Bitcoin


#1705

Huge cryptojacking campaign earns just $24 for hackers – Guardian


#1706

It broke one extremely steep downtrend. Get excited if it can stay over 11500.


#1707

I have about 10 Satoshi worth of bitcoins.
Fortunately or unfortunately as the case may be the rest of the market broadly tracks bitcoin price at the moment so it doesn’t really matter.
Writing off bitcoin is a fools errand.


#1708

Yes


#1709

Doesn’t look like the current crop of crypto investors are doing badly to me, myself included.


#1711

State run broadcaster does hatchet job on Bitcoin and cryptocurrencies. Who saw this coming? :unamused:


#1712

Hatchet job is right but par for the course.
Search cryotocurrencies and bitcoin it’s always 90% negative news.


#1713

crypto-currency fan responds to criticism with ad-hominem attack/dismissal. Who saw this coming? :laughing:


#1714

Let children handle your money in an unregulated manner, shure what can go wrong?
theregister.co.uk/2018/02/1 … ase_error/

It’s claiming it hasn’t been hacked. Fat chance…


#1715

Lots more info here, talk of the subreddit: reddit.com/r/CoinBase/

Interesting discussion on Buttcoin subreddit too: reddit.com/r/Buttcoin/comme … bout_what/

If you have a CoinBase account it might be worth delinking your credit cards / bank accounts anyway, however that doesn’t protect from this particular problem. The recharges seem to be based on reprocessing older transactions (like a transaction edit), so all the info is there already.

Also be interesting to see if CoinBase refund any overdraft and other fees people may incur as a result:
theverge.com/2018/2/15/1701 … ed-charges

Though this is getting big now, this bit is mind-blowing to be honest (my bold-face):

From YM’s link:

Some reddit speculation that this would be sufficient to provide cover for a hack (i.e. that you’d be blamed for having self-exposed your details, so if your account was compromised it would be hard to argue case that it was the exchange’s fault).


#1716

and remember, it’s coming up to the time of year again…
reddit.com/r/Buttcoin/comme … d_and_get/


#1717

Just because your Monolopy money coins and tokens are on an upswing it doesn’t give them any more inherent value. Yes your Ether tokens could go from $900 to $9,000 or even $90,000 in this climate of feverish speculation with its motley collection of gamblers, shysters, anarchists, financially illiterate “investors”, dodgy exchanges and true believing “hodlers” and the like but that doesn’t mean that these tokens shouldn’t have a value closer to $9 each, actually being realistic about any inherent potential they have. Take your profits out as one can never know what day the collapse of faith will come.


#1718

It gives it the value that is the going rate on the market.

So.
Much.
Butthurt.


#1719

Apart from a speculation vehicle, what is Bitcoin ever going to be used for? It’s slower, more expensive, harder to use and more public than a credit card, so there is no motivation to use it for money. So what is the use case for it?


#1721

Your signature should be changed to this.

Fail, to understand, and Lose.

Because you are consistently losing money standing on the sidelines cribbing and moaning haha.

You’ve probably been waiting on Bitcoin to fail for seven years.

Ever get to thinking you might be wrong.

Lol


#1722

Making a lot of money for holders.

Being the first and most recognised unhackable decentralised worldwide tradeable digital currency has tremendous value.
There are six factors listed there that combine to give it value.


#1723

Please don’t identify yourself /break anonymity in-thread


#1724

I can never seem to get an answer as to what Bitcoin is actually going to be used for.

By design Bitcoin has a minimum transaction time of 10 minutes; a regular transaction will always take more than 10 minutes. Typically it is taking an hour to make a transfer from one wallet to another, and it regularly goes up to a day. Try buying a Latte in the morning using Bitcoin that takes an hour to pay for it and see how that works out.

Again, what is the use case for Bitcoin? What is it actually going to be used for other than a speculation vehicle?


#1725

I just gave you six factors as to why Bitcoin has value. You ignored them all.
Why do you think gold has value even though its difficult and very expensive to extract from the ground, it’s soft and malleable , it’s too expensive to use for many use cases and there are other metals that can do what it does at a much cheaper cost?

Now think about coca cola versus other colas.

I’m trying to help you out here by explaining that it’s sheer notoriety , being the first to spawn an industry , it’s widespread holdings worldwide, it’s proven real world resistance to hacking over seven years already and it’s rarity and absolutely fixed and known supply are VALUABLE aspects of Bitcoin (and many in society agree as evidenced by its fiat value increase over the years).


#1726

I’ve asked what is it actually going to be used for. Gold is used to make phones, jewelry. Coke is used to make you fat. What is Bitcoin going to be used for? I can’t think of a single thing that it can be used for except as a speculation vehicle.