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The Lounge>Bitcoin Take?
ChiefRocka 11:41 AM 02-15-2013
Always love to bounce this kind of stuff off the Planet. Have any of you done any research into Bitcoin, and if you hold any opinions on the concept I'd love to hear what you think.





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taterhog 09:15 AM 12-09-2013
Originally Posted by beach tribe:
Really want to get some bit coins and find Silk road.
I can sell some of that "product" at a HUGE profit.
And the customers are dedicated repeat customers.
lol

Yeah, because silk road didn't make national news for getting popped already. Dig deeper. lol
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ChiefRocka 10:43 AM 02-24-2014
- Mt. Gox exchange fails... Bitcoin down to mid $500s
- Winklevoss twins the new face of bitcoin
- First Bitcoin ATMs in America
- Overstock.com & TigerDirect.com accept Bitcoin as payment
- US working on Bitcoin regulation

Train is leaving the station.
[Reply]
digger 07:22 AM 02-28-2014
And poof..............

http://gizmodo.com/mt-gox-is-filing-...ium=socialflow
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ChiefRocka 07:33 AM 02-28-2014
Originally Posted by digger:
And poof..............

http://gizmodo.com/mt-gox-is-filing-...ium=socialflow
Just one entitiy that didn't have its shit together. Price is holding and China is hoarding these things.
[Reply]
htismaqe 08:00 AM 02-28-2014
Originally Posted by ChiefRocka:
- US working on Bitcoin regulation
That pretty much guarantees they'll be worthless soon.
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KC native 08:03 AM 02-28-2014
Saw a hilarious tweet yesterday on bitcoins and libertarians.

the best part about bitcoins is that you get to watch libertarians slowly discover why financial regulations exist to begin with

— Pocius Pocius (@The_Pocius) February 18, 2014


[Reply]
KC native 08:05 AM 02-28-2014
Originally Posted by ChiefRocka:
Just one entitiy that didn't have its shit together. Price is holding and China is hoarding these things.
Yea, except the same thing happened to Silk Road 2.

Bitcoin is a bubble. It is a good idea but has huge flaws that will prevent it from ever becoming more than a niche product for savvy internet users.

The hoarding is also one of the problems. If bitcoins were becoming more widely used then we would see transactions in bitcoins pick up. That's not happening. People are hoarding them with the expectation that they will go up. Since the market is thinly traded, they've been going up.
[Reply]
ChiefRocka 08:31 AM 02-28-2014
Originally Posted by KC native:
Yea, except the same thing happened to Silk Road 2.

Bitcoin is a bubble. It is a good idea but has huge flaws that will prevent it from ever becoming more than a niche product for savvy internet users.

The hoarding is also one of the problems. If bitcoins were becoming more widely used then we would see transactions in bitcoins pick up. That's not happening. People are hoarding them with the expectation that they will go up. Since the market is thinly traded, they've been going up.
Respect your opinion but I believe the jury is still out. It may not be bitcoin but crypto-currency is coming. No harm in speculating a little. What are the flaws you mention? Agree totally about the hoarding issue, most argue quantum computing will kill current encryption entirely, not just bitcoin.

For the record I'm not gung ho bitcoin, just think its interesting with little monies invested.
[Reply]
ChiefRocka 08:39 AM 02-28-2014
Originally Posted by KC native:
Yea, except the same thing happened to Silk Road 2.

.
Silk Road 2 and Mt. Gox were corrupt and needed to be weeded out.
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ChiefRocka 08:43 AM 02-28-2014
Originally Posted by htismaqe:
That pretty much guarantees they'll be worthless soon.
It took 250 years for the dollar to get this point.
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digger 08:37 PM 03-05-2014
Bitcoin firm CEO found dead in suspected suicide
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Buzz 08:45 PM 03-05-2014
high cheek bones, loved the weiner.
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ChiefRocka 10:36 AM 03-19-2014
- 400 Bitcoin ATMs set to rollout in Dubai
- Pantera's Bitcoin Investment Fund backed by three reputable VC's
- Xapo Cold Storage Vault receives 20 million investment
- Warren Buffet struggles to comprehend crypto-currency along with the other 98%
- US Treasury to appoint virtual currency chair
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ChiefRocka 05:42 PM 06-21-2014
6/21/14 Bitcoin Update

- Expedia accepts Bitcoin for hotel reservations
- Dish Network accepts Bitcoin payments for monthly service
- Reeds Jewelers accepts Bitcoin at brick and mortar stores
- Bitcoin St. Petersburg Bowl - http://www.stpetersburgbowl.com
- US Marshals Service auctioning off 30,000 Bitcoins seized during Silk Road raid
- Ebay CEO admits Paypal is actively integrating Bitcoin as a payment
- Apple allows active Bitcoin wallet apps in their online Apple Store
- Swiss rule to allow Bitcoin ATM network
- Bolivia bans Bitcoin as well as all virtual currencies
- 120 million in VC money pumped into Bitcoin ecosystem so far in 2014
- Israel/Austria stand up first Bitcoin ATMs in country
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BWillie 06:51 PM 06-21-2014
Haven't checked for a while, is bitcoin increasing in value the last few months? I have a few bitcoins, use them to play poker with on an online site. Seals with clubs, come join the fun
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