Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Please note this sub-forum does not provide professional finance advice. You should seek advice from a licensed financial advisor. If investing please consider our affiliate links for new accounts: Sharesies or Hatch. To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification



Geektastic

16725 posts

Uber Geek

Trusted
Lifetime subscriber

#141274 7-Mar-2014 00:00
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! ;-(





Filter this topic showing only the reply marked as answer View this topic in a long page with up to 500 replies per page Create new topic
 1 | 2 | 3 | 4 | 5
Affiliate link
 
 
 

Affiliate link: You will find anything you want at MightyApe.
Buzz Bumble
332 posts

Ultimate Geek
Inactive user


  #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.

DravidDavid
1907 posts

Uber Geek


  #1000540 7-Mar-2014 09:29
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.

greenbone
176 posts

Master Geek


  #1000579 7-Mar-2014 10:29
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



greenbone
176 posts

Master Geek


  #1000582 7-Mar-2014 10:33
Send private message

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

bazzer
3392 posts

Uber Geek

Trusted

  #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?

greenbone
176 posts

Master Geek


  #1000600 7-Mar-2014 10:49
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

Geektastic

16725 posts

Uber Geek

Trusted
Lifetime subscriber

  #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.







MikeB4
17086 posts

Uber Geek

ID Verified
Trusted
Subscriber

  #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

greenbone
176 posts

Master Geek


  #1000647 7-Mar-2014 11:29
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

MikeB4
17086 posts

Uber Geek

ID Verified
Trusted
Subscriber

  #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

ubergeeknz
3344 posts

Uber Geek

Trusted
Vocus

  #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...

greenbone
176 posts

Master Geek


  #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

MikeB4
17086 posts

Uber Geek

ID Verified
Trusted
Subscriber

  #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

greenbone
176 posts

Master Geek


  #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

Sideface
7534 posts

Uber Geek

Trusted
DR
Lifetime subscriber

  #1000677 7-Mar-2014 12:04
Send private message

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




Sideface


 1 | 2 | 3 | 4 | 5
Filter this topic showing only the reply marked as answer View this topic in a long page with up to 500 replies per page Create new topic





News and reviews »

D-Link G415 4G Smart Router Review
Posted 27-Jun-2022 17:24


New Zealand Video Game Sales Reaches $540 Million
Posted 26-Jun-2022 14:49


Github Copilot Generally Available to All Developers
Posted 26-Jun-2022 14:37


Logitech G Introduces the New Astro A10 Headset
Posted 26-Jun-2022 14:20


Fitbit introduces Sleep Profiles
Posted 26-Jun-2022 14:11


Synology Introduces FlashStation FS3410
Posted 26-Jun-2022 14:04


Intel Arc A380 Graphics First Available in China
Posted 15-Jun-2022 17:08


JBL Introduces PartyBox Encore Essential Speaker
Posted 15-Jun-2022 17:05


New TVNZ+ streaming brand launches
Posted 13-Jun-2022 08:35


Chromecast With Google TV Review
Posted 10-Jun-2022 17:10


Xbox Gaming on Your Samsung Smart TV No Console Required
Posted 10-Jun-2022 00:01


Xbox Cloud Gaming Now Available in New Zealand
Posted 10-Jun-2022 00:01


HP Envy Inspire 7900e Review
Posted 9-Jun-2022 20:31


Philips Hue Starter Kit Review
Posted 4-Jun-2022 11:10


Sony Expands Its Wireless Speaker X-series Range
Posted 4-Jun-2022 10:25









Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.