Bitcoins

frogbs otm, just a weird question to leave hanging without pointing out that converting btc to real dollars at that rate is impossible and would destroy the market

But he could easily sell off a mil or two without causing a blip, I'd think. Why not just do that?

(a million united states of amerikkka fiat dollars worth I mean)

has anyone been able to do that?

Aren't there still Winklevosses etc. out there willing to pony up real cash?

Wau @ the magic the gathering reveal

has anyone been able to do that?

― frogbs, Thursday, March 6, 2014 11:38 AM Bookmark Flag Post Permalink

I don't understand why it would be difficult -- I mean just watching the trades here: https://bitcoinity.org/markets, it seems pretty clear that there's enough volume to do that, if not all in one shot, then gradually over a few days or weeks or months at worse.

He doesn't have to sell it all to one dude, that's not how it works.

what about a bro?

fyi, the numbers are "mBTC" not bitcoin, so 49,232 = 49 and change bitcoins, not 49 thousand. Still, that's like $30,000 in a single trade, a few minutes ago.

well we do know that a lot of people trade them back and forth to manipulate the price. I've heard of ppl who 'cashed out' at a total of $20k or so which is nice but I have yet to hear of the early miners who got six figures out of it. not saying they don't exist, just that I don't know if the market could handle say someone trying to get a million USD out of it

https://bitcointalk.org/index.php?topic=413349.0
illuminating

xp they quote a guy in the article who said he bought "a nice apartment" with the money he cashed out of bitcoin.

Intelligent people "cash out" gradually as the price increases, and do things like buy lambos http://i.imgur.com/MkuABq5.gif

"a man potentially worth 1000 million dollars,"

or worth a billion dollars?

I tell you now is the time to buy bitcoin yo - dont be a FOOL!!

you can xp to things that look like onion articles or whatever but i don't see how much further down the bitcoin rabbithole you can go than this; url says it all

http://blogs.marketwatch.com/thetell/2014/03/05/winkelvoss-twins-pay-richard-branson-in-bitcoins-for-virgin-galactic-tickets/

The Japanese pronunciation of "Gox" sounds quite similar to an extremely vulgar phrase meaning "gulping down shit". Just putting that out there for y'all.

whoops, I meant to post that in the real thread, not this lamestream NPR-ready one.

I agree that obviously magic tha gathering online exchange was nto teh best place to spark the internet virtual currency revolution

it was what Kurzewil would call the "false pretender"

http://www.kurzweilai.net/the-future-of-libraries-part-1-the-technology-of-the-book

Not exactly the best way to lend an air of seriousness to your project, in any case.

newsweek article doesnt seem that convincing in describing either this person's theoretical-political motive or suggest any specific cryptography background (all the prior shrill detective pieces about this suggested an academic background)

as it is there is someone of a fairly common japanese name who might not like the govt and works with computers? has anyone more adept that newsweek adduced more evidence?

well he also implicitly claims to be the guy by saying he's "no longer" involved with it or whatever, but it's definitely possible that he's pulling their legs

I do think that concerns about his safety are not unwarranted. I think one of the weaknesses of Bitcoins is that they are a nice fat target for thieves, kidnappers, extortionists, etc., do to the ease of instantly transferring enormous sums and the irreversibility of transactions. It is kind of like having $100 million in cash in your house.

the bitcoin world is giving me weird crossover vibes with that game that came out recently castle doctrine

i'm just curious, how much actual $$$ is there in the bitcoin ecosystem right now ?

I do think that concerns about his safety are not unwarranted. I think one of the weaknesses of Bitcoins is that they are a nice fat target for thieves, kidnappers, extortionists, etc., do to the ease of instantly transferring enormous sums and the irreversibility of transactions. It is kind of like having $100 million in cash in your house.

― o. nate, Thursday, March 6, 2014 11:35 AM (28 minutes ago)

I bet RockStar/GTA gamedevs are sad that they didn't weave a Bitcoin thread into their game fabric.

How do you define "how much actual $$$ is there in the bitcoin ecosystem"?

"Meanwhile, bitcoin has lost just 3% in the last 24 hours, according to data from CoinMarketCap, down to $649 per coin and with a market cap of just under $8.1bn."

i didnt think that question through

what i meant was, if everyone were to 'cash out', how much money would there be that was pumped into BTC for them to get back. of course so much of the same money has gone back and forth and if everyone wanted out the value would obviously be $0 so it's a dumb question

How do you define "how much actual $$$ is there in the bitcoin ecosystem"?

― james franco tur(oll)ing test (Hurting 2), Thursday, March 6, 2014 8:07 PM (49 minutes ago) Bookmark Flag Post Permalink

thought this said 'egosystem,' didn't blink

I wish you could sell chickens and get bitcoins

I have 0.04 BTC, please send chickens

http://www.latimes.com/business/technology/la-fi-tn-bitcoin-founder-la-chased-20140306,0,3692933.story#axzz2vDojDoCt

well he also implicitly claims to be the guy by saying he's "no longer" involved with it or whatever, but it's definitely possible that he's pulling their legs

― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 19:11 (2 hours ago)

the micha quotes do suggest a crypto background is fairly likely

who knows

hopefully a tv news crew vigil will ensure his security anyway

lol can't believe newsweek doxed a guy who went under his OWN NAME

― socki (s1ocki), Thursday, March 6, 2014 11:00 PM (Yesterday) Bookmark

Listen... when an artist on the magnitude of Satoshi Nakamoto has requested to live a private life, people should respect that. I feel the same way about the greats of the world who have secluded themselves from the turmoil of the modern world.... Salinger, Jandek, and what. Just because you want to laugh at a bunch of fedora wearing cryptogeeks doesn't give you the right to trample all over this man's privacy.

woah...nakamoto is the jandek of pretend money

New interview with Dorian S. Nakamoto in which he claims he had never even heard of bitcoin until three weeks ago when his son mentioned it to him, after the journalist interviewed him, and that he was misunderstood when he said he was "no longer involved in that". He thought the question was about his former classified defense work:

http://www.sfgate.com/business/technology/article/AP-Exclusive-Man-denies-he-s-Bitcoin-founder-5295378.php

could they have really just gotten it so dreadfully wrong? looking back at the newsweek story there's not exactly a smoking gun. Also there's stuff like this: "The punctuation in the proposal is also consistent with how Dorian S. Nakamoto writes, with double spaces after periods and other format quirks."

"double spaces after periods" is one of the signature identifying quirks worth emphasizing?

as someone who has read a lot of Satoshi Nakamoto's writing when i fell down a deep rabbit hole six months ago, i am extreeeemely doubtful that Dorian is the guy.

Man selling home for $135,000 in Dogecoins
http://edition.cnn.com/2014/02/26/tech/innovation/dogecoin-cryptocurrency-tech-irpt/index.html

Dogecoin (pronounced DOHJ-coin)
i thought it was DOHG-AY!

lol dogecoins - anythign can be a coin now

Thomas Jefferson's anuscoins

so the real Satoshi (whose account dates back to 2010) just came out of hiding to say he's not Dorian (which of course proves nothing), but reading about this guy it seems very unlikely that he's the real dude, in which case LOL @ Newsweek for blowing your big comeback cover story, this is such an amazing thing

yeah the more I read the less likely it seems that this guy is satoshi and the more lulzy the whole thing seems

idk getting a ton of attention for a splashy and bad story sounds like they finally did learn how to succeed in 2014

relevant PBF:

http://i.imgur.com/HRJNgLN.jpg

wow prescient

'apologies to pbfcomics.com'

Here's the real one: http://pbfcomics.com/45/

hah didnt even notice it was different

it doesnt matter who invented it - its a dream now we all sahre as one - thats all that mattre