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Re: Active Mining - New Moderated Thread - Mods please come back
Over 40 Spam posts deleted just today.
What is going on? Why are these users not banned?
What is going on? Why are these users not banned?
Easily surpassed 100 now
Small price to pay for stopping scams like Active Mining from shitting up my Bitcoin.
Re: [Active Mining] The UNofficial Active Mining Discussion Thread [UNmoderated]
No.
You made a series of mistakes, failing to listen to your betters at *each and every step of the way*. You stubbornly ignored good advice, and, even now, are trying to justify your bad decisions.
It is people like you, who throw money at lulzy, illiterate, serial-scamming alcoholics, and then sculk off with tails between their legs, who are *directly responsible for all the scamming happening in Bitcoin*.
You don't report rapists in hopes of getting unraped. You report them so they would be punished and *others would not get raped*.
You made a series of mistakes, failing to listen to your betters at *each and every step of the way*. You stubbornly ignored good advice, and, even now, are trying to justify your bad decisions.
It is people like you, who throw money at lulzy, illiterate, serial-scamming alcoholics, and then sculk off with tails between their legs, who are *directly responsible for all the scamming happening in Bitcoin*.
You don't report rapists in hopes of getting unraped. You report them so they would be punished and *others would not get raped*.
Re: [Active Mining] The UNofficial Active Mining Discussion Thread [UNmoderated]
Looks like Ken's getting some local press:
Betting on Bitcoin
Springfield's Kenneth E. Slaughter is caught up in the fast-moving world of digital currency
Betting on Bitcoin
Springfield's Kenneth E. Slaughter is caught up in the fast-moving world of digital currency
Lol, Ken tells random reporters more than he tells U:
"On Monday, several bitcoin companies announced that Japan-based Mt. Gox, the largest online Bitcoin exchange, would file for bankruptcy after months of technological problems and an apparent major theft. It did so Friday, saying that hackers had stolen 750,000 of its users bitcoins and 100,000 of its own more than six percent of the total currently in circulation, worth more than $450 million.
The announcement prompted the cancellation of Virtual Minings development of the 55 nanometer chips, Slaughter said on Tuesday.
The cancellation, he said, was driven by three factors. First, Active Mining had some bitcoins now presumed lost in the exchange. Second, the recent decline in the price of Bitcoin meant the company had less buying power. Third, the machines would cost enough to produce that they would only provide a return on investment if the price of Bitcoin was at least $900."
Lol.
Excuse Du Jour: UR coinz are GOXED!!!!1!
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
...
But what is wrong with learning from the experience and moving on? Do you have a better option?
But what is wrong with learning from the experience and moving on? Do you have a better option?
Lessons from *earlier* experiences have taught me that "moving on" lets scammers continue scamming.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
... If 20% of those who thought they had coins at Gox, buy new coins (and move them to cold storage this time), that represents 150,000 BTC of sudden demand.
If 20% of those whose dollars were stolen bought more dollars... Ohwait.
^A Cypriot bank involving Bitcoin? A currency that eliminated the need for banks? Also known for many "bank-like" schemes -- all vanishing under curious circumstances?
Stop worrying, everything'll be fine.
Stop worrying, everything'll be fine.
Re: Active Mining - New Moderated Thread - Mods please come back
Dear ActM_Thread.
I understand that above all else, you long to be taken seriously -- to be able to call your bag of virtual dicks "holdings," to be treated as a real, adult investor in a honest-to-gosh company.
For others to stop spraying you with virtual coffee as soon as you bring up your "virtual investment" in "...a virtual identity [sic] totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits."
I get it.
I understand.
Rejoice!
The Missouri Securities Division is taking you srsly -- Ken's being investigated for securities fraud, a very "mature" crime, just like a real grownup!
I understand that above all else, you long to be taken seriously -- to be able to call your bag of virtual dicks "holdings," to be treated as a real, adult investor in a honest-to-gosh company.
For others to stop spraying you with virtual coffee as soon as you bring up your "virtual investment" in "...a virtual identity [sic] totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits."
I get it.
I understand.
Rejoice!
The Missouri Securities Division is taking you srsly -- Ken's being investigated for securities fraud, a very "mature" crime, just like a real grownup!
You've already listed the shares on an exchange without even specifying what you're doing with the money, what the risks are, what (if any) the buyback clause is, etc...
Seems to be the wrong order of doing things. It also makes me not want to use Cryptostocks if shares can be listed without any details about what they're for.
Seems to be the wrong order of doing things. It also makes me not want to use Cryptostocks if shares can be listed without any details about what they're for.
Nah. On Cryptostocks, it's the *correct* way of doing things.
You must be new here.
TAT, I might be responsible 
In my defense, I thought the sarcasm was obvious... I even added some fine print at the end to make sure.
The shares will be destroyed to benefitexisting shareholders you.
I'm totally super srs!
In my defense, I thought the sarcasm was obvious... I even added some fine print at the end to make sure.
...
9,600,000 - 5,050,672 = 4,549,328 unsold public shares.
That's almost half of all public shares in the IPO offering.
Have you decided what will happen to the unsold shares?
9,600,000 - 5,050,672 = 4,549,328 unsold public shares.
That's almost half of all public shares in the IPO offering.
Have you decided what will happen to the unsold shares?
The shares will be destroyed to benefit
I'm totally super srs!
I am assuming that those bitcoins were stolen from their "cold storage" a few weeks ago, iirc gmaxwell said that they automatically send coins from their "cold storage" to their hot wallets 
Then they need a refresher course on the meaning of cold storage. That is deplorable if true.That really is mind-boggling...
Ah, a few pages back I see some people who only have half of the price equation (very important to have the whole equation when we are discussing the infamous topic of "What bitcoin prices will do if it is made illegal [in an unspecified number of countries.]")
The basic economic misconception is that price = demand.
Using that equation, demand will go down since "Joe Schmoe" listens to his government and doesn't want to go to jail.
Reality? Price = supply vs. demand.
Will making bitcoin illegal affect demand but not affect supply? Absolutely not, this is preposterous.
Supply will also go down. Some exchanges would have to shut down, either due to being made completely illegal, or having no legal funding/withdrawal methods. This would reduce supply. Institutional miners/mining farms would have to shut down as their operations would be illegal. Only "criminal" anonymous miners and "criminal" OTC dealers would be significant suppliers of bitcoins, and liquidity would be an issue.
Supply would be reduced to - "criminals" and "criminal" miners.
Demand might be reduced, yes, but by how much is not so apparent. People currently risk jail time in Argentina to buy a currency that inflates less than the Argentinian Peso. And the dollar black rate there is more then the legal rate... Already people risk jail time to sell drugs (made illegal, supply dried up, prices skyrocketed, and demand DID NOT dry up) and they risk lawsuits to download music and films on bittorrent (made illegal, supply is a little harder to get at, bandwidth skyrocketed, demand skyrocketed).
So when pondering the infamous "What will bitcoin price do if it is made illegal?," be sure that you are considering the price equation as "price = supply vs. demand" rather than just "price = demand." For if you only consider the effects of litigation on demand, and not the effects of litigation on supply, you will surely get Goxxed by your government when the time comes
The basic economic misconception is that price = demand.
Using that equation, demand will go down since "Joe Schmoe" listens to his government and doesn't want to go to jail.
Reality? Price = supply vs. demand.
Will making bitcoin illegal affect demand but not affect supply? Absolutely not, this is preposterous.
Supply will also go down. Some exchanges would have to shut down, either due to being made completely illegal, or having no legal funding/withdrawal methods. This would reduce supply. Institutional miners/mining farms would have to shut down as their operations would be illegal. Only "criminal" anonymous miners and "criminal" OTC dealers would be significant suppliers of bitcoins, and liquidity would be an issue.
Supply would be reduced to - "criminals" and "criminal" miners.
Demand might be reduced, yes, but by how much is not so apparent. People currently risk jail time in Argentina to buy a currency that inflates less than the Argentinian Peso. And the dollar black rate there is more then the legal rate... Already people risk jail time to sell drugs (made illegal, supply dried up, prices skyrocketed, and demand DID NOT dry up) and they risk lawsuits to download music and films on bittorrent (made illegal, supply is a little harder to get at, bandwidth skyrocketed, demand skyrocketed).
So when pondering the infamous "What will bitcoin price do if it is made illegal?," be sure that you are considering the price equation as "price = supply vs. demand" rather than just "price = demand." For if you only consider the effects of litigation on demand, and not the effects of litigation on supply, you will surely get Goxxed by your government when the time comes
The supply = (all the bitcoins mined to date - bitcoins "lost" due to lost private keys etc.).
The local bubbles of scarcity are balanced by local surplus bubbles (a guy trying to sell bitcoins without interested buyers).
*As far as black market value of currency, it is driven by white market value of that currency. If there was no way to spend the dollar, its black market value would be close to zero.
...
You are forgetting that price is directly influenced by demand. If 99.9% of demand (all but those few backwater countries) vanishes, the price plummets. Even on those black markets.
Not forgetting anything. The price is what it is because the demand is there. Which is to say, the demand for black market dollars is higher than the demand for legal dollars. Another factor is scarcity of supply in such situations.You are forgetting that price is directly influenced by demand. If 99.9% of demand (all but those few backwater countries) vanishes, the price plummets. Even on those black markets.
With bitcoin, the countries with failing fiat economies are the most likely to ban it. Those are also the countries where people will be most desperate to find alternatives to hold their money over fiat. Reduced supply (only criminals have bitcoin) with rising (desperate) demand means the price will stay stable or go up. If it goes up it will spill over into the legal parts of the world in the form of arb. These are basic fundamentals.
According to your logic, if bitcoin is made illegal, the price of my bitcoin holdings would skyrocket? I'm off to Washington -- lobbying to illegalize bitcoin so's I can haz filthy rich
^The market does not react spontaneously, otherwise stuff like trading and arbitrage would be impossible. It's adjusting as we speak
http://s3.postimg.org/9v43w9fsj/Capture.jpg
It's a temporal world. Change/time.
http://s3.postimg.org/9v43w9fsj/Capture.jpg
It's a temporal world. Change/time.
I don't fear fuds or regulators directly, what I fear immensely is that they may scared away miners. With current difficulty level it may be death spiral( huge difficulty against low hash rate ). To stop this core developers may be forced to hard fork. This may be the end of fireworks for long time..
But I see also light in the tunnel, but I am obliged to stay silent about that at least temporarily
But I see also light in the tunnel, but I am obliged to stay silent about that at least temporarily
Don't worry. Megafarms have no choice but to keep mining as long as (data center cost) < (price of the coin mined). Even hobby miners have preordered gear that is yet to arrive at their door.
Mining ain't stopping any time soon.
...
Prohibition. Most drinkers were hobbyholics, not hardened gangsters. Which is why everyone stopped drinking and the price dropped.
Only reason people pay lip service to the law is because we are threatened with jail if we don't. It is very easy to use bitcoin anonymously for those so inclined, and there will always be somewhere in the world where using them is fully legal for those not adverse to relocating. Imagine, living like a king somewhere in SE asia because people in other countries are making you rich by breaking the law. However things go, the next years will be fascinating.
Prohibition. Most drinkers were hobbyholics, not hardened gangsters. Which is why everyone stopped drinking and the price dropped.
Only reason people pay lip service to the law is because we are threatened with jail if we don't. It is very easy to use bitcoin anonymously for those so inclined, and there will always be somewhere in the world where using them is fully legal for those not adverse to relocating. Imagine, living like a king somewhere in SE asia because people in other countries are making you rich by breaking the law. However things go, the next years will be fascinating.
Apples != oranges. If bitcoin is booze, so is fiat. Only fiat is legal booze. Your analogy would be accurate if the prohibition banned gin, while everything else -- vodka, whiskey, saki, etc., remained legal. If during such prohibition a thriving gin industry emerged, you'd have a point...
If you wish to suggest that (black market $ volume) > (legitimate market $ value), I'm afraid I got nothing
You are forgetting that price is directly influenced by demand. If 99.9% of demand (all but those few backwater countries) vanishes, the price plummets. Even on those black markets.
...
Prohibition. Most drinkers were hobbyholics, not hardened gangsters. Which is why everyone stopped drinking and the price dropped.
Only reason people pay lip service to the law is because we are threatened with jail if we don't. It is very easy to use bitcoin anonymously for those so inclined, and there will always be somewhere in the world where using them is fully legal for those not adverse to relocating. Imagine, living like a king somewhere in SE asia because people in other countries are making you rich by breaking the law. However things go, the next years will be fascinating.
Prohibition. Most drinkers were hobbyholics, not hardened gangsters. Which is why everyone stopped drinking and the price dropped.
Only reason people pay lip service to the law is because we are threatened with jail if we don't. It is very easy to use bitcoin anonymously for those so inclined, and there will always be somewhere in the world where using them is fully legal for those not adverse to relocating. Imagine, living like a king somewhere in SE asia because people in other countries are making you rich by breaking the law. However things go, the next years will be fascinating.
Apples != oranges. If bitcoin is booze, so is fiat. Only fiat is legal booze. Your analogy would be accurate if the prohibition banned gin, while everything else -- vodka, whiskey, saki, etc., remained legal. If during such prohibition a thriving gin industry emerged, you'd have a point...
If you wish to suggest that (black market $ volume) > (legitimate market $ value), I'm afraid I got nothing
...
Prohibition. Most drinkers were hobbyholics, not hardened gangsters. Which is why everyone stopped drinking and the price dropped.
Only reason people pay lip service to the law is because we are threatened with jail if we don't. It is very easy to use bitcoin anonymously for those so inclined, and there will always be somewhere in the world where using them is fully legal for those not adverse to relocating. Imagine, living like a king somewhere in SE asia because people in other countries are making you rich by breaking the law. However things go, the next years will be fascinating.
Prohibition. Most drinkers were hobbyholics, not hardened gangsters. Which is why everyone stopped drinking and the price dropped.
Only reason people pay lip service to the law is because we are threatened with jail if we don't. It is very easy to use bitcoin anonymously for those so inclined, and there will always be somewhere in the world where using them is fully legal for those not adverse to relocating. Imagine, living like a king somewhere in SE asia because people in other countries are making you rich by breaking the law. However things go, the next years will be fascinating.
Apples != oranges. If bitcoin is booze, so is fiat. Only fiat is legal booze. Your analogy would be accurate if the prohibition banned gin, while everything else -- vodka, whiskey, saki, etc., remained legal. If during such prohibition a thriving gin industry emerged, you'd have a point...
...
Bitcoin can't be killed by regulators. By design. For starters, it's global. No single country can makes rules for it, and global cooperation is not going to happen. Then there is the fact that it can't be killed. The tech is out there, all they can do is make it illegal which is not going to hurt the price. Which is why they won't do that either.
Bitcoin can't be killed by regulators. By design. For starters, it's global. No single country can makes rules for it, and global cooperation is not going to happen. Then there is the fact that it can't be killed. The tech is out there, all they can do is make it illegal which is not going to hurt the price. Which is why they won't do that either.
You should explain this to companies like NeoBee and every business accepting bitcoins.
The problem is this news affects the fence sitters, who'll be turned off. It also gives the regulators an excellent excuse to regulate bitcoin out of existence -- "Look, it's nothing but scammers and suckers."
As a bitcoin convert, *I* am not chomping at the bit to buy right now. Look at the charts and tell me I'm wrong.
As a bitcoin convert, *I* am not chomping at the bit to buy right now. Look at the charts and tell me I'm wrong.