I seen the bbc did a short news report on this and i think that it is time that bitcoin died so i can succeed by life/feathercoin. I have to feel sorry for the people who loss hundreds of thousands of dollars though. But at least the amd card price may come down. :)
lol, phantom made him write a whole fucking essay to explain himself cause we all know how uptight of a mod he is
Still waiting on curecoin. Sure Doge coin and Litecoin maybe will continue onwards but in reality a crypto currency actually needs some tangible value to keep it stable. Does not mean bitcoin could have not been a good stable currency. Have to remember that all currencies have no real value. Their just a form of artificual value for goods and services. There have been plenty of times in history where currencies have been made to cheat people out of their hard earned products. A lot of people thought the Euro would do the same and the trans taz Australian New Zealand dollar plan could be the same.
But if Curecoin becomes a thing, There would be no reason for a lot of people to stop folding/mining. While its sad Bitcoin is falling, My hopes is that a new more stable coin takes its place.
yep, in Burma during their turmoil into democracy when they were ruled by the military the government would print out new money all the time making the previous money worthless. now they barter in American money and the condition of the bill denotes it's value.
a crease in the dollar will make it worth 50 cents.
¬_¬
Although money once represented a fixed amount of gold, most countries have dropped the gold standard. This means that money now does not represent anything. Its value comes only with the fact that there is fixed amount of it in the world, and people agree to use it as a measure of wealth.
You've already been warned, now you're just posting because you're butthurt about it.
I know about what happened with MtGox, my post was only relevant because of the misunderstanding, haha.
And about the price, I looked back and I believe I accidentally took the EUR value, and not the USD, So I apologize for that, as well.
you are a great mod and you'll go far in life and do special things.
Not anarchy but an upset? yes. I think that this upset made some people upset. :P
I thought it's obvious that that was sarcasm. I even added \s at the end to be sure that everyone understand it… well, didn't work out I guess.
I kinda agree with you but I think everything has a value, even virtual stuff. If people agree that something has a value, it has a value, otherwise it doesn't. Nothing more to it.
don't you have something better to do than post under-intelligent, low quality posts in a forum? The posts you make aren't helpful, and are disruptive to the conversation.
Please, respect the other users of this forum, and post something helpful, or relevant to the topic at hand,
Because a government says that something has value, it has value? Noooope, absolutely not. Just look at black markets and all that stuff. Things have a value if people giving it a value and that generally happens when people want something and there is only a limited amount of it.
Official currencies also have no relation to gold anymore, like Phantom correctly said. They get manipulated by rating agencies, big banks and everyone with political power (= people who have stuff that has value). It's all a big scam and you have to participate. Crypto currencies are theoretically perfect in the sense that they can't be manipulated. They behave solely on demand and supply.
Crypto currencies should be the next big thing but there is still much to figure out.
All good Phantom. I just wanted to make a relevant post stating that bitcoin is indeed not dead yet. I'll go back and delete the unclear posts. It took all of 12 hours for the price of bitcoin to recover from the MtGox fiasco LOL. Will take longer to recover from the hacking though. Sadly the AMD cards will be inflated for a while.
The inflation will stay up because of things like litecoin and Doge. Although somewhat reliant on BTC, they arent entirely. If it were JUST bitcoin, there would be no markups, because GPU mining for BTC is pointless.
So I guess no cheap 7970 crossfire setup for me :(
585, actually
First of all, just because one exchange went out and stole some coins does not mean that Bitcoin is a scam. Mt. Gox is not Bitcoin, it is an exchange. Bitcoin will now be more secure because people will think twice about keeping their money in a website vs their own hard drive.
Second, no, the prices of GPUs are not going to go down because Bitcoin is having a rough patch. People don't mine Bitcoin with GPUs. They mine Litecoin, Feathercoin, Dogecoin, Catcoin, Mintcoin, ect... There are hundreds of them.
http://www.coinwarz.com/cryptocurrency/?sha256HashRate=1000.00&sha256Power=500.00&sha256PowerCost=0.1000&scryptHashRate=400.00&scryptPower=0.00&scryptPowerCost=0.0300&sha256Check=true&scryptCheck=true&e=Coinbase
Third, don't try to say that Bitcoin is dead. Trading is continuing and the subreddit is full of new posts.
http://www.reddit.com/r/Bitcoin/
Fourth and last, an exchange is not a bank. Money was lost because people kept money in Mt. Gox like a bank. The only safe place for your money (crypto) is in your possession with strong encryption.