Bitcoins HACKED

Source? Last I heard there was a proposal for one in Cyprus but that was it for the immediate future.

http://money.cnn.com/2013/04/04/inve...tms/index.html

Cheers Franck

So instead of one ATM there is going to be around 4 ATMs "soon" in two locations and no immediate info on when ATMs will be rolled out in other countries. Hmmmm

IMO it'll take a very long time to roll out if that's the type of capital he's looking to raise

The most important info in that article is this

thanks for posting this!

op, watch this youtube when you get a sec.

I get that, but how does that change anything in regards to the reliance of its exchange rate? So what if a handful of guys use a bitcoin ATM. That isn't going to make any difference at all on the exchange rate.

Millions, if not billions of people use ATMs for cash. Doesn't make any difference at all on what the USD is worth.

Bitcoins are decentralized and peer to peer. DDOSing exchanges doesn't effect it's operation or ability to pay and receive them. When the mass of people only use one exchange rate (mtgox) it scares them when it goes down and they panic sell. Throw up more exchange sites or reinforce mtgox with DDOS mitigation.

He didn't think that out very well. I like a lot of his videos but he's off on this one.

His point about if a bank branch wasn't doing well one day that the media would not report that the USD was hacked, it flawed. The USD would not lose 20% of its value if a bank branch couldn't create accounts fast enough, per his description.

Secondly, the word "hack" was used to deliver the story to people who do not know anything about computers or what a ddos is. WE all know what it means, but 99% of the population does not, but they all understand the word "hacked." The media always dumbs the stories down. That is how they reach the masses. Adam "The Man" knows this too.

Last, the word "hack" is defined several ways, some of which do describe what happened to bitcoin.

- to damage or injure by crude, harsh, or insensitive treatment
- to reduce or cut ruthlessly; trim
- to cut, notch, slice, chop, or sever (something) with or as with heavy, irregular blows (often followed by up or down )

All of which could be used to say they "hacked" 20% off the value of bitcoin. The ddos reduced, or hacked, the value of bitcoin. And so on. "Hacked" doesn't always have to mean what WE think it means, which is a security breach or about computer security.

Those of you who do not speak English as a first language get a pass. Those of you who do speak English as a first language and are opposed to the headlines should spend more time augmenting your vocabulary. Just sayin'.

not really.

granted, he got mixed up on the bank branch analogy, but his point is still valid. here's a better analagy, bank of america takes a shit, not the branch in 2008, not one mention of the dollar being hacked, it was couched as bailing out the bank. none of us knew wtf "bank bailout" meant at the time, just like you are saying most don't know what "hacker" means, but we were fed bank bailout.

no, hacker is a sensationalist term that does not portray the events accurately at all.

theres no point in arguing. time will tell and the fools will be proven fools. words marked!

bitcoins are for morans

people say that about bleeding edge shit everytime. fact is, early adopters risk their asses backing unproven technology, 90+% of the time it fails.

there's a multi-billion dollar industry based on it, it's called venture capital, look at the success rate for those morans, 1 out of 20 maybe?

let's look at baseball players, step up to the plate and only hit the ball 1 out of every 3 times and you will find yourself in the hall of fame one day.


but don't try. just don't try or people will call you a fool for trying.

What is a moran? Did you mean moron maybe?

It amazes me just how upset and butthurt these people are.
They are in every thread screaming and crying how horrible Bitcoin is.
I really only can find 1 reason for that. And that is that they hate to see other people making easy money.
What other reason could there possibly be for this behaviour?

I can understand mentioning you don't like Bitcoins every now and then but this group of haters...man...it's like their life depends on it to be in every thread explaining how evil Bitcoin is.
It just doens't make sense.

crissy moran!

Those microwave contraptions were for morons. What kind of idiotic sorcery could cook faster than an oven. Those things will never sell. And automobiles; dumbest idea ever.