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Topic # 141274 7-Mar-2014 00:00 One person supports this post Send private message

From the Times of London:

"The “unnatural” death of a Bitcoin exchange chief found dead in a Singapore apartment block is being investigated by police. In the latest scandal to surround the virtual currency, Singapore police said Autumn Radtke, the 28-year-old chief executive of First Meta, died on February 26 but that no foul play was suspected. Broadcaster Channel NewsAsia said on its website that Ms Radtke “was found dead at the bottom of an apartment block”. Ms Radtke started her career working with Richard Branson as a consultant for Virgin Charter at the age of 22. She has worked for a number of blue-chip companies, including T-Mobile, Verizon Wireless, Clear Channel and Universal. She also spent a period as a freelance for Apple, providing cloud computing software to California institutions, and was a former director of business development at computer game software company Xfire, according to hollywoodlife.com. Her death comes at a make-or-break time for Bitcoin as it attempts to withstand the closure of Tokyo-based MtGox, one of the longest-established Bitcoin exchanges, due to a suspected theft worth an estimated half a billion dollars."

Seems virtual currency is not a good thing to be associated with just now! ;-(








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Ultimate Geek
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  Reply # 1000533 7-Mar-2014 09:18 Send private message

Geektastic: Seems virtual currency is not a good thing to be associated with just now! ;-(


The whole idea was lunacy from the start ... more like Bit-Con.

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Uber Geek
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  Reply # 1000540 7-Mar-2014 09:29 2 people support this post Send private message

Buzz Bumble:
Geektastic: Seems virtual currency is not a good thing to be associated with just now! ;-(


The whole idea was lunacy from the start ... more like Bit-Con.

Bitcoin is no different to the worthless paper money we trade at the moment.  Bitcoin is worth something because people give it value, just like a fifty dollar note.  It will drop and bounce back like any other market regardless of all the drama going on in the background.

I wanted to start trading bitcoin at $30.00 a coin and thought it was too expensive, then it was cheaper to buy in to gold all of a sudden and I was kicking myself.  It might not be physical currency and it exists on the internet that technically does not exist, but as long as people keep trading and mining, they will always have some sort of value.





Sometimes what you don't get is a blessing in disguise!

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Master Geek
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  Reply # 1000579 7-Mar-2014 10:29 One person supports this post Send private message

Buzz Bumble:

The whole idea was lunacy from the start ... more like Bit-Con.


bit CON, thats great! so clever and definitely original. coin ... con ... genius. i hear too its a ponzi scheme, and also a pyramid scheme. should probably mention tulips too, just to be sure

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Master Geek
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  Reply # 1000582 7-Mar-2014 10:33 3 people support this post Send private message

breaking news: man in small rural petrol station commits suicide ... declining profits in oil industry cited as cause

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  Reply # 1000587 7-Mar-2014 10:38 Send private message

greenbone: breaking news: man in small rural petrol station commits suicide ... declining profits in oil industry cited as cause

Source?

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Master Geek
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  Reply # 1000600 7-Mar-2014 10:49 2 people support this post Send private message

bazzer:
greenbone: breaking news: man in small rural petrol station commits suicide ... declining profits in oil industry cited as cause

Source?


the correlation does not imply causation daily



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  Reply # 1000628 7-Mar-2014 11:13 Send private message

DravidDavid:
Buzz Bumble:
Geektastic: Seems virtual currency is not a good thing to be associated with just now! ;-(


The whole idea was lunacy from the start ... more like Bit-Con.

Bitcoin is no different to the worthless paper money we trade at the moment.  Bitcoin is worth something because people give it value, just like a fifty dollar note.  It will drop and bounce back like any other market regardless of all the drama going on in the background.

I wanted to start trading bitcoin at $30.00 a coin and thought it was too expensive, then it was cheaper to buy in to gold all of a sudden and I was kicking myself.  It might not be physical currency and it exists on the internet that technically does not exist, but as long as people keep trading and mining, they will always have some sort of value.


However, given almost any electronic thing can be copied, I never really saw how they could prevent someone making it by nefarious means. On the face of it, it would be cheaper to get the kit required than it ever would to forge paper money.








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  Reply # 1000632 7-Mar-2014 11:19 Send private message

Geektastic:
DravidDavid:
Buzz Bumble:
Geektastic: Seems virtual currency is not a good thing to be associated with just now! ;-(


The whole idea was lunacy from the start ... more like Bit-Con.

Bitcoin is no different to the worthless paper money we trade at the moment.  Bitcoin is worth something because people give it value, just like a fifty dollar note.  It will drop and bounce back like any other market regardless of all the drama going on in the background.

I wanted to start trading bitcoin at $30.00 a coin and thought it was too expensive, then it was cheaper to buy in to gold all of a sudden and I was kicking myself.  It might not be physical currency and it exists on the internet that technically does not exist, but as long as people keep trading and mining, they will always have some sort of value.


However, given almost any electronic thing can be copied, I never really saw how they could prevent someone making it by nefarious means. On the face of it, it would be cheaper to get the kit required than it ever would to forge paper money.


+1




Mike

 Interesting. You're afraid of insects and women. Ladybugs must render you catatonic.

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Master Geek
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  Reply # 1000647 7-Mar-2014 11:29 One person supports this post Send private message

wow what? i thought this forum was a little more informed ...

take 2 minutes and read this: https://medium.com/p/73b4257ac833

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Uber Geek
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  Reply # 1000667 7-Mar-2014 11:42 Send private message

greenbone: wow what? i thought this forum was a little more informed ...

take 2 minutes and read this: https://medium.com/p/73b4257ac833


it is




Mike

 Interesting. You're afraid of insects and women. Ladybugs must render you catatonic.

Voice Engineer @ Orcon
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  Reply # 1000670 7-Mar-2014 11:45 Send private message

The thing is it *can* be cheated, you just need to control enough nodes which are keeping ledgers...

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Master Geek
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  Reply # 1000671 7-Mar-2014 11:47 Send private message

ubergeeknz: The thing is it *can* be cheated, you just need to control enough nodes which are keeping ledgers...


i *can* also walk on the moon, i just need enough money to fund a space program

technically not impossible, but very very expensive and requires a huge amount of resources

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  Reply # 1000673 7-Mar-2014 11:50 Send private message

greenbone:
ubergeeknz: The thing is it *can* be cheated, you just need to control enough nodes which are keeping ledgers...


i *can* also walk on the moon, i just need enough money to fund a space program

technically not impossible, but very very expensive and requires a huge amount of resources


if there is a way to cheat something underground resources are always found




Mike

 Interesting. You're afraid of insects and women. Ladybugs must render you catatonic.

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Master Geek
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  Reply # 1000676 7-Mar-2014 11:57 Send private message

KiwiNZ:
greenbone:
ubergeeknz: The thing is it *can* be cheated, you just need to control enough nodes which are keeping ledgers...


i *can* also walk on the moon, i just need enough money to fund a space program

technically not impossible, but very very expensive and requires a huge amount of resources


if there is a way to cheat something underground resources are always found


lets say you are right. an underground syndicate comes up with the many billions of dollars and technical knowhow to implement a 51 percent attack on the network

the attack is successful - blockchain transactions are altered - the syndicate moves bitcoin to address in their control

given that the blockchain is a global ledger, everyone can see this occuring in real time. what then happens to the price of bitcoin? yep, zero

so the underground syndicate has spent billions of dollars acquiring digital trinkets worth zero. great plan

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Ultimate Geek
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  Reply # 1000677 7-Mar-2014 12:04 One person supports this post Send private message

Remember Tulip mania?  http://en.wikipedia.org/wiki/Tulip_mania
Tulips = Bitcoins




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