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  1. #26
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    Use of Matrix imagery rarely improves understanding.

  2. #27
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    The steak was a construct, inside a larger construct. Cypher's use of "Exist" indicated why he wanted the blue pill...

    Abstract, but the issues of perception vs "reality" are just some of the hills an algo writer will have to surmount along the way to devise a better cryptocurrency onion.

  3. #28
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    Nov 2005
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    2,830
    Please correct me if you know this with any certainty, but it's my impression that the only thing the "founder" of bitcoin did was to author a white paper that caught on with cryptographers, so that the actual coding was a communal effort, open-source style. If you trust open source security then the origins of this are not so concerning.

    Not that that is an endorsement, it just puts it on a similar footing with open source security.

  4. #29
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  5. #30
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    May 2002
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    Yo....haven't been around.

    WTF on page 1?

  6. #31
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    Jan 2005
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    Access to Granlibakken
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  7. #32
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    Nov 2005
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    Hearn's blog post
    https://medium.com/@octskyward/the-r...1f7#.luyid49uz

    More fundamentally, it is a crisis that reflects deep philosophical differences in how people view the world: either as one that should be ruled by a “consensus of experts”, or through ordinary people picking whatever policies make sense to them.
    That seems awfully similar to the philosophical rift between the ruling meritocratic (ne-communist) party in China and the would-be libertarians of the bitcoin experiment just as control has essentially been taken behind the Great Firewall. Shitshow indeed.

  8. #33
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    Oct 2003
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    Banff
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    I'm still not sure what problem bitcoins is trying to solve?

    interesting idea, neat that it CAN exist, and for some is useful (the ones making money with it) but for most of us, how is is better then cash or debit, or credit cards?


  9. #34
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    Mar 2006
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    19,940
    Clearly, you've not heard of Square.
    No longer stuck.

    Quote Originally Posted by stuckathuntermtn View Post
    Just an uneducated guess.

  10. #35
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    No longer stuck.

    Quote Originally Posted by stuckathuntermtn View Post
    Just an uneducated guess.

  11. #36
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    Jul 2014
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    TennesseeJed
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    9,434
    Good for buying illegal shit.
    "I don't pretend to have all the answers, and I think there's something to be said for that" -One For The Road

    Brain dead and made of money.

  12. #37
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    Oct 2006
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    Isn't a ton of the recent buying and selling related to ransomware? I think I read estimates in the 50% range of daily use. That seems too high but I don't really know. Never got into it and most people I knew who were mining quit as the rewards diminished. Wonder if they are still using it?

  13. #38
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    Oct 2003
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    Joe's Garage
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    The "technology" is way more impactful than any given crypto currency, and even that will be very hard to implement/mesh with legacy clearing and settlement systems, centralized or not. The recent breaches at swift may goose things a bit.

    Know a guy who started and folded a hedge fund based on arbing various cryptos vs each other , gbp, usd, euro, etc.

    Problem is the "exchanges" also act as ccp's and play hints however they want. Cannot unwind-
    No Roger, No Rerun, No Rent

  14. #39
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    Mar 2004
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    The Ransomware crowd loves the bitcoin.

  15. #40
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    Oct 2003
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    Switzerland
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    This is one dip I won't be buying on....down 20% atm...

    Bitcoin Plunges After Hacking of Exchange in Hong Kong

  16. #41
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    Feb 2011
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    450
    Where are you getting your bitcoin from?

  17. #42
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    Feb 2011
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    450
    No one is buying anymore?

  18. #43
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    May 2008
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    Quote Originally Posted by ICantLogIn View Post
    No one is buying anymore?
    Bought a couple dips at 4k about 6 weeks ago. Really goofed and missed the 3k dip about 3 weeks ago. Been hodling/buying since I got in at 1k.

    Got into ETH at $12 and hodling there as well with one dump during the big spike in June/July.


    Pretty much the smartest dude I know has been a full-time crypto analyst for the last 5 years. Wish I was wise enough to get in when he did.

    This shit is real and when the old dinosaurs finally croak you will kick yourself if you don't throw some pocket change in now and wait.

  19. #44
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    Nov 2008
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    Quote Originally Posted by Whiteroom_Guardian View Post
    This shit is real and when the old dinosaurs finally croak you will kick yourself if you don't throw some pocket change in now and wait.
    By dinosuars, I guess he means morons like Warren Buffet. Right......what's that old fool know about value, huh?

    here's what Buffett had to say:

    "Stay away from it. It's a mirage basically. It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money? Just because they can transmit money? I hope bitcoin becomes a better way to do it. But you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view."

  20. #45
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    Quote Originally Posted by neckdeep View Post
    By dinosuars, I guess he means morons like Warren Buffet. Right......what's that old fool know about value, huh?

    here's what Buffett had to say:

    "Stay away from it. It's a mirage basically. It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money? Just because they can transmit money? I hope bitcoin becomes a better way to do it. But you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view."
    Never said the old guard were morons. Many of them refuse to adopt new technology. I mean why would they? They made their fortune the old way and will be dead when the new way becomes totally relevant.

    What many like Warren fail to understand is that bitcoin/crypto are finite unlike fiat currency/checks.

    There is no way to simply "print" more BTC once all the coins have been mined.


    If tomorrow there was an announcement that the last nugget of gold was mined on earth what do you think would happen to it's value?

  21. #46
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    Mar 2006
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    14,816

    Bitcoin....who's gotten into it?

    We'll see what happens when derivative trading on crypto starts. It's a one sided market now.

    With regard to "last ounce" of gold. More gold is owned in derivatives and traded every day than the next 100 years of production.

    Last edited by 4matic; 10-02-2017 at 07:20 PM.

  22. #47
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    Feb 2011
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    450
    ETH huh....

  23. #48
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    Jan 2007
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    5,232
    Quote Originally Posted by Whiteroom_Guardian View Post
    Never said the old guard were morons. Many of them refuse to adopt new technology. I mean why would they? They made their fortune the old way and will be dead when the new way becomes totally relevant.

    What many like Warren fail to understand is that bitcoin/crypto are finite unlike fiat currency/checks.

    There is no way to simply "print" more BTC once all the coins have been mined.


    If tomorrow there was an announcement that the last nugget of gold was mined on earth what do you think would happen to it's value?
    Are bitcoins bought in fractions? If so, that's another way to artificially expand supply.

  24. #49
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    Feb 2011
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    450
    How about NEO anyone in?

  25. #50
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    Quote Originally Posted by huckbucket View Post
    Are bitcoins bought in fractions? If so, that's another way to artificially expand supply.
    There will only ever be approximately 21M bitcoin in existence. Once all the blocks are mined that's it.

    It's like if there were only ever 21M USD ever printed. Sure you could buy $10 dollars here and there, but the value would continue to increase as it's usage becomes more widespread and commonplace without the ability to just make more money whenever we want to.

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