Godlike Productions - Discussion Forum
Users Online Now: 1,072 (Who's On?)Visitors Today: 126,794
Pageviews Today: 215,305Threads Today: 76Posts Today: 1,068
02:10 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

BITCOIN dropping like a rock!

 
Anonymous Coward
User ID: 12803244
United States
02/07/2014 11:24 AM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
OK this is not good, how can this happen so fast?
 Quoting: NIMRUTH


it's called gambling and a win is not guaranteed

jihad2
 Quoting: Anonymous Coward 47342726


yes but based on the current difficulty on mining, it could become very unprofitable to continue if the price of BTC does not keep pace with the increase in difficulty.

Collapse imminent?
 Quoting: NIMRUTH


It's already "very unprofitable" to mine at $1200/BTC. It's a goddamned money sink at $700/BTC.
 Quoting: Moraniac

Depends what you're using to mine with. I'm mine BTC right now and it's still profitable but in a few months when the difficulty goes way up it will be a losing game mining it.
Anonymous Coward
User ID: 14191002
United States
02/07/2014 11:25 AM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
740 now, this is one crazy ride... I was still seriously considering buying at 950!!

Wait until it goes to 400 ? need advice

[link to bitcoinwisdom.com]
 Quoting: NIMRUTH


why does anyone even give a shit about this---this affects essentially NO ONE in the mother fucking world
Anonymous Coward
User ID: 4161369
United States
02/07/2014 11:29 AM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
What it all comes down to is that Bitcoin is like investment just like buying stock in Coca-Cola. At this point there are many people just trading it rather than using it to send money across the globe for low fees.
You know that this is high risk investment, if you want to think of it that way, that you don't have to get into. You can stay all fiat or even trade other currency pairs like USD/EUR, et al.

Anyone else think that Bitcoin smells a lot like a One World Currency or am I just high?
 Quoting: Bitcoins


Idiots make this whole system go and that is why the world looks the way it does, invest in that you have got to be kidding me.
Anonymous Coward
User ID: 4161369
United States
02/07/2014 11:37 AM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
With a click of a computer keyboard by a hacker or the guberment, your Bitcoins can disappear.


scared
 Quoting: Anonymous Coward 992971


hesright
 Quoting: MaxMad


Were waiting for the idiots to figure it out, go look at the site called a "Mathematically Perfected Economy".
Anonymous Coward
User ID: 47744386
United States
02/07/2014 11:39 AM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
$670 now

All the other coins are falling but they are pretty much all tied to bitcoin as that's the only way to buy most of them.
 Quoting: Anonymous Coward 47744386



I see $720-ish currently
 Quoting: FatGoose


Holy shit it's going up and down fast, seriously I checked two sites for the $670 and now it's around $670 on [link to coinmarketcap.com] and on [link to mybitworth.com] it's saying $732, but I checked it before I said $670 and that's what it was.
VeraFromChorley

User ID: 21861737
United Kingdom
02/07/2014 11:46 AM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Sell all your BTC and get into MEOW(kittehcoin), you'll double, triple your investment.
Anonymous Coward
User ID: 9026959
Canada
02/07/2014 11:46 AM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
God, SO MANY of you are INCREDIBLY ignorant. It dropped from the Panic of one of the exchanges not allowing BTC withdrawals. Mt. Gox is the name of the company. They're incompetent.
 Quoting: Anonymous Coward 36123843


They will be updating everyone on Monday, some said technical difficulty being experienced with withdraws.

hesright
Mechatronics

User ID: 48420828
United States
02/07/2014 11:48 AM

Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
All the criminals (Apple) and wannabe's are selling their bitcoins because they now know that it was created by the US GOV

Last Edited by Terentius Afer on 02/07/2014 11:49 AM
Anonymous Coward
User ID: 5786119
United States
02/07/2014 12:03 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Worldcoin is a failure, Scharmbeck has failed. Most of the management have stepped down. The people promoting this coin have already lost a-lot of money. Do not waste money on that particular coin. Its done.
Anonymous Coward
User ID: 14191002
United States
02/07/2014 12:04 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
God, SO MANY of you are INCREDIBLY ignorant. It dropped from the Panic of one of the exchanges not allowing BTC withdrawals. Mt. Gox is the name of the company. They're incompetent.
 Quoting: Anonymous Coward 36123843


They will be updating everyone on Monday, some said technical difficulty being experienced with withdraws.

hesright
 Quoting: Anonymous Coward 9026959

again, this affects NO ONE!!
PirateMonkey

User ID: 46451934
United States
02/07/2014 12:06 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Worldcoin = NWOcoin

Idol1
7/11 was a part time job!

Psalm 35:19 Let not them that are mine enemies wrongfully rejoice over me: neither let them wink with the eye that hate me without a cause.
Anonymous Coward
User ID: 48678869
United States
02/07/2014 12:08 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
The USPS announcement is all you need to know BTC is here to stay. It was probably started by banksters at the fed who will eventually use it as the global currency reset once their fiat house of cards inevitably crashes. If it does become the global currency, and all 21 million are eventually mined, 1 bitcoin should be worth a couple million dollars or more. Take the world's current total currency values (10s of trillions of dollars worth) and divide by 21,000,000.
 Quoting: Anonymous Coward 53237350


Dream on.

lmao
Anonymous Coward
User ID: 48678869
United States
02/07/2014 12:10 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Calls continue for a global currency...If they do choose BTC, current holders will be laughing all the way to their yachts and their Maseratis.

[link to chrisinmaryville.net]
 Quoting: Anonymous Coward 53237350


That is a VERY huge 'if'.
Anonymous Coward
User ID: 54030853
United Kingdom
02/07/2014 12:12 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Worldcoin is a failure, Scharmbeck has failed. Most of the management have stepped down. The people promoting this coin have already lost a-lot of money. Do not waste money on that particular coin. Its done.
 Quoting: Anonymous Coward 5786119


worldcoin and scharmbeck are separate companies , yes scharmbeck is having some issues but that does not mean the end for worldcoin.

they have issued a statement about this

[link to www.worldcoinforum.org]
Anonymous Coward
User ID: 46805758
United States
02/07/2014 12:42 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
bitcoin is so gay.
Anonymous Coward
User ID: 9026959
Canada
02/07/2014 12:50 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
bitcoin is so gay.
 Quoting: Anonymous Coward 46805758


Great input and intellectual content to this thread A++
Anonymous Coward
User ID: 53237350
Germany
02/07/2014 01:07 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
750 and rising.
Anonymous Coward
User ID: 53237350
Germany
02/07/2014 01:08 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Calls continue for a global currency...If they do choose BTC, current holders will be laughing all the way to their yachts and their Maseratis.

[link to chrisinmaryville.net]
 Quoting: Anonymous Coward 53237350


That is a VERY huge 'if'.
 Quoting: Anonymous Coward 48678869


Not so much if you think about how the banksters operate, and how BTC got its start....
Anonymous Coward
User ID: 54033640
United States
02/07/2014 01:09 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
LOL I hope it crashes
Anonymous Coward
User ID: 24787499
United States
02/07/2014 01:27 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
The amount of ignorance regarding cryptocurrencies is astounding.

There are literally over 200 "Bitcoin like" cryptocurrencies in existence at the moment. They are going up and down all the time, just like stocks or currencies. The volatility is what creates the opportunities.

I hear some of you say scam or ponzi or whatever, but it just highlights your ignorance. Those that say that have never researched crytocurrencies thoroughly and are mostly talking out their backside. I personally have made thousands of real fiat dollars buying and selling crytpocurrencies and I only got serious about 9 months ago. I started with just a few dollars.

Will it make me wealthy so I can quit my job? Nope. Will it help me and my family live a better life. Most definitely. Do I really care if closed minded individuals think I'm lying or have an agenda or whatever? Nope. It doesn't affect me in the least what you decide to do with your money. However, if one person reads this and decides to dig deeper down the rabbit hole then I say kudos to you for taking the time to research for yourself and make an informed decision regarding what cryptocurrencies are all about.

My significant other thought all this was crazy until I was able to show her large monetary deposits that went right into our bank account, all quite legally I might add. Now she reads about it herself and is very interested in how our investments are doing. It's great fun being able to talk with her about it as an informed individual.

Whether any of you choose to believe it cryptocurrencies are the future of money. It's true digital money. Those that shun new technologies will be at a disadvantage.
Anonymous Coward
User ID: 54027646
Slovenia
02/07/2014 01:33 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
give me a break with this bitcoin shit.
From $10 to $1200? based on what? it's not tangible money. In a power outage you can't use it. god the stupidity.
 Quoting: Anonymous Coward 51899878


And what is paper money, nothing but ink on some mashed wood chips, gold/silver in hand
are hard assets!!
 Quoting: Anonymous Coward 9026959


at least you can make a fire with the fake monopoly money we all own


at best it its change all money to COINS !!, at least there you have some raw material to work with or deal when its doom time
BAD news today
User ID: 19889393
United States
02/07/2014 01:45 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
DID not read all the posts -to many-BUT there were 2 NEG articles out there today-ONE said that the treasury could get into your wallet and change your total and the other said it was a bank scheme.

If anyone answers this i will go back and find the links.

I have been accumulating the free bit coins at different sites
and with some referrals i am suprized how it adds up.

Using 6 sites daily a few minutes on each.

One is unreal.Its a money bank-made 5 times my money in 3 weeks -i think it will implode as its up to its 18th bank.

Just looking for another one.It has to happen.
Anonymous Coward
User ID: 19889393
United States
02/07/2014 01:52 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Here is one of them---other then it acting like other markets
there is neg news out there-----------


Bitcoin: Revolutionary Game-Changer Or Trojan Horse?


Visa has attacked Bitcoin as being less trustworthy than its well-established payment system.

JP Morgan Chase has filed a patent for a Bitcoin-like payment system. And Russia’s largest bank is working on a Bitcoin alternative as well.


The NSA can apparently also HACK Bitcoin. And see this. Given that the NSA may be changing the amount in people’s accounts, it would be child’s play for them to change the amount in your Bitcoin wallet.
Anonymous Coward
User ID: 1704169
United States
02/07/2014 01:54 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
DID not read all the posts -to many-BUT there were 2 NEG articles out there today-ONE said that the treasury could get into your wallet and change your total and the other said it was a bank scheme.

If anyone answers this i will go back and find the links.

I have been accumulating the free bit coins at different sites
and with some referrals i am suprized how it adds up.

Using 6 sites daily a few minutes on each.

One is unreal.Its a money bank-made 5 times my money in 3 weeks -i think it will implode as its up to its 18th bank.

Just looking for another one.It has to happen.
 Quoting: BAD news today 19889393


How exactly does one make "5 times my money" through free bitcoin faucets.

free implies a 0 dollar investment. You can not multiply a 0 investment (well you can, but its still 0).

Your logic does not compute

Oh, and the treasury can not "go into your wallet and change your total". Someone could technically hack your password and steal your shit, but they could do that for anything. Simple solution, make a harder password.

Short of that, if you control your private key, no one can ever steal your shit. If you leave your bitcoins w/ a 3rd party (like an exchange) where they control the private key, of course there's some risk involved. Again, the solution is simple. Control your own shit, don't leave it up to 3rd parties.
Anonymous Coward
User ID: 1704169
United States
02/07/2014 02:05 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Here is one of them---other then it acting like other markets
there is neg news out there-----------


Bitcoin: Revolutionary Game-Changer Or Trojan Horse?


Visa has attacked Bitcoin as being less trustworthy than its well-established payment system.

JP Morgan Chase has filed a patent for a Bitcoin-like payment system. And Russia’s largest bank is working on a Bitcoin alternative as well.


The NSA can apparently also HACK Bitcoin. And see this. Given that the NSA may be changing the amount in people’s accounts, it would be child’s play for them to change the amount in your Bitcoin wallet.
 Quoting: Anonymous Coward 19889393


Silly shill

No one can steal your bitcoins if you control the private key.

As for credit cards being more trustworthy than the bitcoin system, well logically that is obviously false. Credit cards REQUIRE you to give your information to another party to complete transactions. When you do that, you are introducing counter-party risk into the equation.

You freely give away all the information anyone needs to access your funds every time you make a transaction. Go to a restaurant and pay with a credit card, guess what? You are at the mercy of the person you hand your card to. All they need to do is copy your info and they can access your funds.

Credit cards are what is called a "pull" system where you don't give money to companies when you pay (push), what you actually do is give them access to your funds (via your card number) and then they pull money from your account. The key being, the system requires other people to have access to your account in order to transfer money.

That is the exact opposite of bitcoin, where you never give any of your private information over to anyone to complete a transaction. Instead, you push your funds (via your private key that only you know) to other people/companies. You are 100% in control of your own transactions, thereby eliminating that counter-party risk that is a requirement with credit cards.

Long story short, the current system can never be as secure as a system like bitcoin, because the very nature of the system itself requires it to be less so. Risk is ALWAYS going to be greater in a pull based payment system.

To say otherwise is either ignorant or intentionally misleading.
kaibosh

User ID: 31497445
Canada
02/07/2014 02:22 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Jesus H. Chrsit, people. PLEASE educate yourself on the matter before you keep stuffing your foot into your yap. Bitcoins are divisible by 8 decimal places, the fact that there will only be 21 Million of them in existence 'someday' is MEANINGLESS.

I swear to God, this level of stupidity can almost only be explained by shills. Please let some of these people be shills, because the alternative is too frightening to accept.
Anonymous Coward
User ID: 33322501
United States
02/07/2014 02:30 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
So BTC is more secure than using a credit card, and paper money is now worthless. Gee, I learned a lot about BTC promoters today.

Now I'm going to drive to a guitar shop and buy a guitar with my worthless paper money. I hope they don't figure out what I learned here, before I leave the store. Then I'm going to hand a waiter my credit card for some food, as I've done so hundreds of times.
Anonymous Coward
User ID: 33322501
United States
02/07/2014 02:35 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
BTC shills get so fucking mad because they know damn well they got in too late, and spent four grand on mining equipment, and have huge electricity bills. So they're trying to pedal this illusion like dying rats, in hopes you buy in so they can get out untouched.
Anonymous Coward
User ID: 47276267
United States
02/07/2014 02:37 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
Just wait until this is under the $50.00 mark. You won't have long to wait.
Anonymous Coward
User ID: 1704169
United States
02/07/2014 02:37 PM
Report Abusive Post
Report Copyright Violation
Re: BITCOIN dropping like a rock!
So your premise is credit card fraud isn't a very common thing? Right.

Better go tell all those target customers they just imagined that.





GLP