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Old 06-19-2011, 06:31 PM   #226
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I bet the same people involved with stuxnet were involved in this.
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Old 06-19-2011, 06:32 PM   #227
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Old 06-19-2011, 06:33 PM   #228
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Originally Posted by Qcanfixit View Post
I bet the same people involved with stuxnet were involved in this.
What Siemens, Israeli programmers and US Gov?

Doubt it.
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Old 06-19-2011, 06:36 PM   #229
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Originally Posted by Chewyguru View Post
What Siemens, Israeli programmers and US Gov?

Doubt it.

AFAIK, these weird occurrences have only been happening since bitcoin began appearing on the mainstream radar.

circumstantial and flimsy, but definitely not to be ignored.
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Old 06-19-2011, 06:51 PM   #230
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Good lord, entire MtGox database is leaked with email/username and hashed passwords.
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Old 06-19-2011, 06:57 PM   #231
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*puts on Q hat*

wouldn't it be easy for highly trained usgov hackers to cause this havoc (so as to destroy all public faith in it), so much easier than shutting down this bitcoin stuff through legal means?
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Old 06-19-2011, 07:01 PM   #232
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I think it's more like greedy people trying to use their computer skills to make money off a virtual currency.
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Old 06-19-2011, 07:25 PM   #233
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Originally Posted by Qcanfixit View Post
I bet the same people involved with stuxnet were involved in this.
you keep getting dumber, i am disappoint...
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Old 06-19-2011, 07:27 PM   #234
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Oh snap.
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Old 06-19-2011, 07:31 PM   #235
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Speculation that someone got away with 50-100K of Bitcoins in a cyberheist bro....
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Old 06-19-2011, 07:32 PM   #236
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you keep getting dumber, i am disappoint...
yep, I'm dumb and I don't know anything about anything. I'm 100% uniformed, harmless and benign like a tumor.

if you have any real information, please feel free to share it. I feel like my brain is going to float away from being so empty.

please educate me in the ways of the world, old wise one.
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Old 06-19-2011, 07:33 PM   #237
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This makes no sense. How can you "mine" fake money on your computer and it be used to buy things?! I just dont get how it earns value..
..
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Old 06-19-2011, 07:36 PM   #238
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This makes no sense. How can you "mine" fake money on your computer and it be used to buy things?! I just dont get how it earns value..
..
Things have value because people decide they have value.
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Old 06-19-2011, 07:41 PM   #239
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This makes no sense. How can you "mine" fake money on your computer and it be used to buy things?! I just dont get how it earns value..
..
Quote:

Let’s start at the beginning. What are bitcoins? Essentially, they are hashes of numbers, a mathematical function that is easy to calculate in one way, but very difficult to calculate in the other. It takes tremendous to predict, given a hash of a number, which number originally belonged to it. Vice versa, you have no idea what hash you are going to get until you actually calculate it. This is the essence of a ‘raw’ bitcoin. The bitcoin network gives out ‘challenges’. An example is “find me the numbers that generate hashes whose numerical value is less than a certain amount”. Because you don’t know what the output of the hash function will be, your pc will just have to generate (semi-)random numbers, hash them and compare the output. If you’re lucky, one of those hashes is indeed the answer to the challenge, in which case it will be transformed into bitcoins.
http://www.colorfulwolf.com/blog/201...itcoin-mining/
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Old 06-19-2011, 07:47 PM   #240
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Originally Posted by Qcanfixit View Post
yep, I'm dumb and I don't know anything about anything. I'm 100% uniformed, harmless and benign like a tumor.

if you have any real information, please feel free to share it. I feel like my brain is going to float away from being so empty.

please educate me in the ways of the world, old wise one.
The information is posted in this thread, multiple times. (hint look at the volume of trades, and map that to the recent uptick in public bloating of hacking)

Something for you to think about Q.

Quote:
Over the past 50 years, researchers and observers of social dynamics have traced beliefs in conspiracy theories to feelings of powerlessness, attempts to bolster self-esteem and diminished faith in government.
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Old 06-19-2011, 07:54 PM   #241
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Originally Posted by HighWayDrifter View Post
The information is posted in this thread, multiple times. (hint look at the volume of trades, and map that to the recent uptick in public bloating of hacking)
nothing conclusive.

Quote:
Originally Posted by HighWayDrifter View Post
Something for you to think about Q.
when a professional investigator be it a cop, PI, federal agent, investigative reporter or whatever tries to investigate a situation or possible crime, what are they doing exactly?

are they not also theorizing about conspiracies? are they "powerless" or merely inquisitive and curious about why things work the way that they do?

since my credibility with you is 0 and your prejudice and bias against me is over 9000, I'll let someone else explain it for me:

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Old 06-19-2011, 10:39 PM   #242
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Things have value because people decide they have value.
Not exactly. Things like money have value because someone (usually a national government) says they will allow you to trade in your bills and coins for some physical object (gold, milk, car, oil) at a certain rate. As long as people have faith that the backer of the currency (government) will honor that the currency will remain relatively stable.

No one is guaranteeing to back bitcoins. Therefore they will always be volatile and will ultimately be worthless. They are like baseball cards. Some people will collect them and pay money for them or exchange goods for them, but if everyone decides to sell their collection on the same day there is no one guaranteeing that they will have some value. The value will drop to zero very quickly. That sort of volatility makes it very risky for retailers to accept it as payment. A retailer accepting bitcoins is like a Walmart accepting baseball cards as payment.
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Old 06-19-2011, 11:39 PM   #243
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Originally Posted by Qcanfixit View Post
nothing conclusive.



when a professional investigator be it a cop, PI, federal agent, investigative reporter or whatever tries to investigate a situation or possible crime, what are they doing exactly?

are they not also theorizing about conspiracies? are they "powerless" or merely inquisitive and curious about why things work the way that they do?

since my credibility with you is 0 and your prejudice and bias against me is over 9000, I'll let someone else explain it for me:

YouTube - ‪George Carlin - Conspiracy Theorists‬‏

Conspiracy exists, it just isnt responsible for every single action/reaction in the world like you seem to portray on this forum.

For instance, the drop in bitcoin most likely is a function of its increased popularity, improper design as a stable currency, and all time value highs (inciting those who got in early to cash out quickly).

It was all discussed in this thread, you were just busy figuring out imaginary stories to explain the same effects that fit your own desires and ego. (just my take on it of course)
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Old 06-20-2011, 01:21 AM   #244
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Well, would you say this is just it's "big crash" and that it's gonna stable out from here for the most part having survived it, or do you think it's gonna be completely volatile for it's remainder?
Volatility like a mother ****er. Mt. Gox, among many others, is completely offline.



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Old 06-20-2011, 01:25 AM   #245
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Quote:
Originally Posted by Howl View Post
Not exactly. Things like money have value because someone (usually a national government) says they will allow you to trade in your bills and coins for some physical object (gold, milk, car, oil) at a certain rate. As long as people have faith that the backer of the currency (government) will honor that the currency will remain relatively stable.

No one is guaranteeing to back bitcoins. Therefore they will always be volatile and will ultimately be worthless. They are like baseball cards. Some people will collect them and pay money for them or exchange goods for them, but if everyone decides to sell their collection on the same day there is no one guaranteeing that they will have some value. The value will drop to zero very quickly. That sort of volatility makes it very risky for retailers to accept it as payment. A retailer accepting bitcoins is like a Walmart accepting baseball cards as payment.
Well, in this case, it has value because people decided it had value.
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Old 06-20-2011, 02:04 AM   #246
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These hacks and compromises were bound to happen. These things won't be the demise of Bitcoin; in fact they are necessary. Bitcoin is such a new concept that it has to survive a lot of hacks and compromises before it can ever serve a large userbase. Stuff like this is going to happen until the Bitcoin players are able to resist these hack attempts.

It really only makes the network stronger than it was before.
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Old 06-20-2011, 02:13 AM   #247
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Quote:
Originally Posted by HighWayDrifter View Post
Conspiracy exists, it just isnt responsible for every single action/reaction in the world like you seem to portray on this forum.

For instance, the drop in bitcoin most likely is a function of its increased popularity, improper design as a stable currency, and all time value highs (inciting those who got in early to cash out quickly).

It was all discussed in this thread, you were just busy figuring out imaginary stories to explain the same effects that fit your own desires and ego. (just my take on it of course)
here's the best part: every plan ever conceived that's ever impacted anyone in a negative way, either through indifference, negligence or on purpose, is a conspiracy. don't you just love how language works?

I've never seriously portrayed these things to to be anything other than what they are; people with too much power, too much influence, too much money, too far a reach who lack empathy and compassion for anyone who isn't one of them.

anything else is hyperbole I used to make a point or to garner a certain amount of attention to a specific point without me having to spell the entire thing out.

the funny thing is if you met me, aside from the appearance of driving like I have a death wish, I would be the most normal person you've ever interacted with.

enough about me, what happened to you in your life that made you so cranky?
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Old 06-20-2011, 02:25 AM   #248
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Originally Posted by Silverpike View Post
These hacks and compromises were bound to happen. These things won't be the demise of Bitcoin; in fact they are necessary. Bitcoin is such a new concept that it has to survive a lot of hacks and compromises before it can ever serve a large userbase. Stuff like this is going to happen until the Bitcoin players are able to resist these hack attempts.

It really only makes the network stronger than it was before.
Came in to post this, pretty much. Something of this magnitude and complexity would be very difficult to model in any meaningful way, so the only way to test and improve the system is to make it subject to real world events and market forces. It also would not surprise me one bit if the banks were behind at least some of it.
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Old 08-16-2011, 12:41 PM   #249
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Old 08-16-2011, 06:40 PM   #250
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Anyone have the article about how somebody got hacked a week or two back, and the hacker sold off all of the victim's Bitcoins, causing a huge market crash?
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