Bitcoins HACKED

No offense, but you're completely delusional thinking it could have any impact on US taxes and the IRS. You have to first know what the IRS is and why we are taxed in the first place, then you will understand none of it has anything to do with anything bitcoin could solve.

Make all the money you can. I hope you and everyone else (even Franck) riding the bitcoin train get filthy rich. But you are pretty ungrounded when it comes to some of the comments you're making about it.

Hard for us to imagine now, but how long do you think it will be before someone unseats Google and Facebook?

my grandma wouldn't know what a hacker is, my mom didn't know, my dad described it as someone breaking into your computer and grabbing files. many non-sensationalist reports described it accurately as an attack, certainly that describes it better than hacked and more people would know that term over hacker.

either way, i think the media as irresponsible and over-sensational, you think they were accurate. we'll never know.

and no, many many people were confused about the bank bailouts. what is tarp, what is asset relief, what is too big to fail? all brand new terms and concepts.

there were many questions and a lot of people didn't understand it, including me.

hopefully soon

I think it was was accurate enough for the average person to understand, and that is the target audience of most of the media outlets.

Having said that, I believe a headline of "Bitcoin is under attack!" would have been equally effective. But we're talking about sleazy mega corporations who spread lies to help the government start illegal wars and further political agendas, so anything is possible.

Hey now, it has common uses. Drugs, child porn, hit men, gambling...how can it go wrong?

that's prolly the gist of it eh. + not investigating it in the slightest. i've noticed many of the mainstream articles quote each other- a lot. sure, they all have their "what you need to know about bitcoin in 30 seconds" articles but i'm realizing they prolly just read some other 30 second overview on it all to write their's.

it's too bad because it truly is a fucking fantastic experiment. doomed to fail? prolly. still a few years away though, but, just like the dotcom crash, investors took the hit, the infratructure remained and now here we are.

i'm glad you mentioned fb, btw, i've been fascinated with the comparison b/w it and btc. it's why i've posted a pic of zuckerberg here and there in these btc threads.

fb was touted as the next big thing, a new paradigm in social whatever. legitimate wall street ultimately valued it for us at $100 billion based on its potential. people all bought the hype and wanted a piece of $100b fb.

i'm not saying fb is bad or that btc is good. but i do find the difference between how the 2 are accepted/perceived to be....hmm....not sure what to think of that yet.....

ATM theft and fraud is HUGE, in the BILLIONS - the only reason ATM's are around is because the banks are so fucking rich that they can absorb the huge losses.

Those owning and operating Bitcoin ATM's won't last long, they won't be able to eat the losses to fraud/theft.

Converting bitcoins to cash safely and easily will be a huge obstacle. Putting your trust in 'exchanges' that are totally unregulated is about as high risk as you can get.

What happens when/if bitcoins really do take off - when there are thousands of retailers online who accept them for expensive hard goods like computers? For example, I buy a $2,000 computer from some online merchant with bitcoins and get scammed, they take my bitcoins and don't ship me a computer. With a credit card I can do a chargeback, with Paypal I can do a dispute and win, with a check or wire I at least have hard evidence to use in court - what does the customer who uses bitcoins show in court to prove he sent $2,000 in bitcoins - is there a printable proof of transaction that will identify the user I sent the $2,000 in bitcoins to?

I got interested in bitcoins because I could see its' place as an anonymous digital currency for the underground online economy. This hype we're seeing now is about going far beyond that and there are going to be huge pitfalls along the way.

Also, I am pretty sure that ATM's would fall under some regulation in any country. You can't even operate a hotdog cart without a license and inspection. So with a stroke of a pen any government can shut down the bitcoin ATM industry.

It's like Alex Jones quoting his own website InfoWars.com as it being the truth, when it is the only source for the information. Somehow, in the craziness of it all, people believe it. If the mainstream media paints a bad picture of bitcoin, telling everyone who is thinking of using it how unstable it is, it will more or less be over for the majority of people as they believe what they are told. Perhaps that is the point.

The death of bitcoin doesn't necessarily have to come directly from a government. There is more than one way to skin a cat.

hundy bitcoins

Of course. Unless a real bank gets behind it, it's just a pen stroke away from being a memory. You can't just plop down ATMs around the world to transfer "untraceable" money or exchange your cash for another untraceable currency. That's called money laundering. Unless those using the ATMs give up their anonymity, the odds of this being successful are very slim. I can't even fathom the red tape involved in doing this. And kudos to them if they do pull it off.

The people who will make money are the ones who bought when it was low and sold a week ago. it might peek again i dunno. but who are these retards buying it at its peek? FUCKIN IDIOTS LOL

Correction, they use it to misinform a broader audience.

Sensationalism is used to sell the story, a newspaper isn't going to let things like facts get in the way of a story

This is just my opinion from what I've read about Bitcoin but it's clearly in a speculative bubble but right now it's in a speculative bubble based on real demand from actual users unlike every other Ponzi Scheme that the bankers have created by using fraudulent CDOs and such to create demand that was never there so IMO this bubble has a long way to run before it implodes.

The thing that may change this will be if it generates mainstream usage in online business within a short space of time. I'm surprised most porn sites are not offering it as a signup option, it's perfect for porn or any micro payment system.

I think it's a real shame that it's ended up in such a speculative bubble, there is no doubt at some point it will crash in value. There has been flash crashes in the past so when that happens again, even if only temporarily you can bet your ass the media headline will be "Bitcoin Crashes In Value"

When it does drop through the floor that's what will destroy confidence in it, and if a lot of people get burnt on this they probably won't ever use it again A bit like porn customers who where victims of card bangers etc