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bitcoins

Must suck to have millions of dollars of it stolen from places like Mt. Gox...and then knowing they'll never pay you back.
 
HappyHighwayman said:
Must suck to have millions of dollars of it stolen from places like Mt. Gox...and then knowing they'll never pay you back.
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I feel for those folks but you are an idiot if you let the exchanges hold your coins. Kind of defeats the purpose of decentralization. If you are into crypto you need a hardware wallet. Trezor can be had for less than 200. Coolbitx.com has an awesome one but if you order now it does not ship until December.
Place you crypto in a hardware wallet then move a little bit to an account that you can use to spend them. Get a TENX credit card to spend your bits anywhere in the world.
 
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panthera said:
I feel for those folks but you are an idiot if you let the exchanges hold your coins. Kind of defeats the purpose of decentralization. If you are into crypto you need a hardware wallet. Trezor can be had for less than 200. Coolbitx.com has an awesome one but if you order now it does not ship until December.
Place you crypto in a hardware wallet then move a little bit to an account that you can use to spend them. Get a TENX credit card to spend your bits anywhere in the world.
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Man I feel old sometimes (I'm in my 30s...)
 
panthera said:
I feel for those folks but you are an idiot if you let the exchanges hold your coins. Kind of defeats the purpose of decentralization. If you are into crypto you need a hardware wallet.
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:wave

Got screwed by the MtGox hack. Would be a nice little chunk right now if I still had those coins.
 
cycle61 said:
:wave

Got screwed by the MtGox hack. Would be a nice little chunk right now if I still had those coins.
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After I posted I thought idiot was probably not the right word but left it in because I wrote it. No offense intended.
What did you lose if you don't mind me asking? Bitcoin only or other currencies?
 
The problem with crypto-currency's right now is you are responsible for the security. Blockchain is where the real money is going to be...distributed databases. How much money would banks save on IT costs if they were able to push some of the work to customer devices?
 
Blankpage said:
Don't you wish you had you had taken a little of your gold money and speculated on Bitcoin 4-5 years ago
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No. Gold is only for insurance, not speculation. That's not to say I haven't capitalized well on this phenomena though... in fact, my shares of First Bitcoin Capital (BITCF) went ballistic recently. Sold a little over half of my position for a 700% return - most significant profit I've ever made.

I just don't believe Bitcoin is what it appears to be on the surface (or even a layer beneath) so I have zero interest in being directly involved with the tech. I'm sure I'll be forced into digital currency of one kind or another soon enough though, as we all will.
 
panthera said:
After I posted I thought idiot was probably not the right word but left it in because I wrote it. No offense intended.
What did you lose if you don't mind me asking? Bitcoin only or other currencies?
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6.3 BTC. Worth about $1200 at the time, and if they ever pay out, it's that much in government currency, not bitcoin. :thumbdown
 
Damn man thats horrible. Current price is right around $4350. Also, you would have 6.3 bitcoin cash after the fork worth around 300 each.
I almost used Mt. Gox thankfully I didn't. Has this soured your taste towards cryptocurrency?
 
OK I read the article and see benefit of chain block technology and what can be built on top of it. That being said I still don't see what drives BC. Is it underground economy, and speculation that it might be main stream at some point?
 
panthera said:
Damn man thats horrible. Current price is right around $4350. Also, you would have 6.3 bitcoin cash after the fork worth around 300 each.
I almost used Mt. Gox thankfully I didn't. Has this soured your taste towards cryptocurrency?
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In general, no. It was my fault primarily for practicing poor account management, and leaving my coins in an unsecure online brokerage rather than in a wallet.

That said, I watched the first big bubble (up to $1250-ish), the subsequent crash, and the slow recovery preceding this current runup with detached entertainment, but haven't really considered buying back in.
 
Yakoo752 said:
Bitcoins untraceable...
Or not

https://www.newscientist.com/articl...ail-to-find-and-help-sex-trafficking-victims/
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Only traceable because the people posting the ads were idiots and used the same wallet to pay for all of them.

It is also easy to see when each ad was posted. “We look at cost of the ad and the timestamp, then connect the ad to a specific person or group. This means the police then have a pretty good candidate for further investigation,” says Portnoff.

Once the police know which ads are of dubious origin, they can call the numbers on them in the knowledge that they might well be linked to crime. “Narrowing down from the hundreds of thousands of ads online will be very useful for law enforcement officers who have to read through so many ads during an investigation,” says Portnoff.

During a four-week period, the research team tried out their tool on 10,000 adverts. It correctly identified about 90 per cent of adverts that had the same author, with a false positive rate of only 1 per cent. One of the bitcoin wallets they tracked down was responsible for $150,000 worth of sex adverts, possible evidence of an exploitation ring.
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Thats the thing. There is a certain amount of anonymity but you always leave little bread crumbs that lead back to you. There are ways to remain anonymous however.
 
panthera said:
Thats the thing. There is a certain amount of anonymity but you always leave little bread crumbs that lead back to you. There are ways to remain anonymous however.
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There are, but it's difficult and requires certain amount of dedication. Also depends on how much resources other party has.
 
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