i want a bitcoin
― sleepingbag, Thursday, 21 November 2013 17:47 (ten years ago) link
cram it
― frogbs, Thursday, 21 November 2013 17:49 (ten years ago) link
these things hit $900 the other day????????
wtf.
gimme the bitcoins.
― sleepingbag, Thursday, 21 November 2013 17:49 (ten years ago) link
xp frogs it easily can be true since bitcoins have been going up, it could also be true in a bear market but that would be a better trick
― lag∞n, Thursday, 21 November 2013 18:16 (ten years ago) link
i wonder how many bitcoins d34thdr0ne3 has
― ᶓ͠סּᴥ͠סּᶔ ᶓͼ᷆ₓͼ᷇ᶔ (gr8080), Thursday, 21 November 2013 18:21 (ten years ago) link
he keeps them in a cigar box
― lag∞n, Thursday, 21 November 2013 18:23 (ten years ago) link
frogs it easily can be true since bitcoins have been going up, it could also be true in a bear market but that would be a better trick
I don't doubt the fact that you can make money that way but rather the idea that this hasn't reached bitcoin-mining levels of inefficiency a long time ago. If he's making "thousands of dollars" running one script surely there are thousands of others running similar ones?
― frogbs, Thursday, 21 November 2013 18:45 (ten years ago) link
sure but instead of running a script he could just buy bitcoins and that would work to, making money in a bull market is easy
― lag∞n, Thursday, 21 November 2013 18:46 (ten years ago) link
Frogs if what he's doing is taking advantage of price differences between the exchanges then yes it is possible and in fact there is literally trillions of dollars invested in the practice at this moment
http://en.wikipedia.org/wiki/Arbitrage
― 乒乓, Thursday, 21 November 2013 18:49 (ten years ago) link
It requires a lot of capital to really be worth it though and he is at the risk of having his entire position wiped out by either 1) an error in his script or 2) the freefall nature of speculative investments
― 乒乓, Thursday, 21 November 2013 18:51 (ten years ago) link
it sounds like it's more just working off the wild fluctuations in pricing and probably what makes it viable is a completely unregulated trading market without (significant) transaction fees, i'm guessing
― sleepingbag, Thursday, 21 November 2013 18:52 (ten years ago) link
Transaction fees would be hindrance, for sure
The other possibility is http://en.wikipedia.org/wiki/High-frequency_trading
― 乒乓, Thursday, 21 November 2013 18:53 (ten years ago) link
yeah it could be arbitrage (I used to do a similar thing in sportsbetting and yeah you can accidently go broke quick) but he also claims he didn't invest anything into it, something seems odd about it
still this stuff is pretty fascinating. A complete crash seems inevitable at some point. The potential for fraud is through the roof with these things.
― frogbs, Thursday, 21 November 2013 18:55 (ten years ago) link
so many tech 3.0 services are basically crowdsourced versions of existing things without any sort of regulations protections or oversight at all
― sleepingbag, Thursday, 21 November 2013 18:57 (ten years ago) link
Could be he's using other people's money. Have you checked your bank account recently xp
― 乒乓, Thursday, 21 November 2013 18:58 (ten years ago) link
someone just moved $147m in BC
https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204
― ᶓ͠סּᴥ͠סּᶔ ᶓͼ᷆ₓͼ᷇ᶔ (gr8080), Friday, 22 November 2013 18:44 (ten years ago) link
me irl
― lag∞n, Friday, 22 November 2013 18:45 (ten years ago) link
someone linked to an article yesterday where the headline was "Bitcoin: The Segway of Currencies" lol
― flopson, Friday, 22 November 2013 19:18 (ten years ago) link
http://i.imgur.com/rhJYFVq.jpg
― 乒乓, Saturday, 23 November 2013 18:49 (ten years ago) link
^^ overstates condom effectiveness
― Aimless, Saturday, 23 November 2013 18:51 (ten years ago) link
http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=60&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&
― William Brosinski (rip van wanko), Saturday, 23 November 2013 19:13 (ten years ago) link
researchers positing a dpr/satoshi connection!
http://bits.blogs.nytimes.com/2013/11/23/study-suggests-link-between-dread-pirate-roberts-and-satoshi-nakamoto
― lag∞n, Sunday, 24 November 2013 18:34 (ten years ago) link
alex winter
http://www.kickstarter.com/projects/alexwinter/deep-web-the-untold-story-of-bitcoin-and-the-silk
― am0n, Monday, 25 November 2013 19:12 (ten years ago) link
party on
― lag∞n, Monday, 25 November 2013 19:15 (ten years ago) link
from circle k to circle b
― am0n, Monday, 25 November 2013 19:23 (ten years ago) link
i'd watch that
― frogbs, Monday, 25 November 2013 19:30 (ten years ago) link
frogⒷs
― am0n, Monday, 25 November 2013 19:42 (ten years ago) link
http://i.imgur.com/o3BbZI4.png
― 乓乒 (gr8080), Tuesday, 26 November 2013 01:25 (ten years ago) link
Researchers Retract Claim Of Link Between Alleged Silk Road Mastermind And Founder Of Bitcoin
http://www.businessinsider.com/silk-road-satoshi-paper-retraction-2013-11
dang
― lag∞n, Wednesday, 27 November 2013 03:48 (ten years ago) link
just hit $1000, wow
― frogbs, Wednesday, 27 November 2013 15:20 (ten years ago) link
that buys a lot of subway
― Roberto Spiralli, Wednesday, 27 November 2013 15:23 (ten years ago) link
Bitcoin is over fwiw. I'm all in on Litecoin
― 乒乓, Wednesday, 27 November 2013 15:30 (ten years ago) link
serious question. if I wanted to say, buy one bitcoin and then sell it a day later, how long before I'd see any actual cash? how much would I lose in transaction fees? is such a thing even possible in the U.S. without some major hoop jumping right now?
― frogbs, Wednesday, 27 November 2013 15:48 (ten years ago) link
frogbs I'm gonna say that this week is your lucky week. All the details are here
http://blog.coinbase.com/post/68147862129/coinbase-to-waive-all-fees-on-11-29-13-in-support-of
― 乒乓, Wednesday, 27 November 2013 15:49 (ten years ago) link
But I have a better way. Just paypal me the money you wanna spend at ilxbitcoinexcha✧✧✧@gm✧✧✧.c✧✧ and I'll take care of everything for you. Remember to tell me how many bitcoins you wanna buy
― 乒乓, Wednesday, 27 November 2013 15:51 (ten years ago) link
hit up my etsy storefront if you are SERIOUSLY interested in buying bitcoin no time wasters
― Roberto Spiralli, Wednesday, 27 November 2013 15:53 (ten years ago) link
i'm not interested. i'm just curious if it's even possible. from what I've read it seems like someone who bought it at $20 and now wanted to sell would have a very difficult time of doing so. like it would almost be easier to just blow it all on drugs and then sell those.
― frogbs, Wednesday, 27 November 2013 16:36 (ten years ago) link
Yeah I really have to question how much liquidity there actually is on the market
― 乒乓, Wednesday, 27 November 2013 16:39 (ten years ago) link
right. like half the stories on ycombinator are "this has taken 3 weeks and I needed to give a ton of sensitive information" and the other half are "I got hacked and lost it all"
― frogbs, Wednesday, 27 November 2013 16:41 (ten years ago) link
― 乒乓, Wednesday, November 27, 2013 8:30 AM (2 hours ago) Bookmark Flag Post Permalink
i was getting all bitcoin jealous yesterday and started to look at litecoin but couldn't figure out how to buy them, anyway they were $18 yesterday and now they're $29 today
― sleepingbag, Wednesday, 27 November 2013 18:03 (ten years ago) link
http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site
http://replygif.net/i/1049.gif
― am0n, Wednesday, 27 November 2013 18:22 (ten years ago) link
http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/
― 乒乓, Thursday, 28 November 2013 19:08 (ten years ago) link
http://www.reddit.com/r/SheepMarketplace/comments/1ru5ir/founda_wallet_containing_98million_worth_of_coins/
― 乒乓, Sunday, 1 December 2013 19:52 (ten years ago) link
http://www.reddit.com/r/SheepMarketplace/
Lol Bitcoin users who used this service just got scammed out of all their bitcoins
― 乒乓, Sunday, 1 December 2013 19:53 (ten years ago) link
loll the benefits of anonymous currency
― lag∞n, Sunday, 1 December 2013 20:36 (ten years ago) link
every private/public key just leaked
http://directory.io/
― frogbs, Sunday, 1 December 2013 21:20 (ten years ago) link
dunno if that means anything considering the insane amount of data this is but lol
what does that actually mean
― socki (s1ocki), Monday, 2 December 2013 02:32 (ten years ago) link
I don't really understand this too well but I think that each 'wallet' has a public key, of which there is a finite number available. One of the flaws in bitcoin is that two people could theoretically be assigned the same public key, in which case you could gain access to all the other guy's coins (and vice versa). There are so many public keys out there that this should pretty much never happen. Anyway apparently someone cracked the algorithm that generates the private keys and put up this website which matches up every potential public key to its private key, which is kinda useless since only like 0.00000001% of those keys contain any actual bitcoin. That said obviously all these pages here are only generated upon request which means that people who look up their own keys 'generate' the page which someone else can take to mean that money actually exists somewhere on that page.
― frogbs, Monday, 2 December 2013 14:20 (ten years ago) link
does it mean that someone can look up someone else's public key, get their private key, and do something nefarious wiht it?
― socki (s1ocki), Monday, 2 December 2013 15:15 (ten years ago) link