(This is a long post, but so mind-blowingly worth it.) Photo: Michael Schmelling . On Friday of last week we noticed that one of our pooled holding servers was missing a large amount of Bitcoins. It was probably the largest, most sophisticated foreclosure scam I’ve ever heard about, before or since then. Nobel Prize-winning economist Paul Krugman wrote that the currency's tendency to fluctuate has encouraged hoarding. Claims of theft and losses seem pretty easy to discover on Google. Bitcoin is not succeeding the way many people want, and it’s getting ugly. They generally have a policy on when they can cancel trades, but there are general Act of Gold like causes which lets them weasel any situation to be able to cancel. But having seen this conversation in my Recent Activity the past few days dominated by like five people, I think I might pick up a few bitcoins, but only so I can use reminisce about them like Pogs ten years from now, and perhaps try to spend them "ironically.". That would seem to argue in favor of my assertion that they are a scam. They are not the same thing. The defining charactaristic of money is not the "generally accepted" part, that's why it's not part of many definitions of money, e.g. The pool is the entity connected to collect transactions. It had to be a cypherpunk that ran it. That is pretty much the extent of how they are relavent to anything in this discussion. Well, hang ontoyourbutts because it’s about to get real conspiracy theory-like up in here. It just keeps spamming out 300 new btc/hour. Annastasia Arbucci Lived there from 1995-2002 citations include: Bitcoin's chief proselytizer, Bruce Wagner, at one of the few New York City restaurants that accept the currency. Yeah, it is really neckbeardy at this point, the tools really need to be written to make this stuff easy. MtGox claims to have magically restored everyone's accounts and reversed bad transactions. Even as the currency's value has continued to drop, they are still investing in the fragile economy. Remember that name Tom Williams? Yes I know there are members here who have made money processing blocks and mining. Don't worry, just subtract the value of the bitcoins from the cash you send me and buy the bitcoins yourself. bitcoin, bruce wagner, fucked up, rape, thoughts "This was something that was going to go up, up, up.". My point is, we should go back to the meat standard. No evil dictator tyrant can print zillions and destroy the value," says Bruce Wagner, organizer of New York's Bitcoin developer's meet-up. He was barred from running his business there, and since I get the feeling that Bruce hasn’t worked a normal 9-5 job I’d say that he was effectively unable to stay in the state. Blocks are sOlved every 10 minutes no matter the amount of miners. Boy, this article makes a lot of sents too. Did Google ever beta some financial transaction system? Transaction replication amongst nodes are not a problem for a while. Bitcoin network growth has plateaued. Speeding tickets show relationship with Edward Gel, and was there till 2002. Midnight Nambla Exchange rate risk is real in any small economy, no one should be surprised that this happens. And good luck trying to dispute any canceled trades by the exchange, there's a dispute process, but nobody ever wins. The offer is good for up to 3 people here willing to trade GPG signed emails with me (I like Bitcoin but there are limits even to my craziness). In any case, if you're holding a substantial amount of cash-equivalents (M0/M1) in normal markets you're doing investing wrong. September 2, 2011 @ "I exchanged some emails with whoever Satoshi supposedly is," says Hanyecz, who was on bitcoin's core developer team for a time. Consider your iPhone example though as a thought experiment. taxes, are paid in dollars if you are a US citizen, but that's nothing innate about that dollar, it's just a very very big merchant that will only accept dollars. nice FUD. I want to remind everyone though, that any “wallet-keeping service” of any sort, for any wallet, physical or virtual, should be looked at as suspicious and quite frankly everyone that used the service is IMO a dumbass. I'm talking about the functional reality, it's useless currency if you don't switch it back to dollars at some point. BRB, checking on thangs. Bruce is a natural hype man. Bitcoin seems awfully well designed for one person to crank out. If there's anything which looks like handwaving, I'd really like to clarify anything that may look like dismissal or head-in-sand ignorance. I'd agree with delmoi here, bitcoin and gold are both currently bubbles, but neither qualifies as a ponzi scheme. Szabo also denies that he is Nakamoto, and so does Dai. Has Bruce Wagner pulled off a massive scam on the bitcoin community? I'm not stupid just because I disagree with you. Great. Anyway one thing I would like to say if the person who started on about him being a “fag” is that I am gay also and that talk is offensive. If these guys had read Graeber's book they would know: FIRST you have debts. Bitcoin is an innovative payment network and a new kind of money. Not tranasctions per day. bold funding, bruce, fraud, Illinois, mortgage, mybitcoin, scam, scum, shithead, tod, tom, wagner, williams EDIT: Notice: The nature of this action is assault; landlord tenuant occuppancy, and use, fraud in the induicement. Ad Choices. You must next time be more subtle. It's ironic that a "bank" existed at all for BitCoins, as the whole point of it is to get rid of the need for bankers, and their theft by inflation of our money.

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