BITCON... WHY its totally FLAWED

Discussion in 'Digital Currencies' started by 1for1, Aug 6, 2012.

  1. Dynoman

    Dynoman Active Member

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    Or LTC got sucked into the BTC vortex. It will be very interesting to see how BTC goes up against Gold in the next few days.
     
  2. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    There is a distinct schism amongst crypto followers - most involved are in it to speculate and exchange for fiat when the price inflates, which I might add is completely normal. The qualities that crypto currencies bring to the market are now irrelevant, the arguments used by crypto fanatics to justify their position and to highlight the irrelevance of gold and silver are now meaningless.

    This thread is testimony to that http://forums.silverstackers.com/topic-48184-best-alt-cryptos.html
     
  3. alor

    alor Well-Known Member Silver Stacker

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    To Leap Year Coins :) ------> tulip e coins ---> most of the years are non- leap year :lol: ---> common coins
     
  4. Load of Bullion

    Load of Bullion Well-Known Member

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    Ahh shiney is back :) ..I purchased a new phone with BTC and silver bullion bars with good old Fed fiat last week . The BTC performed it's function nicely, whilst the silver will serve me for another function altogether.
     
  5. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    :)
     
  6. Phiber

    Phiber Well-Known Member Silver Stacker

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    I am sure plenty would be more than glad to swap their BTC for other assets - PM are a class, but think about being able to purchase cars or even real estate (I think I have read this is already possible in the US), I am pretty sure many people would be happy with these options!
     
  7. beeteecee

    beeteecee New Member Silver Stacker

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    http://mashable.com/2013/12/09/tesla-bitcoin/

     
  8. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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  9. whinfell

    whinfell Well-Known Member Silver Stacker

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  10. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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  11. tozak

    tozak Well-Known Member Silver Stacker

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    I'm surprised Mark Karpeles has not jumped on this thread yet to explain why Bitcoin is totally flawed

    :)
     
  12. tozak

    tozak Well-Known Member Silver Stacker

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    Try typing "btc-e.com" or "cryptsy.com" in the browser address bar, that usually fixes that error up
     
  13. TreasureHunter

    TreasureHunter Well-Known Member

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    Not sure whether I should call it "flawed", but I said the same thing about the fact that it benefits the creator.

    It's a business. You invent a coin, launch it and make sure you are the first to accumulate/mine/buy a lot of it at the very beginning. Then you create a "mass hysteria" and people will buy in. As the media pick up the idea, the price rises even more. Sky high.

    Then the you (the creator) sell your coins. You get rich.

    The market crashes as a result of the sell-off and everyone else is scratching their head "hey, what happened"? :p The small investors and everyone else who came in late blame everything from manipulation to technical issues...

    But it's a business, essentially...
     
  14. Lunarowl

    Lunarowl Active Member Silver Stacker

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    Sorry noob question. How can bitcoin price vary significantly between different exchanges? At this moment, wouldn't you buy from mtgox and sell at btce?
     
  15. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    As it currently stands, BTC withdraws from MtGox are frozen.

    Means no real arbitrage trading
     
  16. grinners

    grinners Active Member Silver Stacker

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    I'm trying to set my wallet up.

    Is there a website where you can get a free .000000001 of a bitcoin sent out to check if you've set your wallet up right?
     
  17. silvertorrent

    silvertorrent New Member

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    Unfortunately; free bitcoin faucets don't pay anywhere near enough for the time spent on them, so linking those for wallet testing is rather redundant nowadays :(
     

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