only being manipulated by the exchanges anyway)?
Click to expand...

Tbh I've just realised I have no idea what btc is spent on outside of drugs. I bet gambling sites would love people using btc because they don't have a physical form people can grasp they might be more careless with it. It's bad enough using sterling for online gambling, I'm definitely more willing to spend money that's on my account than if I were playing with cash.

Anyone any ideas what caused the first crash (before SR shut down)?
 
Bought £75 worth of BTC

Gonna invest £25 on FTC, and £ 50 on LTC, almost guaranteed to make money off that
 
Just found my old blockchain address, crazy it shows you how much it was worth at the time and now...

Last transaction

9.89789437 BTC ($ 9,650.45)

Value at time of transaction $ 132.62


10.12436054 BTC ($ 9,871.25)

Value at time of transaction $ 119.57


The bubble seems to be slowing anyway...
 
litecoins value increased tenfold in the last month.. why the fuck did not i go on with the idea of buying some? This is pure speculation, but I might gamble 100 € or the suchlike..
 
apparently nobody has gotten paid from litepool.eu for a little bit now, how fucking convenient right? I knew something was up when it got to 1.6 ltc and still no dice, no way could i have mined .6 of em before the auto payout kicked in.

so that's like a hundred+ dollars I'll probably never get back

and while you can always say "coulda, shoulda, woulda" about this shit, I only look at it as fun and nothing more. I didn't build these computers to mine coins, I just happened to have a computer capable of it. I knew litecoin was gonna go up eventually, I just got impatient.

mendo I feel you on the old transactions, looking at like transfers of 10 btc and youre just like "aahaughasdjguyafgvgqfgvqFUCK"

but like I said, all of this is gravy to me. and btc is just the first coin, nothing lasts forever. With all the Tor sites going up and down, I feel like its only a matter of time before the proliferation of those kinds of sites that take alt coins takes place. If Litecoins are worth 30-40 dollars, people are going to want to spend them on something.

or maybe they'll always trade them for bitcoins, I really have no clue anymore. It makes more sense to just use LTC considering it transfers markedly faster and there are more in existence so there's less of a disparity between early users and new investors but if there's nothing to spend it on, just gonna wind up like another betamax
 
China has banned its banks from handling transactions involving the Bitcoin virtual currency.

The ban came in a notice issued by the People's Bank of China, financial watchdogs and the nation's IT ministry.

The ban was imposed because bitcoins were not backed by any nation or central authority, said the notice.

It added that it was planning to step up its efforts to curb the use of bitcoins to launder cash.
Click to expand...

http://www.bbc.co.uk/news/technology-25233224
 
Suspected Bitcoin fraudsters have been taken into police custody in Germany and China.

The German authorities say they arrested two people following an investigation into malware that generated the virtual currency by infecting its victims' PCs.

Xinhua reports three people have been detained in China after a trading platform was shut without warning, cutting off investors from their funds.

The cases do not appear to be related.
Click to expand...

http://www.bbc.co.uk/news/technology-25217386
 
The Chinese announcement isn't really bad though, nobody is calling bitcoin a proper currency now. They've called it a commodity and said banks should not be involved but it's still a green light to use it as you would gold, for example.
 
bitcoin botnet has a nice ring to it

I didnt read the article because my phone is weird like that but if its just malware that installs some kind of mining software onto the computer were talking like fractions of pennies for each computer they infect

but my first impression was that they found a way to actually "counterfeit" bitcoins, which would really fuck everything up and was impossible afaik. either way, youve all probably seen the movie office space

fractions of pennies coming from large amounts of people, common scam regardless of the currency
 
Transform said:
The Chinese announcement isn't really bad though, nobody is calling bitcoin a proper currency now. They've called it a commodity and said banks should not be involved but it's still a green light to use it as you would gold, for example.
Click to expand...

I thought the USA government had classified it as a "legitimate currency" seeing asthe FBI had a fortune lying in wait for them.
 
Last edited:
http://www.theguardian.com/technology/2013/dec/05/bitcoin-digital-currency-wall-street-strategist

Bitcoin has been endorsed by a Wall Street currency analyst who has claimed it shows "clear potential for growth", apparently contradicting an earlier warning issued by the Chinese central bank has banned its financial institutions from dealing in the currency.

In a detailed research note, David Woo of Bank of America Merrill Lynch argues that "bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers".

Assuming bitcoin does achieve that maturity, Woo argues that the fair value of one bitcoin should be around $1300 - higher than it has ever been before, but still significantly short of some of the larger estimates made for the currency.
Click to expand...

Other Wall Street analysts are not so kind, however.

Steven Englander, a currency strategist at Citi bank, also released a research note on the currency, in which he argued that the technological benefits of bitcoin are too easy to copy and use to create new currencies for bitcoin itself to have value.

"Unlike fine art," Englander wrote, "bitcoin can be replicated exactly or close to it. Say in response to overwhelming demand for bitcoin, someone created nitcoin… We will see big speculative swings as different ‘coins’ are created and move in and out of fashion."

This week, the Dutch, French and Chinese national banks have all issued warnings against using Bitcoin. The Bank of France released a report calling the currency "highly speculative" and saying it poses a "certain financial risk" for owners.
Click to expand...
 
You must log in or register to reply here.
Top