DID YOU VOTE FOR ME?!? Couldn't rememmber what name you preferred so I voted for both Miss Z and your Deejay Fag House 3000-nick this year.
Posted by MSZ on Dec-03-2011 01:04:
ya bro. did you check the rankings? i beat out speedy J and funk d'void those btchs have nothing on me.
Posted by itsamemario on Dec-03-2011 01:08:
i made a flyer for a party funk d'void played at once. i have no idea who this speedy j is, but if he's anything like speedy gonzales then i know im gonna love him. arriba arriba andale
Posted by MSZ on Dec-03-2011 01:10:
the j stands for jew, he spins the best acetate dreidels.
Posted by kadomony on Dec-03-2011 05:53:
you could've bought a nuclear warhead or maybe some obedient man-beasts to do your bidding and you buy WEED? PFFT.
nah that's cool to see it in action, though. nice!
Posted by pkcRAISTLIN on Dec-03-2011 06:10:
quote:
Originally posted by Lews
Too bad it's not.
bitcoin is fucking worthless.
http://www.wired.com/magazine/2011/11/mf_bitcoin/all/1
Posted by LoveHate on Dec-03-2011 07:45:
quote:
Originally posted by OrangestO
It's not an easy thing to setup and use, but if you do your research and put some time into it you'll figure it out.
I sold 52 bitcoins for $120 (2.30/coin)
Today that price is up to $3.14/coin ($163.28)
Even though I still profited money minus my transaction, I could have had more if I waited.
I got my withdrawal check back in the mail today, too.
The hardest thing to figure out is how the bitcoin works and how you transfer funds between accounts and your supplier. Oh, and encryption for messaging.
Good luck
I tried to figure it all out one day, but gave up. Posted by itsamemario on Dec-03-2011 11:00:
quote:
Originally posted by pkcRAISTLIN
bitcoin is fucking worthless.
You have to read what's below the ingress as well.
Posted by OrangestO on Dec-03-2011 14:59:
quote:
Originally posted by dj_alfi
How much did you end up paying including the shipping? and how does it compare to the local weed prices?
I payed $180 for half an ounce of White Rhino.
In comparison, a little cheaper. But the more you buy the cheaper it becomes, as usually the case on the streets. Unless you live in a place where there's dispensaries around the corner, this place is going to give you a cheaper and MUCH better product.
Shipping was included in the price.
Posted by Meat187 on Dec-03-2011 15:41:
quote:
Originally posted by Joss Weatherby
Just wait till the dealers find out bitcoin is worthless.
quote:
Originally posted by pkcRAISTLIN
bitcoin is fucking worthless.
If it can buy you drugs it's certainly not worthless.
Posted by on Dec-03-2011 18:38:
If I can use bitcoin to order a hit on pkc it's not useless.
Oh, I think they're stupid, but they're not worthless. If people are willing to pay (real) money in exchange for them, they have value.
Personally I find the idea of some jaded, old programmer/academic making them up, selling them when they were near the peak, and then retiring hilarious.
Posted by pkcRAISTLIN on Dec-04-2011 02:16:
quote:
Originally posted by Meat187
If it can buy you drugs it's certainly not worthless.
sure, if people are willing to pay for something then that's what it's worth, but as an alternative currency (which is what it has been designed to be) it's fucking worthless.
Posted by Blake on Dec-04-2011 02:56:
Browsed Silk Road a bit after the first thread was up, but was deterred by how involved the bitcoin process sounded. Glad to know it actually worked out for someone here.
Posted by LAdazeNYnights on Dec-04-2011 03:07:
^I was just afraid that I'd put enough money into bitcoin to purchase what I wanted but see it too devalued by the time I made a deal.
Posted by Nrg2Nfinit on Dec-04-2011 04:34:
kind of like chinese currency.
Posted by Meat187 on Dec-04-2011 11:45:
quote:
Originally posted by pkcRAISTLIN
sure, if people are willing to pay for something then that's what it's worth, but as an alternative currency (which is what it has been designed to be) it's fucking worthless.
What makes you so sure? After all the dollar is also nothing but a worthless piece of paper. The value always comes from trust and acceptance. I think Bitcoin is a pretty clever idea, whether it works depends on the masses now. Certainly Silk Road is the best thing that could have happened for Bitcoin. Now imagine Amazon starts accepting them...
Posted by pkcRAISTLIN on Dec-04-2011 14:19:
quote:
Originally posted by Meat187
After all the dollar is also nothing but a worthless piece of paper.
i think that's overly simplistic. a dollar is guaranteed by a government; all debts and goods/services are available to be paid in that unit of currency. when bad things happen to a dollar, there are mechanisms and central authorities to protect it.
quote:
Originally posted by Meat187
The value always comes from trust and acceptance.
how does one "trust" the faceless and anonymous users of bitcoin, especially considering the most useful things you can buy with it are drugs (and child porn i would suspect)? the article i referenced provides several examples of dodgy bitcoin activity (theft, fraud etc).
quote:
Originally posted by Meat187
I think Bitcoin is a pretty clever idea,
i am sure it is quite a technological achievement. definitely must be pretty clever.
quote:
Originally posted by Meat187
whether it works depends on the masses now. Certainly Silk Road is the best thing that could have happened for Bitcoin.
but its practically the only thing to happen to bitcoin.
quote:
Originally posted by Meat187
What makes you so sure?
a currency needs to provide a relatively stable store of value. thus far it has gone from absolutely worthless to highly unstable. since we're talking about a virtual currency, prices of items would fluctuate wildy every day.
there won't ever (under the current algorithm) be enough bitcoins available to adequately fund consumer needs (if we're talking about it as a competing currency); bitcoins favoured early adopters which encourages hoarding, and exacerbates wild fluctuations in value, and contributes to relatively few individuals having great impact on the market.
bitcoin has no protections. if a bank robber storms my local bank, all my money is insured by the federal government. if someone misuses my credit card, its insured by my bank. i don't lose a dime. if your bitcoins get snatched, its tough titties.
it can't buy shit. drugs. child porn. how can it compete against more useful services which also provide consumer protection?
it is kind of like someone took the worst aspects of fiat currency and married them with the worst aspects of the gold standard and voila, bitcoin.
that's all i can think of right now. im sure there are many other reasons. that article was a good place to start. if you can get in and make some money off it, then why not? but there are far better betting games to be had in life than the creation of fake money that is only worth anything when you exchange it for real money.
Posted by Meat187 on Dec-04-2011 18:54:
quote:
Originally posted by pkcRAISTLIN
You're mixing up quite a lot of things there.
First, these mechanisms and central authorities can equally fuck things up. See the current Euro crises. Of course a 13 word statement is simplified, but we've seen enough currencies going down in history to know that it's very true.
Second, Bitcoin is a replacement for hard cash, not banks or credit cards, so comparisons with those make no sense. Theoretically, institutions like that could exist for Bitcoin. You're right about its current state and capabilities. What I'm saying that it can either way from now, either becoming completely worthless or establishing itself more (as I said, imagine Amazon starts accepting it).
Posted by Taipan on Dec-04-2011 19:24:
quote:
Originally posted by Meat187
Certainly Silk Road is the best thing that could have happened for Bitcoin.
Not even close. Online Poker.
Posted by Meat187 on Dec-04-2011 19:27:
Care to explain why to those of us who have no clue about the world of online poker?
Posted by srussell0018 on Dec-04-2011 19:28:
It's illegal in the states to gamble online I believe. But the online poker world was massive before they banned it (some people often making their living from online poker alone), so it obviously wasn't just going to go away. Hence, bitcoin.
Posted by Taipan on Dec-04-2011 19:29:
quote:
Originally posted by pkcRAISTLIN
i think that's overly simplistic. a dollar is guaranteed by a government; all debts and goods/services are available to be paid in that unit of currency. when bad things happen to a dollar, there are mechanisms and central authorities to protect it.
Nope. When bad things happen to the dollar i.e it devalues - that would make paying for those debts, goods and services cheaper and easier. Therefore the government has less reason to protect it.
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