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Main Forums => Politics => Topic started by: AZRedhawk44 on May 15, 2013, 10:44:04 AM

Title: DHS makes move on BitCoin
Post by: AZRedhawk44 on May 15, 2013, 10:44:04 AM
http://beforeitsnews.com/alternative/2013/05/bitcoin-panic-department-of-homeland-security-shuts-down-dwolla-payments-of-mt-gox-video-2648278.html

DHS shuts down one of the major mechanisms of moving bitcoins in/out of "Mt Gox" which is one of the dominant BitCoin currency exchangers.

You can still use Mt Gox, but getting your money out of Gox and into a spendable form is now a little harder.

Yay, Turr'ism.  Yay, DHS.  I feel so protected.


So, we get the attacks on Cody Wilson and DefCad last week and now the attack on BitCoin this week.

Do you feel the warm fuzzy glove of government protectively embracing you, or do you feel it squeezing on your carotid with gently increasing pressure?
Title: Re: DHS makes move on BitCoin
Post by: CNYCacher on May 15, 2013, 12:49:03 PM
MTGox is based in east asia somewhere. DHS shut down their Dwolla account. Big whoop.  The easiest way to turn USD into BTC is still Coinbase.  MTGox is a currency exchange market.
Title: Re: DHS makes move on BitCoin
Post by: brimic on May 15, 2013, 03:27:29 PM
.Gov will defend its soon to be zimbabwe-esque currency at all costs.
Title: Re: DHS makes move on BitCoin
Post by: Blakenzy on May 15, 2013, 09:58:02 PM
.Gov will defend its soon to be zimbabwe-esque currency at all costs.

Some would argue that more than a few wars kinetic WMD-securing humanitarian interventions were launched to do just that.
Title: Re: DHS makes move on BitCoin
Post by: Fitz on May 23, 2013, 11:05:31 PM
Best way to get anonymous bitcoins is to meet in person and use cash

Speaking of which. I'm in the market for a few
Title: Re: DHS makes move on BitCoin
Post by: CNYCacher on May 24, 2013, 04:58:05 PM
Best way to get anonymous bitcoins is to meet in person and use cash

Speaking of which. I'm in the market for a few

Let me know if you are ever out my way.
Title: Re: DHS makes move on BitCoin
Post by: Fitz on May 24, 2013, 05:13:40 PM
Where are you again?
Title: Re: DHS makes move on BitCoin
Post by: Gewehr98 on May 24, 2013, 06:48:56 PM
Has anybody here ever tried mining BitCoin?

I thought SETI was CPU/GPU intensive, until I looked into BitCoin mining. 

You spend more on electricity than you earn.   =(
Title: Re: DHS makes move on BitCoin
Post by: Fitz on May 24, 2013, 06:53:44 PM
In the beginning it was profitable


Now not so much
Title: Re: DHS makes move on BitCoin
Post by: birdman on May 24, 2013, 07:31:23 PM
It's all ASIC dominated now.
Basically, the release rate is constant, so your effective mining rate is your fraction of the whole times the rate.  Given that the ASIC based miners are faster than anything, mining is not profitable.
Title: Re: DHS makes move on BitCoin
Post by: agricola on May 24, 2013, 08:01:03 PM
just play EVE?
Title: Re: DHS makes move on BitCoin
Post by: CNYCacher on May 25, 2013, 10:50:45 AM
Where are you again?

Finger Lakes region of NYS
Title: Re: DHS makes move on BitCoin
Post by: cassandra and sara's daddy on May 28, 2013, 04:59:37 PM
nows the time to buy

http://www.businessinsider.com/bitcoin-loses-77-of-value-from-high-2013-4
Title: Re: DHS makes move on BitCoin
Post by: CNYCacher on May 28, 2013, 05:25:24 PM
nows the time to buy

http://www.businessinsider.com/bitcoin-loses-77-of-value-from-high-2013-4

Do you mean April 12 was the time to buy?  I agree.  It's risen over 100% since that "crash".
Title: Re: Re: DHS makes move on BitCoin
Post by: cassandra and sara's daddy on May 28, 2013, 05:45:10 PM
so the loss is down to 50% or so

Sent from my SAMSUNG-SGH-I997 using Tapatalk 2
Title: Re: Re: DHS makes move on BitCoin
Post by: CNYCacher on May 28, 2013, 05:54:34 PM
so the loss is down to 50% or so

Sent from my SAMSUNG-SGH-I997 using Tapatalk 2

LOL.  If you, like the article, calculate a "loss" as the price differential between current prices and a one-day spike that went to an all-time high of over 3x market value.

The article says "70% loss over two days". I suppose "10% gain over three days" isn't sensational enough.
Title: Re: DHS makes move on BitCoin
Post by: drewtam on May 28, 2013, 06:10:51 PM
I was trying to figure out if this big Liberty Reserve freeze/accusation was related to bitcoin. According to WSJ, it is not.

http://online.wsj.com/article/SB10001424127887323855804578511121238052256.html?mod=WSJ_hps_LEFTTopStories
Title: Re: DHS makes move on BitCoin
Post by: cassandra and sara's daddy on May 28, 2013, 06:15:22 PM
http://www.businessinsider.com/investing-in-bitcoin-2013-5

do you not think its time?  is price gonna drop more?
Title: Re: DHS makes move on BitCoin
Post by: zahc on May 29, 2013, 05:26:29 AM
+/- 25% or more is normal for bitcoin. It has been fluctuating like that forever. That level of volatility would be huge for a normal currency, but a currency only needs to be stable on the time scale you plan to employ it. if you just need to buy bitcoins at spot, send to your seller, who converts back to his favored currency ar spot, you really only care about stability on time scales of seconds or milliseconds. A digital currency can probably be usable with almost arbitrarily high volatility.
Title: Re: DHS makes move on BitCoin
Post by: CNYCacher on May 29, 2013, 08:41:17 AM
http://www.businessinsider.com/investing-in-bitcoin-2013-5

do you not think its time?  is price gonna drop more?

Drop more?  What makes you think it's dropping? Oh, the article from a month and a half ago about a 3-day spike?

Your author could have done well to read this (http://en.wikipedia.org/wiki/Bitcoin) before writing. He may have avoided all kinds of impossible speculation, like the "anonymous inventors getting greedy and 'releasing' more coins" nonsense.
Title: Re: DHS makes move on BitCoin
Post by: MicroBalrog on June 02, 2013, 10:47:54 AM
If you think Bitcoin is a means to earn money to buy some now, and resell at a higher value later, and therefore you oppose Bitcoin, you misunderstand Bitcoin.

If you wish to 'invest' in Bitcoin on this basis, however, you also misunderstand Bitcoin.

If you think it is a magical privacy-assuring technology, you also misunderstand Bitcoin.

Both the bitcoin fanboys and the bitcoin haters misunderstand Bitcoin entirely.
Title: Re: DHS makes move on BitCoin
Post by: MicroBalrog on June 02, 2013, 10:48:47 AM
nows the time to buy

http://www.businessinsider.com/bitcoin-loses-77-of-value-from-high-2013-4

To be fair you were right. It is back up to $122 now.
Title: Re: DHS makes move on BitCoin
Post by: birdman on June 02, 2013, 11:47:19 AM
If you think Bitcoin is a means to earn money to buy some now, and resell at a higher value later, and therefore you oppose Bitcoin, you misunderstand Bitcoin.

If you wish to 'invest' in Bitcoin on this basis, however, you also misunderstand Bitcoin.

If you think it is a magical privacy-assuring technology, you also misunderstand Bitcoin.

Both the bitcoin fanboys and the bitcoin haters misunderstand Bitcoin entirely.

Agreed.

Also, for your consumption, an article by a good friend of mine.
http://www.wired.com/opinion/2013/05/lets-cut-through-the-bitcoin-hype/

For those that recognize the author's name from the whole DNS thing, yes, its the same guy.